Aramco to give green light for world's biggest IPO next week
The board of Saudi Aramco is expected to give final go-ahead to the oil giant's massive IPO next week.
ShippingWatch
A part ofWatch Medier
The board of Saudi Aramco is expected to give final go-ahead to the oil giant's massive IPO next week.
Revenue in the Norwegian oil service sector increased last year for the first time since 2014. But the peak level seen in 2014 is still far off, concludes a new report.
Maersk Drilling has previously announced that it is looking into potential acquisitions, but in an interview with Bloomberg News, the company's CEO says there is no rush.
A federal court has closed a case against Dutch SBM Offshore filed by the Brazilian Public Prosecutor's Office. The case emanates from a prolonged bribery case, which has already cost the Dutch company a USD 238 million fine.
.jpg)
The CEO of global oil group Total confronts politicians unfiltered. He is tired of governments and parliaments that talk about the "climate crisis" without making any decisions.
.jpg)
The Norwegian sovereign wealth fund wants to trim its organization by dismissing 100 personnel by late 2022, corresponding to one in six employees.
A group of French banks have submitted an acquisition offer for offshore company Bourbon, which is insolvent and working on a restructuring.
Norwegian offshore ship operator DOF summons its bondholders to a meeting to postpone payments. Meanwhile, a major shareholder of subsidiary DOF Subsea says it is ready to inject millions of dollars into the company.
Both Njord Future and Martin Linge will be far more expensive than planned, according to new figures from the Norwegian state budget. The total overrun now amounts to more than EUR 2.9 billion. Operator Equinor refers to factors including safety.
ExxonMobil kicks off large-scale LNG project in Mozambique with initial investment decision. Project costs could reach USD 33 billion and thus be the biggest ever on the continent.
.jpg)
Oil field Johan Sverdrup has now seen the first barrels of oil extracted after years of preparation. "At peak, this field will account for around one third of all oil production in Norway," says Equinor CEO.
BP CEO Bob Dudley is preparing to retire from the oil and gas supermajor and will be replaced with Bernard Looney, who is being promoted from within the group.
Offshore supplier Subsea 7 acquires another subsea company, which will assist the firm in efforts such as its digital transformation. The acquisition will continue as an independent brand, however, retaining its current CEO.
The global crude supplier has restored its output volume to roughly 10 million bpd. Saudi Arabia has thereby reestablished its level from before last month's attack on Aramco.
Hitecvision, Norway's largest acquisition fund and owner of Vår Energi, has been told by its investors to pursue investments in more than just oil. "We're told that we don't stand a chance if we don't do it," says CEO, who now earmarks a billion dollars for the purpose.
Norway's sovereign wealth fund gets the go-ahead to sell oil and gas stocks for a value of close to USD 6 billion after a two-year process that has seen an initial proposal to offload all its oil investments be reduced to what amounts to a smaller investment.
Offshore has traditionally accounted for most of Norwegian state export bank GIEK's activities. But the offshore portfolio has dwindled in recent years, and the trend will probably continue, CEO Wenche Nistad tells ShippingWatch.
The organization of petroleum exporting countries is set to become smaller, as Ecuador says it will leave the cartel in January in order to boost its oil revenues.
The recently merged company sells off Norwegian gas infrastructure assets to streamline its portfolio, Wintershall DEA informs.
Growth in offshore company Esvagt's wind business will accelerate, as the company aims to gain 70 percent of its revenue from wind by 2025. More work for the shipping company's SOVs in particular will increase activity levels, CEO Peter Lytzen tells ShippingWatch.
Vår Energi's acquisition of ExxonMobil's oil fields will be far from the latest example of acquisitions on the Norwegian shelf, projects consulting firm PwC to Norwegian media.
Three of the crew members reported missing after a Bourbon-owned vessel sank have been found dead. Ten crew members are still missing. Updated.
As a shareholder in both Frontline and Scorpio Tankers, Trafigura might be able to make a quick profit in a market, in which the inauguration of major oil field Johan Sverdrup in a few weeks is boosting spirits among tanker shipping companies. But the role of shareholder also comes at a risk.
An offshore vessel owned by French Bourbon has sunk in the Atlantic, confirms the shipping company. Three crew members have been found alive, while 11 remain missing.
French Bourbon has managed to lower its number of stacked ships in the first half of the year. But the shipping company, which is in the midst of a larger rescue plan, has booked another significant deficit for the first six months and continues to struggle with low fleet utilization.
Cash Management Specialist
Head of Business Intelligence
Accountant to TORM
Bunker Broker - Liberty Marine Fuels 
Head of Finance & IT - Clipper
Managing Director Copenhagen
Legal Consultant for CO-Sea
