Business & Finance
Providence inks Barryroe farm-out deal with SpotOn
Irish oil and gas exploration company Providence Resources has signed a farm-out deal with SpotOn Energy for the offshore block in Ireland containing the Barryroe oil and gas discovery.
ExxonMobil to write off up to $20 billion of assets in its biggest impairment ever
ExxonMobil will be taking an impairment charge of up to $20 billion in 4Q 2020 after removing certain dry gas assets from its development plan.
Neptune awards three-year water treatment deal to Separo
Solids control, hazardous waste stream, and wastewater expert Separo has been awarded a three-year contract for the provision of produced water treatment services from Neptune Energy.
Australia: Victoria sets massive budget for offshore wind, green hydrogen
The government of Australia’s state of Victoria is pouring the first AUD 108 million (around € 67 million) from its clean energy 2020/21 budget into the first steps toward bringing new renewable energy and hydrogen projects, such as the country’s first offshore wind farm, to realisation. The funds w
ExxonMobil opts out of Bass Strait assets sale
U.S. oil and gas major ExxonMobil has called off the potential multibillion-dollar sale of its assets in Australia’s Bass Strait.
DSME fined $13.8 million for unfair treatment of subcontractors
The Korea Fair Trade Commission has fined Daewoo Shipbuilding and Marine Engineering (DSME) for unfair treatment of subcontractors by assigning low contract prices that were below labour cost. The Korean shipbuilding major has been hit with a KRW 15.3 billion ($13.8 million) fine. The fine relates t
Eco Atlantic lands reissued licences offshore Namibia
Oil firm Eco Atlantic Oil & Gas has successfully negotiated the reissuance of its four licences in the Walvis Basin offshore Namibia conditional to customary final government signature.
Sea Lion farm-in extended to enable Premier-Chrysaor merger
Rockhopper Exploration and Premier Oil have agreed to extend the exclusivity period for Navitas Petroleum’s farm-in to the Sea Lion project located offshore the Falkland Islands.
Borr Drilling faces challenging financial situation amid payment delays in Mexico
Borr Drilling is facing a very challenging financial situation amid a difficult market environment combined with payment delays from Pemex in Mexico.
RightShip appoints new CEO
Maritime risk management agency RightShip has appointed Steen Brodsgaard Lund as the company’s new Chief Executive Officer (CEO). Steen joins the organisation to succeed Martin Crawford-Brunt, who will be departing RightShip on December 18th, 2020. Throughout his three years in charge, Martin has ad
Pacific Basin expands fleet with four scrubber-fitted Ultramaxes
Dry bulk shipping company Pacific Basin has bought four second-hand Ultramax vessels for a total of $67 million. The Hong Kong-based shipowner said that the purchase would be funded by its cash reserves. The four sister vessels each have cargo carrying capacities of over 61,000 dwt and are Kawasaki
Equinor gearing up for fresh Barents Sea well
Equinor has received consent from the offshore safety authority to drill an exploration well in the Barents Sea using the Transocean Enabler rig.
Petronas posts nine-months loss
Malaysian energy giant Petronas posted a loss for the nine months of 2020.
Schlumberger workers in Norway to strike over pay and working conditions
Some 262 oil service workers at Schlumberger’s Norwegian entity plan to go on strike from 3 December if negotiations with employers over pay and working conditions fail.