Business & Finance
Thailand: PTTEP Posts 1Q Profit of USD 359 mln
Mr. Anon Sirisaengtaksin, the President and CEO of PTT Exploration and Production Public Company Limited or PTTEP disclosed the PTTEP 1st Quarter Operating Results. The company and its subsidiaries posted a net profit of USD 589 million (equivalent to 18,288 million baht), an increase of USD 229 mil
UK: Red Spider’s eRED Completes 100 Operations
Red Spider, the Remote Open Close Technology specialist delivering major savings and reduced risk to the oil & gas industry, has announced completing 100 operations using its ground-breaking eRED tool. The work involving eRED has generated multi-million pound sales for Red Spider and has taken place
Germany: Siemens Reports Higher Q2 Revenues by 9 pct
Siemens continued broad-based revenue growth in the second quarter of fiscal 2012. Revenue in the second quarter rose nine percent year-over-year, supported by a strong order backlog. New orders were down 13 percent. Income was considerably below the prior year due to burdens in the Power Transmissi
UK: Red Spider’s eRed Completes 100 Operations
Red Spider, the Remote Open Close Technology specialist delivering major savings and reduced risk to the oil & gas industry, has announced completing 100 operations using its ground-breaking eRED tool. The work involving eRED has generated multi-million pound sales for Red Spider and has taken place
Norway: AGR’s Reservoir Management Gets New VP
Newly appointed Morten Heir holds a masters degree in Petroleum Engineering from the Norwegian University of Science and Technology (NTNU, Trondheim) as well as a masters degree in business administration from the School of Economics and Business Administration (NHH, Bergen). He also previously work
Canada: EMCP Authorises Kvaerner for Further Work on Hebron GBS
Kiewit-Kvaerner Contractors, the 50/50 joint venture between Peter Kiewit Infrastructure and Kvaerner, has been authorised by ExxonMobil Canada Properties (EMCP) to proceed with work on the Hebron Project gravity based structure (GBS) project in Newfoundland and Labrador, Canada. The authorisation f
Caterpillar Reports Record Quarterly Profit (USA)
Growth in mining, strong replacement demand for products in the United States and a continued focus on cost management helped Caterpillar Inc. (NYSE: CAT) deliver record quarterly profit per share of $2.37 in the first quarter of 2012. This represents an increase of 29 percent from first-quarter 201
OPDR Increases Presence in Baltic Sea Region
OPDR has extended its Baltic Sea Service (BALT) through the formation of new strategic alliances in Scandinavia, the Baltics and Russia. The new BALT Service is specifically designed to ensure a cohesive connection to all other OPDR services and provides both higher frequency and reduced transit tim
Kiewit-Kvaerner JV Work on Exxon’s Hebron GBS in Canada
Kiewit-Kvaerner Contractors joint venture, has been authorised by ExxonMobil Canada Properties (EMCP) to proceed with work on the Hebron Project gravity based structure (GBS) project offshore Newfoundland and Labrador, Canada. The authorisation comes after the substantial completion of front end eng
Norway: AGR Appoints New Vice President of Reservoir Management
AGR has appointed a new Vice President within their Reservoir Management division. Morten Heir, formerly Technical Director at Canamens Energy for 4 years, succeeds Atle Aamodt Andresen who will now head up AGR Energy – a newly established division focusing on the development and management of proje
Germany: Largest Becker Mewis Duct for VLCC Delivered
Becker Marine Systems has delivered the largest Becker Mewis Duct® ever made with a diameter of 8.10 m for the construction of Very Large Crude Oil Carriers (VLCC) at Hyundai Samho Heavy Industries for Samco Shipholding, Singapore. This order is just one example of the excellent reception being give
The Netherlands: Ballast Nedam’s 2012 Profit Forecast Unchanged
Ballast Nedam is holding up in the still deteriorating market conditions and has achieved a revenue and profit approximately in line with those for the first quarter of 2011. Excellent results have been achieved on several major multiyear projects and in niche markets, while the regional infrastruct
The Netherlands: Ballast Nedam’s 2012 Profit Forecast Unchanged
Ballast Nedam is holding up in the still deteriorating market conditions and has achieved a revenue and profit approximately in line with those for the first quarter of 2011. Excellent results have been achieved on several major multiyear projects and in niche markets, while the regional infrastruct
UK: Scientists Prove Power Capture and Cost Benefit Potential of Pelamis ‘Line-Absorber’ Principle
Hydrodynamicists at Pelamis Wave Power have published a scientific paper that could have profound implications for the race to commercial production of wave energy converter machines, after proving the theoretical advantage of line absorbers over point absorbers. The paper entitled “Maximum wave-pow