Recent signs of reckless government spending and an uptick in political violence have raised concerns that Mozambique could be the latest African country to suffer the resource “curse”.
Source: Offshore
Mozambique Gas Projects Raise Risk Of Resource 'Curse'
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Transocean agrees with customer Shell EP Wells Equipment Wells Services BV and shipyard Daewoo Shipbuilding & Marine Engineering Co to delay contracts of two new ultra-deepwater drillships by 12 months.
Source: Offshore
Transocean Delays Deliveries Of Two New Drillships
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Maersk Oil will cut its global workforce by 10-12%, as a response to the continued low oil price.
Source: Offshore
Maersk to Cut Global Workforce by 10-12%
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Keppel Offshore & Marine posts a 34 percent fall in net profit for third quarter 2015 to $119.7 million, compared to $181.7 million a year ago amid a slowdown in new rig orders.
Source: Offshore
Keppel O&M's 3Q 2015 Net Profit Falls 34% YOY to 9.7M
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Singapore’s IEV Holdings and Malaysia’s TL-Emrail consortium sign a memorandum of understanding to conduct feasibility study for projects to process, transport and market liquefied natural gas to Tamil Nadu, India.
Source: Offshore
IEV, TL-Emrail Sign MOU to Consider LNG Projects in Tamil Nadu, India
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The pace of deals in the sector has picked up as a slump in oil prices has battered share prices to such weak levels that companies and assets are proving irresistible to buyers with sufficient funds.
Source: Offshore
Australia Oil, Gas Deals Heat Up With Billion Dollar Merger
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A new study will look into the benefits and disadvantages of unmanned wellhead platforms (UWP) after the NPD calls for UWPs to be considered more often as an alternative to subsea tie-backs.
Source: Offshore
NPD Commissions Study on Unmanned Wellhead Platforms
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Sembcorp Marine’s third quarter 2015 net profit falls 76 percent to $23.1 million due largely to lower contributions from rig building.
Source: Offshore
Sembcorp Marine's 3Q 2015 Net Profit Down 76% to .1M, Rig Revenue Falls
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OMV’s chief executive, Rainer Seele, is reportedly working on plans to cut costs and expand low-cost production.
Source: Offshore
OMV CEO Says Plans Overhaul to Cut Costs
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Gas demand across the European Union is expected to increase by 7% in 2015 following years of decline.
Source: Offshore
EU Gas Demand Up 7% in 2015 on Cooler Weather, Growth
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