Business & Finance
Charges and revenue drop drag Schlumberger into the red
Oilfield services major Schlumberger recognised a $3.34 billion loss in the second quarter on $3.7 billion charge and revenue drop of some 35 per cent. The loss of $2.47 per share compares with profit of 35 cents per share same time last year. Revenues fell from $8.26 billion in Q2 2019 to $5.35 bil
TAQA files decommissioning plans for two North Sea platform topsides
TAQA Bratani has filed its decommissioning programs for the Tern and North Cormorant platform topsides, located in the UK North Sea, to the UK authorities.
Kim Heng buys two anchor handling tugs from distressed seller
Offshore and marine services provider Kim Heng Offshore & Marine has bought two anchor handling tugs from Posh Terasea.
UK proposes to ease OFTO rules on four offshore wind farms
The UK Government has proposed to exempt Beatrice, Hornsea One, Rampion, and East Anglia One offshore wind farms from the requirement to hold a licence to transmit electricity, due to COVID-19-related delays in transferring their transmission assets. The four offshore wind farms, involved in the fif
Havila bags three-year job for subsea vessel in Brazil
Norwegian offshore shipping company Havila has been awarded a three-year contract for its subsea vessel in Brazil.
Equinor sees red as low oil price and Covid-19 halve 2Q revenues
Equinor sank to the red in the second quarter of the year as its revenues were halved amid Covid-19 pandemic and low oil prices.
COVID-19 impacts offshore wind players’ balance sheets, but not build-out and expansion plans
With financial results for the second quarter and the first half of the year now being presented, the status of the offshore wind sector in relation to the impact of the global COVID-19 crisis is becoming more prominent and, once again, it shows that the companies are both shaken and unshaken by it,
EMGS loss widens on halved revenues
Norwegian geophysical services company EMGS has seen its second-quarter loss widened as revenues slipped almost 50 per cent The Oslo-listed firm booked Q2 2020 loss of $6.6 million or 5 cents, versus loss of $2 million in Q2 2019. Revenues for the quarter fell at $7.5 million from $14.5 million same
Repsol swings to loss as asset impairments bite
Repsol booked a loss in the second quarter of the year after being forced to re-evaluate its upstream assets due to the effects of the coronavirus pandemic and the low oil price environment.
Tsakos: We have four ships facing serious engine problems due to poor bunker quality
Seven months into the implementation of the IMO 2020 sulphur cap, which shaped a monumental shift for the shipping industry to less-polluting fuels, the issues with regard to the quality of bunkers persis, despite being sidetracked by the COVID-19 pandemic. Speaking in a recent webinar hosted by Cap
More red ink for PGS
PGS has seen its Q2 2020 loss widened, as revenues fell more than 50 percent. The Oslo-listed seismic player reported quarterly loss of $111.4 million, or 29 cents per share on revenues of $90 million. This result compares against loss of $49 million, or 14 cents per share on $192 million revenues i
Chart wins US small-scale terminal gig as LNG fueling orders surge
US LNG equipment maker Chart Industries saw a record quarterly intake of orders in the fueling segment as it also won a contract to build a small-scale terminal. The company said that June was the strongest month this year and it included a $13.3 million LNG terminal order from a US utility. In its
Italy supports new unmanned ship development project
Italy’s Regione Puglia has approved the Integrated Marine Remote Environmental Monitoring (MARIN) project with a total investment of about €6 million over three years.
Shell gets green light for Brent Alpha jacket decommissioning plan
UK authorities have approved Shell’s decommissioning plan for the Brent Alpha jacket, located in the UK sector of the North Sea.