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Norwegian Firm Nets Anna Nery FPSO Topside Modules Job

May 11, 2020

Norwegian offshore EPC contractor Aragon has won a contract to deliver topside modules for Malaysia-based Yinson's Anna Nery FPSO that will produce oil from Petrobras' Marlim field in Brazil. The Bergen-based company, part of Singapore's SembMarine…

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Petrobras' Cash Burn could Reach $1B a Month

May 11, 2020

Brazilian oil giant Petrobras said on Friday that its cash burn could reach $1 billion a month in periods of extreme stress and volatility, noting the current level of uncertainty in being able to accurately predict spending. The state-owned firm…

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Ghana Instructs Eni and Local Producer to Combine Oil Fields

May 8, 2020

Ghana has directed Eni SpA and Springfield E&P to begin talks to combine their adjacent oil and gas fields, according to a letter seen by Reuters. The April 9 letter from Energy Minister John-Peter Amewu to the two companies says seismic data indicates that Eni's Sankofa offshore field…

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Guyana's Liza Phase 2 on Track for First Oil in 2022

May 8, 2020

Liza Unity, an under-construction FPSO that will be Guyana's second offshore facility in production, remains on schedule for first oil in 2022, Hess Corp. said Thursday. Guyana became an oil-producing nation in December 2019, when Exxon brought online the Liza Destiny FPSO.

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Euronav Sells 2005-Built VLCC for $38M

May 8, 2020

Tanker operator has sold its 2005-built Very Large Crude Carrier (VLCC) TI Hellas for $38.1 million. Euronav, based in Belgium, said Friday that a capital gain of around $1.6 million will be recorded in the current quarter from the sale of the…

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New CEO for Aker Energy

May 8, 2020

Aker Energy, a Norwegian oil company focused on Ghana's offshore resources, has appointed a new CEO. Aker ASA, Aker Energy's parent company, said Friday in its first-quarter report that Håvard Garseth took over as Aker Energy's CEO in April.

Brazil Oil Production Rose in March Despite Pandemic

May 4, 2020

Brazil produced 2.973 million barrels per day of oil in March, up 0.1% from February and up 16.1% from the same month a year before, national oil regulator ANP said on Monday. The figures suggest that production cuts announced at the end of…

Guyana Has No Plans to Cut Crude Output

May 4, 2020

Guyana has no plans to cut crude output despite a plunge in oil prices, the government's top energy official said on Monday, adding that shutting down production could prove costly and harm future output. Mark Bynoe, the director of the Department of Energy…

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Woodside Watching Supermajors' Woes for Opportunities

May 1, 2020

Woodside Petroleum is keeping a close eye out for assets that might come up for grabs from the oil supermajors amid the oil market rout, seeing itself in a position to bid, Chief Executive Peter Coleman said on Friday. The head of Australia's top independent gas producer said…

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Yinson Welcomes Sumitomo as Partner in Brazil FPSO Project

April 28, 2020

Malaysian FPSO supplier Yinson has signed a deal with Japan's Sumitomo for the latter's participation in the Marlim FPSO project. Yinson said Thursday that the two companies concluded an agreement for their participation in the charter, operations…

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Short-Term Extension for BW Offshore FPSO Ahead of Lay-Up

April 28, 2020

FPSO leasing company BW Offshore has secured a short-term contract extension with Petrobras for the floating production storage and offloading unit BW Cidade de Sao Vicente. "BW Offshore has received a notice from Petrobras that they exercise…

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Petrobras Reverses Oil Output Cuts as Fuel Demand Beats Expectations

April 28, 2020

Brazilian state-run oil firm Petrobras has reversed most of its previously announced production cuts due to higher-than-expected demand for some fuels, it said on Monday, a surprising turnaround that may be tied to an aggressive bet on bunker fuel.

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Equatorial Guinea: 30 FPSO Workers Test Positive for Coronavirus

April 27, 2020

Thirty workers at an offshore oil platform in Equatorial Guinea, operated by ExxonMobil have tested positive for the new coronavirus, two sources close to the ministry told Reuters, one of the largest reported clusters in the sector so far.

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KrisEnergy Sues Rubicon

April 27, 2020

KrisEnergy, a Southeast Asia-focused oil company, has started proceedings against FPSO owner Rubicon at the High Court of Justice Business and Property Courts of England and Wales. The oil company is reacting to a claim recently made by Rubicon…

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Johan Castberg FPSO Turret Mooring System Complete

April 27, 2020

Dutch company SBM Offshore has announced the sailaway of the last two modules for the Turret Mooring System built for Equinor's Johan Castberg FPSO which will, once completed, be deployed in the Barents Sea, offshore Norway. The modules will…

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Total: 14 Coronavirus Cases at Congo Oil Operations

April 27, 2020

French energy major Total said on Sunday that 14 workers including two of its staff have tested positive for the new coronavirus at its sites in Congo Republic, but output at the 190,000 barrels per day operations have not been affected. Congo…

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Angola Says Producer Cuts Insufficient, More Action Needed

April 24, 2020

Angola sees an oil production curb by OPEC, its allies and other top producers as insufficient to balance global markets, state news agency ANGOP quoted resources and petroleum minister Diamantino Azevedo as saying on Friday. "It is up to everyone to understand that…

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i3 Energy Seeks More Time from Noteholders

April 24, 2020

i3 Energy, a London-listed company focused on developing the Liberator field in the UK North Sea, has started talks with noteholders to seek waiver on previously agreed terms. In a statement on Friday, the company reminded that on 8 November 2019…

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Oil Storage Crunch May Affect Guyana Crude Shipments

April 24, 2020

Oil shipments from nascent crude producer Guyana's prolific Liza field could be affected by a growing storage glut that has contributed to plunging global crude prices, the country's director of energy said. A consortium led by Exxon Mobil began…

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30+ Companies Compete for Guyana Crude Trading Deal

April 22, 2020

More than 30 companies, including commodities traders like Gunvor and Vitol as well as units of oil majors like Exxon Mobil and Royal Dutch Shell, submitted expressions of interest for a contract to market the Guyanese government's share of the country's crude, the government said on Tuesday.

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Oil Traders Vie for Guyana Marketing Deal Despite Price Tumble

April 21, 2020

Guyana has attracted interest from several oil trading companies for a contract to serve as the marketing agent for the government's share of the country's crude, despite a plunge in global prices, four people familiar with the matter said.

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