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-Diamond Offshore Drilling Inc., the rig contractor controlled by Loews Corp., filed for bankruptcy amid an unprecedented crash in crude prices that’s wrecking demand for oil exploration at sea. The company listed $5.8 billion of assets and $2.6 billion of debt in a Chapter 11 petition filed in Houston, citing year-end 2019 data. It has... Continue Reading →
Apr 23, 2020 The National Health Surveillance Agency - ANVISA confirmed contamination by Covid-19 on four vessels supporting the services of offshore oil platforms. The vessels are anchored in Guanabara Bay after confirmation of contamination by Covid-19. In addition to the Subsea 7 Brasil support vessel, with three confirmed cases, Fulmar support vessels are anchored,... Continue Reading →
Italian oilfield contractor Saipem sank into the red in the first quarter of the year dragged down by impairments in the Offshore Drilling division. According to its report on Thursday, Saipem’s revenues in the first quarter of 2020 totalled €2.17 billion ($2.34Bn), a 0.7 per cent increase compared to €2.16 billion ($2.22Bn) in the first... Continue Reading →
Danish offshore drilling contractor Maersk Drilling is set to mothball several offshore drilling rigs, and as a consequence, reduce the number of offshore workers, citing low oil prices and the impact of COVID-19 pandemic as the reason. "The COVID-19 pandemic and the lower oil price environment are impacting offshore drilling activity. Some tenders and projects... Continue Reading →
Apr 23, 2020 BUREAU VERITAS LAUNCHES REMOTE INSPECTION SERVICE FOR THE MARITIME AND OFFSHORE SECTOR IN BRAZIL Group is bringing its remote inspection service for verification and testing of equipment manufacturers for ships and platforms to the Brazilian market. The novelty would only arrive in the country in the future, but the company accelerated the... Continue Reading →
With an increasing focus on improving efficiencies throughout the global energy sector, the installation of subsea structures on the seabed can pose complex and costly challenges if handled incorrectly. It is essential that installation work is completed thoroughly and quickly, due not only to the harsh conditions which equipment can face, but also to the... Continue Reading →
Italian oil services group Saipem said on Thursday it could not offer new guidance for the year because of the highly unstable environment created by the COVID-19 pandemic and falling oil prices. Last week the group pulled its 2020 outlook saying the pandemic might trigger a sharp fall in demand and a delay in projects.... Continue Reading →
Houston-based offshore services and robotics specialist Helix Energy Solutions has reported net loss of $11.9 million, or 9 cents per diluted share, for the first quarter of 2020 compared to $1.3 million profit for the same period in 2019. Sequentially, profit fell from $8.1 million of 5 cents per diluted share. Continue reading
Oil services company TechnipFMC said on Wednesday it would slash the salaries of executives and retainers paid to company directors by 30%, after cutting its dividend by 75% in search of savings to cushion the impact of the novel coronavirus outbreak. The Franco-American firm, whose clients include major companies in the oil and gas sector,... Continue Reading →
Norwegian offshore vessel operator DOF has warned that several of its vessels might be laid up after the end of their current contracts, citing lack of new work opportunities amid the oil price rout and COVID-19 pandemic effects. On a positive note, Equinor has chartered one of its vessels on a long term deal. "There... Continue Reading →
