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North Sea Oil Decommissioning Costs Set to Rise

(Bloomberg) — The cost of dismantling oil production facilities in the U.K. North Sea over the next decade will be higher than previously forecast as more fields are scheduled to halt production, according to a group representing the British in...

19/11/2015 Read

STX Offshore & Shipbuilding cuts jobs to stave off collapse

South Korean shipbuilder STX Offshore & Shipbuilding is planning to cut 800 jobs and focus entirely on the construction of tankers in an attempt to recover from financial troubles, the Korea Herald reports. Quoting STX chief exe...

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Weak dry bulk market affects Star Bulk

Weak dry bulk market and consecutive net losses have forced Greek dry bulk shipping company Star Bulk Carriers to further postpone the delivery of four newbuilding’s. According to the company, they have managed to de...

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Reach Subsea ASA gearing up for vessel layups

Reach Subsea ASA, a provider of IMR, ROV, survey construction, support and decommissioning services, is considering redundancies and layups of two vessels, Edda Fonn and Stril Explorer, in order to reduce costs.  The rates...

18/11/2015 Read

Maersk Oil has several billions to spend on acquisition drive

LONDON, Nov 17 (Reuters) – Danish oil company Maersk Oil has several billion dollars to buy new licences, oil-producing fields or even launch a corporate takeover, the company’s Chief Operating Officer told Reuters. The oil producer, s...

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