Business & Finance
Germany: Future Looks Bright for Linde Group
The technology company The Linde Group continued to achieve profitable growth in the first half of 2011. “We are well on our way,” said Professor Dr Wolfgang Reitzle, Chief Executive Officer of Linde AG. “We’ve seen a strengthening of demand in both our gases business and our engineering business wo
France: CGGVeritas Inks Strategic Agreement with Spectrum Regarding 2D Multi-client Marine Library
CGGVeritas announced today that it has signed a strategic agreement with Spectrum, a Norwegian multi-client company, for the contribution by CGGVeritas of its 2D Multi-client marine library for a consideration in cash and a major equity position in Spectrum. CGGVeritas has reached a strategic agreem
Oil & Gas Supply Disruption from Libya Affects Eni Business Activities
Eni, the international oil and gas company, today announces its group results for the second quarter and the first half of 2011 (unaudited). Financial Highlights Adjusted operating profit: € 9.1 billion in the first half (up 8%); € 4 billion in the quarter (down 3%). Adjusted net profit: € 3.63 bill
Norway: Valiant Petroleum Announces Chamonix Well Spud
Valiant Petroleum plc announces that drilling has commenced on its first Norwegian exploration well, 6407/5-2S, on PL471 located in the Norwegian Sea. The well is targeting Chamonix, a potentially large Cretaceous stratigraphic prospect, and the secondary Cortina prospect in the Jurassic. The well i
Norway: Noreco Sells its Brage and Hyme Stake to Core Energy
Norwegian Energy Company (Noreco) announces that the sale of the company’s interests in the Norwegian oil fields Brage and Hyme to Core Energy has now been completed. The consideration to Noreco is USD 85 million net of tax with effective date 1 January 2011. In addition a pro et contra settlement w
The Netherlands: High Energy Prices Drive Shell Earnings Up
Royal Dutch Shell’s second quarter 2011 earnings, on a current cost of supplies (CCS) basis (see Note 1), were $8.0 billion compared with $4.5 billion the same quarter a year ago. Basic CCS earnings per share increased by 74% versus the second quarter of 2010. Second quarter 2011 CCS earnings, exclu
Turkey: Peri Yachts Launch New Superyacht Model Peri 29
Peri Yachts recently launched the latest Peri 29 yacht. This latest Peri 29 has been named Ozone. Like her sister ships she is built in epoxy composites with carbon reinforcement at Peri’s shipyard in Antalya, with exterior and interior design by Scaro and naval architecture by UK’s renowned Bill Di
Global Tech I Offshore Wind Project Raises EUR 1 Billion (Germany)
The offshore wind project Global Tech I, for which AREVA is supplier of 80 M5000 turbines, has finalized raising debt financing for an amount in excess of 1 B€. This is the second AREVA-powered offshore wind project to achieve this and a new demonstration of the confidence of the financial community
SBM Offshore Installs Two Platforms on Their Locations in Norway and Canada
SBM Offshore’s Yme and Deep Panuke platforms have now been installed on their respective offshore locations in Norway and Canada. Commissioning activities, as well as remaining construction works are currently ongoing to complete and prepare the facilities for start of production. Due to one client
GDF Suez Acquires Additional Stake in Njord Field, Offshore Norway
GDF SUEZ announced today two important milestones in the development of its portfolio of exploration & production assets. These operations are located for the one in a mature area in Norway and for the other in a promising region in Asia. Thus, the Group acquired an additional 20% share in the offsh
Centrica Presents Results for Period Ended 30 June 2011 (UK)
Operating and financial overview: *On track to deliver full year earnings growth in 2011, despite commodity price volatility, challenging economic environment and higher UK upstream gas and oil tax rates *shift in profits from the downstream to the upstream *UK residential energy operating profit* h
Italy: Southern Adriatic Exploration is Major Priority, Northern Says
Northern announces an update on its Southern Adriatic permits containing the Rovesti and Giove oil discoveries, which hold a combined 53.2 million barrels of 2P reserves. Highlights: – Approval of increase in work programme on each of Southern Adriatic permits F.R 39.NP and F.R 40.NP to include 3D s
UK: Dron & Dickson Wins USD 88.8 Million Worth of North Sea Contracts
Dron & Dickson, specialist in design, supply and maintenance of hazardous area electrical equipment has secured £55million in UK North Sea contract wins for the first half of 2011. During the last 6 months the company has landed both new and extended contracts with oil majors such as Nexen Petroleum
UK: Subsea 7 Organizes Conference Call to Publish Financial Results
Subsea 7 S.A. will publish unaudited results for the second quarter and half year 2011 which ended June 30, 2011, on August 10, 2011 at 7am UK time. A conference call will be held on Wednesday August 10, 2011 at 12:00 noon UK Time. From 7am UK time the following information will be available on [&he