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Offshore Equipment Hydraulic Maintenance Tip-of-the-Day: Condition Monitoring

Oct 26, 2020

Tip #5: Condition Monitoring - If it isn’t broken, let it beContrary to popular belief, machines running smoothly should never be left alone. Regular hydraulic oil sampling will give insight to the overall systems health. Key indicators in the…

Giant Tuna Offshore Gas Find Could Save Turkey $21B

Sep 09, 2020

Turkey could save up to a whopping $21 billion in gas import costs with the development of it recently hit Tuna-1 gas discovery in the Black Sea, Norwegian energy intelligence firm Rystad Energy has estimated.As previously reported, Turkish…

Poland Could Become Climate Neutral by 2056

Aug 21, 2020

Poland, the only European Union country that has not pledged to be carbon neutral by 2050, could reach that goal by 2056, a study by the state Polish Economic Institute (PEI) showed on Wednesday.Poland generates almost 80% of electricity from…

Why U.S. Energy CEOs will Get Big Payouts Despite Oil Meltdown

May 28, 2020

National Oilwell Varco Inc (NOV) has had a rough few years: Since 2017, the Houston company, whose drilling equipment is in major oilfields worldwide, has lost two-thirds of its value, costing shareholders a combined $9 billion.Despite that performance…

Rystad: Oilfield Services Firms' Market Cap Halved. Offshore Drillers Have it Worst

May 15, 2020

Oilfield services companies have collectively lost almost half of their market capitalization, hit by the combination of the coronavirus pandemic and low oil prices, with offshore drillers, in particular, the most affected, Norway's Rystad Energy has said in its analysis released on Friday…

Aker BP Expects Pre-tax Loss Due To Oil Price Slump Charges

Apr 24, 2020

Norwegian independent oil company Aker BP said on Friday it expected to report a pre-tax loss due to impairments worth $500 million-$700 million related to the oil price crash.North Sea oil prices hit more than 20-year lows this week as demand…

U.S. Oil Firms' Quarterly Reports to Show Depths of Slump

Apr 22, 2020

Investors are in for more bad news on the energy front in the coming weeks as a host of the sector's biggest companies report quarterly results following the historic collapse in oil prices.Forecasts for U.S. energy sector earnings this year have dropped along with oil prices…

'Historic' Hit, as Oslo Plumbs New Depths

Mar 09, 2020

Norwegian offshore suppliers on Monday endured a perfect storm of economic shockwaves after the oil price collapsed 30 percent over the weekend and sent oil stocks plummeting en masse in a way not seen for two decades.By around midday in Oslo…

Petrobras Expects Dip in Oil Exports on Offshore Maintenance Works

Feb 21, 2020

Oil exports by Brazilian state-run Petrobras should fall slightly in the first quarter, thanks to scheduled maintenance stoppages at offshore platforms, executives said on Thursday.On a conference call to discuss the firm's fourth-quarter results…

Ørsted Tops World's Sustainable Companies

Jan 21, 2020

The global leader in offshore wind Ørsted becomes the first-ever energy company to top a index.The Denmark-based global power company has outperformed more than 7,300 global companies with billion-dollar revenues to rank #1 in Corporate Knights'…

SGRE Reaches $1.9Bn Green Guarantee Lines

Jan 05, 2020

Siemens Gamesa Renewable Energy (SGRE) has announced that in less than a year, and aligned to its commitment to sustainability it has accumulated €1.72 billion ($1.9Bn) in green guarantee lines.'SGRE is moving forward in its strategy of making…

Oil Prices Set for Biggest Yearly Rise Since 2016

Dec 31, 2019

Oil rose on the last trading day of the decade on Tuesday and was on track for monthly and annual gains, supported by a thaw in the prolonged U.S.-China trade row and Middle East unrest.Brent crude was up 11 cents at $66.78 a barrel by 1143 GMT…

Timeline: Saudi Aramco's Winding Road to IPO

Dec 06, 2019

State-run oil giant Saudi Aramco has priced its initial public offering (IPO) at the top of its indicative range, making it the world's biggest flotation by raising more than Alibaba's $25 billion listing in 2014.Here are key events in the Saudi state oil giant's planned stock market debut…

Petrobras Produced 3.0 Mbbpd in August

Sep 03, 2019

Brazilian state-run oil company Petroleo Brasileiro SA produced 3.0 million barrels of oil equivalent per day (boepd) on average in August, according to a securities filing on Tuesday, up 21.6% from the same period a year ago.Petrobras, as the company is known…

Tullow Decides $33 Mln Interim Payout

Jul 25, 2019

The board of British oil producer Tullow will pay an interim dividend of 2.35 cents per share, representing a payout of about $33 million, the company said on Wednesday, in line with plans to disburse at least $100 million a year.The dividend…

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