Offshore Oil News

Oil tanker, frigate in accident off Norway, seven injured

OSLO (Reuters) - An oil tanker and a Norwegian navy frigate were involved in an accident near the coast of western Norway on Thursday, injuring seven people, police said in a statement.The KNM Helge Ingstad frigate was taking on water and evacuating its crew of 137.

Egyptian-French naval forces start maritime training in Mediterranean

(MENAFN - Daily News Egypt) Egyptian and French naval forces started a maritime training exercise in the northern Mediterranean on Wednesday. The training activities will provide ways to deal with the challenges facing maritime security, combating terrorism, protecting a vital sea target such as gas and oil ships. It will further include the implementation of sailing formations…

Shipbuilding Industry Market – Upcoming Investments Predictable to improve the Demand by 202 – DVI R

Shipbuilding Industry Market report 2013-2023 provides comprehensive data of Manufacturers, Regions, Applications and others.

Singapore Bourse Draws Firm Lead For Thursday

The Singapore stock market bounced higher again on Wednesday, one session after it had ended the three-day winning streak in which it had advanced almost 150 points or 4.8 percent. The Straits Times Index now rests just above the 3,065-point plateau and it's called to open higher again on Thursday.The global forecast is positive following the U.S. midterm elections. The European and U.S.

Critical Contrast: Subsea 7 (SUBCY) and Basic Energy Services (BAS)

Basic Energy Services (NYSE:BAS) and Subsea 7 (OTCMKTS:SUBCY) are both oils/energy companies, but which is the better business? We will compare the two companies based on the strength of their valuation, dividends, analyst recommendations, risk, earnings, profitability and institutional ownership. Analyst RatingsThis is a breakdown of current ratings for Basic Energy Services and Subsea 7…

Nordic American Tankers Limited (NYSE: NAT) - 3Q2018 Results are out November 12, 2018. Tanker mark

{{following ? November 07, 2018 6:16am  CommentsHamilton, Bermuda, November 7, 2018Dear Shareholders,In our message of November 1, we referred to the fact that rates for our suezmax tankers were up strongly; 4 to 5 times higher than earlier this year. At the end of October, the average suezmax tanker index (Fearnleys) was at $28,700 per day.

Palestinians say Egyptian fire kills Gaza fisherman; Cairo denies it

GAZA (Reuters) - Egyptian naval forces fired on a Palestinian fishing boat and killed a fisherman on Wednesday, Gaza's interior ministry said, but an Egyptian military source denied the report.Citing security concerns, Egypt and Israel enforce a naval blockade on the Palestinian coastal enclave, which is controlled by the Hamas Islamist group.

Nexans wired into Borssele 1&2 at 66kV - reNews

Nexans has secured a contract from Orsted to supply and install array cables for the 752MW Borssele 1&2 offshore wind farm complex off the coast of the Netherlands.The multimillion-euro deal, first reported in the subscriber-only newsletter reNEWS, covers three-phase 66kV copper cables with two cross-sections to connect the 94 turbines together and to the offshore substations.

Mcdermott International Inc (MDR) President and CEO David Dickson Bought $396,408 of Shares

- By insiderPresident and CEO of Mcdermott International Inc (MDR) David Dickson bought 39,800 shares of MDR on 11/06/2018 at an average price of $9.96 a share. The total cost of this purchase was $396,408.McDermott International Inc is an engineering, procurement, construction and installation company engaged in designing and executing complex offshore oil and gas projects.

Cummins Inc. (CMI) Stake Decreased by Los Angeles Capital Management & Equity Research Inc.

Los Angeles Capital Management & Equity Research Inc. reduced its position in Cummins Inc. (NYSE:CMI) by 16.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 303,342 shares of the company’s stock after selling 60,289 shares during the period. Los Angeles Capital Management & Equity Research Inc.

GC Rieber Bags 4-month Charter for Polar Queen

Norwegian shipping company GC Rieber Shipping has entered into a time charter agreement with a European offshore client for the CSV  Polar Queen for a fixed period of four months with options to extend by up to one month.A press note from the offshore shipping firm said that the project is the same as Polar Queen was engaged on during the summer of 2018.

Iran oil minister calls on OPEC to scrap monitoring committees: Shana

FILE PHOTO: Iran's Oil Minister Bijan Zanganeh arrives for an OPEC meeting in Vienna, Austria, June 22, 2018. REUTERS/Heinz-Peter Bader/File PhotoLONDON (Reuters) - Iran’s oil minister wrote to OPEC’s secretary general calling for two committees tasked with monitoring a deal between OPEC and other countries led by Russia to be scrapped, Iran’s Shana news agency said on Tuesday.

Greens want Labour to toughen gas ban

GovernmentA supplementary order paper from Green MP Gareth Hughes threatens to rip the scab off the Governments contentious ban on new offshore oil and gas exploration. The Government announced an end to the issuing of exploration permits for offshore oil and gas exploration in April. The ban did not affect existing permit holders, who were free to continue extracting oil and gas.

Gulf Island Fabrication, Inc. Announces Corporate Governance Enhancements

HOUSTON, Nov. 05, 2018 (GLOBE NEWSWIRE) -- Gulf Island Fabrication, Inc. ("Gulf Island or the "Company") (NASDAQ:GIFI), announced today that its Board of Directors unanimously approved an amendment and restatement of its by-laws that, among other things, provides a majority voting standard in uncontested elections. These…

Cerberus acquires SubCom - PE Hub

Cerberus Capital Management has acquired Eatontown, New Jersey-based TE Connectivity‘s Subsea Communications business, which has rebranded as SubCom, a provider of fiber optic cable systems. No financial terms were disclosed. In addition to the transaction, David Coughland has been named CEO of SubCom.PRESS RELEASENEW YORK, Nov. 5, 2018 /PRNewswire/ — Cerberus Capital Management, L.P.

Oil & Gas Subsea Umbilicals Market 2018-2023 with Strategic Trends Growth, Revenue

The research report on the Global Oil & Gas Subsea Umbilicals Market delivers extensive analysis of market trends and shares. The report analyzes the current market size, recent market trends, key segments and future prospects of the global Oil & Gas Subsea Umbilicals market (2018-2025). The market shares of segments (players…

N44bn inaccessible vessel financing fund angers shipowners – Punch Newspapers

Local shipping industry operators have expressed anger over their inability to access the Cabotage Vessel Financing Fund, which is believed to have accumulated N44.64bn ($124) deducted from their annual earnings since 2004, ANNA OKON writes Operators in the local shipping industry have expressed anger over their inability…

Heavy gas storage volumes choking off N.Asia LNG demand

Rising gas storage levels in North Asia are denting demand for liquefied natural gas (LNG) ahead of a warmer-than-expected winter, driving at least one utility in Japan to resell winter cargoes it does not need, regional trade sources told Reuters.Storage levels in Japan and South Korea are estimated to be at their highest since at least 2015, according to data from Refinitiv Eikon.

Galp Energia: A Vertically Integrated O&G Producer With A 3.7% Yield And 142% Coverage Ratio - Galp

IntroductionMost energy focused investors will have heard of Repsol (OTCQX:REPYF) (OTCQX:REPYY) before, but very few know theres a second large vertically integrated oil and gas company on the Iberian peninsula. Galp Energia (OTC:GLPEF) (OTCPK:GLPEY) is a Portugal-based company specialized in the production of oil and gas, as well as refining and distributing the oil-related end products.
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'It was pure chaos. Screams. Cries. Panic.'

Chaos and panic took over a Carnival cruise after the ship listed badly to one side shortly after leaving port Sunday evening.The Carnival Sunshine was only a few hours offshore from Port Canaveral on the eastern coast of Florida when an issue with the fin stabilizer caused the dramatic tilt.Fin stabilizers are found on…