Norway to Retain Statoil Stake
Norway's right wing government will retain its current holding in oil and gas firm Statoil , backing off a pre-election proposal to cut the stake to about 50 percent from the current two thirds of the shares. The government led by the Conservative Prime Minister Erna Solberg has pledged to reduce the state's role in the economy to give the private sector more breathing space and shrink what it considers a bloated public sector.
Brent Crude Holds Near US$115 on Back of Iraq Turmoil
Brent crude held near $115 a barrel on Friday, close to a nine-month high, and was headed for its second weekly gain on increased risks of disruption to supply from Iraq.
Australian Coal Port $10-bln Extension Shelved
A proposed $10 billion Australian coal port expansion, one of two port expansions planned near the Great Barrier Reef, was shelved by its sponsors on Friday who…
Damen to Convert the Massive 'Rowan Viking' Offshore Rig
Damen Shiprepair Vlissingen (DSV), part of Damen Shiprepair & Conversion, says it has been awarded a contract by a subsidiary of Rowan Companies plc to remodel the 'Rowan Viking'…
England Logistics Sends 70 Spartan ERV Units to Peru
The 70 Emergency Response Vehicle (ERV) units are to be shipped from the Port of Baltimore to Cuerpo General de Bomberos Voluntarios del Peru (the General Body of…
China Sending 4 Rigs To S China Sea Amid Tensions
China is sending four oil rigs into the South China Sea in a sign that Beijing its stepping up its exploration for oil and gas in the tense region, less than two…
Tugboat Not Up to the Job: TSB Charlene Hunt Findings
Citing a lack of preparation, bad weather and a mechanical breakdown as three important factors, the TSB today released its investigation report (M13N0001) into…
GofM 2014 Production Storm Shut-ins Likely Higher This Year
The risk of Gulf of Mexico 2014 production shut-ins by storms is considered to be higher than last year, according to a recent U.S. The National Oceanic and Atmospheric…
MH370: The Seventh Search Arc Delineated
The latest information and analysis confirms that MH370 will be found in close proximity to the arc set out in the map [shown here] and labelled as the 7th arc.
Getting Offshore Fast: New Helicopter Market Forecast
Douglas-Westwood (DW) forecasts $24 billion in expenditure on offshore helicopter services between 2014 and 2018, a 57% increase in comparison to the preceding five-year period.
Nordic American Tankers AGM Agrees Share Capital Increase
Nordic American Tankers (NAT) informs it held its Annual General Meeting (AGM) recently in Hamilton Bermuda. The reduction of the Company's share premium account by approximately $208.2 million…
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