Japanese Shipping Company Fined $1.5 Million for Concealing Illegal Discharges of Oily Water

Misuga Kaiun Co. Ltd. (MISUGA), a Japanese-based company engaged in international shipping, was sentenced yesterday in federal court before U.S. District Court Judge Paul G. Byron in Orlando, Florida. The company pleaded guilty to violating the Act to Prevent Pollution from Ships for failing to accurately maintain an oil record book that covered up discharges …

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PTO search begins as wave energy developer advances to full scale device

Swansea-based company is developing a flexible ocean energy extraction technology that can harness wave energy, wind energy and combined wind and wave energy at grid scale. All the machines share a common floating platform technology said to have cost and deployment advantages over other floating platform approaches.The company behind the above-mentioned develo[…] Premium content You …

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Red ink for ConocoPhillips on lower oil prices and volumes

U.S. oil major ConocoPhillips recorded a $1 billion loss in the second quarter of this year due to lower oil prices and production curtailments amid COVID-19 impact. ConocoPhillips on Thursday reported second-quarter 2020 earnings of $0.3 billion compared with second-quarter 2019 earnings of $1.6 billion. Excluding special items, second-quarter 2020 adjusted earnings were a loss …

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Floatel to book nearly $400 million in impairment charges

Offshore accommodation provider Floatel International will book impairments of nearly $400 million for the second quarter of the year due to impairments of its vessels made amid challenging market situation. In an update on Thursday, Floatel said it continues to engage in constructive discussions with its key stakeholders on terms for a financial restructuring. The …

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Green light for Equinor to use Maersk rig on Martin Linge field

Norwegian oil major Equinor has received safety consent from the country’s offshore safety watchdog to use the Maersk Intrepid jack-up rig on the Martin Linge field offshore Norway. The Petrolem Safety Authority (PSA) said on Thursday that the Maersk Intrepid would be used for production drilling, completion and intervention on the Martin Linge field. The …

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