The Norwegian Ministry of Petroleum and Energy grants Lundin Norway approval to acquire an additional 15% interest in the Edvard Grieg field, and interests in associated pipeline assets, from Statoil.
Source: Offshore
Lundin Receives Edvard Grieg Acquisition Approval from Energy Ministry
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Husky Energy expects to generate free cash flow and may reinstate a cash dividend as crude oil prices have rallied in recent weeks.
Source: Offshore
Canada's Husky Energy Says Oil Price Rally To Generate Free Cash
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Oil Basins resigns as operator of Derby Block in Western Australia, resulting in two directors losing their executive roles in the firm.
Source: Offshore
Oil Basins Quits as Derby Block Operator, 2 Directors Lose Executive Roles
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Malaysia’s offshore oil and gas services provider Tanjung Offshore diversifies into education and training to shore up profitability.
Source: Offshore
Malaysia's Tanjung Offshore Diversifies into Education, Training
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Not everyone in shipping is bemoaning the industry’s worst crisis in living memory: a cluster of companies that help preserve equipment and provide security for vessels parked around southeast Asia are busier than they have been for years.
Source: Offshore
Mothballed Ships In SE Asia Show Pain Inflicted By Oil Slump
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Petrobras appoints Pedro Parente as CEO to replace Aldemir Bendine.
Source: Offshore
Petrobras Appoints Pedro Parente as CEO to Replace Aldemir Bendine
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Most upstream companies in Indonesia are likely to reduce workforce this year given sluggish oil prices, The Jakarta Post reported, citing a survey by PricewaterhouseCoopers Indonesia.
Source: Offshore
Survey Shows Most Indonesian Upstream Firms Likely to Cut Workforce in 2016
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Malaysia’s Bumi Armada posts a net profit of $5.66 million in the first quarter of 2016, down 67.5 percent from $17.42 million in the previous year, while revenue fell 24.7 percent to $104.26 million.
Source: Offshore
Malaysia's Bumi Armada 1Q 2016 Net Profit Down 67.5% YOY to .7M
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Libyan security forces captured a second town from in as many days from Islamic State, a spokesman said, pushing the militant group back towards its stronghold of Sirte and away from positions near to key oil terminals.
Source: Offshore
Libyan Security Forces Pushing Islamic State Back from Oil Terminals Area
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Genel Energy plc reveals that the Taq Taq field partners have received a payment of $11.45 million from the Kurdistan Regional Government for oil sales during April 2016.
Source: Offshore
Genel Receives KRI Payment
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