Fossil Energy
ConocoPhillips 4Q Net Profit Up on Assets Sales
ConocoPhillips today reported fourth-quarter 2013 earnings of $2.5 billion, or $2.00 per share, compared with fourth-quarter 2012 earnings of $1.4 billion, or $1.16 per share. Excluding special items, fourth-quarter 2013 adjusted earnings were $1.7 billion, or $1.40 per share, compared with fourth-q
Aker Solutions, Cargotec Complete Pusnes Transaction
Aker Solutions has completed the sale of its mooring and loading systems business to Cargotec for an enterprise value of NOK 1.4 billion ($ 288 million) The unit, known for the Pusnes brand name, provides mooring equipment, loading and offloading systems, as well as deck machinery for the global off
Record Revenues for Cameron
Oilfield equipment maker Cameron today reported record quarterly and yearly revenues. Orders booked in the fourth quarter of 2013 totaled $3.3 billion Cameron reported earnings per share for the fourth quarter of 2013 of$1.00, excluding charges. This compares to earnings per share for the fourth qua
Kongsberg Confirms Contract for Petrofac’s New Derrick Lay Vessel
Kongsberg has confirmed it has been appointed as the supplier and integrator of all electrical, telecom and integrated control systems for the new Petrofac JSD 6000 deepwater derrick lay vessel. The vessel will be built at the Shanghai Zhenhua Heavy Industry Co., Ltd (ZPMC) yard in China for Petrofa
Thailand: PTTEP Posts Flat 2013 Net Profit
Thailand’s PTTEP today posted a recurring net profit of USD 1,846 million, similar to the previous year’s result of USD 1,846 million, comprising of a recurring net profit of USD 2,114 million and a loss from non-recurring items amounting to USD 268 million. The losses from non-recurring items are
Hugh McClure to Oversee Dana’s Development Projects
Dana Petroleum has appointed Hugh McClure as Director of Capital Development Projects to oversee all future and existing operated assets.
iSURVEY Group Opens Offshore Division (UK)
iSURVEY Group has announced the launch of a new offshore division as part of UK growth plans. iSURVEY Group, a Norway-based provider of survey and positioning services to the global oil and gas and telecommunications sectors , is establishing a new Aberdeen-based entity supporting clients operating
API Calls for Obama to Create More Oil & Gas Jobs
American Petroleum Institute’s CEO Jack Gerard has called president Barack Obama to seize the moment and reduce income inequality by allowing more oil and gas jobs to be created. Gerard laid out energy policies that President Obama can take unilaterally to achieve his State of the Union goal of reli
STATS Replaces Oil Export Line in North Sea
STATS were contracted by a major oil producer to supply high pressure isolation plugs to provide a double block and bleed isolation barrier for the safe tie-in of a replacement section of the main 24-inch oil export line from the platform, without having to de-oil the entire 80km pipeline. To facili
Talisman Spuds Exploration Well Offshore Vietnam
Talisman has kicked off drilling of a new exploration well in the Block 07/03, off the coast of Vietnam. According to Pan Pacific Petroleum, which owns a share in the block, the semi-submersible drilling rig the “Ocean General” spudded the 07/03-CD-1X exploration well on 28th January. The well is be
ION Buys More Interest in OceanGeo
ION Geophysical Corporation has increased its ownership interest in OceanGeo B.V., a geophysical company specializing in multicomponent ocean bottom seismic acquisition. ION now owns 70% of OceanGeo, up from the 30% the Company acquired in February 2013. Formerly known as GeoRXT, OceanGeo is owned b
ConocoPhillips: Gas Shows at Grace-1 Well, Offshore Australia
ConocoPhillips has encountered ‘encouraging’ gas shows at its Graca-1 well, in the Browse Basin, offshore Western Australia. According to Karoon Gas Australia , on 26 January 2014, Grace‐1 reached total vertical depth at 5069mRT. A zone of interest was encountered in the Jurassic volcanic interval a
Shell to Continue with Asset Sales. Puts Arctic Drilling on Hold
Speaking to investors today, new Shell CEO Ben van Beurden updated on the company’s priorities: improving Shell’s financial results and achieving better capital efficiency, as well as continuing to strengthen operational performance and project delivery. Ben Van Beurden, who became the new CEO of Ro
Shell 4Q Earnings Plunge to $2.2 B. 2014 Capex Reduced
Royal Dutch Shell today reported earning for fourth quarter 2013 earnings of $2.2 billion compared with $7.4 billion in the same quarter a year ago. Full year 2013 CCS earnings were $16.7 billion compared with $27.2 billion in 2012. Fourth quarter 2013 CCS earnings excluding identified items were $2