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Thursday, March 28, 2024
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Offshore Oil Service Sector News

24 Sep 2014

Savvy Fuel Management Fuels TOTE’s Growth

As Tote pioneers the use of natural gas as a marine fuel with two groundbreaking projects, Anthony Chiarello combines the strength and diversity of the Saltchuk group of companies with a forward-thinking, environmentally correct Tote business plan. As TOTE prepares to bring the world’s first natural gas-powered containerships to the maritime industry, the firm will also be the first to convert its existing fleet to run on natural gas. Two Orca Class vessels, operated by Totem Ocean Trailer Express (Totem Ocean) in the Alaska trade, will be converted with minimal time out of service and return as the most environmentally advanced ships in the nation.

01 Aug 2001

Norwegian Petro Geo-Services Shares Dip 5.2 Percent

Shares in Norwegian offshore services and seismic firm Petroleum Geo-Services (PGS) slid on Wednesday on concerns that the sector could be hit by a U.S.-led slowdown, analysts said. The company's shares were down 5.2 percent on the Oslo bourse at 91.0 Norwegian crowns ($10.01), falling in line with other companies in the international sector. The Philadelphia Oil Service Index, which is comprised of the biggest companies in the U.S. offshore oil service sector, was down 4.20 percent on Tuesday; at the same time the Oslo all-share index was up 0.14 percent. PGS, with core businesses in geophysical services and production services, was hit on the back by a sharp profit warning on Tuesday from Veritas, a PGS peer company based in Houston, Texas.