Svend Anton Maier steps down as CEO of Borr Drilling. He will, going forward, serve as consultant to the rig company's new chief executive, who has a past at oil service company Schlumberger.
The Norwegian oil giant has already found a new CEO after Eldar Sætre has announced his resignation. The CEO steps down from a 40-year career at Equinor, where he has set an ambitious course for the coming decades.
Oil companies' cost reductions to get through the tough market conditions could mean that one in six employees in the Norwegian oil industry must find a new job, projects Rystad Energy analyst.
Aker Solutions' newly formed offshore wind firm plans to establish 1.7 GW in Norway and has found a joint venture partner to bid alongside in the Scottish licensing round.
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Rig company Noble Corp, which filed for Chapter 11 in the US last week, lost a little over USD 1 billion on the bottom line in the first half of the year, during which major impairments strained financials. CEO sees the company making it to the other side "as a stronger company".
The world's biggest commodity trader, Glencore, will not pay out dividend in 2020 due to soaring debt accrued in an effort to protect the company from the effects of the coronavirus.
Demand to install offshore wind turbines at sea is far greater than the orderbook for ships that can install the turbines. As such, there is potential in moving in this direction, says Clarksons Platou. The broker has already publicly praised one shipping company for doing so. Updated.
It was in many ways extraordinary when the first part of the Tyra platform was lifted onto the world's largest construction vessel and towed to port. See pictures of the process all the way from the North Sea and to its destination, Mars' scrap yard in Frederikshavn, Denmark.
Huge amounts of environmentally harmful methane are spewing out from oil wells no longer active, according to a German study.
Rig operator Diamond Offshore Drilling, which is under Chapter 11 in the US, continues negotiations for a rescue plan, though the company cannot guarantee that it will be settled. The company lost USD 1 billion in the first half of the year.
For the first time since the Deepwater Horizon catastrophe, the British oil giant reduces its shareholder dividend following a major billion-dollar loss in the second quarter and upstream impairments of USD 6.5 billion.
The drilling market has been hit hard by a large oil price drop and the coronavirus crisis, and this now means that yet another major player has to file for Chapter 11. Another big company could follow suit.
Maersk Drilling's CFO Jesper Ridder Olsen steps down after a couple of years with the company.
US-based Big Oil companies ExxonMobil and Chevron both present major deficits and revenue levels rubbed out by the Covid-19 pandemic and associated crash in crude demand.
After booking nearly USD 1 billion in earnings before interest and tax in oil trading during the first six months of 2020, Glencore now says trading profit will be at the top end of its target, after the commodity giant reaps the benefits of spring's contango market.
Prosafe's deal with creditors to cancel debt payments of around USD 1.5 billion expired today, Friday. The company remains in "constructive" dialog with its lenders on a solution, however.
The interim reports for the world's largest energy companies have started ticking in, and they bear witness to a serious setback for the industry in recent months. In the second quarter alone, oil supermajors Shell and Total booked impairments totaling USD 25 billion.
Odd trips taken by tankers hauling diesel fuel signal how glutted the market for the fuel is right now. One vessel made a double U-turn, while another sailed across the world only to make an abrupt change of change course.
The French oil supermajor takes an extraordinary impairment worth USD 8.1 billion on Canadian tar sand assets.
Subsea 7, in which Norwegian Kristian Siem owns a considerable stake, has presented a deficit for the first quarter of more than USD 900 million and plans to divest ten vessels in order to get through the crisis.
The Swedish oil company defies some of the lowest oil prices to date and practically doubles its post-tax result in Q2.
With a new investment in US-based company Clean Energy Systems, Maersk Drilling will participate in developing a carbon-negative concept involving underground storage.
The Vibe oil drilling is postponed until next year because the covid-19 pandemic got in the way, Wintershall Noordzee CEO Robert Frimpong tells EnergyWatch.
Not everyone understands why Norwegian oil giant Equinor works based on a price projection that is incompatible with the Paris agreement.
Major oil companies including Equinor, Shell and commodity trader Glencore make sky-high profits from so-called contango plays following the oil price collapse.
Operations Manager - MOL Chemical Tankers
Experienced accountant / accounting manager - Navision Group
Head of Finance for International Shipping Company - J. Lauritzen
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