Poland's largest utility Polska Grupa Energetyczna SA (PGE) will begin talks with Denmark's Orsted about the sale of a 50% stake in two offshore wind farm (OWF) projects with combined capacity of 2.5 GW the company is developing in the Baltic Sea…
When the offshore downturn hit, no operating region was spared. Southeast Asia, once the offshore poster child, found itself falling from grace, and hard. What followed was series of liquidations, bankruptcies, court protection and government intervention…
A temporary tax incentive regime, low oilfield breakeven pricing and a chance to profit on modifications alone rather than via drill bit appear to be factors lifting prospects and getting banks behind a stalled Danish offshore revival.On Monday…
Halliburton Co on Monday promised more cost cuts after reporting a bigger-than-expected drop in quarterly revenue as the oilfield services looks to counter weak demand from North American shale producers, sending its shares up about 7%.The biggest hydraulic fracking services provider…
Singapore state investor Temasek Holdings is offering to buy control of conglomerate Keppel Corp in a S$4.1 billion ($3 billion) deal that could hasten a consolidation in the rig building sector which is battling the effects of low oil prices…
U.S. oilfield services company McDermott International Inc on Monday agreed with some of its lenders for additional funding of up to $1.7 billion, sending its shares up 25% in trading before the bell.Under the terms, the company said it would have immediate access to $650 million in financing…
EV Private Equity (EVPE) has appointed two new Advisory Board members, Bettina Bachmann and Carl Stjernfeldt, who bring decades of experience and venture capital knowledge to the firm.Bachmann spent 35 years at Shell, latterly as Vice President…
Schlumberger NV beat Wall Street estimates for profit on Friday, in the first quarter under Olivier Le Peuch, as higher international drilling activity boosted demand for its equipment and services and helped counter weakness in North America…
SBM Offshore completed the $1.14 billion project financing of Liza Unity floating production, storage and offloading unit (FPSO), the Netherlands-based company announced on Wednesday.The project financing was secured by a consortium of nine international banks…
By early last week, hedge funds had become the most bearish towards petroleum prices since the start of the year, as traders grew increasingly pessimistic about the global economy.Hedge funds and other money managers sold the equivalent of 95…
BP will take charges of $2 to $3 billion in the third quarter, the British energy firm said on Friday, as it looks to reach divestments worth $10 billion by the end of 2019, a year ahead of schedule.In a statement, London-based BP said it expects…
Norway's BW Offshore will wait for markets to stabilize before launching a planned initial public offering of its oil production arm, BW Energy, an executive said on Thursday.'We are generally ready to go to the market for a listing... however…
New currency controls enforced by the Bank of Central African States (BEAC) could ruin the oil and gas industry in the Gulf of Guinea and 'destroy' Equatorial Guinea's economy, the country's oil minister told Reuters on Wednesday.Equatorial Guinea…
Exxon Mobil Corp has appointed Bank of America Merrill Lynch to run the sale of its Malaysian oil and gas assets as the U.S. firm accelerates a vast disposal program, banking and industry sources said.The Malaysian assets, which include stakes in two large fields…
Order delays, cancellations and decision-gate debates have been hampering Norwegian oilfield owners grappling with a vastly weakened currency and projects — like the not-on-time and not-on-budget, Martin Linge — that have burst budgets.While several fields have been made scaled back (Bauge…
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