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Dong paid millions in Hejre settlement

The yard which constructed an unused platform component for the Hejre field was still able to profit from the situation, taking advantage of Dong's eagerness to divest of its oil division without a lingering court case, report South Korean media.

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Iran, Total expect to sign biggest gas-field deal in weeks

Iran has the world's biggest gas reserves and is the third-biggest oil producer in the Organization of Petroleum Exporting Countries. Total expects to sign a contract with Iran to develop part of the world's biggest natural gas field in the next few weeks.

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Rosneft finds first oil in the Arctic

Russia's oil company has found the first oil in the eastern part of the offshore area. Now, the company is working on estimating the extent of the new oil field.

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Media: Maersk will list Oil and shelve other plans

Maersk Oil could be listed on the stock exchange in less than six months, reports Danish media Berlingske, based on information from unnamed sources. Meanwhile, the group is shelving IPO plans for Maersk Supply Service and Maersk Drilling.

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Report points to "vast volumes" of oil in Norway

Norway has produced oil and gas for 50 years, but the reserves are not even halfway depleted, notes the company's petroleum directorate in its latest resource report. Discoveries have been made for volumes totaling more than 4.4 billion barrels, according to the report.

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Noreco returns with big plans for the North Sea

A few years ago, Norway's Noreco faced potential bankruptcy. Today, things have turned around after the company emerged victorious in a Danish insurance claims case. Noreco will now invest large sums on the British and Danish North Sea shelves, reports Dagens Næringsliv.

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Monjasa has shut down London oil venture

Bunker group Monjasa has halted its ambitions in shipping larger oil cargoes, a venture which was launched two years ago. An office in London dedicated this venture has been shut down. We want to focus on our core business, the group's COO tells ShippingWatch.

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Saudi Aramco's IPO plans criticized in London

A series of investors call for the London Stock Exchange to reject state-owned oil major Saudi Aramco's plans to list 5 percent of the company in London. The size is too small, critics say.

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Norwegian suppliers: Statoil is too powerful

Statoil has become too powerful a company and is pressuring subcontractors into continuously lowering prices on contracts, says a Norwegian supplier, according to Sysla.no, stressing the need to scrutinize the power of the oil major.

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Trump sends oil prices down

Expectations about increased US oil production after the exit from the climate plan has sent both of the huge reference oils down under USD 50 per barrel.

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Transocean books huge impairment on rig sale

Transocean makes a USD 1.6 billion impairment after selling its jack-up fleet to Borr Drilling, which was established in March by former executives from John Fredriksen's empire. The deal for the 15 rigs is worth a total USD 1.35 billion.