The oil price drop will hand tanker markets an unexpected bonus next year, boosting demand for oil storage at sea while distant eastern markets also bargain-hunt fuel and need shipping. Supertanker rates are already close to five-year highs of over $83…
3sun Group has appointed James Smith as general manager for its subsea division, RRC Controls Services. Smith joins 3sun Group after a 16 year career with Aker Subsea Limited, where he progressed from a service team workshop manager to global infrastructure and equipment manager…
InterAct, an Acteon company, has appointed Val Lerma, P.E., as engineering manager. Lerma will be based in InterAct’s Ventura, California, office and has more than 30 years of experience working with major and independent oil and gas operators…
Following a new Recommended Practice (RP) for subsea lifting, DNV GL has published an RP providing guidance on how to establish, implement and maintain an integrity management system (IMS). According to DNV GL, the aim is to help operators carry…
RN-Aero (Rosneft subsidiary) and KazMunayGas-Aero (KazMunayGas subsidiary) signed an agreement, substantially increasing cooperation between the Companies. The accord on the signing of the agreement was reached at the IATA International Aviation Forum in Dubai in the end of November…
Chairman of the Board Erik Henriksen has given notice of resignation from his position on the Board of Norwegian Energy Company ASA. The notice will be considered by the Board in due course in accordance with applicable regulations. The…
Incat Crowther’s first-of-type Catamaran Dive Support Vessel, Bhagwan Dryden, has set a new standard for catamaran dive support vessels since its launch and delivery earlier this year. Operational feedback has been positive for the vessel…
The secretary-general of the Organization of the Petroleum Exporting Countries (OPEC) said on Sunday the price of oil had fallen further than market fundamentals would have dictated.Speaking at an event in Dubai, Abdullah al-Badri added…
China is expected to sign 30 cooperative agreements worth $10 billion with Kazakhstan as Premier Li Keqiang begins his first official visit to the country, the official Xinhua news agency said on Sunday.Xinhua did not give details, but…
German wind turbine maker Nordex is mulling paying a dividend for the first time since listing on the stock exchange as part of efforts to create a long-term investor base, its chief financial officer told a German newspaper.'We will…
Czech power utility CEZ will wind down operations of its coal-burning plant in Bulgaria on Jan. 1, after it failed to get an exemption from European Union environmental rules, the company said on Saturday.CEZ had hoped Brussels may allow…
Russia will take counter measures if Washington imposes new sanctions on Moscow over the Ukraine crisis, Russia's Deputy Foreign Minister Sergei Ryabkov said on Saturday.The U.S. Congress has readied new sanctions on Russian weapons companies…
North Dakota's strict new standards for oil treatment, requiring every barrel of crude be filtered for dangerous types of natural gas, should add 10 cents to the cost of producing every barrel, regulators said on Friday.That's roughly $3…
Brazil's state-run oil company Petroleo Brasileiro SA said it delayed the release of its third-quarter financial results for a second time on Friday as a result of new developments in a widening corruption probe.Prosecutors on Thursday…
The Gazprom Management Committee addressed the Company's large-scale efforts aimed at implementing the Eastern Gas Program.It was noted that the gas industry growth in Russia's East was strategically important for the socioeconomic development of eastern regions…
