For the first time in almost a year and a half, it has been made public how much Maersk Drilling is paid to lease out one of its drilling rigs.
Oil prices reduced a weekly loss as investors shifted their focus from the market upheaval caused by a dip in US equities to the looming shortages from Iran's dwindling exports.
Norway needs to wind down its oil production if the global climate targets are to be achieved, says the professor.
It will take decades to phase out fossil fuels, but an increasing number of countries are spurring that development, leading oil companies to think shortsightedly while investors get nervous. The powerful upward pressure under energy prices is already decreasing the tempo of the global economy.
Italian oil company Eni is buying half of BP's oil and gas operations in Libya in an effort to reestablish exploration of extraction from the oil-abundant country.
A mapping of the geology in the northern Barents Sea could help the Norwegian government bring up even more oil, reports Sysla.
A cocktail comprised of oil prices, investments and the number of rigs in operation are factors behind Fearnley Securities' confidence that the offshore sector is headed for better times.
Rig companies Ensco and Rowan are now joining forces in a venture that will have a combined market share of USD 12 billion, say the two companies.
Signs that the potential impact of sanctions on Iran could be mitigated made oil prices drop for the third consecutive day.
The Danish cable manufacturer has booked a turnkey order from Equinor to connect the second half of the large oil field Johan Sverdrup.
Investors expect to see oil prices soar to more than USD 100 per barrel ahead of 2019 as sanctions against Iran are implemented, reports Reuters.
US oil major ExxonMobil has presented its version of how the company will supply bunker that meets the 2020 requirements. The company is considering billion dollar investment in Singapore.
Increasing activity and tenders in the offshore market motivate Borr Drilling to reactivate four rigs – though they have yet to land work.
Managing Director of the International Monetary Fund, Christine Lagarde, has sounded the alarm for the well-being of the global economy. International growth has plateaued, she says.
Offshore company Prosafe has tripled its share price in 2018. A deal with a Cosco yard in China is a large part of the explanation behind the dramatic recovery.
The Norwegian government has agreed to settle a rights issue involving a co-financing of Kongsberg group's acquisition of Rolls-Royce Marine, however, parliamentary consent is pending.
Former CEO for Dutch offshore company SBM Offshore has received a prison sentence of 36 months after being found guilty of bribery in the US. Another executive has also been sentenced in the case.
Three rigs took a big toll on the Norwegian drilling company in the first half of 2018 and ahead of the restructuring, according to new numbers. But the company achieved an operating profit.
BASF and LetterOne have signed an agreement to merge their respective oil and gas businesses in a joint venture, which will operate under the name Wintershall DEA.
Brazilian oil major Petrobras has agreed to pay USD 853.2 million to settle claims by authorities stemming from bribe allegations in one of South America's biggest corruption scandals.
State-owned Qatar Petroleum will increase its production of liquefied natural gas to more than 100 million barrels a year. Qatar thus emphasizes its focus on LNG as the fuel of the future, writes Wood Mackenzie.
The two Norwegian companies, both of which operate within the offshore industry, have entered a partnership for the development of subsea equipment and services.
With just six weeks left before US sanctions hit Iran, the country's oil tankers are starting to disappear from global satellite tracking systems, which makes it harder to keep track of Iran's oil sales.
US President Donald Trump repeated his attacks on OPEC, claiming the cartel is forcing up oil prices, and he called on some members to start paying the US for military protection.
Close to one fifth of the North Sea offshore fleet is stacked, and the tough times look set to continue even though the oil price has increased significantly. The same scenario applies globally. "There are simply too many vessels," says analyst.
Professional consultant - CO-Sea
Ocean agent - Expeditors
General Manager - On-site recovery, MAN Energy Solutions
Account Manager - Port of Aarhus
