Fossil Energy
Kosmos returns to 2Q profit
Kosmos Energy Ltd. announced today financial and operating results for the second quarter of 2014, which included net income of $57 million, or $0.15 per basic and diluted share as compared with a net loss of $71 million, or $0.19 per basic and diluted share in the same quarter last year. As previou
‘VOS Hades’ begins Aberdeen adventure
VOS Hades Emergency Response and Rescue Vessel has joined the Vroon Offshore Services Aberdeen fleet. Following successful deployment for Vroon Offshore Italia SRL during the past five years, the vessel has now been repositioned within the Vroon fleet to Aberdeen, where she will operate under the UK
Bank of England’s Spencer Dale becomes BP’s Chief Economist
BP today announced the appointment of Spencer Dale as its new Group Chief Economist with effect from the end of October. Dale joins BP from the Bank of England where he is currently Executive Director for Financial Stability Strategy and Risk. He is also a member of the Bank’s Financial Policy Commi
CAMAC: Oyo-8 well hits oil (Nigeria)
“We are one step closer to bringing these two high-impact development wells on production” says Senior Vice President of Exploration and Production
Pinsent Masons: Sharp spike in oil & gas arbitration cases in 2013
A high oil price and global political unrest has led to a sharp spike in major oil and gas arbitration cases for settling complex multi-million pound legal disputes. Research by legal firm Pinsent Masons found a leading arbitration body had received double the number of energy related cases in 2013
Sembcorp Marine’s 2Q profit boosted by rig building division
Singapore’s Sembcorp Marine has reported its revenue for 2Q 2014 was $1.34 billion, a 19% increase compared with $1.12 billion for the same period in 2013. Group gross profit of $194 million was 36% higher on year-on-year basis while operating profit was 6% higher at $154 million, mainly due to fore
Paragon Offshore spin-off completed
Noble Corporation plc announced today that it has completed the spin-off of all of the outstanding shares of Paragon Offshore plc, which owns most of Noble’s standard specification drilling business. As a result, Noble and Paragon are now two separate, publicly-traded companies. On August 1, 2014, N
BHP Billiton, BG Group successfully bid for Trinidad offshore acreage
UK’s BG Group and Australia’s BHP Billiton have been announced as successful bidders in the 2013 offshore licencing round in Trinidad & Tobago. The twin island Carribean country’s Ministry of Energy and Energy Affairs revealed the names of the successful bidders in 2013 Deepwater Competitive Bid R
Thai Bangchak in Nido swoop
Australia’s Nido Petroleum directors have recommended their shareholders to accept a takeover bid by BPC Energy International, a subsidiary of the Thai-based Bangchak Petroleum Public Company Limited. Nido Petroleum Limited (Nido) and BCP Energy International Pte. Ltd (BCPE) have executed a bid im
Fisher Offshore names new MD
Fisher Offshore, an energy industry service company, part of James Fisher and Sons plc, has underlined its commitment to continued growth with the appointment of a new managing director. Jack Davidson has been promoted from the role of operations director to lead the business as it prepares for the
Fosun launches takeover offer for ROC. Horizon drops out of the game
Australia’s independent oil company ROC has withdrawn from a merger agreement reached in April with Horizon Oil, after receiving a better offer from Fosun. China’s Fosun has offered AUD 0.69 per ROC Share valuating the target company at approximately A$474 million. The offer represents a 52% premi
SPE hosts event on workplace discrimination in oil & gas industry
The Society of Petroleum Engineers (SPE) will host what they call a world-first event in October to discuss the topic of workplace discriminatory challenges, specific to the oil and gas industry. The “Breaking the Cycle of Discrimination—Workplace Challenges in the Oil and Gas Industry” premier inte
Malaysian oil company assists in MH370 search
PETRONAS continues to provide technical support and funding for the search-and-recovery (SAR) operations for the missing Malaysia Airlines flight MH370 by deploying an underwater search equipment and a support vessel to the new search zone. The national oil company will fund RM67 million for deploym
AWE has two months to decide on Otway Basin drilling
Australian energy company WHL Energy Limited has informed that the final Seismic Volume Report for the “La Bella” 3D seismic survey has been received on schedule and provided to the VIC/P67 JV partners, AWE Limited (“AWE”) and Tap Oil Limited (“Tap”). The fully processed Seismic Volume Report has be