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Transocean Suspends Quarterly Dividends For 2015

August 29, 2015

Transocean Ltd. (NYSE: RIG) may halt the dividend for the third and fourth quarters of this year, a move analysts at Evercore ISI say would be a smart move given the deeply challenged offshore drilling environment. The offshore Swiss titan made the announcement after market closing that its board of directors would consider the suspension,… Continue Reading »

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Exceed Introduces Decommissioning Collaboration Tool

August 29, 2015

Exceed has launched online information management system for the offshore decommissioning market. Exceed has invested in excess of £300,000 in the development of iVISION, an online platform which connects multi-location, multi-discipline teams and business units through one central point where information is securely stored and accessed, the company wrote. iVISION also provides a platform for… Continue Reading »

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Maersk Seeks to Shut Oil Installation in UK North Sea

August 28, 2015

Maersk Oil said on Wednesday it would seek regulatory permission to shut its Janice installation, which produces around 7,000 barrels per day (bpd) from three UK North Sea oilfields, as the Danish firm reviews its operations due to falling oil prices. Crude prices have dropped by more than half from year-ago levels, hammering oil producers. But while… Continue Reading »

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Reach Subsea Hikes Q2, H1 Still in Red

August 28, 2015

Norway’s Reach Subsea has bounced back to profit during the second quarter 2015 on higher vessel utilisation after plunging into red in Q1 2015. The Oslo-listed company booked a Q2 2015 net profit of NOK 7.4 million ($900K) compared to NOK 6.9 million ($840K) in a year-ago quarter. The EBITDA was NOK 18.7 million, which represents a quarterly… Continue Reading »

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Mexico Sweetens Oil Auction Terms Again to Avoid Repeat of Flop

August 28, 2015

Oil companies competing in the next phase of Mexico’s historic Round One auction will know the minimum level of profits demanded by the government prior to the auction, the sector regulator said on Tuesday, in a bid to raise investor interest. The oil regulator, known by its Spanish-language acronym CNH, also said it will offer… Continue Reading »

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Lost Time Injury following failure of diving bell door system

August 28, 2015

IMCA has issued new Safety Flash summarizing key safety matters and highlighting lessons learned from maritime incidents. One case refers to an incident in which two divers were injured following the failure of a diving bell door. The incident occurred following some bell internal maintenance and surface bell checks, when the bell was being pressurised… Continue Reading »

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Siem Daya 1 Delivery Due in September

August 28, 2015

Siem Offshore (SIOFF) informed that it has extended the delivery of Siem Daya 1 vessel to Daya Materials until September 30, 2015, with October 15 as cancelling date. The extended delivery, which was scheduled for August 31, 2015, will be due to the vessel’s operations on its current project. SIOFF also informed that other terms and… Continue Reading »

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Oil at $77? It Is in This Country That Plays by Its Own Rules

August 28, 2015

Oil at $77? It is in Argentina. Oil has plummeted below $39 a barrel in the U.S. But despite the price bloodbath in global energy markets, it fetches nearly twice that amount in Argentina — home to some of the most expensive crude in the world. Even as prices plunged anew Monday, sending world benchmarks… Continue Reading »

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