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Norway oil income heading for six-year low amid price plunge

The state’s oil income is on track to dip to the lowest in at least six years. Net income from the Norway’s direct stakes in offshore oil and gas fields for the first nine months is 13 percent behind the same period last year and barri...

04/11/2015 Read

Fugro letting even more workers go

Dutch marine engineering firm Fugro will lay off hundreds of workers in the coming quarters. The company is trying to keep its expenses at bay due to a deteriorating market situation in the oil and gas market, caused by low oil prices. The oil and...

03/11/2015 Read

Wreckage confirmed to be missing American cargo ship

United States National Transportation Safety Board has confirmed that the wreckage found on Saturday off the coast of the Bahamas at a depth of about 15,000 feet is that of the missing American cargo ship El Faro.  Snar equipment towed f...

03/11/2015 Read

Piracy Crackdown in Southeast Asia Bears Fruit

A piracy crackdown in Southeast Asia appears to be having a positive impact on the number of piracy attacks in the region with only two hijackings reported in the third quarter of the year, according to the latest piracy report issued...

02/11/2015 Read

LOTOS takes interest in Sleipner field

LOTOS Exploration and Production Norge AS has entered into an agreement with ExxonMobil to acquire a portfolio of assets in the Sleipner gas field, located in the Norwegian sector of the North Sea. According to LOTOS, in 2015, the average producti...

02/11/2015 Read

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