oil prices

(Reuters) Exploration firms have made a rare run of oil and gas discoveries in recent weeks as more targeted search strategies bear fruit, but they offer

Maersk Supply Service has confirmed that it is laying up two more anchor handlers in response to the abysmal offshore oil and gas market. The two vessels to be

Rolls-Royce Group Plc, which is already eliminating about 2,600 positions globally, said it will cut an additional 600 jobs at its marine unit that’s

Subsea 7 says that the cuts will reduce its global workforce by approximately 2,500 jobs by early 2016, down from the 13,000 worldwide employees reported at

Diamond Offshore Drilling Inc, one of the world's top five offshore rig contractors, said it was scrapping three rigs in the face of weak demand due to a steep

Lower oil prices are sharply reducing the cost of shipping merchandise from Asia to the United States and Europe as the cost of bunker fuel

Billionaire John Fredriksen has sailed through troubled waters before. This time, he plans to make the most of a brutal downturn in offshore drilling amid a

Russian oil firm Rosneft has cancelled a contract for a two-and-a-half year rig contract with Northern Offshore and Seadrill's North Atlantic Drilling Ltd, the

Gulf Marine Services increased full-year profit after a decline in crude prices boosted demand for its low-cost support vessels for offshore oil

Bourbon SA, a French supplier of ships and crew to oil and natural gas producers, said margins may drop this year following a 36 percent profit slump in 2014

Vitol said today crude could resume a slump that saw prices fall 61 percent between June and January, as unrelenting growth in U.S. output leads to a

The recent surge in oil prices is just a "head-fake," and oil as cheap as $20 a barrel may soon be on the way, Citigroup said in a report on Monday as it

Exxon Mobil Corp. reported a steep drop in fourth-quarter profit on lower prices and declining production as the rout in oil ushered in an era of frugality for

Japan Marine United Corp., Japan’s No. 2 shipbuilder, said demand for offshore supply and support vessels has stalled after crude oil plunged to a six-year

he United Arab Emirates oil minister said on Monday that the drop in oil prices was unlikely to last for long and that the country would not alter its energy

Oil traders have booked at least 12 tankers to store 25 million barrels of crude at sea in a further sign of a build-up in global stocks, according to shipping

Frontline Ltd., the oil tanker company led by billionaire John Fredriksen, surged in Oslo trading amid speculation that a plunge in crude prices is spurring

Some of the world's largest oil traders have this week hired supertankers to store crude at sea, marking a milestone in the build-up of the global

Offshore oil-drilling contractors, who last year were able to charge record rates for their vessels, are now under pressure to scrap old rigs at an

Crude oil prices are poised to fall below half where they were six months ago, before producers begin dealing with a global