Lamprell, a UAE-based provider of fabrication, engineering and contracting services to the oil & gas industry, has appointed Christopher McDonald as its new Chief Executive Officer (CEO) and director. Lamprell said on Wednesday that McDonald will be succeeding Jim Moffat who will be retiring from th
By Henning Gloystein SINGAPORE (Reuters) – Oil rose on Monday, driven by new orders as traders staked out positions at the start of the new month, but the market remains dogged by plentiful crude supplies, a flood of refined products, and a weakening economic outlook. Brent crude was at $43.72 per b
Popular news, July 25 – 31, 2016
Asia Offshore Drilling (AOD) has received three-year contract extensions for two jack-up rigs from Saudi Aramco. AOD is an associate company of Mermaid Maritime and Mermaid has 33.76 percent equity stake in AOD while the other 66.24 percent equity is owned by Seadrill. The extension is for two jack-
By Karolin Schaps LONDON (Reuters) – Oil prices fell close to three-month lows on Wednesday after U.S. industry data showed weekly oil stocks declined by less than expected, feeding into concerns over persistent oversupply dragging down prices. Global benchmark Brent crude <LCOc1> was on track for t
McDermott International and Nakilat-Keppel Offshore Marine (N-KOM), have announced a Memorandum of Understanding for an exclusive cooperation agreement to pursue offshore engineering, procurement, construction and installation (EPCI) projects within Qatari waters. According to McDermott, under the f
Lamprell, a provider of fabrication, engineering and contracting services to the energy industry, has informed that delivery of the jack-up drilling rig which had been scheduled for delivery in 2Q 2016 has been delayed. The company said on Tuesday that the rig is in its final stages of commissioning
By Henning Gloystein and Osamu Tsukimori SINGAPORE/TOKYO (Reuters) – Oil prices held near two-month lows on Monday amid worries that a global crude and refined product glut would weigh on markets for some time to come. International Brent crude oil futures <LCOc1> were trading at $45.51 per barrel a
popular news Offshore Energy Today Staff
Polarcus, an offshore geophysical company, has tightened its loss during the quarter compared to a year earlier period despite drop in revenues. The geophysical company’s net loss for the quarter was $11.2 million, versus $78.3 million in the corresponding period last year. Polarcus’ revenues droppe
Offshore drilling contractor Transocean has stacked six rigs and has received new rig contracts as well as changed dayrates for several of its rigs. In the company’s latest fleet status report, covering a period from April to July 2016, the driller revealed that six rigs have been stacked; the 1999-
Following reports on Wednesday of Saudi Aramco awarding contracts for it Fadhili development in Saudi Arabia, a confirmation came from India’s Larsen & Toubro (L&T). L&T said that its subsidiary L&T Hydrocarbon Engineering (LTHE), in consortium with Emas Chiyoda Subsea (ECS) has won a large EPCI con
India’s Larsen & Toubro has reportedly received a contract for work on Saudi Aramco’s Fadhili development in Saudi Arabia. The news, however, is yet to be officially confirmed, as it appeared on CNBC TV channel, where it’s been reported that L&T signed a dealwith Saudi Aramco to build offshore gas u
DUBAI (Reuters) – Iran will issue a preliminary list of international energy companies eligible to take part in tenders to develop its oil and gas fields within the next two weeks, a senior Iranian oil official said on Monday. “Not all foreign companies active in the oil industry can participate in
