(Source: Dow Jones & Company, Inc.)
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Subsea 7 S.A. announced its financial results for the first quarter ending March 31, 2016, reporting revenues of $746 million, down 37 percent from the prior year period.
The oil discoveries are down 47% y-o-y on an annualised basis so far in 2016, global rig utilisation has dropped 22 percentage points to 73% in two years, and 29% of seismic units are inactive,
Revenue falls 30 pct; order book at S$9.7 billion.
Singapore rig-builder Sembcorp Marine's quarterly profit halved as customers deferred projects, and it faces
India has instructed an Indian-flagged oil tanker that has been blacklisted by the U.N. not to discharge its cargo of crude oil from Libya's rival eastern government
The risk of accidents in Norway's oil industry rose last year after reaching record lows in 2014, a survey by the Nordic country's safety watchdog showed on Thursday.