Legal

Swiber Applies for Judicial Management Instead of Liquidation

Singapore oilfield services company Swiber Holdings Ltd said on Friday it has applied to place itself under judicial management instead of liquidation.   Swiber

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)

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.

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.

Rosneft Cannot Buy Bashneft - Russian Dy PM

Gas and oil giant Rosneft cannot take part in the privatization of state company Bashneft, Deputy Prime Minister Arkady Dvorkovich said Thursday. Dvorkovich

Gener8 Maritime Net Income Up 91%

Announcing its financial results today for the three and six months ended June 30, 2016 Gener8 Maritime, Inc. reported net income of $38.0 million, or $0.46 basic and diluted earnings per share,

Navios Maritime Posts 2Q Profit

 Navios Maritime Midstream Partners LP (NAP) has reported second-quarter earnings of $5.9 million.   It says revenue for three month period ended June 30, 2016 increased by $4.

Safety and Preparation on the Brownwater Radar

Weather Channel Forecasters are predicting a “near-average” hurricane season for 2016, but warn that an average season does not mean businesses and residents shouldn’t prepare for the worst.

China, Russia Navies to hold S. China Sea Drills

China and Russia will hold "routine" naval drills in the South China Sea in September, China's defence ministry spokesman Yang Yujun told a news conference on Thursday.

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.

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.

Vale Q2 Profit falls 34 pct, Beats Outlook

Brazilian mining company Vale SA said on Thursday that second-quarter net income fell 34 percent as provisions for potential losses from the burst dam at its Samarco

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

ConocoPhillips cuts 2016 CapEx Again

U.S. oil producer ConocoPhillips reported a bigger-than-expected quarterly loss and cut its 2016 budget for the third time this year amid a crude oil slump that has lasted for two years.

Damen Presents Decommissioning Vessels Concept

Damen Shipyards Group has announced its latest concept design: the Damen Decommissioning Series. The vessel will specialize in three core areas of the oil and gas

French Dunkerque LNG Terminal Switched to Emergency Mode

At the Dunkerque LNG terminal, currently being tested, emergency mode was activated this night, because presence of LNG (liquid) into the flare system, causing

Hess Seeks $30-40 Mln from Schlumberger in Well Valve Dispute

Hess Corp said on Wednesday it was pursuing legal action against Schlumberger NV for as much as $40 million, claiming the oilfield service provider supplied a defective valve for a U.

Statoil Q2 Disappoints, 2016 CapEx Plan Slashed

Norway's Statoil cut its 2016 capital spending outlook on Wednesday as it posted second-quarter earnings well below forecasts, hit by persistently low crude prices.

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,

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