Oil prices have been extremely volatile since the first trading day of 2016 and hit 12-year lows last week with Brent dropping below $33 a barrel for the first time since 2005, Douglas-Westwood, an energy intelligence group, has said in its DW Monday report. The fall in the Chinese manufacturing ind
PACC Offshore Services Holdings Ltd., an offshore vessel provider also known as Posh, has entered into a joint venture with a Saudi company, in order to deeper penetrate the Middle East market. According to Posh, the joint venture with Saudi Arabia’s Hmood Al-Khalaf Group, is in line with the Group’
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The international offshore rig count for December 2015 has dropped by 88 rigs when compared to the same period last year, according to a report by Baker Hughes, an oilfield services provider. The international offshore rig count for December 2015 was 250, down 9 from the 259 counted in November 2015
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Wood Mackenzie, one of the world’s largest energy market intelligence companies, expects that upstream merger and acquisition (M&A) activity will increase in 2016, though the shape of that activity will be dictated by oil prices. Should they remain low, balance sheets will become ever more stretched
By Henning Gloystein SINGAPORE (Reuters) – Brent crude prices tumbled over 4 percent to levels not seen since April 2004 on Thursday as a sliding yuan and a second emergency halt in China’s stock trading this week left Asian markets in turmoil. A huge supply overhang and near-record output levels al
Despite an ample supply of oil and gas assets on the market due to low oil prices, the overall merger and acquisition (M&A) deal count in the upstream energy sector plunged in 2015 as the weakness and volatility in oil prices made it difficult for buyers and sellers to achieve consensus on value and
2015 was a tough year. Spending and headcounts have been slashed across the industry and the spectre of bankruptcy is an all too common concern, Douglas-Westwood, an energy intelligence group, said in its latest DW Monday report. Recent trends in commodity prices have not helped, DW noted. Late Dece
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