Jim Hagemann Snabe has too many activities beyond serving as chairman of A.P. Moeller-Maersk, says major Norwegian investor KLP, and the company thus refrained from voting for Snabe at the recent Maersk general assembly. Read here how other shareholders stand on the Maersk chairman's various board postings.
Pressure from Saudi Arabia is sending the global oil price up. More price increases could be on the way.
A court in Houston approved Seadrill's rehabilitation plan Tuesday, and the company expects to leave its Chapter 11 status behind within 90 days.
Solstad Farstad warns on Tuesday that its subsidiary Farstad Shipping will likely not be able to fulfill the loan agreements with its banks.
Rig company Odfjell Drilling has signed a deal with Statoil to drill six wells.
Statoil is intensifying its search for new oil fields both on the Norwegian shelf and globally, reports Norwegian media Dagens Næringsliv. The company plans to take bigger risks and hopes to break from the trend of small discoveries.
Two of the world's biggest oil and gas companies are teaming up in an alliance. To begin with, the cooperation aims to boost business mainly in Brazil.
John Fredriksen's strained rig company Seadrill booked a massive impairment in 2017 of more than USD 1.5 billion, according to the annual report.
The new joint venture between Maersk's drilling company and offshore carrier announced Thursday should be seen as a sign that the Maersk family will end up buying the two companies, analyst tells ShippingWatch.
Norway's Statoil and France's Total have gone on quite a shopping spree in the Gulf of Mexico. The companies are taking over a deepwater field from a US bankruptcy.
Maersk Group's two offshore companies Maersk Drilling and Maersk Supply Service launch new joint venture aimed at decommissioning oil fields.
In an open letter to the EU, several European parliamentarians warn against lowering the ambitions concerning CO2 emissions. Countries pulling in the wrong direction are gaining ground, says one MEP.
The oil major has committed to two new North Sea developments, which are expected to produce 30,000 barrels of oil per day.
The offshore company has signed contracts in Nigeria as well as off the Shetland Islands. The contracts will bring in at least USD 200 million altogether.
Statoil could run into obstacles in the firm's attempt to change its name. Politicians in Norway have their doubts about the idea.
John Fredriksen's rig company Seadrill, currently under Chapter 11, has obtained full support from its creditors for the rescue plan the company has been working on for months, informs Seadrill in a stock exchange update Monday morning CET.
Middle Eastern state Bahrain has made one of the biggest oil discoveries in years. But the field containing 81.5 billion barrels of oil cannot be utilized with today's technology and the question is whether or not the oil will ever be extracted.
Oil major Statoil has signed letters of intent for the development of Johan Sverdrup with Aibel and a joint venture between Aker Solutions and Kvaerner.
The sale of Maersk Drilling is plagued by problems, and several obvious candidates for a partnership have withdrawn from the process, reports Berlingske Business.
Book values of offshore ships often do not correspond with reality, shipbroker Clarksons Platou Offshore tells Sysla. Numerous brokerages now decline to valuate the ships.
Major oil fields in the North Sea could be impacted by strikes which may take effect in Norway from Sunday. The Mongstad oil supply base could be hit hard by a full-fledged strike.
The Norwegian oil major has distributed over EUR 1 billion worth of contracts across 18 platforms to Archer, KCA Deutag and Odfjell.
Former chief executive of Maersk Oil Gretchen Watkins stepped down from the position when Maersk sold its oil business to France's Total. Now, she has secured a new executive position.
It would be possible for the shipping industry to become virtually carbon neutral by as early as 2035, according to a new report from the International Transport Forum under the OECD. Several different scenarios could pave the way.
René Kofod-Olsen, CEO of Topaz Energy and Marine in Dubai, projects better days for the offshore supply sector after a setback last year.
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