Stories
Refine Search
-
Company
Weak Oil Pushes SBM Offshore to Axe More Jobs
SBM Offshore's first-half results lagged analysts' expectations on Wednesday as challenging conditions persisted in the oil industry and the Dutch oil services company announced an additional 250 job cuts. It said it did not expect a full recovery in its business until 2018…
SBM Offshore Nominates Wood as CFO
SBM Offshore has nominated D.H.M. Wood as a member of the management board and chief financial officer (CFO) to replace current CFO, P.M. van Rossum, who is set to retire. The company will hold an Extraordinary General Meeting (EGM) on November 30…
Proserv to Offer KLAW Products in the Middle East
Proserv said it has formed a strategic partnership with KLAW Products to offer an enhanced field safety service preventing offshore spills in the Middle East. KLAW Products, an oilfield equipment provider, supplies breakaway couplings and emergency…
Brazil Antitrust Regulator Recommends Penalizing Petrobras
The superintendent's office of Brazil's antitrust regulator Cade recommended penalizing state-run oil company Petroleo Brasileiro SA for anti-competitive behavior in the natural gas distribution market, according to a statement from Cade on Monday.
LNG-Prices Slide, Middle East Boosts Imports
The new new supply of liquefied natural gas (LNG) from Russia's Sakhalin plant and weakening demand from Egypt helped snap a months-long rally. Hence Asian spotLNG prices fell this week, reports Reuters. Meanwhile, countries in the Middle East and North Africa led by Egypt…
Prosecutors Summon DSME CFO
The Seoul Central District Prosecutors’ Office summoned the chief financial officer (CFO) of Daewoo Shipbuilding & Marine Engineering Co. (DSME ) today (Friday) over his alleged involvement in the financially troubled company’s accounting fraud.
US Court Puts Petrobras Class Action on Hold
A U.S. appeals court put a class action case against Brazil's state-run oil company Petroleo Brasileiro SA on hold pending the resolution of an appeal filed by the company, according to a court filing on Tuesday. Petrobras, as the company is commonly known…
BP's Glen Lyon FPSO Hook-up Underway
Mechanical engineering specialist EnerMech said it is in the process of delivering a £5-million-plus contract to support the turret delivery team on BP’s Glen Lyon FPSO, which has arrived for hook-up operations West of Shetland. The Glen Lyon…
LNG Market Needs More Vessels than Currently on Order
Despite the current weakness in LNG shipping rates, Drewry maintains its bullish long-term outlook for LNG shipping and believes that the market will require more vessels than listed on the current orderbook, according to the latest edition…
Global Maritime Introduces New DP Policies & Procedures
Global Maritime Consultancy & Engineering has introduced a new set of policies and procedures to support its Dynamic Positioning (DP) activities. The new procedures will ensure continued excellence and consistency across all Global Maritime’s global DP operations.
Barra to Study Buying Petrobras Asset Sold to Statoil
Brazil's Barra Energia do Brasil Petróleo e Gás, which owns 10 percent of the giant Carcara offshore oil prospect, will study invoking its right of first refusal over Petrobras' sale of its 66 percent stake in the area to Norway's Statoil, a…
Det Norske to Restore Production at Alvheim after Leak
Norwegian oil firm Det norske said it expected to reach full production at its Alvheim FPSO (floating storage, offloading and producing unit) overnight after a leak, stopped production earlier on Thursday. There was no discharge into the sea as a result of the incident, it added.
Technip Bags Woodside's Subsea Contract
Technip has been awarded a large(1) subsea contract by Woodside to support the development of the Greater Enfield Project offshore Western Australia, at a water depth comprised between 340 and 850 meters. The contract covers project management…
Saipem Cuts Guidance on Delayed Projects, Charges
Italian oil contractor Saipem cut its sales and profit guidance for the year on Wednesday, citing delays by clients to oil projects and higher financial charges. Saipem, controlled by oil major Eni and state lender fund FSI, said it expected…
VesselValue.com: $28.4B Worth of Ships Delivered to Date
As the calendar now indicates we have passed the half year mark on 2016, VesselValue.com offers insight on the number and value of all the 2016 built vessels that have been delivered so far vs how many are still yet to be delivered. To date…
Golar, Schlumberger Enter LNG Joint Venture
Golar and Schlumberger form OneLNG joint venture to develop low cost gas reserves to LNG A new joint venture between Golar LNG Limited and Schlumberger, OneLNGSM, has been created with the goal of rapidly developing low cost gas reserves to LNG.
Philippines' Offshore Oil Still in Doubt
Production of oil still in troubled waters after South China Sea ruling By Enrico Dela Cruz The Philippines, eager to resume development of vital oil and gas reserves off its coast, will likely need to reach an accord with a Chinese government…
Relatchable Bend Stiffener Connector for Gina Krog FSO
Subsea connector specialist, First Subsea, has supplied a relatchable bend stiffener connector to NOV Completion & Production Solutions for a flexible production riser for Statoil’s Gina Krog, turret moored, Floating Storage and Offloading (FSO) vessel in the Norwegian sector of the North Sea.
Four Firms Could Tender for Egypt's Regasification Needs
Four international firms expressed interest in Egypt's tender to lease a third regasification unit, an Egyptian official told Reuters on Wednesday. The firms include Norway's Hoegh, US firm Excelerate Energy and Singapore-based Norwegian gas shipping company BW Gas.
Front Puffin FPSO Commissioned - Panoro Energy
The commissioning of the Front Puffin FPSO has now been completed, and the Front Puffin FPSO is on hire following the 72 hour test. Targeted stabilised production rates have not yet been achieved, due to mechanical issues and Nigerian regulatory approvals.
Roxtec Launches Roxtec Services AB
North West safety seal manufacturer Roxtec has launched a new company called Roxtec Services AB targeting North Sea marine and offshore markets. Roxtec Services AB was developed following sustained demand for equipment inspection on naval ships…