Aker Solutions awarded Chinese umbilical contract
Norwegian oil service company Aker Solutions will install 35 kilometers power umbilicals for a Chinese oil company in the South China Sea.
ShippingWatch
A part ofWatch Medier
Norwegian oil service company Aker Solutions will install 35 kilometers power umbilicals for a Chinese oil company in the South China Sea.
Break-even prices are now so low that oil major Shell is once again ready to invest in deepwater drilling, which can compete with or deliver higher returns than shale, Shell's head of exploration tells Financial Times.
The two Norwegian subcontractors have secured extension of a contract with Equinor for utility and commissioning work related to the riser platform in giant field Johan Sverdrup.
SBM Offshore's earnings grew in the first half of the year, partly due to the sale of an FPSO vessel. At the same time, the company expects the recovery in the offshore market to continue.
Swiss-based commodity trader Trafigura has filed for permission to build a terminal in Texas which can be used by the largest oil tanker vessels. The project will facilitate the growing export of US crude oil.
Equinor is poised to make more money during the 2018-2020 period than the previous 17 years, if the oil price maintains its current level, says an analyst from Pareto.
Accommodation rig company Prosafe has settled a large deal with Cosco's yard in Qidong, which provides some financial buffering for Prosafe and will halt repeated delays of hotel rig deliveries.
DFDS is bracing itself for long lorry queues in Dover after Brexit, bad bunker reached the world's largest bunker port and DSV's guidance upgrade were among this week's top stories on ShippingWatch. Also read about Kontainers, which will challenge startups such as US firm Flexport.
Surging oil prices pushed the Brazilian oil major's net income to a seven-year high in the second quarter of 2018, while the company's debt was significantly reduced in the first half of 2018.
There were expectations of a smooth summer and a particularly good July, after the fleet of anchor handling vessels lost billions in recent years. But the season looks set to disappointment.
Norway has made the first deposit to its huge wealth fund in close to three years at a time when increasing oil prices and a recovering economy again benefits oil producing nation.
Swiss-American drilling company Transocean emerged from Q2 with a loss of millions of USD on the bottom line after a USD 1 billion impairment. CEO Jeremy Thigpen is positive about the future, however.
Oil major Aker BP, owned by parties including BP and shipping investor Kjell Inge Røkke's Aker Group, has acquired 11 licenses on the Norwegian shelf from France's Total.
The OPEC members' output reached its highest level this year in July. An even larger oil output could result in a temporary production halt and force prices up.
The Luxembourg-based offshore shipping company saw its bottom line decline significantly in the second quarter with fewer finished projects and lower prices. But the number of new orders in the market has increased, says CEO Jean Cahuzac.
Oil company BP is buying US shale assets from BHP Billiton worth USD 10.5 billion, writes Financial Times. An "important step" in BP's goal to increase capacity for oil drillings, says CEO Bob Dudley.
Saudi Aramco may tap into the international bond market for the first time to finance the acquisition of petrochemical giant Sabic, the move could prove an alternative to an initial public offering, according to sources.
Equinor has booked adjusted earnings of USD 4.3 billion in the second quarter. The result is the best since 2014 according to Norwegian media E24, however it is lower than analyst expectations. The company has made a sizeable impairment in the US. Updated 14:06 CET.
The US-based oil service corporation has grown both its revenue and profit in Q2.
A major offshore strike in Norway ceased Thursday afternoon, after a solution was reached between Norwegian Shipowner's Association and a union.
A subsidiary of the relatively newly-merged Norwegian offshore service and supply carrier Solstad Farstad has landed a debt restructuring agreement.
Crude prices may be down, but European oil companies seem to be weathering the slump.
The biggest independent oil trader, Vitol Group, is joining forces with mining giant Peabody Energy Corp to breathe new life into coal.
None of the involved parties in the Norwegian oil rig labor dispute have budged. The trade organization for Norwegian Shipowner's is now considering a lockout, which has not happened in years.
IT Operations Manager for International Shipping Company - J. Lauritzen
Legal Counsel - Swire Blue Ocean A/S
Experienced Chartering profile - Norient Product Pool ApS
Operations Specialist - Laytime - NORDEN
