Houston oilfield service company McDermott International posted another steep loss during the third quarter amid falling stock prices and cost overruns on multiple projects, including two liquefied natural gas plants near the Bayou City.
Paradigm Drilling Services (PDS) based at Thainstone, near Inverurie, has beefed up its presence in Mexico and the Middle East to cope with growing demand for its innovative offshore drilling equipment.
Four crew members have been kidnapped from a Greek oil tanker off Togo, following the seizing of nine sailors from a vessel carrying gypsum on November 2 off Benin.
At the Offshore Decommissioning Conference which Oil and Gas UK co-hosts with Decom North Sea, OGUK will launch its flagship Decommissioning Insight report and highlight new supplementary guidelines which capture how fast the sector’s knowledge of project scopes has grown in recent years.
Integrity management specialist Plant Integrity Management (PIM) is joining forces with EPCC, a high performance computing (HPC) research specialist based in Edinburgh, to investigate the benefits of cutting-edge data analysis and artificial intelligence to the integrity management sector of the oil and gas industry.
While low LNG spot prices have taken their toll, the Europe’s two major players in the sector, Total and Shell, performed strongly in the third quarter.
Subsea scanning specialist Viewport3 has announced its entry into the UK decommissioning market with a pair of new contracts worth a combined £100,000.
More than 350 onshore and offshore safety representatives from across the UK gathered at Aberdeen’s P&J Live for the recent Safety Rep 30 Conference, which was organised by Step Change in Safety, the UK’s member-led oil and gas safety body, to recognise the 30th anniversary of the SI971 regulations brought in following the Piper Alpha tragedy.
Africa Oil will go it alone in the acquisition of stakes in major fields offshore Nigeria after its partners, Delonex Energy and Vitol Investment Partnership, both withdrew.
Chevron Corp. reported a net income of $2.58 billion in the third quarter, down from $4.05 billion in the same quarter last year, and missed Wall Street expectations.
Tunisia has recently elected a new president, demonstrating the strength of its democratic institutions. The country’s hydrocarbons industry continues to struggle, though.