Finance News

 

Exxon Appoints Bank to Sell Malaysia Assets

Oct 09, 2019

Exxon Mobil Corp has appointed Bank of America Merrill Lynch to run the sale of its Malaysian oil and gas assets as the U.S. firm accelerates a vast disposal program, banking and industry sources said.The Malaysian assets, which include stakes in two large fields, are expected to fetch up to $3 billion, the sources said.Exxon is exploring a sale of its Malaysian oil-and-gas producing assets, among a number of other properties worldwide…

Schlumberger Profit Beats Estimates

Oct 18, 2019

Schlumberger NV beat Wall Street estimates for profit on Friday, in the first quarter under Olivier Le Peuch, as higher international drilling activity boosted demand for its equipment and services and helped counter weakness in North America…

SBM Secures Liza Unity Financing

Oct 16, 2019

SBM Offshore completed the $1.14 billion project financing of Liza Unity floating production, storage and offloading unit (FPSO), the Netherlands-based company announced on Wednesday.The project financing was secured by a consortium of nine international banks…

Hedge Funds Turn Bearish on Oil: Kemp

Oct 14, 2019

By early last week, hedge funds had become the most bearish towards petroleum prices since the start of the year, as traders grew increasingly pessimistic about the global economy.Hedge funds and other money managers sold the equivalent of 95…

BP Spurs $10 Bln Divestment Target

Oct 11, 2019

BP will take charges of $2 to $3 billion in the third quarter, the British energy firm said on Friday, as it looks to reach divestments worth $10 billion by the end of 2019, a year ahead of schedule.In a statement, London-based BP said it expects…

BW Energy IPO Awaits 'Right Window'

Oct 10, 2019

Norway's BW Offshore will wait for markets to stabilize before launching a planned initial public offering of its oil production arm, BW Energy, an executive said on Thursday.'We are generally ready to go to the market for a listing... however…

Equatorial Guinea Says Currency Caps Will Hurt Energy Prospects

Oct 10, 2019

New currency controls enforced by the Bank of Central African States (BEAC) could ruin the oil and gas industry in the Gulf of Guinea and 'destroy' Equatorial Guinea's economy, the country's oil minister told Reuters on Wednesday.Equatorial Guinea…

In Norway, Cost Overruns Are Good Times

Oct 08, 2019

Order delays, cancellations and decision-gate debates have been hampering Norwegian oilfield owners grappling with a vastly weakened currency and projects — like the not-on-time and not-on-budget, Martin Linge — that have burst budgets.While several fields have been made scaled back (Bauge…

TGS Posts Record Q3 Revenue

Oct 08, 2019

Norway's TGS, a supplier of seismic data to the global oil industry, reported record third-quarter revenues on Tuesday, beating both its own and analysts' forecasts, the company said.So-called net segment revenues hit $277 million for the July-September period…

Martin Linge, Njord Cost Estimates Climb

Oct 07, 2019

Norway's Martin Linge offshore oil and gas project will cost $865 million more than previously expected and take an extra half year to come on line, the government and operator Equinor announced on Monday.The government has also raised its estimate…

Norway Sovereign Fund to Divest E&P Firms

Oct 02, 2019

Norway's $1.1 trillion sovereign fund will divest companies solely dedicated to oil and gas exploration and production in a bid to shield itself from a long-term fall in oil prices, the finance ministry said late on Tuesday.The move will partly…

Polarcus Gets Prefunding for Australia Survey

Oct 01, 2019

Polarcus said it has secured high industry prefunding for a multi-client XArray project in Australia.The project will commence in the fourth quarter of 2019 with an approximate duration of two months.

Mozambique Eyes $880 Mln in Tax from Anadarko Takeover

Sep 27, 2019

Mozambique is targeting $880 million in capital gains tax from the takeover of Anadarko Petroleum by Occidental Petroleum, local newspaper O Pais reported on Friday.Anadarko led a liquefied natural gas project in the southern African country…

Malaysia Could List Petronas' Exploration Arm

Sep 27, 2019

Malaysia is considering listing the exploration and production arm of state energy company Petronas, the world's third-biggest exporter of liquefied natural gas, state news agency Bernama reported on Friday citing Prime Minister Mahathir Mohamad…

Gulf Marine Services Gets Capital Respite

Sep 27, 2019

Gulf Marine Services Plc said on Friday it reached an agreement with lenders to ensure it would have continued liquidity until the end of the year, nearly a month after its top boss quit after the company warned of a shortfall in full-year profit…

Current News

Schlumberger Profit Beats Estimates

Schlumberger Profit Beats Estimates

Petrobras Posts Another Major Production Boost

Petrobras Posts Another Major Production Boost

Eni CEO: No Future for Firms Working in Just O&G

Eni CEO: No Future for Firms Working in Just O&G

TechnipFMC Wins EPCI Contract from Woodside

TechnipFMC Wins EPCI Contract from Woodside

Partners Plan Floating Wind Farm in South Korea

Partners Plan Floating Wind Farm in South Korea

Maersk Drilling Scores POSCO Contract

Maersk Drilling Scores POSCO Contract

Woodside Makes FID for Pyxis Hub Project

Woodside Makes FID for Pyxis Hub Project

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Offshore Engineer (Sep/Oct 2019)

This issue of Offshore Engineer is dedicated to Big Data and Digitalization

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