Stories

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Aker Solutions to Supply Subsea Production System for Mero 1

October 5, 2018

Aker Solutions said it has secured an order from Petrobras to provide a subsea production system and related services for the Mero 1 project, the first full production project within the major Mero field development, one of the largest oil discoveries in Brazil's pre-salt area.

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Aker Solutions to Provide Brownfield Services for BP in Angola

October 4, 2018

Aker Solutions has been awarded a five-year agreement to supply brownfield modifications, maintenance and operations support for BP's Greater Plutonio and PSVM fields offshore Angola. The work scope covers the supply of engineering, procurement…

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Norway's Goliat Oilfield to Restart by Friday

October 4, 2018

Oil production at Eni's Arctic Goliat field off the coast of Norway will restart by Friday following maintenance, the company told Reuters on Thursday. The restart had originally been planned for Oct. 1, but Eni extended the outage to carry…

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IEA boss urges oil producers to ease supply concerns

October 4, 2018

Major oil producers must take "the right steps" to ease supply concerns that have lifted crude prices to a four year-high, the head of the International Energy Agency told Reuters on Thursday. "It is now high time for all the players, especially those key producers and oil exporters…

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IMA Completes 12-month Study of the Floating Liquefaction and Regasification Market

October 4, 2018

International Maritime Associates has just completed a 12-month study of the global market for floating gas liquefaction plants and floating LNG regasification terminals. The 150+ page study, published by World Energy Reports , is the most detailed analysis yet made of this growing business sector.

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FSU Delivered to Bahrain LNG

October 3, 2018

Teekay LNG’s first Floating Storage Unit (FSU) has been successfully delivered to charterer Bahrain LNG. The vessel delivered from the yard at the end of August, before going on hire on 19 September, 2018. The vessel will be used to support…

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Petrobras Test Well at Mero Field Reached 58,000 BPD

October 3, 2018

Oil company Petróleo Brasileiro SA, or Petrobras, said on Wednesday it finished a long-term test at the Mero field in the Libra pre-salt area with positive results. The Brazilian company said in a statement that the well used for the test in Mero reached an average production of 58…

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Chevron Extends North Sea Contract with Petrofac

October 3, 2018

Petrofac’s Engineering and Production Services (EPS) division has secured a 12-month engineering services contract extension from Chevron North Sea Limited. The agreement, which has been held by Petrofac since 2014, commenced on September 30.

Baker Hughes to Bid for Petrobras Production-sharing Contract

October 3, 2018

General Electric Co's unit Baker Hughes is preparing an offer for a production-sharing deal with Brazil's Petrobras, a Baker Hughes executive said on Tuesday, as the state-run oil company seeks creative ways to boost output from mature fields.

Glencore Mulls Integrated LNG Project in Philippines

October 1, 2018

Mining and trading giant Glencore is mulling an integrated liquefied natural gas (LNG) import project in the Philippines, a source familiar with the matter said. The project would be for a Floating Storage Regasification Unit (FSRU) to import gas directly to a power plant in the country.

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Equinor Acquires 40% Stake in Rosebank Project

October 1, 2018

Equinor has signed an agreement to acquire Chevron’s 40 percent operated interest in the Rosebank project, one of the largest undeveloped fields on the U.K. Continental Shelf (UKCS). The parties did not disclose the commercial terms of the agreement.

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Equinor Eyes Chevron's Stake in Rosebank Field

September 28, 2018

Norway's Equinor is interested in buying Chevron's stake in Rosebank, an oil and gas field in the British part of the North Sea, two sources close to the process told Reuters. Chevron on Wednesday said that it had received interest from a potential…

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Petrobras to Pay $853 Mln US Fine in Car Wash Probe

September 27, 2018

Petróleo Brasileiro SA will pay an $853.2 million fine to settle U.S. criminal charges the Brazilian state-run oil company bribed politicians and then sought to conceal the payments, the Justice Department said on Thursday. The settlement with U.S.

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Petrobras to Resume Building Its Own Platforms

September 27, 2018

Brazil's Petroleo Brasileiro SA will build its own oil platforms again from 2023, regardless of who wins the presidential election next month, an executive at the state-run oil company said. Petrobras' 2019-2023 business plan, set to be released in December…

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Chevron Receives Interest in Major North Sea Field Stake

September 26, 2018

U.S. oil group Chevron has a potential buyer for its stake in one of the UK North Sea's biggest oil and gas developments, a company spokeswoman said on Wednesday. The sale of its 40 percent stake in the Rosebank project would mark Chevron's…

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Shell Sees Peak Output for Brazil's Lula Field in 2020, 2021

September 26, 2018

Brazil's most productive field, the Lula, located in the offshore Santos basin, should hit peak production in 2020 or 2021, after reaching 1 million barrels of oil equivalent per day next year, an executive at Royal Dutch Shell said on Wednesday.

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Total Sees Cash Flow, Output Boost from Deepwater Projects

September 25, 2018

Oil and gas major Total said on Tuesday it expected deepwater oil and gas operations to make a strong contribution to its output and cash flow thanks to major developments in the West Africa's Gulf of Guinea region, Brazil and U.S. Gulf area.

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Petrobras Oil, Gas Output Falls in August

September 25, 2018

Brazil's state-run oil company Petroleo Brasileiro SA said its oil and gas production in August totaled 2.47 million barrels of oil equivalent per day, attributing the 5.1 percent decline from the previous month to closures for maintenance.

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Guyana Puts Oil Auctions on Hold

September 25, 2018

Guyana has put planned oil auctions on hold as the impoverished South American country works to establish a Department of Energy to oversee the energy boom, Minister of State Joseph Harmon said on Monday. Since 1999, Guyana has awarded a group…

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Big Oil Readies Brazil Offshore Bets

September 24, 2018

Exxon Mobil Corp , Royal Dutch Shell Plc and other companies will gather on Friday in possibly their last crack at Brazil's coveted offshore oil for another four years, as a wide-open election spurs fears about barriers to foreign investment.

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Shell in Talks to Sell $1.3 Bln of Gulf Coast Assets

September 21, 2018

Royal Dutch Shell Plc is in talks to sell its assets in a Gulf of Mexico oilfield to Focus Oil to pay for its takeover of BG Group Plc, Bloomberg reported on Thursday, citing people familiar with matter. The deal could value Shell's stake in the Caesar Tonga field at about $1.3 billion…

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