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Seadrill Nears Comprehensive Restructuring Deal

Feb 12, 2018

Rig firm Seadrill, which last year filed for bankruptcy protection in a U.S. court, is working towards a comprehensive deal with all its creditors that could be concluded this week, it said in a court filing late on Friday. Once the largest drilling rig operator by market value…

IKM Subsea Singapore Starts 2018 with Multiple Contracts

Feb 12, 2018

IKM Subsea Singapore said it has kicked off 2018 with a double contract award. The first is a contract to provide two remotely operated vehicles (ROV) for a floating liquefied natural gas (FLNG) mooring installation in Bangladesh. IKM Subsea…

Diamond Offshore Revenue Beats Estimates

Feb 12, 2018

Diamond Offshore Drilling Inc's fourth-quarter revenue beat analysts' estimates on Monday, helped by higher demand for its ultra-deepwater rigs. The company's revenue from its ultra-deepwater rigs rose more than 24 percent to $288.28 million in the fourth quarter…

Lebanon Will Use Energy Block Disputed by Israel

Feb 09, 2018

Lebanese Energy Minister Cesar Abi Khalil vowed on Friday there would be full exploration in offshore energy Block 9, part of which lies in waters disputed by neighbouring Israel.Lebanon said on Friday it had signed its first offshore oil…

Vestas Bets on Geared Turbines in Tough Wind Markets

Feb 09, 2018

Geared turbines said to be cheaper than direct drive rivals and the wind power industry is facing severe cost pressures. Vestas is betting on geared wind turbine technology to meet the ambitious profit-margin target it promised when it reported quarterly results on Wednesday…

Patterson-UTI Energy Reports Bigger Loss than Expected

Feb 08, 2018

Oil and gas driller Patterson-UTI Energy Inc, dealing with the fallout of a drilling accident that killed five workers last month, reported a bigger-than-expected quarterly loss on Thursday as expenses more than doubled.The accident at an…

Brightoil Petroleum Employees Charged for Fuel Theft

Feb 08, 2018

Two employees of Brightoil Petroleum (Singapore) Pte Ltd were charged in court in the city-state this week for their alleged involvement in the theft of marine fuel on board a company barge, a company executive said in a statement on Thursday…

California to Ban Crude from Trump Offshore Drilling Plan

Feb 07, 2018

California will block the transport of petroleum from new offshore oil rigs through its state, officials told Reuters, a move meant to hobble the Trump administration’s effort to vastly expand drilling in U.S. federal waters. California's…

Statoil's US Operations Have Turned the Corner

Feb 07, 2018

Statoil's U.S. operations have turned the corner and could deliver up to $5 billion in net cash flow over the 2018-2020 period at an oil price of around $70 a barrel, Torgrim Reitan, Statoil's head of U.S. operations said on Wednesday.'As…

India to Auction 60 Small Discovered Oil, Gas Fields

Feb 07, 2018

India will auction 60 discovered small oil and gas fields with the potential to produce 194.65 million tonnes of oil and oil equivalent gas, the government said in a tweet after a cabinet meeting.Blocks that will be auctioned were originally…

Shell Russia: Impact of Western Sanctions 'minimal'

Feb 07, 2018

International oil major Royal Dutch Shell's Russian business felt minimal impact from Western sanctions on Russia, the branch's head Sergey Starodubtsev said on Wednesday, adding the firm was fully compliant with international law. Shell Neft…

BP to Boost U.S. Investment After Tax Reform

Feb 06, 2018

British oil and gas company BP will increase investment in the United States after the lowering of tax rates under President Donald Trump, Chief Executive Bob Dudley said on Tuesday. 'It is important for us, there is no doubt we will increase investments…

China Surpasses US as Largest Crude Oil Importer

Feb 05, 2018

China took the crown as the world’s largest crude oil importer in 2017, according to U.S. Energy Information Administration press release. China imported 8.4 million barrels per day, and the United States imported 7.9 million barrels per day…

Sweden to Invest $18 million in Northvolt Battery Plant

Feb 05, 2018

Sweden will invest 146 million crowns ($18 million) in a multibillion-euro project to build Europe's biggest battery cell plant in the north of the country, its Energy Agency said on Monday. Swedish company Northvolt, whose CEO Peter Carlsson used to work for Tesla…

China Rebuffs U.S. Criticism of its Venezuela Ties

Feb 05, 2018

China's support for Venezuela has benefited ordinary people and been broadly welcomed, the foreign ministry said on Monday after the U.S. Treasury accused China of aiding Venezuelan President Nicolas Maduro's government with murky oil-for-loan investments…

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Into the Deep: Offshore Production Increasingly Finds Deeper Waters

Odfjell Technology Boosts Asia Pacific Presence with New Contracts in Malaysia

Odfjell Technology Boosts Asia Pacific Presence with New Contracts in Malaysia

Sapura Energy Lands $1.8B Petrobras Deal for Six Pipelaying Vessels and Subsea Services

Sapura Energy Lands $1.8B Petrobras Deal for Six Pipelaying Vessels and Subsea Services

CNOOC Starts Production at Gas Field in Bohai Sea

CNOOC Starts Production at Gas Field in Bohai Sea

Shell In Talks to Sell Malaysia Fuel Stations to Saudi Aramco

Shell In Talks to Sell Malaysia Fuel Stations to Saudi Aramco

Unique Group Acquires Subsea Innovation

Unique Group Acquires Subsea Innovation

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