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Offshore

DOF loses NOK 4 billion in the first quarter

The global pandemic and the collapse in the oil price make struggling DOF book a large impairment. Combined with a big exchange rate loss, the company reports a deficit of more than NOK 4 billion in the first quarter.

Maersk Drilling's top line recedes in tough first quarter

Lower rates put a strain on Maersk Drilling's revenue in the first quarter of the year, and the company has since been notified of early contract terminations. Maersk Drilling recently announced that it plans to lay off people in the North Sea as well as onshore.

Prosafe books another major impairment

Norwegian offshore company Prosafe impaired its fleet by USD 810.5 million in the first quarter. The company requests a further extension on payment of its billion-dollar debt until the end of June.

Large impairment lowers BW Offshore's result

The BW Group's offshore company made a large impairment on its fleet in the first quarter. The impairment was largely made due to uncertainty caused by recent events in the market.

BP to halve its managing staff

The British oil supermajor's new CEO wants to cut the number of managerial employees dramatically and remove a number of his predecessor's top people.

Prosafe presents new business plan to its creditors

Debt-plagued offshore company Prosafe has presented its creditors with a new restructuring plan, which will help ensure a healthy business in the long term. The company is currently hit by the low oil price.

Boskalis is cautiously optimistic about 2020

While several companies and sectors have been hit hard by the coronavirus crisis, the impact on Dutch Boskalis' business so far has been "relatively limited". The company is cautiously optimistic about the rest of the year, though it expects to be affected by the coronavirus crisis and oil price plunge.

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