By Jacob Gronholt-Pedersen and Stine Jacobsen COPENHAGEN, Aug 17 (Reuters) - A.P. Moller-Maersk said on Friday it would spin off its offshore drilling operation and list it in Copenhagen next year, the latest move by the Danish shipping company to focus entirely on transport and logistics. Maersk, which cut its full-year profit outlook this month, sold Maersk Oil to … [Read more...]
Mega Oil and Gas Projects Are Back
By Dan Murtaugh (Bloomberg) -- Investors are about to find out whether the world’s largest oil companies have learned their lesson from $80 billion of cost blowouts in major projects during the era of $100 crude. From liquefied natural gas in Mozambique to deep-oil in Guyana, the world’s biggest energy companies are gearing up to sanction the first slate of … [Read more...]
Sembcorp Marine Swings to Q2 Loss, Says Outlook Gloomy
SINGAPORE, July 20 (Reuters) - Singaporean rig builder Sembcorp Marine Ltd swung into the red in the second quarter, and cautioned a trend of negative operating profit would continue in the near term as overall business volume remains low. It turned in a loss of S$55.6 million ($40.68 million) for the three months ended June, compared with a profit of S$5.1 million … [Read more...]
Transocean Lands 11-Well Contract for ‘GSF Development Driller I’ in Australia
Offshore drilling contractor Transocean says its ultra-deepwater semi-submersible GSF Development Driller 1 has been awarded an 11-well contract offshore Australia for Chevron. The contract is expected to commence in the first half of 2019 and will span approximately 955 days. Transocean said the firm contract backlog amounts to approximately $158 million excluding … [Read more...]
Offshore Strike in Norway Expands to More Than 1,500 Workers
OSLO, July 15 (Reuters) - A Norwegian union for workers on offshore oil and gas drilling rigs stepped up a six-day strike on Monday that has slightly hit oil output after employers did not respond to demands for higher wages and pension benefits. The union is adding 900 workers to the strike, under a plan announced last week, after failing to win concessions before a … [Read more...]