Singapore's offshore rig builder Keppel is considering taking legal action against Awilco Drilling after the drilling company on Monday said it had terminated a rig construction contract with Keppel.Awilco Drilling said Monday that its subsidiary Awilco Rig 1 (AR1) had notified Keppel FELS that it had exercised its contractual termination right under a newbuilding contract between KFELS and AR1 for the construction of the semi-submersible drilling rig…
The supervisor of Singaporean shipping group Xihe Holdings Pte Ltd has put seven oil tankers controlled by the company up for sale as part of efforts to recoup funds owed to creditors, three sources said on Wednesday. Xihe Holdings is part of the Lim family business empire…
An Indian court has issued a second arrest warrant for a marine refueling tanker owned by troubled UAE oil trader GP Global after it failed to make payments to its ship manager, court documents showed.On Sept. 10, the High Court of the western Indian state of Gujrat granted the vessel manager's…
The family that owns beleaguered Singaporean oil trader Hin Leong Trading (HLT) is seeking to block creditor OCBC's request to appoint overseers for the family's Xihe Holdings and four other subsidiaries to recoup its debt.Oversea Chinese Banking…
ZenRock Commodities Trading Pte Ltd is unlikely to continue its core oil trading businesses in the long term, its court-appointed supervisor KPMG Services said in a report that also raised concerns over transactions by the Singapore-based trader…
EY, the court-appointed supervisor for Ocean Tankers Pte Ltd (OTPL), has proposed two restructuring options to the shipping company's owners and could meet with them as early as next week to discuss the plans, according to an EY report seen by Reuters…
China has granted Zhejiang Petroleum & Chemical Co (ZPC) a license to export refined oil products, making it the first private oil refiner to win such permission, two sources with knowledge of the matter said on Thursday.The license would allow…
Malaysia, the world's second-largest palm oil producer, will take legal action against the European Union's restrictions on palm oil-based biofuels with the World Trade Organization (WTO), calling the policy a 'discriminatory action.'Plantation…
China said on Friday it will bolster the capacity of the country's energy reserves and offer lower gas and electricity charges to key industries, as it looks to ensure energy supply and offset the impact of the coronavirus pandemic.In energy announcements on the first day of the parliament…
Two EY executives in Singapore have been appointed interim judicial managers of Ocean Tankers, the accounting firm said on Tuesday, following a Singapore court hearing to consider the shipping company's request to appoint independent managers…
Bankrupt Diamond Offshore Drilling Inc has sued Australian oil and gas producer Beach Energy Ltd for abruptly terminating a $65 million drilling contract.Beach Energy ended the agreement, claiming Diamond Offshore missed a 'contractual milestone to deliver the rig'…
Sembcorp Industries on Monday said its Sembcorp Cogen unit had begun legal proceedings to assert ownership over some gasoil reserves stored in tanks at Singapore's Universal Terminal, partly owned by oil trader Hin Leong Trading Pte Ltd.Just last week…
India's ICICI Bank is seeking the impounding of two vessels operated by Ocean Tankers (Pte) Ltd, a unit of Singapore oil-trading company Hin Leong Trading Pte Ltd (HLT), an ICICI source said on Monday.The tankers, Wu Yi San and Chang Bai San…
Former head of China's National Energy Administration Nur Bekri has been sentenced to life in prison for accepting bribes, China's Supreme People's Court said on Monday.The court said in a statement published on Chinese social media platform Weibo that Bekri confessed his crimes while on trial…
Malaysia's state of Sarawak filed a writ summons and statement of claim against national energy firm Petroliam Nasional Bhd on Thursday to recover taxes owed, according to media reports.National news agency Bernama reported that the company…
AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week
