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Offshore

Maersk Drilling's CEO in no rush to shop

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.

Brazilian court closes case against SBM Offshore

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.

Giant Norwegian field commences extraction

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 replaces Dudley with Looney

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.

Subsea 7 acquires subsea firm and lands deal with Shell

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.

Saudi oil output back to pre-attack levels

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 to bet green after clear message from investors

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 wealth fund gets nod to sell USD 6 billion in oil stocks

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.

Esvagt to get most of its revenue from offshore wind by 2025

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.

Pressured Bourbon reduces stacked fleet

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.

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