Every day, the world uses around one hundred million barrels of oil. The term “big oil” is used pejoratively to describe the industry’s lobbying power. But is big always better? This week, we look at both the biggest and the best, and the biggest and the worst of the oil industry. Big finds:...
Petrofac
COLUMN | Petrofac-ed, the Wood Group and Petroserv: restructurings and transformation [Offshore Accounts]
“Fix the balance sheet before you fix the business.” This was the sage advice we gave two weeks ago when we compared Tidewater to its moribund and indebted competitors. We noted that Hornbeck, Bourbon, and Edison Chouest still have some way to go in resolving their balance sheet problems. But if...
COLUMN | Saipem lives again, Mozambique restart is slated whilst more small island Caribbean corruption emerges [Offshore Accounts]
A year ago we were reporting on the crisis at Saipem. The company’s shares had crashed and the CEO was on his way out as the company racked up over a billion dollars of ..
COLUMN | About damn time: Tullow merges with Capricorn; Siem returns to profit; Shell approves Crux FLNG project in Australia as Prelude FLNG unions act [Offshore Accounts]
Curvy, body positive American singer Lizzo’s new single “About Damn Time” has stormed to number one on the Billboard Chart in the US, and into the top ten i ..
Petrofac, Cranfield University jointly investigating new zero-emission tech
Oilfield services provider Petrofac has teamed up with Cranfield University to investigate new technology that could minimise the impact of amine scrubbing technology. The post Petrofac, Cranfield…
COLUMN | The wind beneath my wings: Ørsted, Siemens Gamesa, Vestas, MingYang, Venterra, REM and Norwind [Offshore Accounts]
Profit warnings, disappointing revenues, and unfortunate surprises with both costs and margins. Sounds a lot like the offshore oil and gas services industry? Actually, I ..
COLUMN | Disappearing acts: Mozambique’s tuna money, The Metals Company’s alleged big investor, and LNG CO2 emissions [Offshore Accounts]
Last week we looked (here) the multiple cases of corruption and bribery that have stained the oil and gas industry’s reputation in recent years from Angola to Azerbaija ..
COLUMN | Pandora’s Box opens up more corruption in the oil industry [Offshore Accounts]
Another year, another wave of allegations of corruption in the oil and gas industry, as the leaks in the Pandora Papers come to light. A year ago we wrote about the first ..
Repsol Sinopec, TechnipFMC, Petrofac form partnership for UK North Sea oil and gas recovery
Repsol Sinopec Resources UK has formed a partnership with energy service providers TechnipFMC and Petrofac with the aim of maximising the recovery of oil and gas from the ..
Chinese yard launches JSD 6000 vessel
China’s Shanghai Zhenhua Heavy Industries Co (ZPMC) recently launched the Ulstein-designed JSD 6000 deepwater […] The post Chinese yard launches JSD 6000 vessel appeared first on Offshore…
https://www.offshore-energy.biz/chinese-yard-launches-jsd-6000-vessel/