Siem Offshore turned a deficit into a profit in the third quarter despite a lower top line and operating result compared to the same period last year. The offshore market is still struggling with an oversupply of ships.
By 2050 at the latest, Danske Bank's loan portfolio must be fully CO2 neutral. The bank, which provides loans to shipping as well as the oil and gas sector and also supports the Poseidon Principles, isn't ready yet to set out short-term intermediate targets on the road towards CO2 neutrality.
Offshore carrier Viking Supply Ships secures fresh capital from the issuance of new shares. The funds are needed to repay loans and interests and cover negative cash flow from operations the rest of the year.
Oil rallied above USD 86 a barrel after Saudi Arabia said that the OPEC+ alliance should maintain its cautious approach to managing global crude supplies given the threat to demand still posed by the pandemic.
The world's largest oil exporter sets a net climate neutrality target for Scope 1 and 2 emissions from midcentury – however omitting Scope 3, accounting for more than 80 percent of carbon pollution stemming from Saudi Arabia's state-owned oil giant.
Norway's PGS still suffers under the Covid-19-stricken oil market, delivering yet another financial report with enormous red figures on the bottom line. The deficit is smaller than in Q3 2020, however, when PGS lost more than a quarter billion dollars.
Hotel rig company Prosafe's fleet utilization rate has been at its highest in the past three months since the second quarter of 2019. The high fleet utilization comes after several inactive rigs due to i.a. maintenance.
A ship anchor may have torn a pipeline south of Los Angeles and caused a major oil spill last weekend. The US Coast Guard has inspected a ship, and the authorities are now investigating the matter, according to Reuters.
Bourbon Offshore's Norwegian subsidiary exited last year with a loss of NOK 864 million, but the recently restructured carrier eyes good opportunities and future increases in demand, reads the annual report for 2020.