Subsea 7 Raises Revenue Outlook
2018," Chief Executive Jean Cahuzac said in a statement, adding that demand for equipment such as subsea umbilicals, risers and flowlines (SURF) was increasing."We continue to experience a gradual volume-led recovery in integrated and stand-alone SURF projects," Cahuzac said.Analysts in a Reuters poll had expected Subsea 7's revenue to decline by 6 percent this year to $3.83 billion.Earnings before interest, tax, depreciation and amortization (EBITDA) excluding one-offs rose to $111 million from $103 million a year earlier, but missed the $129 million expected by analysts polled by Reuters
Aker Solutions Raises 2019 Forecasts
, with its underlying core profit margin also rising year on year.It had previously expected only a slight revenue gain and flat margins.Order intake for the first three months of the year amounted to 5.5 billion Norwegian crowns ($635.51 million), above an average forecast of 4.9 billion crowns in a Reuters poll of analysts.Earnings before interest, tax, depreciation and amortization (EBITDA) excluding one-offs rose to 636 million crowns from 384 million crowns a year earlier, beating a forecast of 615 million crowns.Shares in Aker Solutions rose 2.8 percent by 0942 GMT.The company is currently bidding
Subsea 7 Profit Beats Forecast
profits on Thursday and announced a special dividend payment as well as an extension of its share buybacks.The Oslo-listed offshore services provider's adjusted earnings before interest, tax, depreciation and amortization fell 7.4 percent year-on-year to $163 million, while analysts in a Reuters poll on average predicted a $146 million profit."A new two-year $200 million share repurchase program has been announced, enabled by our strong financial and liquidity position and improving market outlook," Subsea 7 said in a statement.Pending owners' approval, the company will also
Seized: 3,300 Rare Pig-Nosed Turtles
said. Apart from being sold as live pets, conservationists say the pig-nosed turtle is often hunted for meat consumption and for use in traditional medicines in some Asian countries.Malaysia is considered a major transit point for the illegal trafficking of endangered species to other parts of Asia.(Reuters reporting by Rozanna Latiff; editing by Darren Schuettler
Regulator: Expand Pipeline, Protect Killer Whales
, which the government bought last year from Kinder Morgan Canada to ensure it gets built.The move came after Canada's Federal Court of Appeal overturned the Liberal government's 2016 approval to expand the pipeline, which runs from Alberta's oil heartland to the British Columbia coast. (Reuters reporting by Rod Nickel in Winnipeg, Manitoba; editing by Jonathan Oatis
Boat Made of Flip-flops Sails for Cleaner Seas
people have started local businesses, like hotels along the shores, and contributed to a huge mess - as you can see, the place is littered with plastic bottles," he added.The Flipflopi, built from 10 tonnes of plastic waste, was first launched late last year.Co-founder Ben Morison told the Thomson Reuters Foundation he began working on the project in 2016 "to transmit the message about the impact that plastic is having on marine ecosystems, how this affects us, and most important of all, what we can do about it".Global challengeResearchers estimate the world has produced more than 8.3 billion
TGS Offers Higher-than-expected Dividend
.Seismic surveyors are a bellwether of oil companies' appetite for conducting exploration for oil and gas deposits.TGS' earnings before interest and taxes (EBIT) rose to $68 million in the last quarter of 2018, from $51.6 million a year ago, but lagging market expectations of $77.8 million in a Reuters poll."While there continues to be some uncertainty related to important factors such as U.S. onshore production, oil price and E&P (exploration and production) budgets, we are confident that the positive trend from 2018 will continue this year," TGS said in a statement.The company
'Frog's Leg' Proves Bountiful for Aker BP
based on estimates of how much oil and gas is located on each side.Aker BP is operator of the license with a 60 percent stake, while Sweden's Lundin Petroleum and Eni's Vaar Energi each hold 20 percent.Aker BP is 40 percent owned by Norway's Aker ASA and 30 percent by BP Plc. (Reuters reporting by Terje Solsvik; Editing by Shreejay Sinha
Norway Supreme Court Hears Snow Crab Case with Implication for Oil
be harder for Oslo to secure its claim over potential oil and gas resources."The question of the snow crab is a proxy for oil. Because what is valid for the snow crab is valid for the oil industry," Oeystein Jensen, a senior research fellow in law at the Fridtjof Nansen Institute in Oslo, told Reuters.The verdict is expected in three to four weeks.The issue arises out of a conviction for illegal fishing of an EU fishing vessel, the Senator, in the waters off the remote Arctic Svalbard archipelago.Norway, which is not a member of the EU, argued successfully in a lower court that the European Commission
The Oceans Are Warming Faster than Expected
U.S. fossil fuels, plans to pull out of the pact in 2020.Data due for publication next week will show "2018 was the warmest year on record for the global ocean, surpassing 2017," said lead author Lijing Cheng, of the Institute of Atmospheric Physics at the Chinese Academy of Sciences.He told Reuters that records for ocean warming had been broken almost yearly since 2000.Overall, temperatures in the ocean down to 2,000 metres rose about 0.1 degree Celsius (0.18F) from 1971-2010, he said. The 2013 U.N. assessment estimated slower rates of heat uptake but did not give a single comparable number
Scientist Pool Data to Create the $3B Ocean Map
a map?" asked Larry Mayer, director of the U.S.-based Center for Coastal and Ocean Mapping, a research body that trains hydrographers and develops tools for mapping."We depend on having that knowledge of what's around us - and the same is true for the ocean," he told the Thomson Reuters Foundation.With their deep craters and mountain ranges, the contours of the earth beneath the waves are both vast and largely unknown.But a huge mapping effort is underway to change that.The U.N.-backed project, called Seabed 2030, is urging countries and companies to pool data to create a map of
