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(Photo: PGS)

TGS Makes Surprise $600 Mln Offer for Part of Rival PGS

made an unsolicited cash offer of $600 million for a key part of rival PGS.If successful, the offer to buy PGS's so-called multi-client library would significantly broaden TGS's worldwide geophysical data offering, the company said.PGS did not immediately respond to a request for comment from Reuters.In addition to spending cash from its current holding, TGS said it will borrow $200 million and also conduct an equity issue to pay for the transaction.While TGS' strategy has been one of renting the oceangoing vessels needed for the process of acquiring seismic data, PGS has had an integrated

The white microbial mats seen here are telltale signs of areas where methane may be released from underground methane deposits. Photo courtesy Andrew Thurber Oregon State University.

Scientists Discover First Methane Seep in Antarctic Sea Floor

that global warming could cause permafrost to thaw and release methane long trapped within.However, if the methane reaches the atmosphere it could exacerbate global warming because methane is a more potent greenhouse gas than carbon dioxide. Atmospheric levels of methane have been rising https://www.reuters.com/article/us-climate-change-methane/global-methane-emissions-rising-due-to-oil-and-gas-agriculture-studies-idUSKCN24F2X8 due to human activities including agriculture and oil and gas drilling.Thurber noted that the microbes found near the Antarctic seep actually help keep methane out of the atmosphere

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Mediterranean Marine Life Flourishes During Lockdown

crowd a forest of gorgonians, or sea fans and corals.“We were able to ascertain a significant improvement in the transparency of the waters and a significant reduction in suspended material,” Lieutenant Alessandro Mino, commander of the coastguard diving unit of the Campania region, told Reuters, speaking from a boat off the coast of Lazio, near Rome.Even before the full results of the study are published in late July, improvements have been tangible.A pod of sperm whales was spotted in the blue waters of the Sicilian sea near the port of Milazzo and dolphins replaced container ships in

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Map of World's Seafloor Takes Shape Despite Crisis

only 6% when the initiative began in 2017.“Over the next year, we anticipate similar levels of data contributions through donations of archive material and, as COVID restrictions abate, new data from surveys, ships transits and crowd sourcing,” project director Jamie McMichael-Phillips told Reuters in comments to coincide with World Hydrography Day.Data used includes contributions from governments, academia and commercial sources such as ships. These are pulled together by experts at various regional centres around the world in an initiative estimated to cost between $3 billion and $5 billion

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Indonesia Processing Requests for Deep-sea Mining Waste Disposal

of Maritime and Investment Affairs, told a virtual media briefing.Harita Group is building a high-pressure acid leaching plant on Obi Island to extract battery-grade chemicals from nickel ore, and China’s Tsingshan Group, GEM Co Ltd and partners are doing likewise in Morowali on Sulawesi Island.Reuters could not reach Tsingshan or GEM for comment on Sunday. Calls to Harita went unanswered.Burhanuddin said provincial governors have issued permits, dependent on the national government approving the governors’ requests to revise their spatial planning jurisdictions to include deep-sea pipes

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Stripe Puts $1 Mln Toward Carbon-removal Projects

say there is no way to limit temperature increases to those in the global Paris agreement without massive carbon removal on top of emission reduction.“The Intergovernmental Panel on Climate Change says this thing is very important, and yet nobody is commercially funding this,” Collison told Reuters.Some environmentalists have faulted alternative carbon-removal efforts as a distraction from emission cuts.Though he had not reviewed Stripe’s projects, Carroll Muffett of the nonprofit Center for International Environmental Law warned that direct air capture consumes too much energy to be

On April 9, 2020, "S43" as the third of four HDW Class 209/1400mod submarines was officially handed over by thyssenkrupp Marine Systems to the Navy of the Arab Republic of Egypt. (Photo: © thyssenkrupp AG, https://www.thyssenkrupp-marinesystems.com)

Thyssenkrupp in Talks About Possible Warship Unit Merger

market environment, with the creation of a national champion one possible outcome.The tweet followed a report by public sector broadcaster NDR which said Thyssenkrupp was sounding out domestic rivals German Naval Yards (GNYK) and Luerssen.A Thyssenkrupp spokesman said in response to an enquiry from Reuters, "we have always said that we are open for talks about possible consolidation scenarios if these are economically sensible and politically supported".However, Thyssenkrupp has also said TKMS could be sold as part of a wider restructuring of the steel and engineering group, which is struggling

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As Oil Crisis Deepens, Hedge Funds Sense a Turnaround

coronavirus and lockdowns will continue to weigh heavily on oil prices for many months.But the industry appears to have reached crisis point last week, with overwhelming commercial and political pressure to reduce output rapidly to prevent storage becoming full and a collapse in prices towards zero.(Reuters; editing by Barbara Lewis

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U.S. to send envoy to Saudi Arabia to Stabilize Oil Prices

said on Twitter that he spoke with OPEC Secretary General Mohammad Barkindo about an international deal "to ensure economic stability as we recover from" the coronavirus outbreak. Sitton said Barkindo was "kind enough to invite me to the next OPEC meeting in June."Barkindo told Reuters that he and Sitton discussed their "perspective on current developments, and the possibility of future cooperation" in a teleconference. Barkindo and OPEC ministers have, in the past, met with shale-industry executives at annual conferences.A senior State Department official said the federal

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