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 […]
The wheels on the bus go round and round. Until they fall off. James Fisher and Sons’ share price now languishes below where it stood at the start of 2013, an eight-year low. Since we asked whether there was “something fishy at James Fisher” in January 2020 (here), the shares have fallen from £20 (US$27.43) […]
We return once again to the issue of subsea mining this week. This means we can’t offer any insight into the tragic loss of the Afcons Infrastructure work barge P305, which sank 35 nautical miles off Mumbai on May 17 during Cyclone Tauktae, whilst chartered to India’s state oil company Oil and Natural Gas Corporation […]
There’s so much not to talk about this week. We’re not talking about Tidewater Earlier this month, industry leader Tidewater reported its quarterly results (here) with CEO Quintin Kneen unveiling a net loss of US$35 million, compared to a loss of just US$18 million a year ago. The company’s active fleet of offshore support vessels […]
The day after Good Friday – Saturday, April 3 – was a good day for DeepGreen Metals, the company that plans to mine polymetallic nodules from the deep abyssal plain of the Pacific Ocean in the Clarion-Clipperton zone, west of Baja, California (map here). DeepGreen announced (here) that it was to become a public company […]
A DeepGreen vessel[/caption]
The government of Nauru has formed a partnership with DeepGreen Resources to explore the seafloor in an effort to generate new revenue sources for the country.
Offshore is a cyclical industry; when assets are at their cheapest, nobody wants to buy them, and nobody will lend money to acquire offshore vessels and rigs.
It has been a rollercoaster couple of months for seabed mining pioneer The Metals Company. For most of the last year, the company’s share price languished below one US dollar, as it has burnt cash on its experimental phase to prove the effectiveness of the deepwater polymetallic nodules collection system owned and operated by Allseas. […]
Some seriously odd things have been happening with everyone’s favourite penny stock deepsea mining player, The Metals Company. On January 31, Gerard Barron’s speculative harvester of polymetallic nodules from the abyssal plain of the Pacific Ocean was trading at 87 US cents per share. A week later, it shot up over 50 per cent to […]
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