Ideol and BW Offshore’s new joint venture (JV) has celebrated its first day of trading on the Oslo stock exchange.
Awilco Drilling is moving to recoup millions of pounds over a cancelled contract for a new rig build with Keppel FELS as the dispute between the two firms deepens.
Dolphin Drilling has won an $83m (£62m) contract with Pemex in Mexico.
Prosafe has seen the clock run down on its agreement with lenders to extend its loan facilities, but insists it will operate as “business as usual”.
BW Energy expects to price shares in its IPO at 34.2-36.6 Norwegian krone ($3.74-4), valuing the company at $700-750 million.
Oil major BP and Det Norske have created a new oil and gas company to form the largest Norwegian independent oil and gas producer.
Aker Solutions today confirmed it had launched a five-month test programme for its carbon capture scheme in Norway.
EMAS Offshore has netted $33million in new contract wins to clients in Asia and West Africa. The company revealed the contracts as it also reported an improved full-year profit. The contracts form part of the Singapore and Oslo-listed firm’s strategy to focus its efforts in West Africa.
From Oslo to Doha, Riyadh to Moscow, governments that rode crude’s historic rise to unprecedented wealth are now being forced to start repatriating their rainy- day funds just to make ends meet. The halving of oil to less than $50 a barrel has the potential to alter one of the most powerful economic and political forces of the past half century: the rise of the petrostate. These countries led a surge in state investments in the U.S. and Europe that now totals about $7.3 trillion globally, according to the Sovereign Wealth Fund Institute. During the last boom, the oil countries flaunted their wealth abroad by buying stakes in iconic companies such as Barclays Plc as well as trophy assets including Manhattan hotels, European soccer clubs and London luxury homes, often in the face of opposition from the local public. Such swagger is fading.