Maersk Supply Service has launched a joint venture with utility Ørsted set to launch floating charging stations for ships. The company aims to supply 50-100 ports with chargers as part of the Maersk subsidiary’s transition away from oil and gas. Updated.
Crude prices have already surged 10 percent this year due to concerns regarding tighter supply.
Norwegian oil company Lundin Energy has completed a significant write-up of its oil reserves compared to 2020.
Seadrill New Finance comes out of US bankruptcy protection under Chapter 11. The company will be renamed in the near future.
Seadrill New Finance comes out of US bankruptcy protection under Chapter 11. The company will be renamed in the near future.
Norwegian hotel rig provider Prosafe, which completed a large-scale restructuring in December, comes out of 2021 with the highest fleet utilization in six years.
A record-high number of offshore wind installation ships were ordered in 2021, reveal figures from Clarksons Platou, also showing increased day rates for larger vessels.
Back in 2019, a gas cylinder exploded on the Heimdal platform. Two of Eqiunor’s employees were injured in the accident. Now a decision has been made in the case.
The global oil markets appear to be tighter than previously estimated due to demand surprisingly being only mildly affected by the Omicron strand of the coronavirus and supply disruptions.
Oil company ExxonMobil commits to "net-zero" emissions from its operations in 2050. Target counts all the company's business areas, though not its collaborators and customers.
European benchmark crude Brent surges to a seven-year high on heightened demand and amid concerns spurred by an alleged drone strike on the United Arab Emirates.
Merger between Maersk Drilling and Noble Corporation is one step closer following Norwegian authorities' approval.
After increasing for two days, oil prices settled Thursday morning, as uncertainty about the highly contagious Omicron variant once again gripped the market.
A group of rebellious minor stakeholders have grown to have such a voice among offshore carrier DOF's shareholders that they could block a restructuring of the company, reports Norwegian media.
The price of a barrel of crude is up Monday as the market worries about supply disruptions due to Kazakhstan and Libya.
The Norwegian oil company expects to extract between 21 to 33 million barrels of oil from the new North Sea discovery.
Oil was poised for a third weekly gain as the market tightened due to supply constraints across OPEC+ members following civil unrest.
John Fredriksen's investment company acquires additional shares in US drilling firm Valaris, which recently appointed former Seadrill CEO as its new chief executive.
After CEO Robert Bugbee decided to get rid of Scorpio's large dry bulk fleet and invest billions in wind turbine installation vessels, bulk carriers have been swimming in large profits. Still, he maintains in an interview with ShippingWatch that the shift was the only right move.
The 23-nation OPEC+ alliance led by Saudi Arabia and Russia approved a 400,000 barrel-a-day increase scheduled for February at a meeting on Tuesday.
Shipping magnate John Fredriksen reduces his stake in Norwegian Solstad Offshore yet again and is left with a minuscule share of the company, according to Oslo Stock Exchange announcements.
US drilling firm Valaris has signed new, extended contracts with ARO Drilling on four jack-up rigs without disclosing the contract values.
The business model of oil firms isn't tenable in the long term due to the green energy transition, pension provider Pensam tells ShippingWatch, and the company's current exclusion list features oil outfits like Aker, Equinor and Chevron.
The country's continental shelf could be the site of 25 new oil and gas projects in 2022, seeing hitherto unseen levels of cash flow, deems Wood Mackenzie analysts. The crisis package from Oslo is driving much of the development, however.
One factor driving prices upwards is limited supply from Libya, expected to hit the lowest level in a year after the country closed its largest oil field.
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