Repair works on Hibiscus Anasuria FPSO due to finish in coming weeks
Work to repair constrained production issues at the Hibiscus Petroleum Anasuria FPSO are nearing completion.
financial results
Bristow ‘well-positioned’ for growth after trimming full-year losses
North Sea helicopter operator Bristow is looking to expand after drastically trimming its financial losses in the last year.
Asco boss says ‘loyal’ employees are helping to set the Aberdeen company on a path for growth
Asco has not “missed a beat” during the Covid-19 pandemic and continues to get kit to where it is needed amid the current woes affecting UK supply chains, the global logistics firm’s chief executive, Peter France, has said.
Fugro returns to growth for first time since pandemic began
Dutch geo-services firm Fugro has returned to growth for the first time since the outbreak of the pandemic last year.
Technip FMC improves full-year expectations following ‘strong’ quarter
TechnipFMC has increased its full-year expectations on the back of a strong start to 2021, as well as “continued improvement” in the broader market outlook.
Halliburton strategy ‘working well’ says CEO as company posts healthy H1 profits
Halliburton’s chief executive says the company’s strategy is “working well” after a relatively healthy financial start to the year.
Pertamina’s profit drops more than half to $1.05bn
Indonesian state-owned energy giant Pertamina posted a 58.4% drop in net profits last year after oil prices collapsed following a slump in energy demand due to the COVID pandemic.
Orsted hit by £350m cable issues at offshore wind farms in UK and Europe
Ørsted is having to fork out millions of pounds in order to address cable issues at some of its offshore wind developments.
PetroChina set to be world’s top spending driller
PetroChina, China’s biggest oil company, plans a 239 billion yuan ($37 billion) capital spend this year, making it the world’s top spending oil firm in 2021, beating the likes of Saudi Aramco and ExxonMobil.
China’s CNOOC readies first deep-water flows as reserves jump
CNOOC, China’s third largest oil company, is expected to start production at Lingshui 17-2, a large deep-water natural gas field in the South China Sea, during the first half of 2021.
Vattenfall comfortably in the black despite ‘extreme and unusual’ year
Vattenfall stayed comfortably in the black last year despite “an extreme and unusual” 12 months for “several reasons other than the pandemic”.
Ørsted more than doubles pre-tax profits in 2020
Ørsted enjoyed “great strategic progress” last year as it managed to strengthen its financial footing in the face of the Covid-19 pandemic.
Exxon posts first annual loss in 40 years on huge writedown
Exxon Mobil Corp. posted a $19.3-billion writedown of U.S. natural gas and other assets, capping the first annual loss for the Western world’s largest oil company in at least four decades.
Schlumberger reflects on ‘exceptional year’ of resilience after suffering losses of $11bn in 2020
Schlumberger’s chief executive has described 2020 as “an exceptional year of operational resilience” with the firm posting pre-tax losses of $11.2 billion (£8.3bn).
Peterson ‘well placed’ after carrying out resizing in response to Covid
International energy logistics provider Peterson has confirmed it carried out a “resizing” of the business earlier this year in order to make the transition to home working more straightforward.
Subsea 7 completes work on Arran project, issues update on restructuring
Subsea 7 has completed installation activities for Shell’s Arran gas development in the Central North Sea.
Crown Estate Scotland makes £12m revenue profit, surpassing target of £8m
Crown Estate Scotland (CES) made a £12 million revenue profit in its most recent financial year, surpassing its target of £8million to be returned for public spending, according to annual accounts published by the organisation.
Hunting cuts global workforce by 30% since start of year in response to ‘challenging environment’
International energy services provider Hunting has made further job losses as it continues to battle the dual impact of the Covid-19 pandemic and the oil price slump.
Australian-firm Oilex records pre-tax losses of $4.5m
Oilex has said it will continue to “review business opportunities” in high potential areas despite taking a financial hit due to the Covid-19 pandemic.
Simec Atlantis posts pre-tax losses of £6.1m for first half of 2020
Simec Atlantis has praised the performance of its tidal and engineering services division after halving its pre-tax losses in a year.
Stakes in Simec Atlantis plummet after firm announces plans to issue 50m new shares
Shares in Simec Atlantis Energy, which operates the MeyGen tidal array in the Pentland Firth, plummeted today.
Aker Solutions slips into the red in Q1 2020 as it faces ‘disruptive’ year ahead
Offshore engineering firm Aker Solutions slipped into the red in the first quarter of 2020 as the firm faces a "disruptive" year due to market uncertainty.
Subsea 7 posts profit loss and revenue dip amid Covid-19 and oil price crisis
Oilfield services firm Subsea 7 has reported a pre-tax loss and revenue drop for the first quarter of 2020.
Profits down 32% at Maersk, break-even oil price cut to below $40
Profits dived at Danish conglomerate Maersk in the third quarter despite strong showings from its oil and drilling businesses.
Profits plunge by 40% at Dales Marine Services
North-east company Dales Marine Services (DMS) and its parent have suffered sharp falls in their annual profits.