Norwegian rig and shipping magnate John Fredriksen is pooling harsh environment rig assets and putting his money into new venture, Northern Ocean Ltd., now a business of Seadrill subsidiary, Northern Drilling.Fredriksen’s investment vehicle…
Norway's $1 trillion sovereign wealth fund has removed Brazilian oil firm Petrobras from a watchlist of firms that could be dropped as investments due to ethical concerns, the central bank said on Tuesday.Petrobras was put under observation in 2016 over corruption risks…
The years-old trend that has seen offshore suppliers vie for work in wind by leveraging their offshore oil and gas credentials and development finance is being countered these days by wind players in search of oil and gas jobs, judging by some recent fleet owner moves…
Canadian oil and gas producer Husky Energy Inc said on Monday it would lower its capital spending by C$500 million over the next two years when compared to its 2019 outlook in a bid to increase free cash flow.Oil producers have been under pressure…
Saudi Aramco has received bids for its shares totalling $44.3 billion so far, lead manager Samba Capital said on Friday, putting its initial public offering on track to be over-subscribed.The state-owned oil giant plans to sell 1.5% of the company's shares for as much as 96 billion riyals ($25…
Denmark-based energy giant successfully issued green hybrid capital securities for €600m ($660m) to refinance existing securities issued in 2015.The latest issue will have a maturity in 3019 and first call option after eight years, the Danish energy company said…
Russian Energy Minister Alexander Novak said on Wednesday the forthcoming meeting of OPEC and other large oil producers may discuss adjusting oil output quotas at a next-month meeting, local news agencies reported.'We don't rule out discussing various issues…
Russia's second-largest oil producer Lukoil said on Tuesday its third-quarter net income rose 5% quarter on quarter to 190.4 billion roubles ($3 billion) helped by a lower effective income tax rate.Its sales fell 8.1% from the second quarter to 1…
Malaysia's state energy firm Petroliam Nasional Bhd said on Tuesday its third-quarter profit nearly halved due to lower demand and impairment charges, and warned of further risks to demand.Profit for the July-September period at Petronas, as the company is better known…
Bids for North Sea oil and gas firm Siccar Point, backed by private equity groups Blackstone and Blue Water Energy, came in at between $1.2 billion and just under $2 billion, according to three industry sources.Bidders in the first round, which ended on Nov…
Neptune Energy said on Friday there was only a 'remote' possibility it would launch an initial public offering next year, as the group was focused for now on exploration and bringing projects to production.Chief Executive Jim House also said…
With the oil price tracking a course that’s keeping nearly every oilfield viable, operators in the second half of 2019 are drilling a bevy of exploration and production wells that’s just lifting rig futures.Paradoxically, oil companies drill…
Malaysia's state of Sarawak filed a writ summons and statement of claim against national energy firm Petroliam Nasional Bhd on Thursday to recover taxes owed, according to media reports.National news agency Bernama reported that the company…
Total criticized on Thursday the European Investment Bank's decision to stop financing all fossil fuel projects including gas, saying companies that might switch to gas-fired power plants from heavy-polluting coal could now reconsider.'I think…
BW Offshore, a provider of floating production services to the oil and gas industry, has successfully completed a NOK 900 million senior unsecured bond issue with a coupon of three months NIBOR + 4.50% and maturity in December 2023.The Oslo…
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