Latest news with #offshore
Bloomberg
15 hours ago
- Business
- Bloomberg
Taiwan Dollar Option Trade Slump Lifts Insurers' Hedging Costs
Gyrations in the Taiwanese dollar have dented appetite for trading its derivatives in offshore markets, making it costlier for the island's insurers to hedge their massive dollar assets. Weekly derivatives transactions involving the currency slumped to the lowest since at least 2021 for this time of the year, according to one measure using data from DTCC Data Repository Singapore.
Daily Mail
a day ago
- Health
- Daily Mail
EXCLUSIVE I have one of the 'world's most dangerous ' jobs surrounded by men AND I'm an influencer - I don't care about the sexism
In most jobs a small mistake might result in a slap on the wrist at the very worst. But, there are some careers in which the stakes are far higher and where a minor mishap could have devastating consequences. Leidy Villamil, 30, revealed how a moment of complacency in her field could see her crushed, burned, losing a limb, or even facing a painful demise. As an offshore engineer Ms Villamil's job will often see her working with heavy machinery and high temperatures while stationed thousands of miles from land. She told MailOnline: 'I could maybe be smashed by heavy things or a pipe could slip and my hand could get squashed. 'I could lose a finger or a hand, and at the worst case, there could be a fatality.' Working on an oil rig is one of the most dangerous jobs in the world and has the third highest death rate - with 46 per 100,000 employees losing their lives. 'We have had some cases of injuries and fatalities which have happened when people haven't been aware of themselves while moving loads and have been smashed between loads', Ms Villamil said. As an Offshore engineer Ms Villamil's job will often see her working with heavy machinery and high temperatures while stationed thousands of miles from land 'There have sadly been people who were in the wrong place at the wrong moment and they have ended up being crushed between a container and a wall.' Being in a remote location adds to the 'very high' risk Ms Villamil faces at work as medical attention could be hours away. 'It is dangerous, you have to go in a chopper to a place in the middle of the sea where there is absolutely nothing around,' she said. 'You are working with the source under ground, with high pressure and high temperature, with a volatile fluid. So in terms of danger the risks are very high.' She added how workers must complete specialized training on how to survive terrifying worst case scenarios including a helicopter crash in the water. Ms Villamil became an engineer seven years ago and has worked on rigs in many different countries including the UAE, Namibia, Indonesia, spain and her native Colombia. But, despite being a seasoned professional, there is one perilous part of the job she avoids at all costs. 'In an oil platform, you have something called rotary table which is the place where all the pipes go down into the well. 'This is the most dangerous zone of an oil platform, because you are lifting these things all the time, and you are pretty much under the load. 'You are very exposed. I try to do this as little as I can,' she revealed. Offshore engineers can earn up to £100,000 per year, but Ms Villamil says she doesn't do it for the money but finds the work exciting. However, although she currently enjoys her job, things haven't always been smooth sailing and she revealed one aspect she found 'very challenging' at the beginning. Due to its physically demanding nature the oil and gas industry is heavily male dominated and plagued by sexism. 'It's very common for me to be the only woman among 200 men. There are just a few women in my field,' Ms Villamil said. 'I've experienced sexism many times. I have even had a guy trying to touch me. 'Sometimes men don't take me seriously because I'm smaller, because I try to be kind, because I'm a woman.' Ms Villamil says she used to be affected by sexism but now insists it doesn't bother her. 'At the beginning it was very challenging, but it also helps to develop strength and personality. 'If I can be honest now, I don't mind it at all. I'm perfectly fine with it. I am also a very strong character, so I don't hesitate to use it when I have to.' She also urges other women working offshore to stand up for themselves when experiencing sexism. 'I encourage them not to be afraid to speak up and fight back because we cannot allow this to happen to us', she said. 'We have the same right, the same capacity, the same everything as them (men) but sometimes they just don't catch it.' Ms Villamil says now one of the toughest parts of her job is staying in touch with her partner while she spends months at sea. 'It's really difficult. We make it work somehow, but it's really difficult', she said. 'Internet access in the platform is very challenging. You know, there are some times that we barely can send a WhatsApp message. Not even a voice message.' Ms Villamil's work also often means she is called away during festive seasons and is unable to celebrate special occasions with her family. When this has been the case rig bosses will try and lessen the blow by providing treats and entertainment for the workers. 'For Christmas and New Year's they gave us non alcoholic sparkling wine and non alcoholic beers and we played Bingo,' Ms Villamil said.
Yahoo
3 days ago
- Business
- Yahoo
Sable Offshore Corp. (SOC): A Bull Case Theory
We came across a bullish thesis on Sable Offshore Corp. (SOC) on Welfare Capital Research's Substack. In this article, we will summarize the bulls' thesis on SOC. Sable Offshore Corp. (SOC)'s share was trading at $32.10 as of 23rd May. SOC's trailing and forward P/E were 47.20 and 1670 respectively according to Yahoo Finance. An oil rig pumping station with a clear sky behind it, illustrating the company's wide range of activities in the oil and gas business. Sable Offshore (SOC) delivered a major catalyst with the announcement of a production restart at platform Harmony and the near-completion of onshore pipeline hydrotests, reigniting investor confidence in the stock. Shares surged over 60% within a week, reaching new all-time highs from a previously depressed base. The move prompted a timely reentry by the writer, influenced by a fellow investor who had framed the core bullish thesis effectively. Even after the sharp rally, shares were seen as attractive around $30 due to reduced risk and the potential for strong future capital returns, including a meaningful dividend yield. On the heels of this rally, Sable executed a $290 million equity offering at $29.50, resulting in roughly 10% dilution. However, this was seen as a net positive, especially considering CEO Jim Flores—who owns 20% of the company—participated in the dilution himself, signaling alignment rather than shareholder exploitation. The market reaction was muted, with shares only down about 1% post-offering, reflecting investor approval. The raise boosts Sable's cash position to just under $500 million, providing ample liquidity to scale production and execute its growth strategy. With a $1.5 billion mixed securities shelf filed in April, future capital raises—likely in the form of debt—are expected to refinance $850 million owed to Exxon, potentially on better terms given market support. The author holds a 15% portfolio allocation to SOC at a $24.22 average cost, reinforcing conviction in the name and positioning for significant upside as production ramps and financial optionality increases. Previously, we have covered Sable Offshore Corp. (SOC) in January 2025 wherein we summarized a bullish thesis by Kooky_Lime1793 on r/wallstreetbets. In the reddit post, Sable Offshore (NYSE:SOC) was highlighted as a compelling turnaround story due to its acquisition of the Santa Ynez Unit from ExxonMobil at a steep discount. The user emphasized the asset's massive production potential, with projections of up to 30 million barrels annually and free cash flow of up to $1.65 billion, offering a nearly 20x upside in the best-case scenario. Despite regulatory risks, the author argued that successful production restart and shareholder return initiatives could drive the stock well above $40. Since our last coverage, the stock is up 40.17% as of 26th May. Sable Offshore Corp. (SOC) is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 28 hedge fund portfolios held SOC at the end of the fourth quarter which was 22 in the previous quarter. While we acknowledge the risk and potential of SOC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than SOC but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock. Disclosure: None. This article was originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
4 days ago
- Business
- Yahoo
Shell to Buy TotalEnergies' Stake in Nigerian Oil Field for $510 Million
Shell will buy TotalEnergies' stake in an oil field offshore Nigeria for $510 million, increasing its interest in the country's deep-water Bonga field. Shell said Thursday that it will buy TotalEnergies' 12.5% stake in the oil field by purchasing its portion of the production-sharing contract. In a separate release, TotalEnergies said it was selling the stake for $510 million.
Wall Street Journal
4 days ago
- Business
- Wall Street Journal
Shell to Buy TotalEnergies' Stake in Nigerian Oil Field for $510 Million
Shell SHEL -0.06%decrease; red down pointing triangle will buy TotalEnergies' TTE 0.19%increase; green up pointing triangle stake in an oil field offshore Nigeria for $510 million, increasing its interest in the country's deep-water Bonga field. Shell said Thursday that it will buy TotalEnergies' 12.5% stake in the oil field by purchasing its portion of the production-sharing contract. This will increase its interest in the field to 67.5% from 55%. In a separate release, TotalEnergies said it was selling the stake for $510 million. The agreement comes as Shell seeks to grow its combined integrated gas and upstream total production by 1% a year through 2030. The transaction is subject to regulatory approvals and is expected to be completed before the end of this year, Shell said. Write to Adam Whittaker at
