Iraq rocket explodes near Exxon oil field workers' camp
Wednesday morning, a rocket hit an ExxonMobil workers' camp in Basra, Iraq. ExxonMobil is evacuating all foreign workers.
ShippingWatch
A part ofWatch Medier
Wednesday morning, a rocket hit an ExxonMobil workers' camp in Basra, Iraq. ExxonMobil is evacuating all foreign workers.
The value of offshore vessels has dropped considerably following the collapse of the oil price nearly five years ago. An older ship now costs less than USD 0.5 million, while the crisis has also kept newbuild prices in check, shows an evaluation by Vessels Value.
Equinor has found oil and gas in the same well in the Norwegian Sea, informs the partly state-owned company Monday. The discovery includes oil equivalent of up to 60 million barrels.
In May, South Korea, one of the world's biggest oil importers, stopped importing oil from Iran due to US sanctions against the country.
85 percent of contracts in the second phase of giant Norwegian oil field Johan Sverdrup have been awarded to Norwegian companies.
OPEC notes that the trade war has caused oil demand to dip, but the oil cartel expects demand to increase for the full year – although less than previously estimated.
The US state of Connecticut passes a bill to raise its target for offshore wind, allowing expansion of wind farms. This is in line with the strategy of wind service ship operator Esvagt, which is to expand to the US, CEO tells ShippingWatch.
The oil price soared from close to a five-month low on the news that two tanker vessels were damaged in an attack in the Gulf of Oman.
The US Energy Information Agency is lowering its forecast for global oil demand in 2019, according to Reuters. US oil inventories rise above expected levels.
Oil company Equinor's chief executive, Eldar Sætre, eyes an oil market where trade disputes trigger large fluctuations in the oil price. The CEO is looking forward to the outcome of OPEC meeting, reports E24.
Oil major Shell has shipped its first cargo from major Australian LNG project Prelude. The project is expected to produce 3.6 million tons of liquefied natural gas annually.
Offshore oil and gas bankers in Oslo are warning that the industry is far from out of the woods as a recovery is slow to take hold.
Rig company Seadrill has just appointed a new CFO with experience from companies in the oil and offshore industry.
Kristian Siem, major investor in Siem Offshore and Subsea 7, is prepared to help Norwegian offshore shipping company Solstad Offshore, which has for a long time been struggling with a large debt, reports E24.
The price of oil has dropped to the lowest level since January following US oil production reaching a record high.
Extraction from the largest gas field in recent British history will commence in a few days, asserts Total – ahead of schedule and below budget.
Norwegian oil major Equinor won five UK shelf permits in the 31st licensing round – four as operator and one as partner.
Offshore rig company Prosafe wants to join with Floatel International. The merger will create a new major player in leasing hotel rigs to the oil industry. The Lauritzen Foundation is a major shareholder of Prosafe.
An extensive strike, potentially leading to big production losses in Norway, has been avoided, as parties have reached agreement following lengthy negotiations.
The matter of wages has created a breakdown in negotiations between the Norwegian Shipowners' Association and rig employees' labor union association. Workers demand a share of the blooming recovery in the offshore sector. But there is no basis for that, say employers.
Director General of the Norwegian Petroleum Directorate Bente Nyland forecasts up to 21 new or expanded oil and gas fields by late 2021.
Rig operator Borr Drilling has secured financing for its newbuild program with a new credit facility of USD 645 million. Despite a deficit in the first quarter, management is optimistic about the future.
Strained offshore shipping company Solstad Offshore started 2019 with a large deficit. The shipping company is struggling to settle a comprehensive restructuring plan and is trying to extend a suspension of debt payments.
Major investments in Norway's oil and gas industry are expected to be higher in 2019 than previously estimated, shows a new forecast from SSB.
Companies with large exposure to the oil sector are more optimistic than the average. 73 percent expect increased activity and earnings next year.
Executive, Operations - BW LPG
Treasury Risk Manager with focus on financial risk management - Group Treasury, Bunker Holding
