Finance

SBM Offshore Completes $1.55 bln FPSO Financing

SBM Offshore announced it has today completed the project financing of FPSO Cidade de Saquarema for a total of $1.55 billion, marking the largest project financing in the company's history.

Red Ensign Group Charity Appeal for The Mission to Seafarers

Six British shipping registers, which work together under the banner the ‘Red Ensign Group’ (REG), will host a shipping reception on Wednesday, September 9 in aid

NAT Buys 2 Suexmax Tankers

Nordic American Tankers Limited (NAT) acquires two modern Suezmax tankers, increasing the fleet to 26 vessels    Tanker shipping company NAT announced that it

The Evolution of Subsea EPC

The subsea sector is highly consolidated with just five players servicing the $12 billion annual requirements of the global E&P community. The two largest, FMC and OneSubsea,

Rolls-Royce Bolsters R&D for MTU Engines

New R&D test facilities in Friedrichshafen already in service; 40 million euros invested for greater fuel economy and lower emissions    Rolls-Royce Power Systems

Asia-Europe Box Rates Down 23 pct

Shipping freight rates for transporting containers from ports in Asia to Northern Europe dropped 22.8 percent to $400 per 20-foot container (TEU) in the week ended last Friday,

Nord Stream:Russian Gas to Germany Stops Aug. 11-20

The Nord Stream gas pipeline, which carries Russian gas to Germany under the bed of the Baltic Sea, will undergo planned maintenance from Aug. 11-20 which will stop gas flows,

Consob Dismisses Charges Against BlackRock

Italian market regulator Consob has dismissed all charges against BlackRock and one of its managers over the alleged use of insider information to sell shares in Saipem in 2013,

Hedge Funds Most Bearish on U.S. Oil Since 2010

Hedge funds are more bearish about the outlook for U.S. oil prices than at any time for almost five years, according to data from the U.S. Commodity Futures Trading Commission.

Billions in Deepwater Oil & Gas Projects Deferred

Oil and gas projects in deep basins account for most of deferred investments worth more than $200 billion made due to the oil price crash, analysts at consultancy Wood Mackenzie said in a report.

Glut Drags Oil to 4-Month Low

Chinese stocks fall 8 pct on Monday on growth worries; Brent falls to four-month low of $53.63 a barrel. Oil hit four-month lows on Monday after a steep drop

Speculators Cut Bets on Rising Price of Brent

Hedge funds and money managers cut their bets on a longer-term rise in the price of Brent crude oil in the week to July 21, according to data released by the InterContinental Exchange on Monday.

RI Offshore Project Boosts US Wind Entry

Rhode Island's Deepwater Wind will start installing the foundations for North America's first offshore wind farm on Monday, a milestone the company says could pave

Britain Awards 41 North Sea Oil & Gas Licenses

Britain on Monday awarded 41 licences to drill for oil and gas in the North Sea, the government said, with oil majors Shell and ENI among the successful bidders.

Norfolk Southern Profit Down on Lower Coal, Fuel Surcharges

U.S. railroad Norfolk Southern Corp on Monday reported a lower quarterly net profit due to falling coal freight shipments and a decline in fuel surcharge revenue.

EU Eyes Compromise on Coal Debate

Further OECD talks in September, EU talks Wednesday; stronger EU position could have big role in advancing debate. EU bosses are pushing to resolve a clash between

Australia's LNG Challenge: Russell

With commodity prices slumping, the local currency slipping and manufacturing jobs disappearing, Australians are starting to question whether they've backed the wrong economic horse.

ABB to Increase Norway’s Grid Capacity

  ABB transformer technology supports Norway’s push to increase the volume of clean energy it can transport reliably over its grid using existing transmission corridors ABB,

Saipem Scarabeo 3 Spuds Aje Well

  Panoro Energy ASA , the independent E&P company with assets in Nigeria and Gabon, informed that drilling has commenced on the Aje-5 production well on the OML 113 license, offshore Nigeria.

Maersk Innovator Contract Extended on Eldfisk

  Maersk Drilling has been awarded a contract extension for the jack-up rig Mærsk Innovator with ConocoPhillips Norway for work on the Eldfisk field, part of the greater Ekofisk area,

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