U.S. oil major Exxon Mobil Corp is suing the European Union in a bid to force it to scrap the bloc's new windfall tax on oil groups, arguing Brussels exceeded its legal authority by imposing the levy.The windfall profits tax is 'counter-productive'…
The holiday season is upon us, and as every year, this year too, Offshore Engineer features the top festive videos shared by offshore industry companies! Our personal favorites come from Oceaneering, Subsea 7, and Net Zero Technology Centre…
UK North Sea oil producer Serica Energy has agreed to buy Tailwind Energy Investments Ltd ('Tailwind') from Tailwind Energy Holdings LLP.The consideration for the acquisition comprises the issue of up to 111,048,124 new ordinary shares in Serica…
Former Elliot Management activist fund manager Franck Tuil on Thursday told Wood Group to buy back some of its stock to avoid becoming a takeover target, sending shares in the oil services provider up by the most in six weeks.It is the first public campaign for his $600 million multi-strategy fund…
The Italian energy industry services firm Saipem has decided to buy the 7th-generation Santorini drillship from Samsung Heavy Industries, citing rising dayrates and an optimistic forecast for offshore drilling rig demand.To remind, Saipem first chartered the drillship from Samsung in late 2021…
Eni is in preliminary talks to buy private-equity backed gas and oil producer Neptune Energy for around $5 billion -$6 billion, a source with knowledge of the matter said on Wednesday, adding that no official bid had been submitted.Neptune produces around 130…
German renewable energy firm RWE said Friday it had bought the Irish company Western Power Offshore Developments Ltd, which is in the early stages of developing the East Celtic wind farm project offshore Ireland.The East Celtic wind farm site…
Chinese oil and gas major CNOOC has sounded out potential buyers of its interests in U.S. oilfields, two sources said, stepping up its retreat from Western nations amid sanctions concerns and calls for domestic investment. Reuters reported in…
Turkey's Black Sea gas field is on track to go online next year as promised and work has sped up to connect it to the national infrastructure, President Tayyip Erdogan said on Saturday.Addressing a natural gas pipeline opening in the northern Kastamonu province…
UAE-based offshore drilling contractor ADNOC Drilling said Monday it had agreed to buy three 'brand new' premium offshore jack-up drilling rigs for $320 million, 'with further acquisitions in the pipeline.'The company said the rigs would meet…
Offshore drilling contractor Transocean said Thursday that it had together with Perestroika and funds managed by Lime Rock Management L.P created a joint venture, Liquila Ventures.Liquila Ventures agreed with Daewoo Shipbuilding & Marine Engineering Co…
Any changes to Britain's oil and gas windfall tax law that would remove incentives to invest in the North Sea would make field developments in the ageing basin 'uneconomical', the chairman of newly-listed Ithaca Energy said on Wednesday. Ithaca…
North Sea oil and gas producer Ithaca Energy's planned initial public offering (IPO) in London is set to be priced at the bottom of the range at 250 pence per share, a bookrunner on the deal said on Tuesday.Ithaca's market debut will be watched…
Singapore's Sembcorp Marine (Sembmarine) scrapped a deal to merge with Keppel Corp's offshore and marine unit and form new company, in favour of directly buying the unit for S$4.50 billion ($3.19 billion), the Temasek-backed oil rig builder said on Thursday…
CNOOC Ltd's third-quarter net profit soared by 89% from a year earlier to 36.9 billion yuan ($5.11 billion), driven by stronger oil and gas prices, the Chinese offshore oil and gas major said on Thursday. Third-quarter revenue rose 54% on the year to 89…
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