Indonesia’s Medco Energi has set a price for a potential offer for the takeover of London-listed oil company Ophir Energy – 48.5 pence a share in cash. Earlier this month, the two companies said they were in talks over a potential takeover by Medco…
After four years of cutbacks, oil companies are poised to open their purses again and develop new offshore fields, although the benefits won’t be spread equally across the companies who provide them everything from seismic surveys to pumps and turbines. The long-awaited spending rebound…
Equinor has completed a transaction with Chevron west of Shetland. The company has taken on Chevron’s 40% operated interest in the undeveloped deep-water Rosebank oil project west of Shetland. During the first half of this year, Equinor aims to start up Mariner in…
A leading provider of innovative asset cleaning and decontamination solutions has reported a successful return to an important overseas market. In 2017, Inverurie-based Denholm MacNamee unveiled significant investment in the purchase of an external heat exchanger cleaner (shell side) and associated equipment which was…
Philippines firm Phoenix Petroleum said on the 11th January that it has won government approval to build the nation’s first liquefied natural gas import terminal for US$2 billion, in partnership with China National Offshore Oil Corporation (CNOOC). Phoenix, a fuel retailer, said it plans…
Saudi Arabia has announced an increase in its oil and gas reserves, revealing for the first time details about the world’s largest deposits. An external audit was conducted as Saudi Aramco, the state oil giant plans for its initial public offering. US consultant…
Looking ahead to the next 12 months, Wood Mackenzie foresees a mixed mood in the global liquefied natural gas market. In a statement the consultancy observed that the LNG market in 2019 will feature a return of “big LNG buyers” and “a record year for…
A truce has been reached in the dispute over a natural gas pipeline in western Canada, easing tensions for now as government leaders remain wary of intervening on the side of either the company or indigenous protesters. Hereditary leaders of the Wet’suwet’en First Nation…
Norwegian oil company DNO is taking over Faroe Petroleum. After weeks of resisting DNO’s hostile bid of 150p a share, the Faroe board finally yielded. DNO raised the bid to 160p for shares it did not already own on the 8th January and…
Former James Fisher managing director Martin Sisley, offshore energy consultancy Nautilus Associates and a group of specialist investors have formed a new specialist marine services company – Seabed and Offshore Solutions. The new business is based at OrbisEnergy in Lowestoft, the renewables hub for…
