Snabe criticized for board positions beyond Maersk

Jim Hagemann Snabe has too many activities beyond serving as chairman of A.P. Moeller-Maersk, says major Norwegian investor KLP, and the company thus refrained from voting for Snabe at the recent Maersk general assembly. Read here how other shareholders stand on the Maersk chairman's various board postings.

BP and Petrobras form alliance

Two of the world's biggest oil and gas companies are teaming up in an alliance. To begin with, the cooperation aims to boost business mainly in Brazil.

Subsea 7 wins new contracts

The offshore company has signed contracts in Nigeria as well as off the Shetland Islands. The contracts will bring in at least USD 200 million altogether.

Seadrill gets full support from creditors for rescue plan

John Fredriksen's rig company Seadrill, currently under Chapter 11, has obtained full support from its creditors for the rescue plan the company has been working on for months, informs Seadrill in a stock exchange update Monday morning CET.

Giant oil discovery in Bahrain could remain buried

Middle Eastern state Bahrain has made one of the biggest oil discoveries in years. But the field containing 81.5 billion barrels of oil cannot be utilized with today's technology and the question is whether or not the oil will ever be extracted.

Suitors for Maersk Drilling staying away

The sale of Maersk Drilling is plagued by problems, and several obvious candidates for a partnership have withdrawn from the process, reports Berlingske Business.

OECD: How shipping can be CO2 neutral by 2035

It would be possible for the shipping industry to become virtually carbon neutral by as early as 2035, according to a new report from the International Transport Forum under the OECD. Several different scenarios could pave the way.

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