Schlumberger, Subsea 7 Mull Oil Services JV
subsea market." Shares in Subsea 7 were up 5.3 percent at 1053 GMT. It was the top performer in the European oil and gas index and the second-best performer of the pan-European index. "Speculative appeal, next move could be M&A between the two groups," said Natixis analyst Baptiste Lebacq. Subsea 7 top owner, Norwegian billionaire Kristian Siem, has long called for consolidation, saying it was the "way to go" to cope with drastic cost cuts from oil companies. (Editing by Subhranshu Sahu and Edmund Blair
Technip Cuts Unit Margin Goal, Cites Russia Sanctions Risk
export project in Siberia owned by Russia's Novatek , French oil company Total and China's CNPC. The deal boosted the group's order backlog to 19.9 billion euros ($26.76 billion) at end-June, from 14.9 billion a year earlier. "Yamal LNG may be affected by the geopolitical crisis," said Natixis analyst Alain Parent, who has a "neutral" recommendation on the stock. "The cannibalistic Yamal project is monopolising engineering resources that are no longer available for other contracts." The European Commission said on Wednesday that the European Union should not give
Total Moves Ahead Offshore Angola
crude carriers (VLCCs) instead of building them from scratch, he added. Using the converted VLCCs and other less bespoke equipment could save $2 billion. "Total is known to see too big normally, there's a change in the way they operate," said Julien Laurent, an analyst for Natixis in Paris. "...Production will reach a plateau less quickly, the curve will be flatter, but will last longer." Total is saving another $1 billion by cutting the work hours done on the project locally, because rates are more expensive in Angola than elsewhere. "Globally
EDHEC-Risk Institute Welcomes Eight New Members
and contents of projects deriving from the expertise of the institute, thereby ensuring that graduate and executive programmes remain at the forefront of developments in the marketplace. The eight new members are as follows: Jacques Beyssade, Chief Risk Officer, Natixis Suzanne Bishopric, Director, Investment Management Division, United Nations Joint Staff Pension Fund Sally Bridgeland, Chief Executive Officer, BP Pension Trustees Nicolas Gaussel, Chief Investment Officer, Lyxor Asset Management
February 2024
