Kongsberg Maritime reported that its K-CAT (KONGSBERG Competence Assessment Tool) is receiving positive reports from the global oil & gas fleet supplier Siem Offshore, consolidating a deal between the two companies worth in the region of $68…
Gulf Marine Services (GMS), a UAE-based provider of offshore service jack-up units has rejected a takeover proposal from Seafox.Seafox on April 30, 2020, announced an unsolicited and non-binding approach to acquire the entire issued and to be issued share capital of Gulf Marine Services…
The Dutch government said on Thursday it is providing ailing shipbuilder Royal IHC with a lifeline of up to almost 400 million euros ($435 million), enabling the company's takeover by a consortium of marine companies and investors from Benelux countries…
Offshore wind farm developer Ørsted has said that its offshore wind farm Borssele 1 & 2 in the Dutch North Sea has delivered first power to the Dutch grid. The first wind turbine is now supplying electricity.Borssele 1 & 2 is located 22 kilometers…
Oil prices jumped again on Tuesday on hopes for a recovery in vehicle traffic and fuel demand as some European and Asian countries along with several U.S. states began to ease coronavirus lockdown measures.West Texas Intermediate (WTI) crude futures were 7…
It's hardly news that the COVID-19 pandemic has sent most every market into tumult, most notably the oil and gas market as political power plays flood the world with oil precisely when demand has plummeted. Here we provide some recent insights…
Subsea clean energy company EC-OG has said it has received £1.6 million from an investment consortium led by Par Equity. The company plans to use the cash to commercialize its innovative Halo battery storage system designed for subsea applications…
The Dutch owner of a fleet of offshore jack-up service vessels Seafox has made a non-binding proposal to take over the UAE-based jack-up specialist GMS. Both companies provide offshore service support jack-up units for hook-up and commissioning in the oil & gas and offshore wind industries…
A major Nigerian oil union has suspended planned industrial action after 21 Exxon Mobil Corp. employees quarantined last week after their arrest for violating coronavirus-related movement restrictions were freed, it said on Sunday.The governor of southern oil hub Rivers State…
Diamond Offshore Drilling Inc filed for bankruptcy protection in Texas on Sunday, after the company recently skipped making an interest payment and said it had retained restructuring advisers.The Houston-based contract drilling company's filing…
Offshore services company Oceaneering has won a contract to complete seabed route and debris clearance for the Moray East Wind Farm project in the Moray Firth, Scotland.The contract, of an undisclosed value, has been awarded by Moray Offshore Windfarm (East) Limited (MOWEL)…
Yinson has completed an $800 million refinancing exercise for FPSO John Agyekum Kufuor, with the loan drawn down on April 14.The FPSO firm had announced the refinancing deal for the FPSO located in Ghana back in November 2019. The company at…
ConocoPhillips said on Thursday it would slash planned spending 35%, cut production by about 225,000 barrels of oil per day {bpd) and suspend its share repurchase program to weather the collapse in oil prices.Oil and gas producers have sunk…
London-listed oil company Tullow Oil has appointed Rahul Dhir as Chief Executive Officer and an Executive Director of the Group.Dhir will begin under his new role from July 1, 2020 and Dorothy Thompson, currently, Executive Chair of Tullow will…
U.S. oil futures continued to trade in negative territory on Tuesday, after closing down nearly $40 on Monday in their first-ever sub-zero dive, as concerns grew the United States will run out of storage for a glut caused by the coronavirus lockdown…
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