Shell returns to deepwater drilling

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.

Vessel sale increases SBM Offshore's earnings

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.

Trafigura to build large oil terminal in Texas

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.

Prosafe lands deal with Cosco for problem rigs

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.

Last week's top stories on ShippingWatch

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.

Petrobras reports biggest profit since 2011

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.

Subsea 7's bottom line down almost 50 pct in Q2

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.

BHP Billiton sells US shale assets to BP

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.

Equinor earns USD 4.3 billion on operations in Q2

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.

Norwegian offshore strikes are over

A major offshore strike in Norway ceased Thursday afternoon, after a solution was reached between Norwegian Shipowner's Association and a union.

Latest news


See all

See all