Mexico will offer its ailing state oil company Pemex a lifeline for only one year by dipping into its budget stabilization fund, Finance Minister Carlos Urzua said on Friday, ruling out that the government will absorb the debt.With $106 billion in financial debt…
Mexico's deputy finance minister said on Thursday the government was considering using part of a $15.4 billion public income stabilization fund to pay some debt obligations for heavily leveraged state oil company Pemex.The finance ministry is…
The chief executive of Mexican state oil company Pemex on Monday questioned credit agency downgrades to the firm's debt, saying the same agencies had not acted when the company's investment and oil exploration activity diminished under past governments…
DNV GL announced Thursday that it has opened a new facility in Houston to provide failure analyses that support the industry in conducting effective and efficient root cause analyses.The facility will carry out the initial steps of a failure investigation…
French energy giant Total is in advanced talks with privately owned firms Albion Energy and First Alpha Energy Capital on the sale of some of its British North Sea assets, two industry sources said.In July, four banking sources told Reuters…
DNV GL said it has secured a contract from the American Petroleum Institute (API) for the full-scale S-N fatigue testing of large diameter bolts. The objective of the program is to improve fatigue assessments of critical bolted connections particularly…
The United States will become a key source of energy supplies to meet growing demand globally, with innovation in technology and financing set to boost U.S. oil and gas production in the next decade, the country's top energy diplomat said.'In the next 5-10 years…
Though the tanker market has been a global maritime laggard in 2018, with overcapacity cited as the chief culprit, apparently it could not dissuade PAO Sovcomflot (SCF Group) from inking a deal wih Rosneft, Zvezda Shipbuilding Complex and VEB Group for a pair of Aframax tankers…
The scale and severity of the recent international ransom-ware cyber attack has elevated urgency in the oil and gas industry to detect and defend against potentially debilitating threats and actions. Michie…
Douglas Stephens will assume the role of president and chief executive officer of Frank’s International effective 15 November 2016. Image of Douglas Stephens, from Frank's International. Stephens was most recently with Baker Hughes…
Frank’s International entered into a definitive US$321 million merger agreement to acquire Blackhawk Group Holdings, Inc., the ultimate parent company of Blackhawk Specialty Tools, a provider of well construction and well intervention services and products…
Frank’s International provided its FA-1 casing running tool (CRT) for a project in the Gulf of Mexico that the company says established a new worldwide milestone in casing while drilling (CwD) operations. FA-1 was modified for 30in casing…
Frank's International deployed its patented 1250-tonne Buoyancy Module (BM) Spider along with ExPert Landing String Solutions’ (ExPert) Drill Pipe Buoyancy Modules to help Anadarko achieve a nearly 250,000-pound reduction in total weight…
Ampelmann appointed three new members to the supervisory board: Frank Verhoeven, John Evans, and Mark B. Duncan. Verhoeven is member of the board of management of Royal Boskalis Westminster since 2012 and of Smit since 2010. He joined…
The National Ocean Industries Association (NOIA) board of directors has elected Kevin McEvoy as chairman and Dave Welch as vice chairman for the upcoming 2016-2017 term. McEvoy and Welch assumed their positions at the NOIA Annual Meeting in Washington…
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