Daily Archives: February 11, 2016

Hercules Offshore contemplating a sale of its business?

By Offshore Energy Today Hercules Offshore, Inc., a U.S. offshore driller is exploring its options, including a merger or a sale of the company. In a statement on Thursday, the company said it established a special comprised of all the independent members of the Board of Directors of the companyto consider and explore various Read…

Norway: Aker Solutions lowers salaries for MMO business

By Offshore Energy Today.. Aker Solutions, a Norwegian oil services company, will be reducing the salaries for its senior management and other staff in the Norwegian maintenance, modifications and operations (MMO) business. The company called these measure “tough but necessary” in order to raise competitiveness and win more work for its Norwegian MMO Read Full…

Record production, high refining margins curb Total profit fall

By -Offshore Energy Today- By Bate Felix and Karolin Schaps PARIS/LONDON (Reuters) – Record upstream production and high refining margins in Europe helped Total report better-than-expected fourth-quarter net profit but the company said it planned to cut costs and reduce spending further due to prolonged low oil prices. Total, like peers, has seen revenue Read…

APG Gains Dual-Fuel Orders from U.S. Regulatory Changes

By NGV Global The changing regulatory climate in the U.S. has contributed in part to American Power Group Corporation’s subsidiary, American Power Group Inc. (APG), receiving follow on purchase orders from two of its top U.S. customers, the company explained. These new orders, for APG V5000 Turbocharged Natural Gas® Systems and supporting Read Full Article…

Repsol to close down Varg field off Norway

By Offshore Energy Today.. Spanish oil major Repsol has reportedly asked for a permission from the authorities to plug eight wells and shut down the Varg field, located in the Norwegian sector of the North Sea. Repsol is the operator of the field with 65% interest and the partners are Petoro with 30%, Read Full…

UK court gives green light to Shell-BG deal

By LNG World News The High Court of Justice in England and Wales has on Thursday approved the multi-billion merger between Shell and BG Group. The court has sanctioned the scheme of arrangement “under Part 26 of the Companies Act 2006 by which the recommended cash and share offer made by Royal Dutch Shell Read…

Court approves Shell-BG merger

By Offshore Energy Today UK’s BG Group has informed that the High Court of Justice in England and Wales has today sanctioned the scheme of arrangement by which the recommended cash and share offer made by Royal Dutch Shell plc to take over BG is being implemented. According to BG Group, it is expected Read…

Shell cancels $14.4B bridge loan. Will use own cash for BG merger

By Offshore Energy Today Oil and gas industry juggernaut Shell has cancelled a multi-billion bridged credit facility, originally meant to be used in support of the Shell’s $50 billion takeover of BG Group. Shell in May 2015 as borrower, entered into a £10.07 billion ($14.5 billion) bridge credit facility agreement with a group of Read…