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Subsea 7 Axes Dividend, Sees Lower 2015 Earnings
Wednesday, March 04, 2015 Oilfield services firm Subsea 7 swings to a surprise fourth-quarter operating loss due to a decline in sales and profit margins in difficult market conditions.
Ferguson Partners OPS-OES to Tap Business in Thailand's Oil & Gas Sector
Wednesday, March 04, 2015 Ferguson Group appoints OPS Oilfield Equipment and Services as its business partner in Thailand.
Wintershall Completes Takeover of Vega Field in the North Sea
Wednesday, March 04, 2015 Germany's Wintershall completes the takeover from Statoil of the operatorship of the Vega subsea oil and gas field offshore Norway.
Cairn India Slashes 2015-16 Capex on Falling Crude
Wednesday, March 04, 2015 Cairn India cuts capital spending by about 60 percent as falling oil prices hurt profitability and make project expansions unviable.
Oil Producer Afren Defaults on 2016 Bonds
Wednesday, March 04, 2015 Africa-focused oil producer Afren defaults on its 2016 bonds after declining to make a $15-million interest payment.
Aqualis Offshore Wins Brazilian Contract
Wednesday, March 04, 2015 Aqualis Offshore wins a deal with Technip and Techint to carry out marine warranty surveys for the integration of the P-76 FPSO vessel in southern Brazil.
Russia's Lukoil May Quit Most West African Projects as No Large Discoveries
Wednesday, March 04, 2015 Russia's Lukoil may leave almost all of its projects in West Africa as it has made no large discoveries there, according to Interfax.
Valmec Secures Services Deal for APLNG Project's Talinga Gas Facility
Wednesday, March 04, 2015 Valmec secures a services contract for Australia Pacific LNG project's Talinga Gas Processing Facility in Queensland, Australia.
Anadarko Petroleum Cuts '15 Capital Expenditures By A Third
Tuesday, March 03, 2015 Anadarko says it would reduce spending by about 33% this year, as it responds to lower crude oil prices.
Nabors Swings To Loss In 4Q As Drilling Activity Slows
Tuesday, March 03, 2015 Nabors swung to a quarterly loss, hurt by a fall in drilling activity amid a slump in global crude prices.
Sources: In OMV poker, CEO Roiss Might Stay beyond June Exit Deadline
Tuesday, March 03, 2015 Gerhard Roiss, chief executive of Austrian energy group OMV, might stay on beyond a June deadline that cut his original contract short.
Emas Offshore Extends Charters with Perisai's Subsidiary for 3 OSVs
Tuesday, March 03, 2015 Perisai Petroleum's subsidiary secures a two year extension to the bareboat charters from Emas Offshore for three of its offshore support vessels.
Russia's Lukoil Says 2014 Net Income Down 39%, Misses Forecast
Tuesday, March 03, 2015 Russia's second-largest oil producer Lukoil reveals that its net income fell 39 percent last year due to weaker oil prices.
Petrobras to Sell $13.7B in Assets in 2015 and 2016
Monday, March 02, 2015 Petróleo Brasileiro SA plans to dispose of as much as $13.7 billion in assets this year and next as part of efforts by Brazil's largest state-controlled company to reduce debt and protect cash.
Petroceltic Directors Quit following EGM Vote
Monday, March 02, 2015 Petroceltic directors Don Wolcott and Joe Mach resign from the company's board after Chief Executive Brian O'Cathain survives vote to remove him.
Russia's Gazprom Neft Says 2014 Net Profit Down 32%
Monday, March 02, 2015 Gazprom Neft sees its net profit decline 32 percent to $2 billion due to a weaker rouble.
Newbuild Lewek Constellation Prepares for Noble Energy's GOM Assignment
Monday, March 02, 2015 Ezra's newbuild subsea construction vessel Lewek Constellation prepares to head for Gulf of Mexico assignment for Noble Energy.
Earlier Start Date for Former Woodside EVP Robert Cole as Beach Energy's MD
Monday, March 02, 2015 Former Woodside executive vice president Robert Cole will commence work as managing director of Australia's Beach Energy earlier than planned.
Keppel FELS on Track to Deliver its 100th Newbuild Jackup to PV Drilling
Monday, March 02, 2015 Keppel FELS is on track to deliver its 100th newbuild jackup PV Drilling VI to Vietnam's PV Drilling.
Indonesia to Host Indo Drilling Conference & Exhibition 2015 in March
Monday, March 02, 2015 PT Lintas Market announces that Indo Drilling oil and gas conference and exhibition 2015 will be held in Jakarta, Indonesia on March 19-20.
Technip Wins Lula Alto Contract
Monday, March 02, 2015 Technip wins contract to supply flexible pipelines and associated equipment for the Lula Alto field offshore Brazil.
Oil & Gas UK Appoints New Chief Executive
Friday, February 27, 2015 Deidre Michie is appointed as the new chief executive of trade body Oil & Gas UK after a 30-year career at Royal Dutch Shell.
Scots Subsea Technology Firm Calls in Administrators, 77 Jobs Lost
Friday, February 27, 2015 Accountancy firm KPMG is appointed as administrator of Specialist Subsea Services Limited amid cash flow difficulties at the company.
MOSB to Set Up Supply Base in Mawlamyine to Serve Myanmar's Oil, Gas Sector
Friday, February 27, 2015 Myanmar Offshore Supply Base is setting up a marine supply base in Mawlamyine in Mon state to support Myanmar's oil and gas industry.
Mott MacDonald Partners Khudairi Group for Oil, Gas Projects in Iraq
Friday, February 27, 2015 Mott MacDonald partners Khudairi Group for oil and gas projects in Iraq.
HHI's HLV HD-10000 Joins Fleet, Cost Savings of $22M a Year Seen
Friday, February 27, 2015 Hyundai Heavy Industries' heavy lift vessel Hyundai-10000 (HD-10000) will join its fleet in March, with the newbuild likely to provide cost savings of $21.9 million annually for the firm.
Russia's Novatek Says Weaker Rouble Slashes 2014 Profit
Friday, February 27, 2015 Novatek's 2014 net income more than halves due to a weaker rouble.
Driller Rowan Writes Down Assets By $438.4M In 4Q
Friday, February 27, 2015 Rowan writes down the value of 12 of its oldest jackups by $438.4M, joining rival Transocean Ltd in recording big asset impairment charges.
Russia's Rosneft May Get 300B Roubles from National Wealth Fund
Friday, February 27, 2015 Russian state oil firm Rosneft may get $5 billion from Russia's National Wealth Fund to finance five projects.
Russell: PetroChina, Sinopec Merger Makes Little Sense
Friday, February 27, 2015 The market chatter over forming a giant Chinese oil major through merging PetroChina and Sinopec has ramped up again recently, but the motivations for such a deal struggle to stand up to scrutiny.
Maersk Positions Self for 'New Oil Reality' as Profit Fall
Thursday, February 26, 2015 Maersk Drilling is bracing for the "new oil reality" facing the rig market by implementing cost-cutting and efficiency enhancement programs.
Statoil Awards Mariner Supply Contracts to Asco UK
Thursday, February 26, 2015 Norway's Statoil awards the supply base and warehousing contracts for the Mariner field development to Asco UK.
Pacific Radiance Posts 20% Rise in 2014 Net Attributable Profit to $68.3M
Thursday, February 26, 2015 Pacific Radiance records a 20 percent gain in net attributable profit to $68.3 million, boosted mainly by its offshore support services unit.
Icon Offshore Gets Petronas Carigali's LOA to Provide OSVs on Spot Charters
Thursday, February 26, 2015 Icon Offshore receives a letter of award from Petronas Carigali for the provision of offshore support vessels in Malaysia on a spot basis.
Bumi Armada's 2014 Net Profit Dips 49.3% to $60.6M as OSV, T&I Underperform
Thursday, February 26, 2015 Bumi Armada's 2014 net profit fell by half from a year ago to $60.6 million due to lower contributions from its offshore support vessel as well as transport and installation businesses.
Offshore Driller Ensco To Shut Down Rig, Slashes Dividend
Thursday, February 26, 2015 Ensco says it would shut down an ultra-deepwater rig as demand dwindles due to a slump in crude prices, a day after it slashed its quarterly dividend by 80%.
Repsol Defies Oil, Gas Sector Gloom with Upbeat Results
Thursday, February 26, 2015 Repsol posts a 27.1% increase in its adjusted net profit for 2014.
Manila Electric in Talks with Osaka Gas for $2B Natural Gas Project
Thursday, February 26, 2015 The Philippines' biggest power utility, Manila Electric Company, is in talks with Osaka Gas to build natural gas facilities worth about $2 billion, aiming to tie up long-term electricity supply, its chairman says.
Premier Oil Scraps Dividend as it Swings to 2014 Loss
Thursday, February 26, 2015 UK oil producer Premier Oil scraps dividend payments after slipping into the red on the back of a steep decline in oil prices.
Wood Group PSN Appoints New CEO
Wednesday, February 25, 2015 Energy services firm Wood Group PSN appoints Dave Stewart as its new CEO.
Gulf Keystone Says In Preliminary Talks Over Potential Sale
Wednesday, February 25, 2015 Gulf Keystone says it was in talks with a number of parties about a possible sale of the company or some asset transactions.
Chesapeake Profit Falls Short; Company To Slash Spending
Wednesday, February 25, 2015 Chesapeake says it will slash its 2015 spending and rig count in response to low crude oil prices that also pushed its 4Q profit below Wall Street expectations.
Gazprom Oil Arm Moves Trading From Austria Back To Russia
Wednesday, February 25, 2015 Gazprom's oil arm is shifting its trading operations from Austria back to Russia.
Petrofac FY Net Profit Falls, Order Book Grows
Wednesday, February 25, 2015 Oilfield services firm Petrofac reports a fall in 2014 net profit due to overruns on two major projects.
Odfjell Wins Drilling Engineering Contract for Johan Sverdrup
Wednesday, February 25, 2015 Norway's Odfjell Drilling wins the drilling engineering subcontract for the Johan Sverdrup field's drilling platform topside.
UK's Weir Warns of Significant Revenue Fall as Oil Industry Slows
Wednesday, February 25, 2015 Weir Group says uncertainty in the oil and gas industry will significant reduce its 2015 revenue.
MOL Swings to Loss, Even Though Downstream Performs Well
Tuesday, February 24, 2015 MOL swings to a quarterly loss partly due to one-off costs and a steep fall in crude prices.
Tenaris Joins Archer, Marathon in Cost Cuts, Layoffs
Tuesday, February 24, 2015 Oil companies Tenaris, Archer and Marathon Oil plan to cut company costs and reduce their workforce as a result of the oil market crisis.
Brazil Shipbuilder OSX Says CFO Steps Down, CEO To Take Role
Tuesday, February 24, 2015 OSX Brasil CFO Claudio Antônio da Silva Zuicker is stepping down, and CEOVladimir Kundert Ranevsky will add the role of CFO.
Technip Wins New Subsea Contract West of Shetland
Tuesday, February 24, 2015 France's Technip is awarded a new subsea contract for Total's Glenvit project, West of Shetland, UK.
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