Fossil Energy
BP’s former employee charged with insider trading
The Securities and Exchange Commission has charged a former 20-year employee of BP p.l.c. and a senior responder during the 2010 Deepwater Horizon oil spill with insider trading in BP securities based on confidential information about the magnitude of the disaster. The price of BP securities fell si
Wessex in talks to acquire Far East offshore assets
Wessex Exploration PLC, the hydrocarbon exploration company, is now in advanced discussions with the vendors of a company holding an interest in a prospective offshore asset in the Far East, which the Directors believe is capable of near-term production. The acquisition, to be paid for by way of sha
DNV GL CEO honored with Lifetime Achievement Award (UK)
DNV GL Group President and Chief Executive Officer Henrik O. Madsen received the coveted Lifetime Achievement Award at the Seatrade Awards in London this week. Recognised for his ‘inspirational leadership’ Henrik O. Madsen was presented the award in the presence of HRH The Princess Royal, together w
Rise in drilling activity to cause oilfield chemicals market to reach $40 bln
Global Industry Analysts has announced the release of a comprehensive global report on Oilfield Chemicals markets. Global market for Oilfield Chemicals is projected to reach $40 billion by 2020, driven by growing demand for energy worldwide, and the ensuing rise in drilling activity in unconventiona
Gauthiers’ opens doors to new facility
Gauthiers’, a Lafayette-based supplier of oil and gas industry containers and support equipment, has announced that the company has officially opened the doors to its newly relocated and expanded Houma facility. By moving to a larger, six-acre property, and constructing a new facility on Highway 182
Keppel: 1Q profit down. CEO confident about future jack-up orders
Singapore’s offshore rig builder Keppel Corp, today reported a decrease in its first quarter 2014 net profit. The company’s net profit was S$339 million, a five percent drop when compared to S$357 million earned in the same period a year ago. According to Keppel’s 1Q report, this result is in line w
MOG: Medoilgas Italia’s Ombrina Mare appeal rejected
The Board of Mediterranean Oil & Gas Plc announces that, following the tribunal hearing held on 9 January 2014 in Rome, the Lazio Regional Administrative Court has rejected the appeal filed by Medoilgas Italia S.p.A, a wholly owned subsidiary of MOG. This appeal was aimed at obtaining an annulment o
WHL Energy: New director brings in 25 years of upstream experience
Australian energy company WHL Energy Limited has named a senior oil and gas executive Jeffrey Schrull as a Non-Executive Director to the WHL Board. Schrull has over 25 years of senior experience in the upstream E&P business, with a particularly strong and successful working history in Africa. He beg
OSD-IMT designs vessels for Swire Pacific Offshore
Swire Pacific Offshore (SPO) is a Singapore-based global service provider to the offshore oil and gas industry. It currently owns and operates 84 offshore support vessels. By 2015 the company will have a total of 100 vessels in its fleet and 34 of them are designed in co-operation with OSD-IMT. Head
Report: $41 billion in oil & gas deals in 1Q 2014
PLS Inc., a leading Houston-based research, transaction and advisory firm, in conjunction with its international partner Derrick Petroleum Services, reports that global upstream oil and gas M&A activity for Q1 2014 totaled $40.7 billion spread across 192 transactions (including 133 with deal value d
McDermott secures spoolbase in Hartlepool for North Sea projects
McDermott International, Inc. has signed an option agreement with PD Ports which gives it the exclusive right to operate a spoolbase to serve projects in the North Sea. McDermott expects to have the facility available for projects in early 2015. Located in Hartlepool, in northeast United Kingdom, th
Schlumberger 1Q revenue rises to $11.24B
Schlumberger Limited today reported first-quarter 2014 revenue from continuing operations of $11.24 billion versus $11.91 billion in the fourth quarter of 2013, and $10.57 billion in the first quarter of 2013. Income from continuing operations attributable to Schlumberger, excluding charges and cred
ACEP worried about alleged Ghana Energy Minister’s signature forging
The Africa Centre for Energy Policy (ACEP) said it was worried that Ghana’s oil and gas industry may be exposed to international ridicule following the alleged forging of the signature of the Minister of Energy and Petroleum by an oil company, Miura Petroleum, claiming the right of first negotiation
Gardline CGG wins three offshore survey contracts
Gardline CGG, a Singapore-based joint venture company between Gardline Geosurvey and CGG, has informed that the M/V Duke survey vessel has been awarded three contracts for 2D seismic survey and geochemical sampling with major companies in Australia and South East Asia. The contracts have a combined