According to an August 6 report from Environment News Service, suffering deep financial losses from the Deepwater Horizon oil spill in the Gulf of Mexico, and in response to a proliferation of deepwater offshore drilling for oil worldwide, investors have sent a joint letter to 27 major oil companies seeking transparency on risk reduction strategies for their offshore oil operations. Fifty-eight investors in the United States and Europe, representing trillions of dollars in assets, sent the request for more information to chief executive officers at the oil companies, including the world's three largest deepwater oil producers - ExxonMobil, Royal Dutch Shell and Brazil's state-owned oil company Petrobras. (Source: Environment News Service)
Norway's government wants to let firms other than pure oil companies apply for stakes in offshore oil and gas licenses as part of a drive to simplify the sector and attract investments. Government officials said smaller oil companies, downstream companies and the supply industry could take stakes in licenses on the shelf if the regulations are changed. Currently only pure oil and gas firms are allowed to apply. Analysts say that companies like offshore supply group Aker Maritime are
The U.S. Interior Department's Minerals Management Service (MMS) announced it will delay its decision on whether oil companies can drill for oil and natural gas off California's coast, until August 16, 1999. The MMS was scheduled to decide by June 30 if drilling would be allowed on 40 undeveloped leases off the central coast of California, but said it needs more time to review the oil company requests.
Exxon Mobil Corp., the No. 1 oil company, said first-quarter earnings rose 51 percent, as it cashed in on strong crude oil and natural gas prices as well as better profits from refined fuels such as gasoline. Exxon Mobil posted record first-quarter income, excluding merger effects, of $5.05 billion, up from $3.35 billion in the year-earlier period. First-quarter revenues rose to $57.28 billion from $54.1 billion a year before
Concordia Maritime has signed two-year timecharter contracts for the V-MAX vessels Stena Vision and Stena Victory with Litasco, a subsidiary of the Russian oil company Lukoil. The new time charters will begin immediately upon expiration of the current charter contracts with the American oil company Sunoco at the end of 2007. The vessels are chartered in from Arlington Tankers Ltd until the end of 2009. With the new time charter contracts Concordia Maritime has secured employment
The Colombian government Tuesday granted exploration and production rights on nine offshore areas on the Caribbean coast to five different companies in an effort to boost the country's oil reserves. In Tuesday's auction, Colombian state-owned oil company Ecopetrol SA, India's state-run oil company Oil and Natural Gas Corp. (500312.BY), Brazil's Petroleo Brasileiro SA (PBR), U.K.-based BP PlC (BP) and Hess Corp. (HES) won the rights separately or in partnership to explore the nine blocks
The four oil majors who own New Zealand's Coastal Tankers Limited are reportedly buying the 30,000 dwt oil products tanker Taiko from Union Shipping Company after having it on charter since delivery 15 years ago.
According to reports, Murphy Oil Corp said it is in negotiations with Petroliam Nasional Bhd (Petronas), the state oil company, for the sale of gas from its fields offshore Sarawak. Last month, Murphy Oil and Petronas Carigali signed a deal to sell natural gas to Petronas from blocks SK309 and SK311 at an initial rate of 300 million cu ft per day for up to 15 years. Initial deliveries are scheduled for 2008.
CNOOC is likely to bid for a Kazakhstan oil company just days after it unveiled plans to spend $2.3 billion on offshore oil and gas assets in Nigeria, www.TheStandard.com reported. CNOOC is eyeing an offer for Nations Energy, an independent oil producer based in Canada. The move by CNOOC comes after the company announced the acquisition of a 45 percent stake in oil and gas fields owned by Nigerian oil company South Atlantic Petroleum earlier this week
Gulf Navigation Holding PJSC (DFM: GULFNAV) has announced the appointment of Khalid Karim to the position of Chief Financial Officer Khalid brings to Gulf Navigation over 30 years of experience in major oil & gas and shipping companies in senior finance roles. He joins the company as it enters a new phase in its substantial expansionary plan where he will assist the company in its continuing growth strategy.
During the Italy-Russia Business Forum in Trieste, Italy, Fincantieri secured a contract to build a semi-submersible floating platform for the transportation of nuclear submarine reactor compartments. The company also signed an agreement to define plans for an advanced technology offshore energy
Orlando, Florida-based, Comtech Systems, has received a US$2.4-million contract to install the world’s first digital over-the-horizon microwave communications system, to be used on a deep water tension-leg oil platform for a major international oil company.
ABB recently entered a partnership with international energy company Statoil to develop power solutions for subsea oil and gas production. A key challenge they identify is to develop reliable long-distance power transmission technology and to build components that can function for several decades
Parker Kittiwake, the global provider of asset control and protection technology, has launched its newly updated DIGI TBN test kit. The digital, used-oil analysis kit now gives a rapid indication of total base number (TBN) depletion in scrape down cylinder lubricants with a BN range up to 100.
Netherlands-based Fugro has been awarded a contract of around US$ 90-million by Mexico’s national oil company PEMEX for ultra deep water geotechnical and pilot hole (drilling and logging) services associated with the de-risking of drilling locations and field developments planned offshore
Strainstall Marine, a part of James Fisher and Sons plc, has secured a five-figure order to supply stress monitoring systems for Hyundai Samho Heavy Industries (HSHI) to be fitted aboard a new 405m floating drydock. The floating drydock hull number S708 is owned by Qatar Petroleum
Viking Supply Ships has entered into a contract with a major oil company for the charter of the AHTS-vessels “Loke Viking”, “Magne Viking”, “Brage Viking” and “Balder Viking”. The contract applies to the drilling seasons 2014 and 2015
Ulstein has entered into an agreement with COSCO (Guang Dong) Shipyard Co. Ltd, China, on deliveries of ship design, power and control equipment and onsite follow-up services of two platform supply vessels of the PX121 design. The vessels are ordered by Vroon Offshore Services of the Netherlands
Singapore's EMAS, the operating brand of Ezra Holdings, announce that its Subsea Services (EMAS AMC) and Offshore Support Services (EMAS Marine) divisions have been awarded projects worth US$110 million. These projects will be executed in the Gulf of Mexico and the Asia-Pacific region.
LOC Group Ltd (incorporating London Offshore Consultants) – a leading global marine engineering consultancy – has secured a minority external investment from Bridgepoint Development Capital (BDC). Financial details of the investment were not disclosed.
According to Greenpeace, Shell's CFO Simon Henry said that the company is putting the building blocks in place to drill in Alaskan Arctic as early as next year. Reacting to the news, the head of Greenpeace International’s Arctic oil campaign Ben Ayliffe said:
International contractor of offshore deepwater drilling services, Ocean Rig, announce its unaudited financial and operating results for the third quarter ended September 30, 2013, reporting a net loss of $21.5 million, or $0.16 basic and diluted loss per share
Aker Solutions ASA publish their third-quarter results 2013 showing a fairly even performance in the group's sectors, but in subsea widening its profit margin to 10.9 percent from 8.7 percent a year earlier. Financial Highlights Sales were NOK 10
Shell has manipulated oil spill investigations in Nigeria, with the company’s claims on oil pollution in the region deeply suspect and often untrue, claim Amnesty International and the Centre for Environment, Human Rights and Development (CEHRD).
Rex International Holding Limited, one of the largest companies listed on the Catalyst of the Singapore Exchange Securities Trading Limited, announced that its jointly-controlled entity, Lime Petroleum Plc, through its subsidiary Masirah Oil Ltd