Norwegian subsea services player Subsea 7 has announced the acquisition of certain businesses of a bankrupt EMAS Chiyoda Subsea (ECS). To recall, Emas Chiyoda Subsea, a joint venture between Ezra Holdings Limited and the Chiyoda Corporation, filed a petition for bankruptcy protection at a U.S. court
By Karolin Schaps LONDON (Reuters) – Oil prices rose to a two-week high on Thursday, extending a rally into a sixth straight session after a decline in weekly U.S. production eased concerns about deepening oversupply. Crude prices slipped to the lowest in 10 months last week but have since rebounded
A ransomware cyberattack named Petya, or NOTPetya according to Kaspersky Labs, has hit organizations around the globe, including the Ukraine government, Denmark’s Maersk Group, and the Russian oil company Rosneft. According to several news reports screens around the world are receiving a ransomware
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Greek oil company Energean Oil & Gas has submitted the Field Development Plan (FDP) for the Karish and Tanin natural gas fields, offshore Israel, to the Israeli Petroleum Commissioner. Energean’s subsidiary, Energean Israel, holds 100% of Karish and Tanin, which combined have 2.7 TCF of natural gas
UAE’s Zakher Marine International and Quality Marine Services have reportedly taken delivery of their first China-built offshore barge. According to the Emirates News Agency, the delivery is a part of the order consisting of three barges, ordered at a price of around $350 million in total. The news
Saudi Arabia has reportedly thwarted what appeared to be an attack on an offshore oilfield in the country’s territorial waters. The country’s government-run press agency cited an official source who said that at 20:28 on Friday, 16th June, three small boats, bearing red and white flags, entered the
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By Libby George LONDON (Reuters) – Oil prices edged up from 2017 lows on Friday but an ongoing supply excess put them on track for their fourth consecutive week of losses despite OPEC-led production cuts to support the crude market. Brent crude futures <LCOc1> were up 42 cents at $47.34 per barrel b
Singapore’s offshore support solutions provider Pacific Radiance has secured $45.3 million worth of new contracts, including options. Pacific said on Thursday that, under these contracts, ten of the group’s offshore support vessels, including a diving support vessel, were being deployed to support p
BP has released its 66th annual review of world energy markets. Energy demand was low, renewables grew, coal lost a large share, and gas production grew very slowly, and oil consumption grew strongly. The oil and gas company said the review of 2016 demonstrates the long-term transitions now underw
Oil prices edged down on Tuesday after OPEC reported an increase in its production for May despite a supply cut agreement
McDermott, a U.S.-based engineering, procurement, construction and installation company, recently loaded out and installed the first jacket fully fabricated by the company at its recently opened Dammam fabrication yard in Saudi Arabia. The Safaniya 264 jacket is part of McDermott’s long term agreeme
OPEC on Tuesday said a long-awaited rebalancing of the oil market was under way at a “slower pace” and reported that its own output in May jumped due to gains in nations exempt from a pact to reduce supply.
