Hashtag: #OilAndEnergy
Teekay: Senior Management Departure
Teekay Corporation has announced that Geir Sekkesaeter, Senior Vice President, Conventional Fleet Operations, and Head, Technical, Safety and Quality, left the Bermuda-based international tanker firm for personal reasons, effective on March 31, 2013. Peter Evensen, Teekay’s President and Chief Executive Officer said, “Geir Sekkesaeter has... Read more of this article
Nordic American Tankers Major Public Offering
Bermuda-incorporated Nordic American Tankers [NAT] announced plans to pursue a public offering in which it intends to offload roughly $87m worth of shares. “The net proceeds of the offering are expected to be used to pay for acquisitions under our expansion programme, including the Nordic Future, and for general corporate purposes,” said the shipping... Read more of this article
Northern Offshore Announces Jackup Deal
Bermuda holding company Northern Offshore, Ltd. yesterday [Apr.2] reported that its subsidiary, Northern Offshore UK Limited, has received a declaration from Maersk Olie og Gas AS exercising the first of three one-year options for the jackup “Energy Enhancer”. The commencement date of the option period is mid-July 2013, which commits the... Read more of this article
OIL Holds AGM At Fairmont Southampton
Bermuda’s Oil Insurance Limited [OIL] held its 2013 Annual General Meeting last Wednesday [Mar. 20] at the Fairmont Southampton Hotel. Management reviewed OIL’s 2012 audited financials with the shareholders. During the year, OIL had $672 million of written and earned premium while incurred losses, inclusive of loss adjustment expenses, totaled... Read more of this article
Liberia Ratifies COPBL Oil Transactions
Canadian Overseas Petroleum Limited [COPL] announced today [Mar.27] that the Liberian Legislature, consisting of the Senate and the House of Representatives, has voted in favour of ratifying the Restated and Amended Production Sharing Contract for offshore Block LB-13. Closing and completion of the previously announced transactions between the company’s... Read more of this article
TheStreet Downgrades Energy XXI Bermuda
Bermuda-based Energy XXI has been downgraded by TheStreet Ratings from buy to hold. In a statement, the ratings agency said: “The company’s strengths can be seen in multiple areas, such as its attractive valuation levels and expanding profit margins. “However, as a counter to these strengths, we also find weaknesses including unimpressive... Read more of this article
Videos: Remarks At 2013 Earth Hour Celebration
Greenrock President Dr. Judith Landsberg, Minister of Economic Development Dr. Grant Gibbons, Deputy Mayor Donal Smith, and BELCO’s Denton Williams were among those who delivered remarks at Saturday night’s Earth Hour celebration at City Hall. Earth Hour is celebrated around the world, and encourages people to turn off their lights to serve... Read more of this article
Photos: Earth Hour Celebrated At City Hall
On Saturday night [Mar 23], Bermuda joined with over 130 countries around the world in celebrating Earth Hour, which encourages people to turn off their lights to serve as a visual reminder on the importance of a sustainable lifestyle. People gathered at City Hall, with the festivities beginning at 5pm and including musical and dance performances. Vendors... Read more of this article
120 People Participate In Oil Spill Exercise
Following a mock oil spill drill which took place on-island last week, the Government of Bermuda says it is now further prepared to deal with any potential future spills which may occur in our waters. Last week more than 120 people participated in the four-day Bermuda ExxonMobil North America Regional Response Team [NARRT] Oil Spill Exercise, which... Read more of this article
Energy Announce Gulf Of Mexico Joint Venture
Bermuda-based Energy XXI yesterday [Mar 19] provided an update highlighting activity on the Gulf of Mexico shelf and onshore Louisiana. A spokesperson said, “The company has entered into an agreement with Apache Corp. to explore for oil and gas pay sands associated with salt dome structures on the central Gulf of Mexico shelf. The area of mutual... Read more of this article
Bermuda Gas Employees Raise The ‘Green’ Bar
Bermuda Gas has gone greener by voluntarily adopting the 1989 international treaty known as the Montreal Protocol on Substances that Deplete the Ozone Layer, by ensuring that its gas technicians undertake refrigerant removal training. Ten Company technicians have now completed this training. “The Montreal Protocol is an international treaty designed... Read more of this article
Fuel Prices Decline Effective March 15th
Commuters will be happy to hear that the Ministry of Finance announced [PDF] that — with effect from 15th March — the maximum prices of petroleum products change as follows:- Gasoline -4. 5 cents/litre Diesel – 5. 8 cents/litre Kerosene – 7. 9 cents/litre As a consequence the maximum retail prices displayed on the pumps for... Read more of this article
