Fossil Energy
RWE Dea: Norwegian Government sets ambitious plans
Tord Lien sent clear signals to the industry that the Government will have high ambitions for Norwegian oil and gas during his speech at RWE Dea Norge’s annual event in Oslo last night. During the event to honor the RWE Dea scholarship recipients the Minister spoke about the future of Norwegian oil
Havila reports Q1 profit increase
Havila Shipping ASA achieved a profit before tax of NOK 41.9 mln ($7 mln) in Q1 2014, compared with NOK -19.6 mln in Q1 last year. Total operating income and gains was NOK 378.5m in the Q1 of 2014. Total operating income for corresponding period last year was NOK 330.4m. The group had 27 vessels in
Noble Corp accelerates Paragon Offshore’s separation process
Noble Corporation has announced an update to its plan to spin-off Paragon Offshore. Noble expects to effect the spin-off as a dividend of 100 percent of the shares of Paragon Offshore to Noble’s shareholders during the third quarter of this year. As previously announced, Paragon Offshore will own an
Subsea 7 reports $1.7 bln Q1 revenue
Subsea 7 has announced the results for the first quarter which ended on 31 March 2014. Jean Cahuzac, Chief Executive Officer, said: First quarter 2014 “The Group has had a good start to 2014, with first quarter revenue and Adjusted EBITDA both increasing from the levels achieved in the first quarter
PSA audits Maersk Drilling’s jack-up Maersk Guardian
Between 5 and 14 March 2014, the Petroleum Safety Authority Norway carried out an audit of Maersk Drilling in respect of preparedness and maintenance management. The objective of the audit was to monitor that Maersk Drilling, at all levels of the organisation, is working systematically on the preven
First oil flows at Dana Petroleum’s Western Isles Project
Dana Petroleum has reported that the first production well has now been successfully completed and flow tested and a further three wells have been drilled and cased to surface casing depth in the Western Isles Development Project. All four subsea christmas trees have also been installed on the seabe
Total CEO says Q1 results are lower than last year
Total has announced the results for the first quarter of 2014. Commenting on the results, Chairman and CEO, Christophe de Margerie said: “The Group reported adjusted net income of $3.3 billion for the first quarter, solid results albeit slightly lower than last year. The impact of sharply lower Euro
UK Continental Shelf activities to decrease during next year
Drilling and deal activity on the UK Continental Shelf (UKCS) will remain at ‘a steady low’ for at least the next year, suggests a new report from business advisory firm Deloitte. Poor weather and high costs have already had an impact on the amount of exploration and appraisal (E&A) work conducted b
UK O&G Industry Safety Awards winners presented
The winners of the UK Oil and Gas Industry Safety Awards were confirmed on Wednesday 30 April in an awards ceremony held at Aberdeen Exhibition and Conference Centre. The event, sponsored by Maersk Oil UK, recognises and honours the companies and people who embody the spirit of safety and innovation
Rosneft production increases
Rosneft, a leader of Russia’s petroleum industry and the world’s largest publicly traded petroleum company, reports the following performance in Q1 2014: daily hydrocarbons production exceeds 5mm boe, EBITDA reaches RUB 289 bn, net debt goes down by RUB 207 bn. In Q1 2014, crude oil and liquids prod
MacArtney upgrades MMT’s FOCUS-2 systems
MacArtney has performed a major upgrade of two FOCUS-2 ROTV systems belonging to Swedish marine survey contractor and specialist, MMT. Both vehicles have been fitted with new state-of-the-art equipment to carry out geophysical survey missions for clients within oil, gas and renewable energy industri
AGR expands RM UK team
AGR’s Reservoir Management UK division (RM UK) is gearing up for a busy year ahead and has grown its sub-surface department with the addition of Steve Adams, Principal Geologist. Steve, who will be based in AGR’s Aberdeen office, has over 30 years’ experience in the oil and gas industry, with a stro
BG Group’s Board member retires
BG Group plc announces that Peter Backhouse will retire from the Board at the conclusion of the Company’s Annual General Meeting to be held on 15 May 2014. Commenting, BG Group’s Chairman, Andrew Gould said: “On behalf of the Board, I would like to thank Peter for his considerable contribution to BG
Otto Marine buys MV ‘Seisranger’
Seisranger AS, a company in the Forland Shipping Group, has concluded the sale of the vessel Seisranger to Otto Marine Limited on 30 April 2014. This sale will trigger a NOK 75 million redemption of the NOK 525 million Senior Secured Bond that E Forland AS has outstanding. The MV Seisranger was buil