Statoil to Cut Expenditure by $5 Billion
Statoil's fourth quarter 2013 net operating income was NOK 43.9 billion. In 2013, net operating income was NOK 155.5 billion. At today's Capital Markets Update, Statoil presents its plan for reduced capital expenditure by more than $5 billion (USD) from 2014-16 compared to previous plans. This will enable positive organic free cash flow after dividend from 2016. Statoil expects to deliver around 3 % average rebased organic production growth from 2013-16.
Rig Counts up from One Year Ago
Baker Hughes Incorporated (BHI) has announced that the international rig count for January 2014 was 1,325, down 10 from the 1,335 counted in December 2013, and up 46 from the 1…
Thrustmaster Adds Waterjets to Product Line
Thruster manufacturer Thrustmaster of Texas, Inc. expanded its product lineup to include waterjets after acquiring the technology of DOEN Pacific on Wednesday. DOEN, a designer and manufacturer of waterjet propulsion systems for the past 48 years, is one of five marine waterjet manufactures in the world building waterjets up to 4,000 kW for the commercial and military marine markets. To meet the demands of large scale…
Raising the Bar for Drilling Risers
The oil and gas industry innovates to exploit hydrocarbon resources in harsh environments or locations where access is difficult. In recent years, the focus of these…
Dynamic Oil Expands Middle East Operations
Three new appointments announced as recruitment drive to support expanding customer base continues. Dynamic Oil Trading has announced a series of appointments at the company’s recently launched Dubai office, amid continued expansion of the firm’s Middle East operation. Bunker traders Leonore Lagendijk and Mirko Antichi, as well as accountant Sheila Oller will join Dynamic Oil Trading’s Dubai operation with immediate effect.
ShipMoney Signs Marketing Agreement with SBNTEX
The Program Manager of the Visa ShipMoney Program announced that it has signed a multiyear Marketing and Business Development Agreement with SBNTEX, a wholly owned subsidiary of SBN Technologics. Under terms of the multiyear Agreement, SBNT will market and promote the ShipMoney Program to its customers and prospects throughout the world for the commercial maritime industry independently or as an integral component of SBNT’s payroll CTM module (PRC). S.B.
Hans Jakob Kruse has Died
Hapag-Lloyd mourns the loss of former Executive Board chairman Hans Jakob Kruse, who led the company from 1973 until 1993. On February 4, Hans Jakob Kruse died in Hamburg at the age of 84.
BSEE Hosts USCG Quarterly Meeting
Today, representatives of BSEE’s Gulf of Mexico Region hosted U.S. Coast Guard (USCG) officials in this year’s first quarterly meeting at the Gulf Region Office in New Orleans. Gulf of Mexico Region Director Lars Herbst and 8th District USCG Admiral Kevin Cook met with staff from both agencies to coordinate and discuss operational issues in the Gulf of Mexico. The quarterly meetings were implemented under a Memorandum of Understanding between BSEE and USCG effective November 27…
Korea Shipbuilder's 2013 Profit Falls 86%
According to the Yonhap News Agency Hyundai Heavy Industries Co., the world's largest shipbuilder informed Thursday that its net profit tumbled 86 percent last year from a year ago due to a fall in ship prices. Net income came to 146.3 billion won (US$136 million) last year compared with 1.03 trillion won a year ago, report Yonhap, citing a HHI regulatory filing. Hyundai Shipbuilding Division, claims to be the world's number one shipbuilder…
Diamond Offshore Drilling 2013 Profit Slips
In the company's financial report for the fourth quarter of 2103 Diamond Offshore Drilling announced that for the full year 2013 their net income of $549 million, or $3.95 per share, compared with net income of $720 million, or $5.18 per share, in 2012. Revenues for the full year 2013 were $2.920 billion, compared with $2.987 billion in 2012. In the fourth quarter of 2012, Diamond Offshore reported net income of $156 million…
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