Baker Hughes, world’s third largest oilfield services provider, saw its revenue cut in half in the fourth quarter of 2015, versus the same quarter of the previous year. Namely, the company on Thursday said revenue for the quarter was $3.4 billion, down $3.2 billion or 49% compared to the fourth quar
Oil & Gas UK, the representative body for the UK’s oil and gas industry, applauded the government’s decision to back up Aberdeen, the nation’s oil and gas capital, with a £250 million ($358M) funding package which will benefit the oil and gas sector. Deirdre Michie, chief executive of Oil & Gas UK,
The 71,665 dwt bulk carrier Los Llanitos will most likely be dismantled where it ran aground near Mexico’s Barra de Navidad on October 23 during Hurricane Patricia, the Mexican government said. After necessary inspections of the vessel were conducted, the authorities came up with four possible scena
The list of the Panamanian-flagged car carrier Modern Express, now at around 50 degrees, is gradually increasing as the vessel continues to drift about 370 km west of La Rochelle, France. According to the French Maritime Authority, the heavy list indicated that the vessel, carrying 3600 tons of timb
The major ports in India are undergoing upgrades, modernization and construction of new terminals, in order to add more capacity and develop into hub ports, the Indian Ministry of Shipping said. Compared to similar ports around the world, the current level of mechanization at India’s ports is not su
The American Maritime Partnership (AMP) disagrees with the findings of the recent report published by the Alliance for Innovation and Infrastructure’s (Aii) entitled Jones Act: Protectionism v. Global Trade. The report called the Jones Act outdated, especially as the United States is entering new gl
An oil and gas industry skills and workforce development body, Opito, has appointed Graham Gall a new managing director. The organization said Gall would lead “the continued growth of its rapidly expanding international business.” Formerly the managing director of Falck Safety Services in Brazil, G
UK’s oil and gas capital Aberdeen is set to receive a major boost as the UK Government has confirmed a £250 million ($358M) City Deal for the Scottish city. The Deal will see UK Government, Scottish Government and local authorities work together to invest in future of North East Scotland. The financ
Otto Energy, an oil and gas company, is planning to exit its Service Contract 55 (SC55), offshore the Philippines, and focus on its North American assets. SC55 is a deep-water block located in the southwest Palawan Basin, covering an area of 9,880km2. Otto is the operator of SC55 with 78.18% interes
Norwegian oil and gas company Statoil shared a video of Aasta Hansteen living quarters being lifted onto the topside. The lifting took place January 9, 2016, in Ulsan, South Korea, where the platform is currently being constructed by Hyundai Heavy Industries. The Aasta Hansteen living quarters were
GasLog Partners, the Monaco-based owner and operator of LNG carriers said Thursday its fourth quarter revenues rose 56 percent on year to $51.95 million. The LNG tanker owner informed in a statement this was the company’s “highest-ever quarterly performance for revenues, profit, EBITDA, adjusted EBI
Carnarvon Petroleum has joined Quadrant Energy in a new Barrow sub-basin oil project, offshore Australia. The company on Thursday said it acquired a 35% interest in retention licence TR/3, containing the previously discovered Blencathra oil resource, WA-155-P containing the Outtrim-1 oil discovery a
France’s GTT, an engineering company specialized in LNG containment systems, responded to media reports on the possible investigation of its contracts with South Korean shipbuilders.
Independent Oil and Gas (IOG), the North Sea focused oil and gas company, has been granted an extension for the Skipper Licence P1609 Block 9/21a, in the UK North Sea, until the end of 2016. Following discussions with the Oil & Gas Authority (OGA), the UK’s oil and gas regulator, the licence was for
