Ineos to Buy ConocoPhillips North Sea Assets
Britain's richest man Jim Ratcliffe's oil and gas company Ineos Group Holdings is in exclusive talks with ConocoPhillips to buy North Sea oil and gas fields worth $3 billion from the U.S. energy company.Various news paper reports say that British petrochemicals company has confirmed it is negotiating to buy several North Sea oil fields from U.S. energy giant.The Sunday Times, which first reported the story, said that the period is said to be set to three months after the entity registered in Switzerland agreed to pay a "substantial" deposit.Accoding to the Financial Times…
3sun CEO Chairs Offshore Wind SIG
3sun Group, specialist provider of products and services to the global energy industry, is reinforcing its ongoing commitment to the offshore wind industry with CEO Graham Hacon chairing a new special interest group. The Offshore Wind Supply Chain Special Interest Group (SIG) has been initiated by local trade organisation EEEGR (The East of England Energy Group) with the aim of addressing industry issues head on and encouraging local companies to work together. The group follows the successful Late Life and Decommissioning Special Interest Group…
Full-term Certificates for “MV. Ceylon Breeze” from DNV GL
DNV GL has added to its registry as of March 2016 a new vessel built for Ceylon Shipping Corporation (CSC), a fully Sri Lanka Government-owned commercial enterprise and company with a 45-year-long tradition in shipping. Bulk carrier “Ceylon Breeze” built at the AVIC Weihai Shipyard Co, Ltd China will be flying the Sri Lanka Flag, with home port Colombo and is the first of two sister vessels having a registered length of 199 metres and displacement of 63,323 DWT, the CSC said in a media announcement.
Peel Ports Tops 'Track 250' League Table
Leading UK port operator, Peel Ports Group, has been recognised as the UK’s top company in this year’s prestigious Sunday Times Grant Thornton Top Track 250 league table. Its ambitious development plans and strong financial results were key factors in the Liverpool-based business leaping 25 places ahead on its 2014 ranking. Compiled by research and networking events company Fast Track, the annual table ranks Britain's top performing private companies and entrepreneurs. The business…
Singapore: Maritime Firms Opting for Foreigners
Singapore’s perceived shortage of qualified, competitive maritime staff has come more evident, as foreign applicants often pip Singaporeans. A report from The Straits Times says that employers in the maritime sector say that foreign applicants often pip Singaporeans to the job because of a sense that they are more willing to work under the tough conditions in the industry. Last week maritime company Prime Gold International was barred by the authorities from hiring foreign workers for two years after it was found to have discriminated against Singaporeans.
Oil Prices will Produce BP Job Cuts
BP is to axe middle managers and could freeze projects as it grapples with the plummeting oil price, The Sunday Times reported, citing finance director Brian Gilvary. "What you'll see with this simplification plan is that headcounts are starting to come down across all of our activities in upstream, downstream and in the corporate centres -- essentially the layers above operations," the newspaper quotes Gilvary as saying. On Wednesday, BP will update on its exploration and production plans until 2010. Gilvary told the newspaper the oil price drop was not likely to affect its long-term plans but some projects could be delayed or scrapped. "We have got flexibility to trim into next year if that's what we need in a new world of oil at $70 or $60 (a barrel)," he said.
WRS Named a Best Company to Work For
Worldwide Recruitment Solutions (WRS), a recruitment company specializing in talent acquisition across the oil and gas, mining, marine and power sectors globally, was listed as the U.K.’s 18th best small company to work for at the Sunday Times 100 Best Small Companies to Work For 2014 awards ceremony on February 26. WRS was also awarded a three-star rating (the maximum available) for its employee engagement, care and staff satisfaction. A total of 897 businesses registered to take part in the Sunday Times’ four surveys; the leading 325 were recognized in four lists: “100 Best Companies to Work For;” “100 Best Small Companies to Work For…
Senergy Makes Several Shifts in Senior Management
Energy services company Senergy added a number of appointments to its senior management team with to consolidate its position for future growth. The company, which provides fully-integrated project and asset development services across the energy industry, anticipates creating up to 80 new positions by the end of May, as a result of increasing demand for its services. Senergy applies its expertise and technology to develop and manage oil and gas fields and alternative energy projects in partnership with its clients.
Marine Managing Director Awarded an MBE
Patrick is currently involved in a number of business activities, which include the role of Managing Director for Munster Simms Engineering as well as working on behalf of Invest NI, and a number of privately owned manufacturing companies as an Independent Business Advisor. As a co-owner of Whale (Munster Simms Engineering Ltd) Patrick’s innovative vision has resulted in increasing turnover by 48% between 2009 and 2011 as well as increased workforce by over 50% since 2008. Hurst’s…
International Track 100 Recognizes Pole Star
Pole Star Space Applications Ltd.has been recognized as one of Britain’s best performing companies, according to the Sunday Times International Track 100. The league table ranks 100 UK-based private companies with the fastest-growing international sales in the last three years. Pole Star was the sole maritime industry representative included from a database of 2 million privately-held businesses. The company provides satellite monitoring systems to the global maritime industry, delivering fleet management, security and asset management services to over 24,000 vessels world-wide. Colin Hook, Chairman of Pole Star Space Applications said, “Pole Star has secured an international reputation for providing leading-edge satellite-enabled safety and security services to the maritime industry.
Colombo Dockyard’s Revenues Rise
According to a report from the Sunday Times, Colombo Dockyard, of which Japan's Onomichi Dockyard has a 51% stake, has released its financials for the twelve months to end-December 2010, indicating a group revenue of Rs. 14.5b, compared to Rs. 13.49b for the same period last year. However, it was an increase in group cost of sales to Rs. 11.22b, from Rs. 9.98b. (Source: the Sunday Times)
Noble Denton Honored
Noble Denton Group has joined an elite group of British businesses as it secured 59th place in this year’s Sunday Times Deloitte Buyout Track 100 list. Now in its second year, the prestigious league table ranks Britain’s top 100 private equity-backed mid-market companies with the fastest growing profits (EBITDA) over two years. The research analyses the profit performance of private equity-backed companies, rather than just the buyout deals. Noble Denton is one of 12 energy firms on the list and achieved 39.9% annual profit growth in 2006. The company joined forces with two Norwegian private equity firms, HitecVision and Ferncliff TIH in the same year.
Labor Shortages Hit Shipbuilding Industry
WA-based shipbuilder Austal said that it would use its newly acquired Margate shipyard near Hobart to supply lucrative military contracts in preference to its WA shipyard in Henderson because of the shortage of skilled labour here and indications that the shortage would worsen. The 56m border patrol boat HMAS Launceston, which Austal built in Tasmania and officially commissioned this week, was the 12th under its soon-to-be-completed contract for the Australian Defence Force. [Source: The Sunday Times]
P&O A Takeover Target
THE UK's largest ports and ferries operator was reported to be a £3 billion takeover target of a Middle Eastern rival. P&O could receive an approach from Dubai Ports World (DPW) as soon as this week after it hired Deutsche Bank to advise it on a bid, according to The Sunday Times. The Middle Eastern firm is understood to have contacted banks about financing a bid for P&O, which owns 27 container terminals around the world including Southampton and Tilbury in the UK. Takeover interest in UK ports firms has spiralled this year with Mersey Docks & Harbour - the owner of ports at Liverpool, Heysham and the Medway towns of Sheerness and Chatham - bought by Manchester-based Peel Holdings for £780 million.