Finance

House Subcommittee Hearing Highlights “Dismal State” of U.S. Icebreaking Capability

At the July 23, 2014, hearing of the House Subcommittee on Coast Guard and Maritime Transportation on “Implementing U.S. Policy in the Arctic” the committee chairman, Rep.

Energy Future Seeks Longer Bankruptcy

Energy Future Holdings, the largest power company in Texas, asked a judge to extend the period in which it controls its Chapter 11 bankruptcy and said it is scrapping

Gamesa H1 net profit nearly doubles

Spanish wind turbine maker Gamesa posted an 88 percent rise in net profit to 42 million euros ($57 million) in the first half thanks to a deep restructuring carried

PSIL Recruits Global Sales Director, Expands In Middle East

Process Systems International Limited (PSIL)  is expanding its global network across Qatar, Kuwait, Oman and the UAE.   PSIL designs and commissions horizontal,

EU's Planned Sanctions Against Russia to Hit South Stream, Yamal LNG

South Stream pipeline, Yamal LNG rely on western technology EU proposes to target sensitive technologies in energy sector Pipelines, wells, drilling

Thome Is the First to Sign up to IMPA Act

Leading integrated ship management service provider Thome Ship Management has become the first ship management company to join IMPA ACT, the responsible supply chain management initiative,

YPF Says Neuquen Strike Slashes Energy Output

Argentina's state oil producer YPF said on Thursday a labor strike in the province of Neuquen will cut output by 80,000 barrels of crude oil and 3 million cubic meters of natural gas.

Vale Posts Record Q2 Iron Ore Production

Brazilian miner Vale said on Thursday its iron ore output in the second quarter was a record high for the period, up 12.6 percent from a year earlier, as it ramped

Legislation Grants Funding for EU's EMSA

EU Council Adopts Regulation on EMSA Funding The European Union Council adopted a regulation yesterday to finance the actions of the European Maritime Safety

Southern Hopes to Build More US Nuclear Reactors

Southern Co, one of the biggest U.S. power companies, said it hopes to announce plans by the end of the year to build more nuclear power reactors, a spokesman said late Wednesday.

Wärtsilä to Divest its Shares in Two-stroke JV

Wärtsilä to divest its shares in QMD two-stroke joint venture Wärtsilä announced that it will divest its shares in the Qingdao Qiyao Wärtsilä MHI Linshan Marine Diesel Co.

Repsol Profit Tops Forecasts on Surprise Refining Strength

Adjusted Q2 net profit 390 mln eur versus 296 mln forecast; Refining margins up 19.2 percent, output down 5.8 pct; Shares up 1.8 percent, in line with market Cash-rich

SFL Announces Sale of Three Older VLCCs

Ship Finance International Limited (SFL) announced that it has agreed to sell the 1999 built VLCCs Front Opalia, Front Comanche and Front Commerce to an unrelated third party.

Royal Caribbean Profit Jumps on Higher European Demand

Royal Caribbean Cruises Ltd's quarterly profit beat analysts' average estimate as demand for its European and Chinese cruises increased and passengers spent more on board,

Slovakia: Work on Ukraine Gas Link on Schedule

Construction work on a pipeline that will allow sending gas from western Europe to Ukraine is on schedule and the contracted capacity will be available from September 1,

China's coal industry says times are hard, outlook worse

More than 70 percent of China's coal firms are making losses, the head of the coal industry association said on Thursday, with prices eroded by falling demand growth,

Vitol, Carlyle's Varo Energy buy Total Swiss Diesel

Vitol and the Carlyle Group's joint-venture Varo Energy has bought French oil company Total's Swiss diesel and heating oil storage and distribution businesses, the company said on Thursday.

Husky Energy Profit Rises on Increased Production

Husky Energy Inc, Canada's No.3 integrated oil company, reported a 4 percent increase in second-quarter earnings, helped by an 8 percent rise in production. Net

Higher Rig Contracts Boost Precision Drilling's Revenue

Raises 2014 capex by 12 pct to C$934 mln; Average rig count in Canada up by 13 to 53. Average rig count in U.S. up by 13 to 93. Precision Drilling Corp , Canada's

Noble Energy's Net Income Almost Halved

Oil and natural gas producer Noble Energy Inc's net income nearly halved due to a $187 million loss on commodity derivatives. Net income fell to $192 million,

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