Stories

Offshore Oil: Tullow eyes Ghana Assets

May 31, 2018

Tullow Oil is interested in new oil blocks off Ghana's coast as part of the British explorer's plans to consolidate its operations in the West African nation, Chief Executive Paul McDade said. Tullow is leading two operations offshore Ghana…

Petrobras Board Member Resigns Amid Pricing Turmoil

May 30, 2018

José Alberto de Paula Torres Lima, a board member at Brazilian state-run oil company Petroleo Brasileiro SA, resigned on Tuesday due to "personal reasons," the company said in a filing on Wednesday. Shares in Petrobras, as the company is known…

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Flex LNG Steers Away From Floating Units as Challenges Emerge

May 29, 2018

Flex LNG, a liquefied natural gas shipping company and part of the nautical empire of Norwegian billionaire John Fredriksen, has dropped its interest in operating floating regasification units due to project failures and low returns. Floating…

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Offshore Energy: Semco to Prep Rig Floatel Victory for Action

May 28, 2018

Semco Maritime has won the contract to upgrade the Floatel Victory accommodation rig. Following the upgrade, the rig will sail out to undertake a contract in the British sector of the North Sea for Maersk Oil UK. Floatel Victory, owned by Floatel International…

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US LNG Projects Buoyed by China Import Talks

May 22, 2018

China's interest in reducing its trade surplus with United States through increased energy imports could advance plans for U.S. liquefied natural gas (LNG) plants, said energy executives involved in developing new facilities. The White House and China on Saturday said a U.S.

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Benchamas FSO: InterMoor Completes Work

May 22, 2018

InterMoor has completed work for the installation of the new Floating Storage and Offloading (FSO) facility Benchamas 2 (FSO Benchamas 2). Previously, the Benchamas Explorer FSO, owned and operated by Chevron, was installed in 1999 in Block B8/32 in the Gulf of Thailand.

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FPSO at Jubilee Oil Field to Close for Fix

May 21, 2018

The production vessel at Tullow's flagship Jubilee oilfield off Ghana's west coast will shut down next week for 21 days while it undergoes repairs, the country's power utilities said on Monday. The planned shutdown next Monday of the Kwame Nkrumah production vessel…

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Ghana to Award New Oil Blocks off West Coast

May 18, 2018

Ghana is set to award nine new upstream oil blocks for commercial exploration off its western coast beginning this year, the energy ministry said on Thursday. The West African country plans to award six of the nine blocks this year while the…

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New Water Booster Pumps for Polvo FPSO

May 17, 2018

As part of the life extension project for the Polvo Floating production storage and offloading (FPSO) vessel, operator BW Offshore has contracted Norwegian based liquid handling and pump specialist PG Flow Solutions to supply new water booster pumps.

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Bangladesh Drops Trafigura in LNG Talks as Gunvor Advances

May 16, 2018

Bangladesh has terminated talks with Swiss-based commodity trader Trafigura to install a small floating liquefied natural gas (LNG ) import terminal due to delays in agreeing terms, while rival trader Gunvor advances with a separate project.

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Record 16 Companies Register for Brazil Pre-salt Auction

May 11, 2018

A record 16 oil companies, including heavyweights like Royal Dutch Shell Plc, have registered to participate in the so-called fourth round of bidding for stakes in Brazil's coveted pre-salt layer, oil regulator ANP said on Thursday. American firms Chevron Corp and Exxon Mobil Corp…

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Croatia Acts to Cut Red Tape for FSRU Terminal Project

May 10, 2018

The Croatian government proposed a special law on Thursday to facilitate the construction of an EU-backed liquefied natural gas (LNG) terminal in the northern Adriatic. The floating terminal is expected to start operations in 2020. The European…

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Petrojarl I FPSO Begins Working its 10th Field

May 10, 2018

Teekay’s three-decades-old floating production, storage and offloading (FPSO) Petrojarl I has achieved first oil and commenced its five-year charter contract with a consortium led by Queiroz Galvão Exploração e Produção SA (QGEP) on the Atlanta oilfield…

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Aker to explore options for Aker Energy after Ghana plan filing

May 9, 2018

Norwegian investment firm Aker will consider options for its stake in oil startup Aker Energy after the unit has appraised its offshore field in Ghana and submitted a development plan for the site to the Ghanaian government. Aker Energy bought…

Argentina Offshore Auction Attracting Oil Producers

May 9, 2018

International oil firms including Norway's Statoil, U.S. Anadarko Petroleum, China's CNOOC and Malaysia's Petronas have shown interest in Argentina's auction this year of offshore blocks for exploration and production, the country's energy minister said on Wednesday.

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Norway Launches New Licensing Round in Mature Offshore Areas

May 9, 2018

Norway will hold a new licensing round for its offshore oil and gas fields in already opened areas, further expanding the exploration acreage available to energy firms, the oil ministry said on Wednesday. Areas in the North Sea, the Norwegian Sea and the Barents Sea will be offered to oil companies…

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Sanctions spell the end of OPEC output deal

May 9, 2018

President Donald Trump’s decision to withdraw from the nuclear agreement with Iran marks the end of the current output agreement between OPEC and its allies. OPEC is likely to insist the current agreement remains in effect, at least for now…

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Asset Sales Help Boost Petrobras Q1 Profit

May 8, 2018

Brazil's state-controlled oil company Petróleo Brasileiro SA reported a 56.5 percent rise in net profit in the first quarter, helped by asset sales, a filing showed on Tuesday. Petrobras, as the company is known, posted a net profit of 6.961…

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Shell Awards Deepwater Installation Contract in GOM

May 8, 2018

In another sign that activity in the moribund offshore sector is starting to loosen, Jumbo said that it has won the installation contract for the Shell deep-water Vito development in the US Gulf of Mexico. The Vito development is located in the Mississippi Canyon…

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Jumbo Completes Work on Bangladesh FLNG Terminal

May 4, 2018

In 2017 Jumbo was awarded a contract by Geocean for the Moheshkhali Project, which is seeing a floating liquefied natural gas (LNG) import terminal developed off the shores of Moheshkhali Island in the Bay of Bengal, Bangladesh. It will be the…

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India's First FSRU Based LNG Terminal Launched

May 3, 2018

H-Energy Gateway, the energy venture of Hiranandani Group, launched India’s first Floating Storage Regasification Unit (FSRU) based LNG terminal at JSW Jaigarh Port in Ratnagiri District, Maharashtra. The Jaigarh Port is owned & operated by…

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