General Electric Co. agreed to buy the well-support division of John Wood Group Plc for about $2.8 billion, adding equipment that helps extract more oil and gas from mature fields to round out its offerings.
Malaysian prosecutors filed charges that carry the death penalty Friday against seven Somali pirate suspects in an attack on a Malaysian-operated ship, in the first such charges in Asia against the African sea bandits.
BP has offered its Russian venture TNK-BP a chance to join its partnership with Rosneft, TNK-BP's deputy chief executive said Friday, signaling a possible resolution to a dispute.
A collision between two vessels 30 miles south of Start Point in Devon left two fishermen in the water, both of whom have now been recovered.
The UK’s marine industries contribute £3.7 billion to the UK economy each year, according to figures released by the Marine Industries Leadership Council.
A natural gas well blowout that burned for two weeks in northern Alberta last year will not result in any penalties for owner Canadian Natural Resources, Ltd.
A Nato warship has captured a suspected pirate mother ship off Somalia, Nato's counter-piracy mission has said.
Ottawa will review PetroChina’s proposed $5.4-billion bid for a chunk of an Encana shale-gas project to ensure the deal is good for Canada, Industry Minister Tony Clement said Friday.
Installing sharpshooters on oil tankers to fight off pirates as some shippers have suggested risks provoking more aggressive attacks, a senior executive at reinsurer Munich Re warned.
The U.S. Coast Guard does not have enough working icebreakers to respond to a major oil spill in Alaskan waters, the top official who oversaw the containment of the BP oil spill warned Congress on Friday.
The Baltic Dry Index took its first tentative steps upward this week when it closed yesterday at 1136 points, up from the dismal 1043 it bottomed out at a week ago. The index, which gives a picture of dry bulk freight carriage prices globally, has been plunging downwards from a high of 2784 achieved in late October.
Royal Caribbean reports on its web site that it has signed a letter of intent with German shipyard Meyer Werft to build a 4,100-passenger cruise ship with an expected delivery in autumn 2014.
International arbitrators ordered Ecuador to suspend enforcement of any judgment against Chevron Corp in its marathon rainforest pollution case, representing another important win for the U.S. oil company.
Petrobras’ board of directors approved the bidding process for the construction, in Brazil, of the first seven of a total of 28 offshore drilling rigs intended to meet its long-term drilling program with priority given to the pre-salt wells. The new rigs are expected to come into operation in 2015. The remaining 21 rigs will also produced in the country.
Colombo Dockyard PLC (CDPLC) has come of age in the ship building industry, building so far 217 various types sea vessels over the years. The company has completed and ready for commissioning its 11th large and highly complex vessel – 78m “Greatship Rohini” with the naming of the ship taking place on Wednesday at the Colombo Dockyard with Basil Rajapaksa, Minister of Economic Affairs in attendance.
BG Norge AS has been granted consent to carry out exploration drilling of well 6604/2-1 in the Norwegian Sea with the mobile facility Aker Barents.
Aker Solutions has been awarded a letter of intent (LOI) from Statoil for the engineering, procurement and construction of a subsea workover system for the Vigdis North East development on the Norwegian Continental Shelf. Aker Solutions estimates that the contract value will be approximately US $85 million (NOK 500 million). 
NuStar Energy LP has closed on a joint venture with Turkish companies S-Oil and Aves giving NuStar majority ownership and operational control of two petroleum terminals in Turkey. NuStar will acquire a 75% ownership stake in the joint venture for about $54 million.
Euro Exchange Rate