Keppel Offshore reduces headcount, plans to close three yards in Singapore Singapore’s rig builder Keppel Offshore & Marine has reduced its workforce by 2,620 in the last quarter of 2016 and over 10,000 during the year. The company has also made plans to close three yards in Singapore. In its 4Q 2016 report on Thursday, …
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Lebanon opens five offshore blocks for bidding in a first licensing round According to Reuters Lebanon relaunched its first oil and gas exploration and production licensing round after a three-year delay, its energy minister said on Thursday, kick-starting the development of a hydrocarbon industry stalled by national political paralysis. Lebanon has opened five offshore blocks …
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PetroChina – Profit may drop to record low on oil’s plunge PetroChina Co., the country’s biggest listed oil and gas producer, said full-year net income in 2016 fell by as much as 80 percent, putting it on pace to report a record-low profit says Bloomberg The slump is due to lower international oil prices and …
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Murphy Oil narrows loss in 4Q U.S.-based oil & gas company Murphy Oil narrowed its net loss during the fourth quarter of 2016 amid decrease in revenues. Murphy Oil incurred a net loss of $63.9 million for the fourth quarter of 2016, compared to a net loss of $587.1 million in the same period of 2015. …