Search results for: suspension

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  • 6 June 2017

    Vessel traffic in the Bosphorus Strait was briefly suspended on June 5 when a Malta-flagged general cargo vessel ran into trouble in the waterway. The 1986-built vessel Andre Michel 1 suffered an engine malfunction in the Garipce area of the Bosphorus shortly after noon local time. According to GAC, a salvage boat and tug were sent to assist the […]

  • 14 November 2017
    Business & Finance, Operations & Maintenance

    Offshore service provider Oceanteam said it has suspended KPMG’s services as its auditor in Norway. According to the company, the decision was made based on Oceanteam’s investigative findings regarding audit costs that were charged for work not performed. The investigation by an independent consultancy firm also showed that the amounts charged by KPMG compared to […]

  • 21 June 2019
    Business & Finance, Operations & Maintenance

    Norwegian vessels owner and operator Solstad Offshore said it has secured extension with a number of its key creditors for the suspension and deferral of payments. In December 2018 and April 2019, a number of the companies in the SOFF group entered into agreements for the suspension and deferral of payments until June 20, 2019. […]

  • 1 November 2019
    Business & Finance

    Norwegian offshore vessel owner Solstad Offshore (SOFF) needs more time to complete its restructuring and has therefore agreed an extension of suspension and deferrals of payments under its financing agreements. Late last year Solstad started discussions with its financial creditors and other stakeholders to improve the overall liquidity situation of the group and to create […]

  • 22 June 2020
    Business developments & projects, Infrastructure, Operations & Maintenance, Vessels

    Cruise Lines International Association (CLIA), the world’s largest cruise industry trade association, said that its ocean-going cruise line members will voluntarily extend the suspension of cruise operations from US ports until 15 September 2020.

  • 5 December 2014

    Norwegian oil company Statoil has extended the suspension times for three offshore drilling rigs. The company said that the reason for the extended suspension for COSL Pioneer, Scarabeo 5 and Songa Trym semi-submersibles was overcapacity in the rig portfolio. Statoil has also said that the suspensions are also a result of the failed attempts to mature […]

  • 27 June 2016
    Exploration & Production

    Norwegian oil company Statoil has suspended another drilling rig under its contract – this time the contract was suspended for one of Dolphin Drilling’s rigs.  To remind, Songa Offshore recently informed that Statoil would suspend the contract for the semi-submersible rig Songa Delta putting the rig on 75% suspension rate of $277,000 per day. Dolphin Drilling, a subsidiary […]

  • 5 December 2018
    Business & Finance

    Solstad Offshore has scheduled a bondholders’ meeting to ask their consent for temporary suspension and deferral of interest and amortizations on financial debt. 

  • 9 August 2019
    Business & Finance

    Malaysian offshore services provider Barakah Offshore Petroleum has sued compatriot Petronas for RM 1.02 billion ($243.7 million).

  • 28 May 2015
    Business & Finance

    South African national oil company PetroSA has reportedly suspended three of their top executives, including the Chief Executive Officer (CEO), due to poor performance. Business Day (BD), a national daily newspaper in South Africa, has reported that PetroSA’s Board gave CEO Nosizwe Nokwe-Macamo, CFO Lindiwe Mthimunye-Bakoro and acting vice-president of upstream operations Andrew Dippenaar, 24 hours to […]

  • 24 November 2011
    Business & Finance

    Chevron Corporation reported that while its subsidiary, Chevron Brasil Upstream Frade Ltda., has not received formal notice from Brazil’s National Petroleum Agency (ANP) suspending its drilling license, the company has voluntarily suspended its current and future drilling operations, offshore Brazil. The voluntary suspension includes the company’s permitted pre-salt wells in the Frade field with the […]

  • 19 December 2018
    Business & Finance

    Bondholders of Solstad Offshore have accepted the company’s proposal for temporary suspension and deferral of interest and amortizations on financial debt. 

  • 6 July 2016
    Exploration & Production

    Offshore drilling contractor Songa Offshore has informed that a suspension period for its semi-sub rig Songa Delta will start later than expected.  The 1981-built Songa Delta drilling rig was recently suspended by Statoil and the 75% suspension rate of $277,000 per day was supposed to start from the end of June 2016. The end of suspension […]

  • 30 June 2020
    Business & Finance, Business developments & projects, Exploration & Production

    Seadrill has received a contract suspension for the jack-up drilling rig AOD II operating in the Middle East due to changes in the drilling program.

  • 28 November 2013
    Business & Finance

    The US Navy has suspended Inchcape Shipping Services Holding Ltd. and its affiliated companies from contracting with the Federal government on November 26, 2013, said Rear Admiral John F. Kirby, Navy Chief of Information “The suspension prevents Department of the Navy (DON) and all other Federal departments and agencies from entering into any new contracts, exercising options […]

  • 20 June 2019
    Business & Finance

    Norwegian offshore vessel owner Solstad Offshore needs more time to work out a sustainable solution for the company’s current financial position as restructuring talks continue.

  • 24 April 2015

    Metgasco Limited informed that the NSW Supreme Court has found in its favour in Metgasco’s challenge to the NSW Government’s suspension of its Rosella drilling approval.

  • 10 March 2014

    Buccaneer Energy Limited, an Australia-based company focused on exploration in North America, has suspended its Chief Executive Officer.

  • 24 April 2015

    Metgasco Limited informed that the NSW Supreme Court has found in its favour in Metgasco’s challenge to the NSW Government’s suspension of its Rosella drilling approval.

  • 15 May 2015

    Shawcor’s Canusa-CPS division has received notification from Saipem that its suspension of the work on South Stream pipeline project has been lifted and its contract is to be resumed. Canusa-CPS had been awarded a contract from Saipem SpA to provide field joint coating services for Line 1 of the South Stream Offshore Pipeline, which was supposed […]

  • 26 June 2014

    Metgasco said it was advised by the NSW Office of Coal Seam Gas (OCSG) that the suspension of its approval to drill the Rosella well in Northern New South Wales will remain in place, despite Metgasco’s request for reconsideration and removal of the suspension. Metgasco had agreed to defer its legal action for judicial review […]

  • 24 August 2017
    Equipment

    WEFIC, a Kerui Petroleum’s wellhead brand, completed the API 17D subsea production system performance test of its MSW-1 shallow water mudline suspension wellhead system, filling the gap in China’s mudline suspension technology for underwater oil and gas production. The test fully simulated the installation and pressure in the mudline environment. In the test, 9 5/8″ and 20″ casing […]