Stories

Ex-Petrobras CEO Bendine Convicted of Corruption in Brazil

March 8, 2018

Aldemir Bendine, the former chief executive of state-controlled oil firm Petroleo Brasileiro SA and Banco do Brasil, was found guilty on Wednesday of corruption charges and sentenced by a federal judge to 11 years in prison. Judge Sergio Moro…

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New Operator in Mexico's Ogarrio oil field

March 7, 2018

Deutsche Erdoel Mexico, the affiliate of the German E&P company DEA Deutsche Erdoel AG, Pemex and the Mexican National Hydrocarbons Commission (CNH) have signed the licence contract for the Ogarrio field in Mexico on 06 March 2018. Deutsche…

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U.S. Steel Tariff Could Impact Shell GoM Decisions

March 7, 2018

A potential tariff on U.S. steel imports could affect Royal Dutch Shell's plans to go ahead with a major oil field development in the Gulf of Mexico, a company executive said on Wednesday. Wael Sawan, who heads Shell's deepwater operations,…

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Exxon, Total, Repsol among bidders for oil exploration off Greece

March 5, 2018

Oil majors Exxon Mobil, Total and Repsol are among members of two consortia that have submitted bids to explore for oil and gas off Greece. Greece's oil and gas resources management company (HHRM) said on Monday that Exxon and Total, each with 40 percent stakes…

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WinGD, HHI Partner for Digital Tech

March 3, 2018

Winterthur Gas & Diesel (WinGD) and Hyundai Heavy Industries (HHI) Group recently signed, the first agreement of its kind to integrate their advanced digital technologies to provide greater insight and benefit to ship owners from their engine and ship data.

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U.S. Considers Venezuela Oil Sanctions

March 1, 2018

The Trump administration is considering sanctioning a Venezuelan military-run oil services company and restricting insurance coverage for Venezuelan oil shipments to ratchet up pressure on socialist President Nicolas Maduro, a U.S. official said.

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Exxon Selling Stake in Terra Nova Oil Project

February 27, 2018

Exxon Mobil Corp is selling its entire stake in the Terra Nova oil project off the eastern coast of Canada, though the world's largest publicly traded oil producer said it was committed to remaining an investor in the region. The project, located…

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Pemex Posts Nearly $18 Bln Q4 Loss

February 26, 2018

Mexican state-owned oil company Pemex made a 352.3 billion ($17.9 bln) peso loss in the fourth quarter of 2017, the company reported on Monday, blaming a volatile exchange rate and higher financing costs for its performance. Revenue at the company…

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Total Lubmarine debuts Environmentally Lubricant

February 25, 2018

Total Lubmarine has announced the introduction of a new grease product: BIO OG PLUS – an innovative addition to an already comprehensive Environmentally Acceptable Lubricant (EAL) range. Specifically formulated for sensitive applications such as open gears and chains under high load…

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CEO Haugan Leaves Kvaerner to Lead Aker Energy

February 23, 2018

Jan Arve Haugan resigns as President & CEO of Kvaerner, and from March 1, 2018, he will start his new role as CEO of the newly established oil company Aker Energy. Idar Eikrem, Executive Vice President and Chief Financial Officer in Kvaerner, is appointed interim CEO.

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Kvaerner Invests in New Quay at Stord

February 13, 2018

Kvaerner said it plans to invest NOK 370 million ($46.8 million) in a new quay at the company's facility at Stord. "The objective for this upgrade will be to make the facility more flexible. We invest now to strengthen our competitiveness, and…

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Singapore Marine Fuel Sales Surge 7.2%

February 13, 2018

Singapore's marine fuel sales set a monthly record in January after climbing to 4.606 million tonnes, up 3.2 percent from a year earlier as vessels coming to the world's largest bunkering hub loaded larger amounts of bunker fuel per vessel on average, official data showed.

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Sberbank, Sovcomflot Sign $106m Finance Deal

February 13, 2018

The largest bank in Russia Sberbank and shipping company Sovcomflot have signed a new USD 106 million project financing agreement, with a term of up to 14 years. The funds will finance the construction of a high ice class Arctic shuttle tanker (Arc7) for the Novy Port project…

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IKM Subsea Singapore Starts 2018 with Multiple Contracts

February 12, 2018

IKM Subsea Singapore said it has kicked off 2018 with a double contract award. The first is a contract to provide two remotely operated vehicles (ROV) for a floating liquefied natural gas (FLNG) mooring installation in Bangladesh. IKM Subsea…

High Seas Standoff: Cyprus Says Turkey Blocks Drill Ship

February 12, 2018

Cyprus on Sunday accused the Turkish military of obstructing a ship contracted by Italian oil company Eni from approaching an area to explore for natural gas, highlighting tensions over offshore resources in the east Mediterranean. A spokesman…

Chevron Mulling Participation in Brazil's March Oil Auction

February 6, 2018

Chevron Corp is considering taking part in an oil auction next month in Brazil as part of a consortium of companies, Brazilian oil regulator ANP said on Tuesday on its website. The auction, slated for March 29, will offer 70 blocks in the offshore Ceará…

Petrobras CEO Sees Few Board Changes This Year

February 5, 2018

Brazilian state-controlled oil company Petroleo Brasileiro SA's board of directors should change little this year, Chief Executive Officer Pedro Parente said on Monday, amid meetings with government officials in Brasilia on the subject. "It…

Mero Field to Produce 40,000 bpd by End of Feb

February 2, 2018

Brazil's Mero field in the offshore Libra area should begin producing 40,000 barrels of oil per day by the end of February as part of a long duration test, an official at state-controlled oil company Petroleo Brasileiro said on Friday. Fernando Borges…

Total Announces Major Deepwater Oil Discovery in US Gulf

January 31, 2018

French oil and energy group Total said on Wednesday that it had made a significant oil discovery at the Ballymore prospect in the deep offshore in the U.S. Gulf of Mexico, its largest discovery in the area. "This major discovery gives us access…

Petrobras Making 'Interesting Discoveries' in Campos Basin -CEO

January 31, 2018

Brazil's state-controlled oil company Petroleo Brasileiro SA is making 'interesting discoveries' in blocs at the Campos basin, off the Rio de Janeiro coast, where it is drilling deeper to reach the pre-salt layer, Chief Executive Pedro Parente said on Wednesday.

Shell Makes Big Deepwater Oil Discovery in Gulf of Mexico

January 31, 2018

Oil major Royal Dutch Shell said its U.S. unit had made one of its biggest oil discoveries in the past decade in the Whale deepwater well in the U.S. Gulf of Mexico. The Whale is operated by Shell and co-owned by U.S. oil giant Chevron Corp.

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