“We regret that we could not complete the merger as envisaged in July 2022, as that would have created the by far largest publicly listed tanker company,” said Frontline CEO Lars Barstad.
Rigs & Vessels
Transocean (NYSE: RIG) has unveiled a pair of UK North Sea contract wins as part of a clutch of global awards worth $488m.
The US Coast Guard suspended its search for four passengers on a downed helicopter on December 29.
Transocean ordered the two drillships in February 2014, agreeing to pay $540 million for each of the vessels. Sembcorp said it would deliver the rigs in 2017 and 2018.
Drillships are driving the recovery in the deepwater market, according to a leading rig analyst, with contractors moving to procure new or stranded units as day rates continue to rise.
ExxonMobil has scored another two finds offshore Guyana its incredibly prolific Stabroek block.
Sembcorp Marine (SGX: S51) has landed a $3 billion contract for a newbuild FPSO for Petrobras.
It could soon cost half a million dollars a day to hire an offshore rig, according to executives in the industry, in a stunning turnaround for day rates since Covid.
A new group is launching today with a focus on managing methane emissions in shipping, using LNG as a fuel.
APA Corp has discovered oil offshore Suriname on Block 53, while abandoning another well on Block 58.
ExxonMobil has made another two discoveries in the Stabroek block, bringing the total number of its finds offshore Guyana to more than 25.
Frontline has struck a deal with Euronav for a potential merger, in an all share offer that would value each Euronav share at around $12.09.
New Fortress Energy (NFE) has set out a plan to sell down its stakes in 11 LNG vessels and two deals in Mexico.
Shell is buying a 51% stake in the North Platte development, in the US Gulf of Mexico, from Equinor, the Norwegian company has revealed.
The offshore drilling rig market is “much tighter” than previously thought, according to new analysis, with some segments “nearly sold-out”.
Westwood Global Energy Group expects rig demand to increase around the world but with no rapid increase in dayrates.
The Canadian government has approved Equinor’s Bay du Nord project, albeit with the strongest ever greenhouse gas conditions.
Drilling rig operator Valaris has secured a series of new contracts and contract extensions worth some $181 million in backlog.
SBM Offshore has won work on the One Guyana vessel for ExxonMobil’s Yellowtail project, offshore Guyana.
ExxonMobil has taken its fourth final investment decision (FID) in Guyana on the Yellowtail project.
Noble Corp. and Maersk Drilling have set out the executive team that will lead the new company, confirming Noble’s Robert Eifler as president and CEO.
A crew of Trinidadian fisherman were rescued by Siem Offshore’s subsea vessel Siem Spearfish early on Sunday morning.
A Valaris drillship has broken free of its moorings and collided with a carrier vessel while docked in Mississippi.
The US Coast Guard came to the aid of nine oil workers trapped on a burning jack-up rig in Texas yesterday.