Oil & Gas

DNO repeats bid for Faroese oil outfit, criticizes management

Norwegian oil and gas operator DNO makes its second bid for Faroe Petroleum. This time, the former baits the latter's management with a handsome premium of GBP 50 million but in the same breath criticizes the very same management for having "jettisoned a crown jewel asset" in a swap deal with Equinor.

Norwegian offshore faces another dire year

The coming months will bring a new struggle for the Norwegian offshore shipping companies, says Harald Solberg, CEO of the Norwegian Shipowners' Association, in an interview with EnergyWatch's sister media, ShippingWatch. "There is significant imbalance in the supply chain," he says.

Batteries make debut in drilling rig market

West Mira will become the world's first offshore drilling rig to utilize onboard batteries, reducing CO2 emissions and cutting fuel consumption, says Siemens, the purveyor of the technology.

Offshore carriers facing tough winter

A tough few months lie ahead for offshore vessels on top of the fact that many do not have contracts, says brokerage firm Lorentzen & Stemoco, according to Norwegian media Sysla.

Swedish pension fund managers still major fossil sinners

European asset managers -- including several from Sweden -- are overexposed to coal and oil, according to a recent survey from WWF. New analytical methods are gaining a foothold, and could potentially contribute to new investment strategies in future.

Texas refinery named in case about bad bunker

An oil company with a large refinery in Houston is mentioned as supplier in a new case about contaminated bunker in which shipping company Chembulk experienced problems. This marks the first time that a refinery is mentioned in one of the many cases.

Dismissed employee triggered Endofa's dispute with former partner

Endofa's ambitions to build a global bunker company ended up in animosity and a sentence against a partner for providing misleading information about oil trades in Angola. But it was an outsider who set the case rolling. Based on witness testimony, ShippingWatch tells the story.

Oil majors face new charges in spectacular corruption case

Nigeria may have been defrauded of up to USD 6 billion in future revenues in connection with an agreement the country entered with oil majors Shell and Eni, according to a new analysis from NGO Global Witness. Both companies face bribery changes.

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