Americas
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Statoil adds to Uruguay assets
Statoil is not hanging around cementing its position in Uruguay. The Norwegian oil firm agreed on February 1 with Total…
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Pacific NorthWest LNG terminal passes environmental test
Supporters of the Pacific NorthWest liquefied natural gas (LNG) terminal project in British Columbia were encouraged by a report from…
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Paragon Offshore set to declare Chapter 11 bankruptcy
Heavily indebted rig operator Paragon Offshore will file for Chapter 11 bankruptcy this weekend. The Houston-based company announced it has…
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Panamaxes help Baltic Dry Index end its record-breaking rout
The Baltic Dry Index (BDI) today advanced by 1 point to reach 291 points, the first time the index has…
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Premier and Rockhopper cancel Falklands contract with Ocean Rig
Two of the major British players in Falkland Islands offshore oil development, Premier Oil and Rockhopper Exploration, on Thursday cancelled…
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Lockton takes over Italian P&I broker specialist PL Ferrari
US-headquartered Lockton, the world’s largest privately owned global insurance broker, has officially announced the takeover of PL Ferrari & Co,…
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Blackstone forms PE platform to take advantage of offshore crisis
Investment firm Blackstone has announced the formation of Clarion Offshore Partners, a platform to provide strategic solutions to the offshore…
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US ports ill-prepared for new container weighing requirements
Fitch Ratings, one of the big three statistical ratings agencies in the US, said on Thursday that US ports are…
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New search for El Faro’s VDR will start in April
The US National Transportation Board (NTSB) announced on Thursday it will make another attempt to find the Voyage Data Recorder…
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Ultrapetrol bondholders agree to extend forbearance period
Ultrapetrol has won approval from bondholders to hold off enforcement action related to its 8.875% first preferred ship mortgage notes…
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Hercules Offshore to explore ‘strategic alternatives’
NASDAQ-listed drilling contractor Hercules Offshore, having emerged from Chapter 11 bankruptcy in November, has announced the formation of a special committee…
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Offshore Group Investment Limited completes restructuring, changes name
Offshore Group Investment Limited (OGIL) has completed its prepackaged Chapter 11 restructuring in the US and will change its name…
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Coalition formed to sue Petrobras on behalf of Europe-based investors over corruption scandal
Brazil’s troubled state oil firm Petrobras faces possible new legal challenges from a coalition of groups representing international investors based…
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Pemex’s new CEO says job cuts are not inevitable
The newly installed CEO of Mexico’s state oil firm Pemex has said that while restructuring of the struggling entity is…
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Port worker killed in Florida
A worker at Port Everglades was killed late yesterday afternoon when he was struck down by a tractor-trailer as he…
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Port Metro Vancouver officials dismiss ‘oil spill’ photo
Fears of an oil spill in Vancouver Harbour have been dismissed despite photos that appeared on Facebook suggesting something irregular…
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US offshore regulatory bodies in line for budget hikes in 2017
The bodies charged with regulating offshore oil and gas exploration and extraction in the US stand to be better funded…
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US Department of Justice probes SBM Offshore bribery claims
SBM Offshore has revealed US authorities have reopened an inquiry into bribery allegations involving the Dutch company. SBM paid out…
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Golar LNG Partners buys FSRU from Golar, secures $800m loan
Golar LNG Partners is to acquire the Golar Tundra floating storage and regasification unit (FSRU) from the vessel’s current operator…
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Ardmore secures $64m loan to support growth
NYSE-listed Ardmore Shipping has agreed a $64m senior secured term loan with Credit Agricole Corporate and Investment Bank to help…
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