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Northern Ocean’s Third Quarter Results

December 1, 2020
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Northern Ocean issued their third quarter results and below are the highlights: Highlights - Third Quarter Subsequent Event West Bollsta commenced its initial contract for Lundin Energy Norway AS on October 6, 2020. Results In the third quarter, operating revenue was $21.4 million compared to $24.8 million in the previous quarter. The West Mira continued operations under contract

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Brazil prosecutors pin suit on Trafigura for alleged bribes in so called Car Wash probe

December 1, 2020
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Brazilian federal prosecutors have filed a lawsuit seeking damages from oil trading company Trafigura and former executives on corruption allegations involving Brazilian state-run oil company Petroleo Brasileiro SA (Petrobras), according to a statement on Monday. The prosecutors are also seeking a court order to freeze 1 billion reais ($187.55 million) of the defendants’ assets pending a final ruling

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Transocean Ltd. Announces Amendments to Resolve Allegations Contained in Purported Notices of Default

December 1, 2020
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Transocean Ltd. (NYSE: RIG) announced today that it, Transocean Inc. (together with Transocean Ltd., the "Company") and certain of its subsidiaries executed amendments to certain of their financing documents and implemented certain internal reorganization transactions to resolve the allegations contained in the previously disclosed notices of alleged default (the "Notices") with respect to Transocean Inc.’s 7.25% Senior Notes due 2025 (the

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Seadrill Partners files for bankruptcy

December 1, 2020
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Seadrill Partners LLC (the “Company”) has been in negotiations with an ad hoc group of lenders under the Company’s Term Loan B credit facility (the “TLB”) regarding a consensual reorganization of the Company’s balance sheet.  In consultation with—and with the support of—the ad hoc group, the Company has filed voluntary petitions under chapter 11 of the Bankruptcy

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Pioneer Natural Resources CEO sees oil demand recovery in 2022

December 1, 2020
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Global oil demand will likely recover to its pre-pandemic levels of 100 million barrels per day (bpd) by 2022 or early 2023, Pioneer Natural Resources Chief Executive Scott Sheffield said on Tuesday. Demand next year is likely to be around 97 million bpd, Sheffield said, speaking at the Reuters Future of Oil & Gas 2020 virtual conference. He

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Borr Drilling Prelim Results for Third Quarter of 2020

November 30, 2020
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Borr Drilling Limited unaudited results for the three and nine months ended September 30, 2020. Highlights in the Third Quarter of 2020 Total operating revenues of $59.2 million, net loss of $61.9 million and Adjusted EBITDA  of $(10.1) million for the third quarter of 2020.  The combined Adjusted EBITDA of the four separate Mexican JVs that the Company has ownership in

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Canadian indigenous deal with KXL oil pipeline took years

November 30, 2020
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TC Energy Corp’s sale of a C$1 billion ($769 million) stake in Keystone XL (KXL) to a Canadian indigenous group is the result of over three years of pressure from a tiny Saskatchewan First Nation that demanded part ownership of the long-delayed oil pipeline, rather than short-term payments for allowing it to be built through its lands. Natural

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US sanctions Chinas CNOOC

November 30, 2020
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China’s third-biggest oil company faces a U.S. blacklist, which could spur major outflows from its Hong Kong-listed unit, after years of involvement in offshore drilling in disputed South China Sea waters. China National Offshore Oil Corp., the nation’s main deepwater explorer, is among four companies to be added to a list of firms owned or controlled by the

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2020 Live Career Fair Stats

November 28, 2020
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5 recruiting companies from around the world came on our stream and shared with us the people they were looking for, which regions they were working in and what projects they were currently staffing for. 7 sponsor companies in fields such as marine engineering, virtual reality, marketing, blockchain and social media came on and chatted with us about

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