Author: Rigs & Barge World

Phillips 66 said Wednesday it will make its own proposal for board declassification as it warned against a similar proposal by investor Elliott Investment Management LP. Elliott, which has a declared investment of over $2.5 billion in the Texas-based refiner, had said it would put forward a non-binding proposal before Phillips 66’s yearly meeting of shareholders for the company to introduce annual board elections. “Elliott’s proposal requests that the Board adopt a corporate governance policy under which each incumbent director would be required to commit to a one-year term at each annual meeting making all Board seats open annually”, Elliott…

In an EBW Analytics Group report sent to Rigzone on Tuesday by the EBW Analytics Group team, Eli Rubin, an energy analyst at the company, said natural gas bulls are attempting to “hold the line” ahead of the April contract rollover. “The April natural gas contract tested support in the mid-to-high $3.80s Sunday and Monday evenings, but bullish call option holders are attempting to maintain support at the $4.00 strike price ahead of contract options expiration tomorrow,” Rubin noted in the report. “Strengthening weather runs and Henry Hub spot prices rebounding to $4.03 may reinforce support,” Rubin added. In the…

The newly appointed area managing director and president for Canada, Michelle Grose, has previously held senior positions at Unilever, Walmart and Microsoft, among others. Source link

SLB today launched EWC™ electric well control technologies, which reduce capex and opex, while making mission-critical drilling operations safer. Well control technologies — which play a vital role in preventing the uncontrolled release of fluids from the well — have traditionally been powered by hydraulic systems, which encompass a complex network of hoses, valves and actuators. This makes the well control system expensive to install and requires costly routine maintenance over its lifetime. EWC technologies replace hydraulics with a simplified electric power system that not only significantly reduces these costs but also provides real-time data insights and a…

Toru Nishikawa (right), co-founder and chief executive officer of Preferred Networks, and Daisuke Okanohara, co-founder and chief executive researcher, with a Fanuc Corp. robotic arm at their company’s headquarters in Tokyo, Japan, March 16, 2018.Bloomberg | Bloomberg | Getty ImagesPreferred Networks is a little-known name outside of Japan, but the Toyota-backed artificial intelligence unicorn has big plans to use deep learning to fix “real-world” issues — with the end goal of going global. “For the past 10 years, we have been working on using AI to solve real-world problems,” chief executive researcher, Daisuke Okanohara, told CNBC’s “Managing Asia.” The company has ventured…

Oil dipped, halting the longest rally in almost three months, after Ukrainian President Volodymyr Zelenskiy agreed to implement a partial truce, raising expectations that Russian crude will soon flow freely. West Texas Intermediate futures dropped as much as 0.9% before clawing back most of those losses to settle down 0.2% at $69 a barrel. The decline followed Ukraine’s ceasefire declaration and a White House announcement of a nascent Russian agreement to ensure safe navigation in the Black Sea and spare energy infrastructure. A potential truce between Russia and Ukraine is expected to lead to an easing of US and European…

Entrepreneurs entering the construction industry are at a unique crossroads, with sustainability becoming arguably indispensable for the sector. As climate concerns rise and regulations tighten, there is a growing demand for green building practices that prioritize energy efficiency, renewable materials, and reduced waste. By starting a green building company, entrepreneurs can meet this demand while contributing to environmental protection.This shift towards eco-conscious construction responds to escalating environmental concerns, evolving regulations, and growing consumer demand for sustainable living spaces. By focusing on energy efficiency, renewable materials, and the positive effects of sustainability on public health and the environment, new companies can…

AccuWeather hurricane experts are predicting a dynamic and potentially volatile Atlantic hurricane season this year, AccuWeather stated in a media advisory sent to Rigzone by the AccuWeather team on Wednesday. The AccuWeather 2025 Atlantic Hurricane Season Forecast predicts 13-18 named storms this year, with 7-10 of those storms expected to strengthen into hurricanes, the advisory noted, adding that three to five of those storms are predicted to strengthen into major hurricanes. AccuWeather highlighted in the advisory that a major hurricane is a Category 3 hurricane or higher on the Saffir-Simpson Hurricane Wind Scale. Category 3 hurricanes have maximum sustained winds…

Warehouse work comes with a unique set of physical challenges. But during peak seasons, like holiday shopping or events like Prime Day, those demands skyrocket. Orders double, workloads surge, and repetitive motions increase, leading to greater strain on workers. For those managing safety in these high-demand environments, the stakes are clear: reducing injuries while keeping productivity high.This article examines the importance of dynamic ergonomics, a way to adjust workstations, tools, and processes in real time to meet increased demands safely. With flexible and adaptive ergonomic strategies, companies can protect their workers from musculoskeletal strains, even when demand is high. Read…

In an oil and gas report sent to Rigzone late Monday by the Macquarie team, Macquarie strategists revealed that they are forecasting that U.S. crude inventories will be down by 2.8 million barrels for the week ending March 21. “This follows a 1.7 million barrel build for the week ending March 14, with the crude balance realizing moderately looser than our expectations amidst strong implied supply,” the strategists noted in the report. “For this week’s crude balance, from refineries, we model crude runs down slightly (-0.1 million barrels per day) following a soft print last week,” they added. “Among net…