ADES, a Middle East-focused offshore drilling company, is continuing with its April offshore rig shopping spree.After agreeing to buy four jack-up drilling rigs from Aban Offshore, and one from Maersk Drilling earlier this month, ADES has now…
Morgan Stanley raised its third-quarter price forecast for Brent by $10 per barrel to $130 citing a 'greater deficit' this year due to lower supply from Russia and Iran, which is likely to outweigh short-term demand headwinds.'The oil market is contending with negative GDP revisions…
Denmark's government on Tuesday said it aimed to significantly boost renewable energy supply and temporarily increase production of natural gas from its fields in the North Sea, in a move to rapidly become independent of Russian supplies.'We…
Chinese oil giant CNOOC Ltd said on Monday it will raise 28.08 billion yuan ($4.41 billion) in a share listing in Shanghai, after setting the price for what will be mainland China's 11th-biggest public stock offering.Fundraising will be expanded to 32…
Oil prices tumbled more than $6 on Monday as fears over weaker fuel demand in China grew after financial hub Shanghai lockdown efforts to curb a surge in COVID-19 infections.Brent crude LCOc1 futures slid as low as $113.72 a barrel and were trading down $5…
Tongues are wagging in the offshore sector, as one of the longest-running rumors in the market has finally come true. U.S. offshore vessel owner Tidewater Marine has acquired Singapore's Swire Pacific Offshore for USD 190 million, the company’s…
Harbour Energy, the British North Sea's biggest oil and gas producer, reported on Thursday free cash flow of $678 million for 2021 in its first full-year results after its merger with Premier Oil, up from a pro-forma $562 million in 2020.It forecast that…
The Hongkong based Unmanned Surface Vessel manufacturer OceanAlpha is showcasing its innovative USV portfolio for inland hydrography survey, offshore operation and maintenance (O&M) and smart rescue solutions at the Oceanology International (OI2022) held from March 15 to 17 in London Excel…
TotalEnergies swung back to profit in 2021 thanks to higher hydrocarbons prices, it said on Thursday, with net income of $16 billion and adjusted net income of $18.1 billion, the highest since record years in 2007 and 2008.The French oil major…
Saudi Aramco has bought a 7.4% stake in Norwegian industrial software group Cognite from oil firm Aker BP, Cognite said on Wednesday.The price for the stake was 'around 1 billion Norwegian crowns,' or about $113 million, an Aker BP spokesperson told Reuters…
Shares of U.S. oil major Chevron Corp on Wednesday hit an all-time high amid a strong stock market rally and ahead of the release of Chevron's fourth-quarter financial results Friday.Shares of most major producers rose after oil touched $90 a barrel for the first time in seven years on Wednesday…
Germany could find itself in a no-win situation if Russia invades Ukraine, pitting Berlin's main gas supplier against its most important security allies.Chancellor Olaf Scholz would face pressure from the United States and other Western allies…
Germany signaled on Tuesday that it could halt the Nord Stream 2 pipeline from Russia if Moscow invades Ukraine, and Western nations rallied behind Kyiv over a Russian troop buildup that has stoked fears of war.Stepping up diplomacy after talks with Russia ended in stalemate last week…
Norway is delivering natural gas to Europe at maximum capacity, but this cannot replace any missing supplies from Russia, Norwegian Prime Minister Jonas Gahr Stoere said on Wednesday.Norwegian companies have optimized their delivery potential…
Norway's trade surplus rose to a new record in December, boosted by soaring prices for its natural gas exports, national statistics agency data showed on Monday.The December surplus hit 106 billion Norwegian crowns ($12.09 billion), beating a previous record of 84…
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