It has been nearly six months since we whacked out one of our quick updates (last one here), so it is time to whip through the latest developments in our favourite companies in offshore. Maersk Supply Service – going private! One of the big trends of the last eight years has been the decline of […]
What did we spy on the last trading day before Christmas 2022? Not Santa sliding down a chimney, but shares in a leading subsea mining company sliding hard to a record low on December 23. The cause was the announcement from The Metals Company that it had received approval to issue a bunch of cut […]
Time for a quick and dirty look at three of our favourite topics – corruption in oil and gas, new marine technology, and the wind industry. Just to be clear, there is no imputation or allegation of any corruption intended or implied outside the stories about Nigeria and India. Except in the British Virgin Islands […]
Ah, Gerard Barron, Chairman and CEO of The Metals Company! My column would “suck without you,” as pop star Kelly Clarkson once put it (here). In the words of that song, “I know that I’ve got issues, but you’re pretty messed up too.” Quite how messed up was revealed last week when The Metals Company […]
Last week was a rollercoaster week for the offshore market. The North Sea spot market continued to sizzle, with Tidewater fixing the 235-tonne bollard pull anchor handler Pacific Discovery for a rig move of the jackup Valaris Norway for over US$100,000 whilst Island Offshore fixed its AHTS Island Vanguard of 227 tonnes bollard pull to […]
This week, we cover a quartet of updates from our favourite sectors: offshore, subsea mining, and the wind industry. DOF: Looking good in black? Good news from Norway. DOF is back in the black in the first quarter of the year – well, kind of. Average utilisation of the fleet from January to March was […]
Two weeks ago we looked at some surprises that were perhaps quite predictable (here); time for an update on developments in Australia at Prelude and Gorgon, two of the most expensive and disappointing LNG plants in the world; a shocking claim against BP in Azerbaijan (Readers of a sensitive disposition may need to be seated.), […]
This week has seen a number of big deals, and a couple of big stumbles. Money is sloshing through the renewables sector like there is no tomorrow. Private equity is enjoying access to cheap capital to expand in both oil and gas and other segments. And then there was one… at Esvagt In the Bible […]
Last week we looked (here) the multiple cases of corruption and bribery that have stained the oil and gas industry’s reputation in recent years from Angola to Azerbaijan, including a gallery of crooks, from former employees at Petrofac, Sonangol, Pemex and Petrobras, to various presidential relations, both dead and alive. This week we study a […]