Maersk Oil Loses Qatar
Maersk Oil says it will be leaving Qatar after losing the contract to operate the country’s largest producing offshore oil field. The news comes as
Maersk Oil says it will be leaving Qatar after losing the contract to operate the country’s largest producing offshore oil field. The news comes as
By Justin Sink, Josh Wingrove and Jennifer A. Dlouhy (Bloomberg) — President Barack Obama and Canadian Prime Minister Justin Trudeau announced steps to
OSLO, Feb 24 (Reuters) – Offshore supply vessel owners must form larger companies in order to restore profitability to an industry battered by plunging
By Javier Blas (Bloomberg) — After a year of low oil prices, only 0.1 percent of global production has been curtailed because it’s unprofitable,
By Kyunghee Park and Jonathan Burgos (Bloomberg) — Keppel Corp.’s uncertainties about the oil- rig market are set to continue after a key customer in
By Adam Williams (Bloomberg) — While more than 180,000 onshore wells are producing oil in Texas, only 8,250 have been drilled by Petroleos Mexicanos
By Mikael Holter (Bloomberg) — The number of Norwegian offshore vessels with nothing to do has gone from zero to 100 in just a year. And the woes are
Deep Sea Supply, the Norwegian PSV and AHTS owner controlled by billionaire John Fredriksen, says it now has 10 vessels in lay-up and more are expected with
The number of offshore vessels laid-up in the North Sea now stands at 93 and it seems new vessels are being stacked almost daily, according to data by
By Mikael Holter (Bloomberg) — The state’s oil income is on track to dip to the lowest in at least six years. Net income from the Norway’s
By Rakteem Katakey and Javier Blas (Bloomberg) — Royal Dutch Shell Plc reported its biggest net loss in at least 16 years after Europe’s largest
By Aibing Guo (Bloomberg) — Cnooc Ltd., China’s biggest offshore oil and gas producer, posted a 32 percent decline in third-quarter sales as a slump in
Drilling contractor Transocean announced Monday that the delivery of two newbuild drillships currently under construction in South Korea will be delayed
Maersk Oil says it intends to implement workforce reductions amounting to 10% to 12% of its global workforce amid the low price of oil. The move,
OSLO, Oct 8 (Reuters) – Offshore rig driller Seadrill is facing another two years in the doldrums but hopes the international rig market could
By Javier Blas and Will Kennedy (Bloomberg) — Oil prices will remain at $40 to $60 a barrel into 2016 as rising crude supplies overwhelm demand,
By Anthony DiPaola (Bloomberg) — Eni SpA discovered a “super giant” natural gas field offshore Egypt in what the Italian oil company
Norwegian platform supply vessel owner World Wide Supply says that the weak spot market in the UK sector of the North Sea has forced it to lay-up two
By Angelina Rascouet and Manisha Jha (Bloomberg) — Demand for oil services is rising in the Middle East even as the rout in crude prices forces
By Saleha Mohsin (Bloomberg) — Norway’s economic growth slowed in the second quarter as plunging crude prices sap investments and drive up
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