Keppel Offshore & Marine’s subsidiary, Keppel Shipyard, has secured a Floating Production Storage and Offloading (FPSO) conversion contract as well as three repair, upgrade and modification contracts worth a total of about S$125 million ($89.3 million). The FPSO conversion project…

McDermott International, Inc. on Monday reported second quarter 2015 net income of $11.5 million, compared to a net loss of $7.4 million for the same period in 2014. The company said on Tuesday that, had it not been for restructuring…

Wärtsilä’s Board of Directors has appointed Mr Jaakko Eskola (57) MSc (Eng.), as the new President and CEO of Wärtsilä Corporation. He will assume the position on 1 November 2015, succeeding Mr Björn Rosengren, who will become the CEO of…

Otto Energy, the operator of the Hawkeye well offshore Palawan, in the Philippines, has placed the blow-out preventer (BOP) on the seabed and is continuing with the drilling operations. To remind, Hawkeye-1 exploration well was spud on July 31 2015,…

U.S. weekly offshore rig count has climbed up from last week, Baker Hughes informed on Friday in its Weekly Rig Count reports. BHI Rig Count: U.S. +10 to 884 rigs U.S. Rig Count is up 10 rigs from last week…

Bluewater Energy Services B.V. has announced the award of a contract from Hyundai Heavy Industries (HHI) for the engineering, procurement, construction and integration (EPCI) of a turret and mooring system for the Rosebank Floating Production, Storage and Offloading (FPSO) vessel.…

Monaco-based LNG shipper GasLog said its profit for the second quarter of this year rose to $16.7 million, as compared to $3.5 million in 2014. The company’s profit rose mainly due to “the increase in operating days and the increase…

Exxon Mobil Corporation (NYSE:XOM) today announced it has executed two agreements to obtain horizontal development rights in 48,000 acres in the core of the Midland Basin. The two agreements include an acquisition and farm-in adjoining XTO’s existing acreage position in…

A fund that applies the investment principles of the great Sir John Templeton is backing oil shares to bounce back. Sir John Templeton believed in buying shares at “the point of maximum pessimism” and his principles live on today in…

Aqualis Offshore, a specialized marine and offshore engineering consultancy, has been contracted by Mekers Offshore Ltd to supervise the construction of the Zhejiang-based company’s two new liftboats. A liftboat is a self-propelled, self-elevating vessel with a large open deck capable…