Finance News

The Amercian owned fleet is worth $47 billion and currently ranks the 4th most valuable fleet in the world. US shipping interests are focused heavily on the offshore industry, tankers, and container industry.

Industry confidence has increased much faster than the oil price, as two-thirds of senior professionals globally plan to maintain or increase capital spending in 2018. 36% expect to increase investment in R&D and innovation - the highest level recorded in four years. Efficiency remains a priority, however, as half of professionals forecast increased cost control.

“2017 was one of the strongest years in BP’s recent history. We delivered operationally and financially, with very strong earnings in the Downstream, Upstream production up 12%, and our finances rebalanced. And we did all this while maintaining safe and reliable operations.

Rising oil prices have drawn more eyes to the offshore markets. There are signs of green shoots after a period of depressed sentiment that started in late 2014, pushing asset values downwards through 2016. VV's Fixed Age Values for a 5-year old Jack Up Rig has increased 36% from Jan 2017, when a vessel was worth $69.9 million, to $95.14 million today.

Kosmos Energy (NYSE: KOS) (LSE: KOS) announces that it has refinanced its reserve-based lending (RBL) facility. The RBL facility, which previously incorporated only the company’s Ghana assets, now includes the recently acquired producing assets in Equatorial Guinea as well as allowing the company the future flexibility to include the Greater Tortue development post final investment decision.

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