Petro Media News, a media and communications company with a focus on the oil and gas industry, has reportedly announced bankruptcy in the Stavanger District Court.
The company, through its website Petro.no, delivers news from the oil and gas industry on the Norwegian continental shelf including contract awards, drilling of wells, and industrial policy.
According to Dagsavisen, a daily newspaper in Oslo, Norway, the court decided that the company’s financial difficulties were not temporary, and therefore the company fulfils the conditions to file for bankruptcy. The company’s business will remain ongoing.
The newspaper further reported that Petro Media has a debt of NOK 1.2 million, and the assets valued at about NOK 200,000.
Petro Media News’ newsletter is sent to more than 12,000 subscribers, two times a week.
Offshore Energy Today Staff