Swedish Alfa Laval has struck a deal to acquire weather intelligence and decision support services provider StormGeo.Alfa Lava, specializing in heat transfer, centrifugal separation, and fluid handling, said the acquisition would accelerate…
Royal Dutch Shell shareholders overwhelmingly backed the company's energy transition strategy on Tuesday, but increased support for a second climate resolution filed by an activist group pointed to growing pressure to tackle climate change.A…
Oil rose on Tuesday to hit $70 a barrel for the first time since March, as expectations of demand recovery following reopenings of the European and U.S. economies offset concern over spreading coronavirus cases in Asia.The British economy reopened on Monday…
Marine seismic data firms that supply data to offshore oil explorers are typically the first among oil industry contractors to bear the brunt of price drops, as their customers, the oil companies, slash expenses and wind down exploration activities while waiting for oil prices to rise again…
Oslo-listed offshore drilling contractor Shelf Drilling has secured a ten-year contract extension for the High Island IX jack-up rig.The contract for the 1983-built, 2012-upgraded jack-up drilling unit is in direct continuation of its current contract in Saudi Arabia…
Russia's largest oil producer Rosneft on Friday reported first-quarter net income of 149 billion roubles ($2 billion), buoyed by a recovery in oil prices, after a $2.1 billion loss a year earlier.Earnings at the group, which is around one-fifth owned by BP…
The new executive board of Brazil's Petrobras signaled on Thursday that it would largely follow plans set out by the previous administration, statements likely to ease investor concerns about the firm's tumultuous start to 2021.Chief Financial…
The U.S. government relaxed a long-standing maritime law protecting domestic shipping commerce to allow an undisclosed company to transport gasoline and diesel to ports in the East Coast after a cyberattack crippled the nation's largest fuel pipeline network…
U.S.-based offshore drilling contractor Diamond Offshore's new CEO Bernie Wolford will have a base salary of $700,000 plus bonuses, the company said Thursday.As previously reported, Diamond Offshore, which in April emerged from their chapter…
Australia has stunned the oil industry with a levy to cover the estimated $200 million cost of removing facilities and cleaning up the area around an oil field off northwest Australia after the small company that owned the project collapsed…
Marine seismic contactor PXGEO has signed a deal to provide 12 months of towed-streamer seismic acquisition services to the Norwegian seismic data firm TGS.TGS has committed to using the PXGEO 2 vessel or any other capable vessel which PXGEO…
Poland's biggest power group PGE and Denmark's Orsted have finalized a deal to jointly develop two offshore wind projects in the Baltic Sea, PGE said on Thursday.Under the terms of the deal, Orsted bought 50% in each of two PGE units developing two offshore projects totalling 2…
Russia's Gazprom on Thursday reported an 89% fall in 2020 net profit to 135.3 billion roubles ($1.8 billion), hurt by lower prices and sales and a huge rise in costs including a foreign exchange-related loss, but it expects a recovery in 2021…
BP's profit more than tripled to $2.6 billion in the first quarter thanks to stronger oil prices and bumper revenue from natural gas trading, paving the way for the energy company to start buying back its shares.The jump in profits from a year…
Global communications firm Viasat has completed the acquisition of the offshore communications solutions provider RigNet, after RigNet’sstockholders approved the transaction on April 21, 2021.The proposed merger was first announced in December 2020…
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