Offshore Energy

U.S. Oil Rig Cut Deepens in 7th week of Declines

U.S. energy firms deepened their cuts in oil drilling rigs in the seventh week of declines to the lowest levels since March 2010, data showed on Friday, as they

Flangeless Subsea Plug Launcher for Pipeline Upgrade

Balltec Engineered Solutions announced it has completed work using its subsea smart plug launcher. The flangeless subsea plug launcher technology played a critical

EU Clears Schlumberger's Acquisition of Cameron

The European Union executive on Friday cleared the purchase of equipment maker Cameron International Corp by Schlumberger, the world's No.1 oilfield services provider.

BG Profits Slip Before Shell Takeover

BG beats 2015 production target thanks to Brazil, Australia. Britain's BG Group, in its last results update before its takeover by Shell, reported a 22 percent

Loss-Making Production Unlikely to be Shuttered

Even as millions of barrels of oil are pumped at a loss at current prices, only a fraction of the production has been shut, industry research group Wood Mackenzie said on Friday.

Oil Steady, Weak Fundamentals Weigh

Speculative activity largely behind price volatility. Oil steadied on Friday in a volatile session, as bearish fundamentals pressured prices despite bullish indications earlier in the week.

Total Consortium Bids for Greek Offshore Block

France's Total in a consortium with Greece's Hellenic Petroleum and Italy's Edison has bid for one offshore gas drilling block in the west of Greece, an official

AAL Delivers First Cargo Shipment for PDVSA

Leading multipurpose shipping operator, AAL, has successfully delivered its first shipments of heavy lift cargo, destined for the Petroleos de Venezuela SA (PDVSA)

HHI to Localise Main Equipment for Offshore Plants

Hyundai Heavy Industries and Doosan Heavy Industries Collaborate in Localizing Main Equipment for Offshore Plants   Seoul, South Korea – February 4 – Hyundai Heavy Industries (HHI),

Total Conducting Seismic Testing on Congo Oil Block

French oil major Total is conducting seismic testing on a block it operates in northeastern Democratic Republic of Congo, a company spokeswoman confirmed on Thursday,

Swiber Completes S. American Subsea Project

Swiber Holdings Limited has completed a multi-million dollar platform and subsea pipeline installation project in South America. The platform is considered to be

FUGRO Wins BHP Pyrenees Contract

Fugro has been awarded a contract by BHP Billiton Petroleum Pty Ltd for the Pyrenees Phase 3 Installation Project.   The Pyrenees development is located offshore Western Australia,

EnBW Wins Contract for Iberdrola Offshore Wind Park

EnBW, Germany's No.3 utility, has won a services contract for Iberdrola's offshore wind park Wikinger, banking on its track record in building and operating renewable

Statoil Beats Street, Shares Jump

Beats forecasts with Q4 adjusted EBIT; shares in best performance in seven years. Statoil cheered investors on Thursday with better-than-expected profits, progress

Statkraft Eyes Domestic Wind Investments

Norway's Statkraft is still considering investing in a 1,000-megawatt (MW) onshore wind power development at home despite scaling back its international ambitions to pay a full dividend,

Dong Energy Projects 2017 Positive Cash Flow

Denmark's Dong Energy, which confirmed plans to press ahead with an initial public offering, expects positive cash flows from its struggling oil and gas division in 2017,

Statoil Cuts Spending, Offers Shareholders Dividend Options

Norway's Statoil pledged on Thursday to keep cutting capital spending as oil prices fall, after reporting better than expected fourth-quarter results, and said

Oil Slips Below $35, Output Cut Hopes Fading

OPEC's Venezuela lobbies for producer meeting to cut output. Oil slipped below $35 a barrel on Thursday after the previous session's 7 percent jump, pressured

U.S. Oil & Gas Sheds 100K Jobs in Slump

The number of people employed in oil and gas extraction and support activities across the United States has fallen by around 100,000 since October 2014. Between October 2014 and November 2015,

ConocoPhillips cuts Dividend, Lowers CapEx Budget

Lowers 2016 budget to $6.4 bln from $7.7 bln. ConocoPhillips further lowered its capital budget for 2016 and slashed its quarterly dividend as a relentless fall

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