Business & Finance
Chevron boasts highest earnings since 2013
Chevron has reported the highest third-quarter earnings since the first quarter of 2013 due to improved market conditions, strong operational performance and a lower cost structure.
Mermaid Subsea purchases pipelay vessel for Thai decom operations
Mermaid Maritime’s wholly-owned subsidiary Mermaid Subsea Services Thailand (MSST) has signed a Letter of Intent (LoI) with Swiber Holdings for the purchase of the pipelay vessel.
Shell hits record cash flow while 3Q profits drop
Shell has posted lower than anticipated earnings, which reflect the adverse impact of Hurricane Ida, while its cash flow from operations hit a record of $17.5 billion.
ExxonMobil’s 3Q profits surge
ExxonMobil has reported earnings of $6.8 billion in the third quarter of 2021 due to improved demand and strong operations.
ONE-Dyas hands in decom plans for Sean field in North Sea
ONE-Dyas has filed its decommissioning programme for three platforms, located in the Sean field of the UK North Sea, and handed them to the UK authorities.
Petrofac’s new refinancing plan requires $275M capital raise
Petrofac has decided to raise $275 million through new equity to create a long-term, sustainable capital structure and pay off existing debts as part of its refinancing plan.
Equinor increases share buybacks encouraged by boost in profits
Equinor recorded a profit of $1.41 billion in the third quarter of 2021 due to higher prices and solid operating performance.
Eidesvik CEO stepping down to be replaced by current CCO
Eidesvik has revealed its current president and CEO will be retiring from the position, while the company’s current CCO was chosen as his replacement, effective from 1 January 2022.
Eidesvik PSV bags fresh extension from Wintershall Dea
Eidesvik Offshore has won a contract extension with Wintershall Dea for the platform supply vessel (PSV) Viking Princess.
Shell, Trafigura, AET and Saudi Aramco invest in Daphne Technology
Daphne Technology, a Swiss climate tech startup addressing the greenhouse gas (GHG) challenge, has attracted investments from industry majors in the second investment round.
Lundin to pay $320M for OMV’s interest in Wisting development
Lundin has entered into an agreement with OMV to pay $320 million for the acquisition of its entire 25 per cent working interest in the Wisting development.
Aker BP’s Mugnetind well does not live up to pre-drill expectations
Aker BP has found a minor oil discovery on its Mugnetind exploration well, however, the findings are below pre-drill expectations.
Longboat reports on Equinor’s ‘material light oil’ discovery at Egyptian Vulture
Longboat Energy has announced ‘a material light oil’ discovery at the Egyptian Vulture exploration well, offshore Norway.
Serica to delay Columbus production start-up
Serica Energy has confirmed the start-up of production at its Columbus field located in the Central North Sea will be delayed