Nine men face prison sentences of up to 15 years, if they are convicted of selling illegal and unspecified bunker fuel in the largest bunker port in the world.
OPEC seems to face better odds of reaching an oil output deal on Friday as Iran backs away from a threat to veto any agreement that would raise production, and Saudi Arabia proposes a move that close to 600,000 barrels per day to the market.
Over 18 months Borr Drilling has established itself with the youngest and biggest fleet of drilling rigs, which will reap all the rewards of recovery in the years to come, says Rystad Energy.
Norwegian investment company Akastor splits ownership of its offshore shipping company AKOFS Offshore by selling half the shares to Japan's Mitsui, including to Mitsui's liner company MOL.
Baker Hughes Norway, Halliburton A S and Schlumberger Norway AS have won contracts valued at over NOK 30 billion in total, the largest ever distributed by the state-owned oil major.
As the oil price has increased, it has become more difficult for Maersk to sell off Drilling, writes Danish daily Berlingske Business.
Iran says that Iraq and Venezuela will join it in blocking a move to increase oil output backed by Russia and Saudi Arabia when OPEC and its allies gather in Vienna this week.
Donald Trump has criticized OPEC for the high oil prices. OPEC member Iran has responded and criticizes the US President for having caused the instability in the oil prices.
Engine giant Rolls-Royce, which has booked sizeable losses on its marine business in particular, will eliminate thousands of jobs in latest restructuring. The marine business is still under review for potential sale.
Equinor, formerly Statoil, will use more energy from land to a series of rigs in the North Sea, thus reducing CO2 emissions. The project will cost billions, reports Dagens Næringsliv.
John Fredriksen has bought more than USD 300 million in claims against Seadrill from the company's lenders, and he is set to remain the by far biggest owner of the drilling company, which plans to finish its Chapter 11 proceedings next month.
The Titan Opportunities Fund, headed by former Fredriksen associate Espen Westeren, has made significant returns on oil assets in the past two years – and it is far from done exploiting the recovery.
After two years plagued by large deficits, the formerly Dong and Siemens-owned offshore shipping company A2Sea reports a significantly improved result for 2017.
The oil supply from non-OPEC petroleum producers is expected to surge significantly in 2019, headed by US shale production and increased Russian output, projects JP Morgan.
For the rig companies' earnings on leasing out drilling rigs to improve, a significantly higher number of rigs need to be scrapped, note analysts according to Sysla.
The oil price dips below USD 66 per barrel as conflicting signals from OPEC member countries about whether their output cap will be eased trigger speculation that the members will have a hard time reaching agreement at its upcoming Vienna gathering.
African oil giant Nigeria's liquefied natural gas company NLNG will decide later this year whether to invest more than USD 10 billion to expand its capacity by 40 percent in an effort to not fall behind as an LNG player.
John Fredriksen's drilling company expects to complete its rescue plan in about one month. As such, an almost year-long fight to survive seems looks set to come to an end for the company.
Offshore shipping company Solstad Farstad has won contracts with several oil majors, including Aker BP and a former Maersk Oil company, now part of Total. The contracts indicate an improving market, says the company.
The dramatic drop in oil prices from 2014 onwards cost approximately 25,000 Norwegian jobs in the Norwegian oil sector alone in 2015, 2016 and 2017. New figures from Statistics Norway show this development, writes business daily Dagens Næringsliv.
The Petroleum Safety Authority Norway has given Prosafe until June 25 to resolve a number of issues related to accommodation rig Safe Scandinavia.
Container rates need to increase in the second quarter in order for Maersk to meet its operating profit guidance in 2018, notes investment bank Carnegie according to Børsen.
Norwegian media Sysla reports that 37 rigs are currently stacked in Norway and the UK. And many of these rigs will never work again, note two analysts.
Recently established Borr Drilling, led by Tor Olav Trøim as chairman, has begun to bring in earnings for the company, shows the report. However, the company still has a negative bottom line.
The huge topside drilling platform for mega-field Johan Sverdrup will be installed in a single lift performed by the world's largest vessel, which is a sight to behold on its own. See the video of the extraordinary lift here.
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