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…
French oil services group CGG posted a 71% plunge in first-quarter core profit on Wednesday, reflecting a year of drastic spending cuts by the oil industry in the pandemic and sending its shares sharply lower.In a call with analysts, CEO Sophie Zurquiyah said the quarter had been slow as expected…
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…
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…
Offshore drilling contractor Diamond Offshore Drilling, said Monday that Bernie G. Wolford Jr. has been named the company's President and Chief Executive Officer and will also serve on the Board of Directors. Wolford succeeds Marc Edwards, who retired from the Company as Chairman…
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…
French oil major Total has started oil production from the Zinia Phase 2 project offshore Angola, connected to the existing Pazflor FPSO.The Zinia Phase 2 project includes the drilling of nine wells and is expected to reach a production of 40…
Maritime survival equipment specialist Survitec has completed the acquisition of Hansen Protection, a provider of personal protective equipment. Ron Krisanda, Executive Chairman at Survitec, commented: 'The addition of Hansen Protection, and its leading portfolio in personal protective equipment…
Renewable energy will account for a far larger share of global supply in 2050 than major oil companies or the International Energy Agency (IEA) expect, Oslo-based consultancy Rystad Energy said on Thursday.Its updated models show renewables meeting 74% of total energy demand by 2050…
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…
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…
North Sea-focused oil and gas company NEO Energy, backed by HitecVision, on Wednesday announced its plan to cut carbon emissions from its operations. The company, which in February agreed to buy ExxonMobil's Northern North Sea fields off the UK in a transaction valued at more than $1 billion…
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