House Energy and Commerce Committee approves pipeline safety bill

The US House Energy and Commerce Committee unanimously passed HR 5050, the pipeline safety reauthorization bill, on Apr. 27. The action followed the Transportation and Infrastructure Committee’s approval of its own pipeline safety bill, HR 4937, a week earlier. Source: News


Fitch: Depressed drillship price reported

Ocean Rig UDW Inc.’s recently announced acquisition of a deepwater drillship at less than 10% of its newbuild cost provides yet another signal of the dim market outlook for offshore drillers, Fitch Ratings said Apr. 27, saying the sale established a new offshore rig valuation low. Source: News


Total records first-quarter net income of $1.61 billion

Total SA reported first-quarter adjusted net income of $1.61 billion, up from a $1.63-billion net loss in fourth-quarter 2015 but down from earnings of $2.66 billion in first-quarter 2015. Source: News


Hess takes larger first-quarter loss

Hess Corp. reported a first-quarter net loss of $509 million compared with a net loss of $389 million during first-quarter 2015. Source: News