People And Companies News


Seadrill Emerges from Chapter 11 Bankruptcy

Feb 23, 2022

Offshore drillship contractor Seadrill on Wednesday announced its emergence from Chapter 11 bankruptcy after successfully completing its reorganization.The Plan was confirmed by the U.S. Bankruptcy Court for the Southern District of Texas on October 26, 2021. 'The restructuring significantly delevered the company’s balance sheet by equitizing approximately $4.9 billion of secured bank debt previously held across twelve silos…

Chevron 1Q Income Nearly Quadruples as Oil Prices Surge

Apr 29, 2022

Chevron Corp's first-quarter profit nearly quadrupled from the same period a year ago, easily surpassing Wall Street's forecasts as oil and gas prices surged following Russia's invasion of Ukraine.The second-largest U.S. oil producer on Friday posted adjusted earnings of $6…

BASF Concedes Wintershall Dea IPO is Not an Option Now

Apr 29, 2022

BASF said it has given up efforts to separately list its oil and gas business Wintershall Dea via an initial public offering (IPO) for now due to the joint-venture's exposure in Russia.'We want to list the company on the stock exchange. Wintershall…

Vår Energi Increases Dividend as Q1 Profit Soars

Apr 27, 2022

Norway's Vår Energi raised its annual dividend and posted a sharp rise in first-quarter profit on Wednesday, aided by a surge in oil and gas prices following Russia's invasion of Ukraine.Vår Energi, majority-owned by Italy's Eni, reported a pretax profit of $1…

Oslo Stock Exchange to Delist Seadrill Limited Shares

Apr 25, 2022

The Oslo Stock Exchange on Monday passed a resolution to delist the offshore drilling contractor Seadrill Limited.'The Oslo Stock Exchange considers that the shares of Seadrill Limited are no longer suitable for listing on the Oslo Stock Exchange…

Eidesvik Offshore CFO Resigns to Join Waterise

Apr 11, 2022

Tore Byberg has tendered his resignation from his position of EVP & CFO of the Norwegian offshore vessel owner Eidesvik Offshore.Byberg will leave Eidesvik and become CFO of Waterise AS, a company offering sustainable subsea water desalination globally…

Odfjell Oceanwind Names Knudsen CFO

Apr 01, 2022

Odfjell Oceanwind, a Norwegian company that plans to make floating wind turbines to power offshore oil and gas drilling rigs and platforms, has appointed Eirik Knudsen as its Chief Financial Officer.'We are happy to welcome Eirik Knudsen as Chief Finance Officer to the Odfjell Oceanwind team…

EnQuest Posts Record $397M Cashflow for 2021

Mar 24, 2022

British North Sea-focused oil producer EnQuest on Thursday reported its highest free cashflow in 2021 of $397 million, almost double the previous year, thanks to higher oil prices.EnQuest, with a market capitalization of $730 million, reduced its net debt by the end of last month to $1…

Petrofac Warns of Lower Orders as Annual Profit Halves

Mar 23, 2022

Oilfield services provider Petrofac on Wednesday warned of fewer near-term deals but expects higher energy prices to boost contracts later in 2022 as annual profit halved on lower orders and higher costs.The company put behind a major overhang…

Putin Ally Timchenko Resigns from Novatek Board

Mar 21, 2022

Gennady Timchenko, a long-time ally of Russian President Vladimir Putin, resigned from the board at gas producer Novatek on Monday after he was targeted by sanctions over Russia's military campaign in Ukraine.Novatek, Russia's largest private natural gas producer…

Massachusetts Maritime Academy Teams Up with Union Apprentice Program for Offshore Wind

Mar 16, 2022

With the passing of the historic infrastructure bill in August 2021, the backbone of the United States will undergo a transformation over the next several years, and for this, workers will be needed in all facets of the construction industry…

Noble Corporation and Maersk Drilling Select Board Members of Merged Company

Mar 10, 2022

Offshore drilling companies Noble Corporation and Maersk Drilling, which are set to merge, on Wednesday announced Board of Directors for the combined company, to be effective upon the closing of the business combination announced on November 10…

Subsea 7 Rises on Improved Outlook, Cash Dividend

Mar 03, 2022

Engineering firm, a major supplier to the oil industry, has decided to pay a regular dividend and buy back stock as it swung to a full-year profit in 2021 and its outlook improved, the company said on Thursday.Subsea 7 said it 'firmly' believed…

Hallman to Become CEO of Freja Offshore

Feb 18, 2022

Magnus Hallman was recently appointed CEO of Freja Offshore AB, the 50/50 joint venture (JV) established in 2021 by Hexicon and Aker Offshore Wind.Hallman joins Freja Offshore from Svenska Kraftnät Gasturbiner AB where he held the position of CEO…

Repsol Beats Forecasts Thanks to High Oil and Gas Prices

Feb 17, 2022

High oil and gas prices helped Spain's Repsol REP.MC to post earnings above market expectations on Thursday, giving it more financial firepower to spend on low-carbon operations investors are increasingly demanding of energy companies.Benchmark…

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