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Mexico’s Pena Nieto Axes Pemex CEO, Orders Cuts Amid Oil Slump

February 10, 2016

Mexican President Enrique Pena Nieto on Monday removed Emilio Lozoya, the head of ailing state-oil firm Pemex, replacing him with the country’s social security chief whom he tasked with cutting costs amid a global oil rout. A close ally of Pena Nieto, Lozoya became Pemex CEO in December 2012, overseeing the company during a momentous… Continue Reading »

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Commercial Diving and Underwater Welding Schools

February 10, 2016

Hyperbaric welding is an exciting and rewarding profession. Underwater welders must not only have the welding training and certifications required, but must also be prepared to work in underwater environments and have specialized training in diving and underwater operations. To become an underwater welder, there are many options to choose from. Based on industry reputation, accreditation,… Continue Reading »

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Steel River Consultants to Work on NSN Link

February 10, 2016

Health-and-safety specialists Steel River Consultants (SRC) have been selected to provide technical support for a project to construct an electricity link between the UK and Norway. The company will act as hazard identification (HAZID) facilitator and provide CDM support and health and safety advisory services to cable supplier Prysmian. The North Sea Link (NSL) project,… Continue Reading »

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Halliburton May Sell Baker Hughes’ Offshore Fluids Unit

February 9, 2016

Almost 16 months after announcing its takeover of oilfield services rival Baker Hughes Inc., Halliburton Co. is adding yet more assets to the list of businesses it plans to sell to appease antitrust regulators who’ve been stalling the deal. Halliburton plans to divest Baker’s offshore drilling-and- completions fluids division and the bulk of Baker’s completion systems,… Continue Reading »

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As Big Oil Shrinks, Boards Plot Different Paths Out Of Crisis

February 9, 2016

As oil and gas companies cut ever-deeper into the bone to weather their worst downturn in decades, boards have adopted contrasting strategies to lead them out of the crisis. Crude prices have tumbled around 70 percent over the past 18 months to around $35 a barrel, leading to five of the world’s top oil companies… Continue Reading »

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Port Macquarie Artificial Reef One Step Closer

February 9, 2016

The Port Macquarie Artificial Reef loadout was completed last week and the vessel Leaders Creek from Polaris and its barge load of reef modules arrived in Port Macquarie. The purpose built reef will be installed 6km off the River mouth providing recreational anglers with access to new habitat and enhanced fishing opportunities. The reef will feature 20… Continue Reading »

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Danish Minister Approves Baltic Sea Interconnection to Germany

February 9, 2016

The Danish Minister for Energy, Utilities and Climate, Lars Christian Lilleholt, has approved Energinet.dk’s application for investment in a new interconnection between the Eastern Danish and German electricity grids via the Baltic Sea. Pursuant to the Danish Act on Energinet.dk, any investments in the transmission grid exceeding DKK 100 million must be approved by the… Continue Reading »

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Obama Says US Should Take Advantage of Cheap Fuel With Oil Tax

February 9, 2016

President Barack Obama defended his proposal to levy a new $10-per-barrel tax on oil, arguing that low gasoline prices afford the U.S. an opportunity to finance dramatic improvements in its transportation systems. “Right now, gas is $1.80 and gas prices are expected to be low for the forseeable future,” Obama told reporters at the White… Continue Reading »

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Halliburton Launches Electrohydraulic Subsea Safety System

February 9, 2016

Halliburton has released the Dash 3-inch Subsea Safety System, a solution for electrohydraulic control of Halliburton’s subsea safety tree. Previously, control was provided through direct hydraulic pressure from the surface. According to Halliburton, this latest edition to the Dash series employs the speed of electrohydraulic actuation to core safety functions while still providing full direct… Continue Reading »

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Moody’s: Oil, Gas Loans Not Likely to Choke Big U.S. Banks

February 8, 2016

Losses from souring oil and gas loans at the largest U.S. banks are probably manageable, even if fuel prices remain low, according to Moody’s Investors Service. At the six biggest banks, funded exposures to the industry amount to 2.3 percent of total loans, Moody’s said Friday in a report. Morgan Stanley is at the high… Continue Reading »

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