New 'Mega Passenger Ship' for Star Cruises

Elomatic Ltd and Deltamarin Ltd have signed a tri-party engineering contract with shipbuilder MV Werften for the design of Star Cruises’ new Global Class “mega passenger ship,

Chevron Posts Largest Quarterly loss since 2001

Chevron Corp, the second-largest U.S.-based oil producer, posted a second-quarter loss on Friday, its largest since 2001, due to the slump in crude prices and refining income.

Daewoo Shipbuilding: $1.4 bln order Cancelled

Cancelled order part of Statoil's Bressay project. South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd on Friday said a 1.58 trillion won ($1.41 billion)

Asia Tankers-VLCC Rates Falter on Oil, Tanker Supplies

MidEast, West Africa rates hit 11-month low. Freight rates for very large crude carriers (VLCCs), which hit an 11-month low this week, could slide further next

Exxon Mobil Q2 Profit Dives

Exxon Mobil Corp, the world's largest publicly traded oil producer, said on Friday its quarterly profit tumbled 59 percent due to the slump in crude prices. The company posted net income of $1.

La Nina may boost U.S. Heating Oil Demand

Middle distillates remain the one ray of hope for U.S. oil refiners still struggling to clear a glut of gasoline caused by over-production earlier in the year. Stocks

Statoil buys Petrobras stake in Brazil oil find

Statoil aims to offset declining output from mature fields. Norway's Statoil agreed on Friday to buy Petrobras' stake in an exploration licence off Brazil for $2.

Phillips 66 Profit Halved on Gasoline Glut

Phillips 66's quarterly profit halved as an oversupply of gasoline and diesel hurt its refining margins. Earnings from Phillips 66's refining business plunged 75.

Bibby Offshore Continues North Sea Success

Subsea services provider to the oil and gas industry Bibby Offshore announced  that it has secured a multimillion pound contract with an independent UK-based E&P

California Power Grid Tested as Heat Soars

California's power grid operator extended its call for consumers to conserve electricity into Thursday as a heat wave continued to bake the state, especially the inland cities.

Marathon Petroleum Beats Street

Marathon Petroleum Corp posted a better-than-expected quarterly profit, helped by lower operating costs and robust demand for gasoline during the summer driving season.

Asia Dry Bulk-Capesize Steady as Owners Spurn Low Rates

Owners anchoring ships rather than fix at low rates. W. Australia-China capesize rates hit over two-month low. Freight rates for large capesize dry cargo ships

Oil Steadies at 3-Month Lows, Glut Weighs

Brent and WTI crude oil hit lowest levels since April; high crude output, refined product glut drag on prices. Oil prices steadied just above three-month lows

TransCanada Profit Trimmed by Columbia Pipeline Costs

TransCanada Corp, Canada's second-largest pipeline company, reported a 14.9 percent decline in quarterly profit due to costs related to its acquisition of Columbia Pipeline Group.

Baker Hughes Disappoints on Weaker Drilling Volume

Baker Hughes Inc reported a bigger-than-expected quarterly loss, hurt by lower drilling activity and pricing, and the oilfield services provider said it did not

India Buys 4 P-8I Maritime Planes

 India has inked a deal with the US defence and aerospace giant Boeing to procure four more Poseidon-8I (P-8I) long-range surveillance and anti-submarine warfare

Focal Technologies Supplies Slip Ring for Tidal Turbine

Focal Technologies, a Moog Inc. company, said it has been contracted to supply Scotrenewables Tidal Power Ltd. with a 6.6 kV electrical slip ring for the company’s new tidal turbine.

Trelleborg Wins Floatover Installation Contract for BorWin3

Trelleborg’s engineered products operation announces it has been awarded a contract by Petrofac for its first floatover installation of an offshore converter platform - BorWin3 wind farm project.

Cyprus: Statoil, Exxon, ENI, Total Mulling Offshore Gas

Cyprus received expressions of interest from ENI, Total, Statoil, Exxon Mobil, Qatar Petroleum, and Cairn in a licensing round for offshore hydrocarbon blocks which lapsed last week,

Japan's Itochu Attacked by short-seller Glaucus

Glaucus questions how Itochu's classifies some investments. Japan's Itochu Corp became the target of short-seller Glaucus Research Group on Wednesday with a

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