News
How Russia sold its oil jewel — without saying who bought it
By Katya Golubkova, Dmitry Zhdannikov and Stephen Jewkes MOSCOW/LONDON/MILAN (Reuters) – More than a month after Russia announced one of its biggest privatisations since the 1990s, selling a 19.5 percent stake in its giant oil company Rosneft, it still isn’t possible to determine from public records
Petrobras responds to Dutch lawsuit
Petrobras has responded to a lawsuit filed in Dutch court by a group of international investors against the Brazilian oil company. Earlier this week, Petrobras’ subsidiaries, Petrobras International Braspetro B.V. and Petrobras Global Finance B.V., were mentioned in a legal action filed by Stichting
UK: Union promises to protect BP workers after Magnus sale
Offshore workers’ union in the UK, Unite, has pledged to make sure the rights of BP workers are protected in any transfer to a new employer after BP’s sale of interests in a UK North Sea field and some associated pipeline infrastructure to EnQuest. To remind, BP on Tuesday announced the sale of 25 p
Alphaliner: Boxship Additions Twice as High as Scrapping Forecast
The large number of very large container ships (VLCS) and ultra large container ships (ULCS) due to be delivered in 2017 is projected to be twice as high as 0.75 million TEU containership scrapping forecast for the year, according to Alphaliner. The overall delivery figure for the year stands at 1.6
Gazprom Neft enters exploration license in Sea of Okhotsk
Gazpromneft Sakhalin, a Gazprom Neft subsidiary, has acquired a license for the exploration, development, and production of hydrocarbons at the Ayashsky block, located on the continental shelf of the Sea of Okhotsk. Gazprom Neft said on Tuesday that the license, awarded by the Federal Subsoil Resour
How Russia sold its oil jewel — without saying who bought it
By Katya Golubkova, Dmitry Zhdannikov and Stephen Jewkes MOSCOW/LONDON/MILAN (Reuters) – More than a month after Russia announced one of its biggest privatisations since the 1990s, selling a 19.5 percent stake in its giant oil company Rosneft, it still isn’t possible to determine from public records
Forum’s VisualSoft Expands Software Suite
Forum Energy Technologies’ VisualSoft product line has added new features and capabilities within their software suite. The VisualSoft suite is a toolbox of applications used during survey and inspection of subsea assets, in particular pipelines and cables. The first of the releases features a multi
W&T Offshore to drill three Mahogany wells in 2017
U.S. oil firm W&T Offshore will drill up to eight wells in the Gulf of Mexico this year, including three wells at the Mahogany field and two wells at the Ewing Bank 910 field. W&T said on Tuesday that its capital budget estimate for 2017 is $125 million with plans to drill six to eight wells in [&he
Seajacks Scylla Makes a Brief Stop in Rotterdam
Seajacks Scylla, the world’s largest jack-up vessel, has recently visited the Rotterdam Offshore Group (ROG) terminal in the Waalhaven, soon after installing 67 monopiles at the Veja Mate offshore wind farm some 95 kilometres north west of the island of Borkum in the German exclusive economic zone (
Investors sue Petrobras over losses caused by corruption
An international coalition has filed a lawsuit in Dutch court on behalf of institutional investors who suffered billions of dollars in losses in their investments in the Brazilian state-owned oil company Petrobras. Seeking declaratory relief as a result of the alleged corruption of the company and i
Lenders grant another extension to Olympic to complete restructuring
Norwegian offshore vessel owner Olympic Ship has been granted another extended stand-still to complete its financial restructuring. In July 2016, Olympic informed the company had initiated discussions with the secured lenders in relation to the need for an adjustment to the repayment profile of the
GALLERY: Simek hands over new Arctic class PSV to GulfMark
GulfMark Offshore, a provider of offshore support vessels, has taken delivery of an Arctic class PSV, named the North Barents, from Simek AS shipyard in Norway. GulfMark said on Monday that the platform supply vessel was delivered to its Norwegian subsidiary, GulfMark Norge. The company added that t
BP sells Magnus field, pipeline stakes to EnQuest
BP will sell portions of its interests in the Magnus oil field and some associated pipeline infrastructure in the UK northern North Sea and in the Sullom Voe Terminal (SVT) on Shetland to EnQuest. The British oil major said that the sale includes 25 percent of BP’s 100 percent stake in Magnus; 25 pe
Eni and Nigeria strengthen energy ties
The Minister of Petroleum Resources and the chairman of the Nigerian National Petroleum Corporation (NNPC), Emmanuel Ibe Kachikwu, and Eni CEO, Claudio Descalzi, have signed a MoU to further strengthen the longstanding partnership in Nigeria. NNPC and Eni, through its subsidiaries Nigerian Agip Oil