Business & Finance
Former Repsol Sinopec boss to take the helm at Ithaca Energy
Ithaca Energy, a North Sea focused oil and gas operator, has appointed a new chief executive officer (CEO).
U.S. offshore rig count steady at 13 units
The number of offshore rigs in the U.S. stayed unchanged over the course of last week, according to weekly rig count reports by Baker Hughes.
Pharos COO takes Hurricane Energy chief executive role
London-listed oil explorer Hurricane Energy has named a new chief executive officer (CEO) of the company.
Duke Energy not so keen on offshore wind?
Duke Energy, a North Carolina-headquartered electric power holding company, does not see offshore wind as having big enough potential until the end of the next decade, according to information from the company’s recent earnings call. Responding to a question asked by a Goldman Sachs analyst Michael
Genting Hong Kong suspends all payments to financial creditors
Genting Hong Kong Limited has decided to temporarily suspend all payments to the group’s financial creditors as it works to preserve liquidity during a very tough time for the company suffering from a massive impact from the COVID-19 pandemic on its operations. The cruise shipping major had to suspe
OPT opens Houston office
Ocean Power Technologies (OPT) has opened new office in Houston, Texas to support Gulf of Mexico and broader U.S. and South American opportunities. The new OPT office will serve as the base for the company’s regional sales and business development activities, headed by OPT’s VP Global Business Devel
Bahri orders 10 chemical tankers from HMD in $410 million deal
Bahri, the world’s largest owner and operator of very large crude oil carriers, has signed an agreement with Hyundai Mipo Dockyard, a member of Hyundai Heavy Industries (HHI) Group, to build ten 49,999-dwt Medium Range (MR) chemical tankers. Valued at $ 410 million (SAR 1.537 billion), the agreement
Origin names new chairman as Cairns retires
Australia’s Origin Energy, the owner of a 37.5% APLNG stake, said that Gordon Cairns will retire as chairman and director. He will leave the firm after the annual general meeting on October 20. Scott Perkins will be taking over from Cairns who has been chairman of Origin since October 2013. Perkins
US weekly LNG exports rise to 11 cargoes
US LNG exports increased to eleven cargoes in the week ending August 19 with feed gas deliveries to liquefaction plants rising to 4.4 billion cubic feet. LNG exports are slowly picking up but they are still low compared to pre-Covid levels and a feed gas of 8 Bcf/d recorded in January. The Energy In
Santos swings to loss on impairments
Australian independent energy firm Santos reported a net loss in the first half as it booked a $526 million hit in asset impairments due to revised oil price outlook. The LNG producer recorded a net loss of $289 million as compared to a profit of $388 million on previously announced charges mainly r
Maersk Drilling picks up another extension from Aker BP
Danish offshore drilling company Maersk Drilling has won another one-well contract from Aker BP for the Maersk Integrator low-emission rig.
DP World’s H1 profit takes a massive hit
Dubai-based port and terminal operator DP World reported a profit attributable to owners of $313 million for the first half of 2020, a decrease of 58.5 % from the last year’s equivalent of $753 million. However, the company reported a revenue growth of 17.7 % on a reported basis having booked $4.07
Valaris declares Chapter 11 bankruptcy
Valaris, offshore drilling contractor with the world’s largest fleet, has filed for bankruptcy protection in an attempt to restructure its debt.
COSL rig to drill wells off Norway for Chrysaor
Offshore drilling contractor COSL has signed a drilling rig contract with oil company Chrysaor, formalising a letter of intent signed for the rig in July.