UK's Wood Group Ropes in Rolls-Royce exec as New CFO
officer, effective April 2024.Balan has been the CFO at the aero-engineer's Civil Aerospace business for two years and will replace John Wood's long-term finance boss David Kemp, who announced his retirement in August. Balan previously held executive financial roles at oil major Shell for fourteen years, before joining Rolls Royce.The appointment comes several months after buyout firm Apollo Global Management dropped its plan to buy the London-listed John Wood after multiple attempts without citing any reasons. Outgoing CFO, David Kemp, whose retirement date is yet to be
Wood Group Raises Profit Outlook on Contract Wins; CFO to Retire
British oilfield services and engineering firm John Wood Group raised its expectations for annual adjusted core profit on Tuesday, betting on contract wins in its energy and materials business to sustain growth.Wood scored major contract wins worth millions of dollars from Shell and Brunei Shell Petroleum (BSP) among others in the first half of the year.The company closed its order book at $6 billion in the six-month period ended June 30, which is 5% above December-end levels.Wood expects adjusted core profit for the full-year to be above its previous expectations while revenue is seen to be
Talos Names Maiworm CFO
serving in a key role as Vice President – Finance, Investor Relations and Treasurer. He brings over 20 years of energy and finance experience to the role of CFO, previously serving as an energy investment banker at Deutsche Bank, as a manager in the Mergers & Acquisitions group of Royal Dutch Shell, in various accounting and finance roles at Transocean, and beginning his career in the audit practice at Deloitte & Touche. Maiworm earned a B.S. in Business Administration from the Pontificia Universidade Catolica do Rio de Janeiro and an M.B.A. from the McCombs School of Business at the University
Mayflower Wind Names Slingsby CEO
commercial and business development in the U.S. offshore wind energy sector. “Mayflower Wind has successfully built a leadership position in the offshore wind market, and we will continue to develop projects and build new opportunities for our communities.”Mayflower Wind, a joint venture of Shell New Energies US LLC and Ocean Winds North America formed in 2019, is developing an offshore wind lease area with the potential to supply 2.4 gigawatts (GW) of energy to electricity customers in New England. Pending final investment decision (FID) Mayflower expects to deliver the first
Silverstream Names Derodra CFO
across the global maritime industry. The company’s air lubrication technology, the Silverstream System, delivers 5-10% net fuel and emissions savings for oceangoing vessels, by reducing frictional resistance between the hull and the water.With systems onboard ships owned by the likes of MSC, Shell, Grimaldi, Carnival, Vale and many others, Silverstream’s patented solution now surpasses 100 contracted vessels and a cumulative order intake of £125 million.Derodra said, “The journey to help reduce global emissions is urgent and quickly gathering pace, and we can see the impact
CEO in Focus: Allard Castelein, Port of Rotterdam
that “can collect the carbon, deliver it to the fence, and take it through the port to an offshore depleted gas field where it is stored for eternity.”The second pillar is about the energy system, focused mainly on electrification and hydrogen. A few months ago the port announced that Shell will build the largest (200MW) electrolyzer in the world, with the expectation that by 2030 it will have 1.2 gigawatts of electrolyzed capacity installed. The plan for this extends far beyond the port’s walls, extending the hydrogen infrastructure to the southern parts of the Netherlands and
CSignum Promotes Reyes to Chief Commercial Officer
, Conway MacKenzie. Reyes worked at Wood Mackenzie, a leading energy research and consultancy firm for ten years, working in consulting, offshore research and new product development roles focused on data analysis, economic models and global market trends. She began her career with six years at Shell Chemical Company, providing her foundation of the entire energy value chain.“I look forward to representing the interests of our customers to ensure our subsea wireless solutions meet their needs,” Reyes said. “Armed with dynamic readings from CSignum communication, monitoring and
Svitzer AMEA Appoints Benjamin-Lea as COO
joins Svitzer from a position as Logistics Director with AMALAA in Saudi Arabia where she spearheaded construction logistics as a member of the delivery senior leadership team. Before joining AMALAA, she held various global roles within logistics and operations in companies such as SNC Lavalin, Shell and TransOceanic.With a fleet of more than 85 vessels operating in seven ports and 11 terminals across 12 countries in the region, Svitzer is a leading towage provider in the AMEA region
Ex-Bibby Offshore Man Takes Helm of Decom North Sea
experience includes some of the sector’s highest profile campaigns; from [..] Phillips Maureen platform re-float project in 2001 through to 2015’s ConocoPhillips MacCulloch and 2017’s CNR Murchison, with international experience in the Gulf of Mexico decommissioning for Shell Pipeline (Shell Oil US) in the same year," DNS added.Moonie said: "I join Decom North Sea at what continues to be an extraordinary time for society and a challenging time to be in business. I believe that the next five years are critical to our industry and that Decom North Sea has a key
Exxon to Lay Off 300 Workers in Singapore
72-year-old Altona refinery in Australia and convert it to an import terminal. The top U.S. oil producer, once America's most valuable company, posted a historic annual loss for 2020 after the coronavirus pandemic slashed energy demand.Exxon's announcement also follows European major Royal Dutch Shell's decision in November to cut 500 staff and halve its crude processing capacity in Singapore as part of a global strategy to reduce carbon emissions.Exxon Mobil's Singapore complex has the capacity to refine about 592,000 barrels per day of oil and includes its biggest integrated petrochemical
Over 300 Companies Sign 'Neptune Declaration' to Ease Crew Change Crisis
industry officials say many sailors are at breaking point and many have been at sea for longer than an 11-month limit laid out in a maritime labor convention.The companies, which include shipping groups such as A.P. Moller Maersk, miners Anglo American and Rio Tinto, oil majors BP and Royal Dutch Shell as well as trading companies Cargill, Trafigura and Vitol, will boost information sharing as signatories of the “Neptune Declaration” initiative.“All of us have a duty of care to seafarers,” said Kit Kernon, global head of shipping at Vitol.“Their wellbeing is essential
Shell UK Gender Pay Gap Narrows Slightly in 2020
Royal Dutch Shell's female employees in Britain earned 18% less on average than their male colleagues in 2020, with the pay gap slightly narrowing from the previous year.In its annual UK diversity pay gap report, Shell also published for the first time data on ethnicity which revealed that the average pay and bonuses for Black, Asian and Minority Ethnic (BAME) employees was 8.5% lower than non-BAME staff.Women represented 34% of the energy company's 6,000-strong British workforce in 2020, mostly due to the prevalence of men on offshore oil and gas facilities. BAME employees made up 21% of the
Coronavirus, Consolidation Taking Toll On Energy Jobs
Oil and gas companies worldwide are taking an axe to their employment rolls, shedding workers to survive what is expected to be a prolonged stretch of weak demand.Exxon Mobil Corp said it will cut its workforce by 15%, or about 14,000 people, along with oil majors Chevron Corp and Royal Dutch Shell Plc.All told, more than 400,000 oil and gas sector jobs have been cut this year, according to Rystad Energy, with about half of those in the United States, where several big exploration companies and most large oil service companies are headquartered.Coronavirus has devastated swathes of the global economy
Lundin Energy Names New Chief Operating Officer
leadership positions with Lundin Petroleum AB. Following the spin out of IPC, Fitzgerald held the VP Operations and subsequently COO positions within IPC, responsible for operations and investments across their international portfolio. Prior to joining Lundin and IPC, Fitzgerald worked for Shell’s upstream business in the UK in a range of asset and operational leadership positions. At IPC, Fitzerald's COO position will be taken over by William Lundin.Commenting on Fitzgerald's appointment, Alex Schneiter, President and CEO of Lundin Energy, set to leave in a few months, said:
Crew Welfare Innovation Challenge Launched
Challenge for start-ups and SMEs will fund and test application that helps improve the safety of deck operations, minimizes fatigue on board, reduces administration on board and improves overall crew welfare.Mobile satellite communications provider Inmarsat has joined forces with Shell Shipping and Maritime and maritime digital consultancy Thetius to launch a new ‘Open Innovation Challenge’ for start-ups and small and medium sized enterprises (SMEs). The challenge aims to identify technology that can benefit crew safety, health and wellbeing at sea at a moment when COVID-19 has exposed the
Report: Equinor Shortlists Four Candidates to Succeed CEO Eldar Saetre
Equinor's spokesman said.Opedal declined to comment. Bacher was not immediately reachable for comment. Reuters was not able to contact Rummelhoff and Reitan for comment.Saetre, 64, has led Equinor since 2014 when his predecessor Helge Lund left to take the top job at BG Group, now part of Royal Dutch Shell.Saetre reached the retirement age of 62 in 2018, but the company's board asked him to stay for up to five years.Saetre changed the majority state-owned company's name from Statoil to Equinor in 2018 and launched its transformation from an oil and gas firm into a "broad energy" company
Shell Taps Danos for U.S. Gulf of Mexico Workforce
U.S. oilfield services provider Danos has won a contract with Shell to provide a production workforce across Shell production assets in the Gulf of Mexico.The assets to be covered by the agreement include Appomattox, Auger, Enchilada, Salsa, Mars, Ursa, Olympus, Perdido and Stones.While Danos informed of the Shell deal on Thursday, June 25, the three-year contract began on May 1.The deal will see 144 Danos personnel employed in a variety of positions including crane operations, control room and process operators, electricians, electronic technicians, instrument technicians, logistics, and onsite
