Noble sells five rigs

Maersk Drilling’s merging partner Noble sells five rigs. Divestment of rigs is a precondition for having the merger approved by UK competition authorities.

J. Lauritzen appoints Kristian Mørch as new CEO

Lauritzen Fonden’s investment company, J. Lauritzen, appoints Odfjell’s former top executive Kristian Mørch as new CEO. According to the foundation’s CEO, Tommy Thomsen, the stage is set for growth.

Global recession concerns lower oil prices

Oil trades lower resulting from recession concerns after the Federal Reserve interest rate hike of 75 percentage points – a hawkish move soon echoed by both Swiss and UK central banks, says analyst.

Russian fossil fuel income hits record during war

Despite economic sanctions against the country, Russia has never before made as much money on exporting fossil energy as is the case during the war against Ukraine, writes think tank CREA in a new report.

Lockdown in Shanghai dampens oil prices

Expectations of additional lockdown measures in Shanghai to curb the spread of Covid-19 have had a stronger impact on oil prices than the strong fuel demand in the US.

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