Business & Finance
Vinalines transforms into joint-stock company, changes name to VIMC
Vietnam National Shipping Lines (Vinalines), a maritime services and logistics supplier in Vietnam, will officially begin operations as a joint-stock company (JSC) on 1 September.
PGS rejects TGS’ offer to buy its multi-client data library
PGS has rejected an offer from TGS-NOPEC Geophysical Company whereby TGS proposed to acquire multi-client data library of PGS. PGS board of directors is of the view that the value of the company’s multi-client data library is significantly greater to PGS than that represented by the TGS proposal, an
MISC posts lower profit, but LNG revenue keeps growing
Malaysia’s MISC reported a drop in net profit in the second quarter due to the effects related to the Covid-19 pandemic, but the company’s LNG business keeps rising. MISC’s 299.5 million ringgit ($71.3 million)net profit declined 25 percent year-on-year. The shipping giant attributed the decline mai
Total nears South African well spud
French oil major Total expects to spud the Luiperd-1 well located offshore South Africa by the end of this month.
US weekly LNG exports still low
US LNG exports increased in the week ending August 12 but they still remain at low levels as the Covid-19 pandemic continues to weigh on global prices and demand. The Energy Information Agency agency said in its weekly gas natural gas report that five US terminals dispatched eight LNG cargoes during
Shelf Drilling faces new contract termination and rig suspensions
Shelf Drilling has seen a couple of its rig contracts suspended and one terminated early while another termination has been rescinded.
BPC granted force majeure extension for Bahamas licence
Bahamas Petroleum Company has been granted an interim force majeure extension to the second exploration period for its southern licences in The Bahamas
Teekay LNG in “another record quarter”
Bermuda-based shipping company Teekay LNG said its net income surged in the May-June period with its chief executive announcing the results as “another record quarter” for the firm. Net income for the second quarter reached $44.9 million, compared to $16.4 million in the corresponding quarter last y
Shell updating interpretation of North Sea prospect following delivery of new seismic data
Shell has delivered the processed 3D seismic data over the Pensacola Zechstein Reef prospect located in the UK sector of the Southern North Sea.
Hermitage Offshore files for Chapter 11 following slump in oil price
Hermitage Offshore and 28 subsidiaries have filed for voluntary Chapter 11 petitions amid global oil slump and coronavirus pandemic.
New strategic advisor joins Kraken
Kraken Robotics has added Sam Allen as a strategic advisor. Sam will help the company refine its strategy for the international offshore energy market with a focus on landing additional pilot projects and converting pilot projects to longer-term recurring revenue contracts. Allen is the former presi
Norwegian operator gets rid of two vessels
DOF, a Norwegian offshore vessel operator, has sold two of its vessels, one to an unnamed buyer and the other to a recycling yard in Turkey.
Wintershall Dea wraps up drilling phase at Dvalin ahead of first gas
Drilling has been completed on the Wintershall Dea’s Dvalin field in the Norwegian Sea, propelling the project into the final development phase before first gas. Wintershall Dea said on Wednesday that, overcoming severe weather conditions at the beginning of the year and avoiding any impact of the C
Rystad: OFS industry to see lowest headcount in over a decade as Covid-19 pushes firms into cost-cutting mode
A Rystad Energy analysis of the top 50 OFS firms shows that staffing is set to reach its lowest level in more than 10 years.