Big Oil Pockets Near-Record Profits but Spending Restraint Signals Long-Term Doubts
Big Oil is reaping near record cash windfalls from the eight-month-old Iran war, but Western energy producers’ reluctance to ramp up spending reveals persistent doubts about the industry’s long-term outlook.BP, Chevron, Exxon Mobil, Shell and TotalEnergies reported combined net profits of $56 billion in the third quarter, driven by surging oil and gas prices, record-high refining margins and strong trading results.BP posted its highest quarterly profit ever…
Borr Drilling Confirms Fourth Death in Gabon Rig Sinking, One Missing
Borr Drilling has confirmed the recovery of a fourth body following the sinking of its Prospector 5 jack-up rig offshore Gabon, with search operations continuing for one person still missing.The company said on November 2 that the body of a fourth individual had been located during ongoing search and rescue operations, bringing the number of confirmed fatalities to four.All four bodies have been recovered and are being transported to Port Gentil…
Shifting to Neutral: A Different Way to Test a Maritime Case
The maritime industry, like every industry, is litigious. While oftentimes unavoidable, litigation can often be a major drain on company resources, namely time and money. JAMS is one of the premier providers of alternative dispute resolution (ADR) services worldwide, and Maritime Matters: The MarineLink Podcast recently visited with Judge Judith Ramseyer, a retired judge who had a long and distinguished career as a litigator and on the bench…
