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Category Archives: Outlook

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Ardent, Subtech Team Up in Sub-Saharan Africa

June 4, 2015

Ardent, the newly created company between Svitzer and Crowley, is launching a Joint Venture with Southern Africa’s diving and marine services company, Subtech. The Joint Venture will build on collaboration between Ardent and Subtech through projects such as the wreck removal of the MV SMART in Richard’s Bay and the emergency response salvage of the… Continue Reading »

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Shale to Play Significant Role in Mexico’s Energy Reform Success

June 3, 2015

Mexico’s shale resources will play an integral role in the success of Mexico’s energy reform, but significant challenges will need to be addressed, including the construction of roads, housing, rail, pipelines and other infrastructure, as well as skilled workforce development and security issues. The country is well-positioned to take advantage of unconventional extraction techniques due… Continue Reading »

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Kemp: US Shale And OPEC, The Altered Balance Of Power

June 2, 2015

Two landmark events this month will underscore the extent to which the oil market’s balance of power has been transformed by the shale revolution. In Washington, Congress will begin considering legislation to permit the export of crude oil from the United States, reversing a four decade ban put in place after the first oil crisis… Continue Reading »

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Ezra to Raise $300 Mln for Debt Refinancing

June 2, 2015

Singapore’s Ezra has announced plans to raise up to $300 million through a combination of rights issue and convertible bonds in order to refinance its debt. The offshore O&G contractor said it expects to raise approximately US$150 million from the rights issue which will be primarily applied to the redemption of the S$225 million fixed rate notes…. Continue Reading »

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Reach Subsea Slumps to Loss

June 1, 2015

Norwegian contractor, Reach Subsea, has plunged to a loss in the first quarter 2015 as its results were hit by weak market and low vessel utilisation. The Oslo-listed company booked a net loss of NOK 9.2 million ($1.2 million) for the period, compared to profit of NOK 3.8 million (approx. $0.5 million) in the first quarter 2014. This result was… Continue Reading »

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In Questionable Financial Times, Profits Are Still Possible In Africa

May 31, 2015

As oil prices continue to fluctuate and leave industry players in limbo, many are looking for new investments that will still allow for profitable returns in an uncertain market. While many shale and some deep water plays have been put on hold until oil prices begin to rebound – a process some speculate will take… Continue Reading »

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No. 2 Offshore Oil Driller Seadrill Sees Industry Pain Through 2016

May 30, 2015

Seadrill, the world’s second biggest offshore oil driller, predicted years of pain for the global rig market on Thursday as energy companies continue to pare spending despite a recent lift in oil prices. The company, part of shipping tycoon John Fredriksen’s business empire, said charter rates are down, most contract talks are about renegotiating existing… Continue Reading »

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Oceanteam Posts Q1 Loss

May 30, 2015

Norway’s Oceanteam has booked a net loss of $0.4 million for the first quarter ended March 31, 2015, as the revenues dropped on lower demand. The Oslo-listed company, comprised of two operating segments, Oceanteam Shipping and Oceanteam Solutions, generated $14.3 million in operating revenues, down approximately 5% compared to the same period last year. Oceanteam Shipping recorded… Continue Reading »

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OPEC Seen Backing Saudi Arabia’s Plan to Keep Supplies Elevated

May 29, 2015

When Saudi Arabia argues next week that OPEC should keep up production to fight the rise in U.S. shale oil levels, prices will be on its side. Crude plunged for eight of nine weeks prior to group’s November gathering, when the kingdom faced down opposition from the majority of fellow members, who advocated output reductions… Continue Reading »

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Fugro Nets McDermott Extension

May 29, 2015

Fugro has been awarded a three-year extension to its existing contracts with engineering and construction company, McDermott Middle East. The extension is for the provision of survey, positioning, remotely operated vehicle (ROV) and diving services in the United Arab Emirates, Qatar, India and Saudi Arabia. McDermott currently operates two work barges in the region as… Continue Reading »

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