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Premier ends contract for ‘Eirik Raude’. Postpones Chatham well

Premier Oil, an independent oil and gas company, has ended a contract it had with the offshore driller Ocean Rig for the Eirik Raude semi-sub.  Namely, Premier Oil and Noble Energy entered into a contract with Ocean Rig UDW on June 3, 20...

12/02/2016 Read

Shell says to use own cash to fund BG deal after cancelling $14.4 billion loan

Hague-based LNG giant Shell said Thursday it has cancelled a US$14.4 billion bridge credit facility intended to fund its takeover of BG group. Shell entered in May 2015 into a £10.07 billion (US$ 14.4 billion) bridge credit facility agr...

12/02/2016 Read

UK court gives green light to Shell-BG deal

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...

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Aker Solutions to Trim Salaries

Aker Solutions will temporary reduce wages of its Norwegian maintenance, modifications and operations (MMO) employees, the company said Thursday. Starting in March, senior management will see their pay lowered by 10 percent while the rem...

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Wilh. Wilhelmsen Spins Off Den Norske Amerikalinje

Norwegian rolling cargo shipping specialist Wilh. Wilhelmsen Holding (WWH) has opted for restructuring the company as it separates Den Norske Amerikalinje AS, which owns a 12% shareholding in Hyundai Glovis, from Wilh. Wilhelmsen...

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