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Polarcus, an offshore geophysical company, went from black to red during the third quarter 2016 compared to a year earlier performance. The geophysical company’s net loss for the quarter was $17.4 million, versus a $19.8 million profit in the corresponding quarter in 2015. Further, Polarcus’ revenue
By Henning Gloystein SINGAPORE (Reuters) – Oil prices dipped on Tuesday as disagreement flared within producer cartel OPEC on who should cut how much production in a planned coordinated reduction to prop up prices. The dollar, which held near nine-month highs against a basket of major currencies <.D
By Katya Golubkova and Shadia Nasralla VIENNA (Reuters) – A short-term cap in oil output would reduce market volatility, Russian Energy Minister Alexander Novak said on Monday at a meeting with OPEC Secretary-General Mohammed Barkindo, as both are looking at ways to stabilize prices. Russia is the w
Iranian Pars Oil and Gas Company has said the South Pars platform 20 would be loaded for transport in the Khorramshahr yard in Iran on Monday, October 24. The company said on Saturday that the platform was 98 percent done and that it would be loaded and transported on Monday to the giant South Pars
A sustained low oil price environment is a challenging one, with ‘survival of the fittest’ being an undeniable reality of the sector, Douglas-Westwood, an energy intelligence group said its DW Monday report. According to Douglas-Westwood, upstream E&P operators, in the past two years, have scurried
Support services company DHSS has signed a vessel agency and warehousing contract with Polarcus, a Dubai-based seismic services provider. DHSS, based in the Port of Den Helder, is a logistics provider in all Dutch ports both for the oil and gas industry as well as the renewables sector. The company
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Offshore drilling contractor Noble Corporation has received a contract award for a jack-up drilling rig in Qatar. The company reported in its latest fleet status report on Thursday that the jack-up drilling rig Noble Houston Colbert has been awarded a contract by JX Nippon in Qatar. The contract, wi
Subsea 7, a subsea engineering, construction and services company, has been awarded a substantial contract, offshore Egypt, by Pharaonic Petroleum Company to be executed at water depths of over 900 meters in the Atoll field. Subsea 7 defines a substantial contract as being between $150 million and $
MacGregor, part of Cargotec, has won deck machinery orders for six 64m anchor handling tug supply (AHTS) vessels being built for long-term charter in the Middle East to Saudi Aramco. The order is booked in Cargotec’s 2016 third quarter order intake. MacGregor was awarded the contract by PaxOcean Eng
Royal HaskoningDHV, together with Hyundai Engineering & Construction, has been selected to perform the Front-End Engineering Design (FEED) for the infrastructure of a maritime yard in Ras Al-Khair, Saudi Arabia. Royal Haskoning said last week that the yard would comprise of a shipyard facility for l
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UK-based offshore driller Ensco has been awarded several new drilling contracts for its jack-up rigs while also preparing to stack other rigs that remained unemployed. According to Ensco’s latest fleet status report on Thursday, the 1981-built jack-up rig drilling rig Ensco 84 has been awarded a con
