News
Production growth boosts Statoil’s Q1 earnings
Norwegian energy giant and LNG operator Statoil reported a jump in adjusted profit during the first quarter of 2017.
Faroe gets OK for Brasse appraisal
Faroe Petroleum has secured a nod from the Norwegian authorities to drill an appraisal well in the North Sea, off Norway. The Norwegian Petroleum Directorate, which has granted the approval for the well, has said that the well 31/7-2 S will be drilled from the Deepsea Bergen drilling semi-submersibl
Amec Foster Wheeler secures BP contract extension
London-based LNG engineer Amec Foster Wheeler has signed an extension of its global master service agreement with BP.
DNO returns to Norway through Origo acquisition
DNO, a Norwegian oil and gas operator focused on the Middle East and North Africa, has acquired Origo Exploration, a privately-held oil and gas exploration company with a focus on offshore Norway and the United Kingdom. DNO said on Thursday that the company would pick up stakes in 11 exploration and
Hony Capital increases its stake in Santos
Australian LNG player Santos said that the Chinese private equity firm, Hony Capital, has bought 48 million company shares at a price of A$3.84 per share (US$2.84).
Offshore Structures Britain Ships Out Final Walney Extension Transition Pieces
Offshore Structures Britain (OSB) has shipped out the last six transition pieces built for DONG Energy’s Walney Extension offshore wind farm.
Shell’s Q1 profit surges, LNG sales up
The Hague-based LNG giant Shell on Thursday reported a 136 percent surge in the profit for the first quarter, boosted by stronger oil and gas prices and improved refining margins. Shell’s first-quarter earnings on a current cost of supplies (CCS) basis and excluding exceptional items rose to $3.86 b
Shell’s 1Q profit soars
Royal Dutch Shell has reported a sharp rise in its first quarter profit, boosted by chemicals and upstream segment of its business. Current Cost of Supplies (CCS) Income excluding identified items was $3,86 billion, up from $1,6 billion a year ago. The $2.2 billion increase from the first quarter of
Missing Diver Found in Orkney
A diver that went missing was found in Orkney by a dive boat on Wednesday. The dive boat Fair Morn reported to Shetland Coastguard that they had a missing diver off Burwick in Orkney. The Coastguard coordinated an extensive search of the Pentland Firth area involving RNLI lifeboats from Thurso, Long
OPITO: U.S. needs to adopt common offshore safety standards
Oil and gas skills and workforce development organization OPITO has called out to the U.S. oil and gas sector to fully adopt industry standards to improve safety across the Gulf of Mexico in line with other areas in the world. The industry body addressed attendees at the OTC conference in Houston on
Through Singapore’s CLTX, German bourse seeks to tap Asia’s commodities
By Vera Eckert SINGAPORE (Reuters) – Singapore’s Cleartrade Exchange expects the overall market size of its core products of iron ore, shipping, and fuel oil to grow strongly to $200 million (155 million pounds) by 2020, and it aims to take a growing slice of that trading, its chief executive told R
Statoil hands over Polarled gas pipeline to Gassco
Norwegian energy company and LNG player Statoil said it has transferred the operatorship of the Polarled natural gas pipeline to Gassco. The 482-kilometre pipeline between the Aasta Hansteen field in the Norwegian Sea and Nyhamna was delivered NOK 4.5 billion ($520m) below budget, according to a sta
Baltic Dry Index Drops to 1,034 Points
Baltic Dry Index (BDI) has fallen for the eleventh straight session marring its recovery trend from March this year. The index is now at 1,034 points, down by 39 points. This is a considerable fall from the 1,282 point mark BDI passed on March 27, 2017. Cape index had the worst decline this week hav
Harvey Gulf takes new vessel delivery. CEO slams ‘illegal’ foreign fleet
Harvey Gulf International Marine has taken delivery of a Jones Act-compliant multi-purpose support vessel Harvey Subsea. This is the first of two such vessels expected for delivery to Harvey this year. A sister ship, Harvey Blue-Sea, is scheduled for delivery in July 2017. The U.S. company has descr