Stories

Statoil Eyes Future Projects with Pemex

April 13, 2018

Norway's Statoil will evaluate new offshore projects in Mexico, including potential tie-ups with state oil company Pemex, the firm's top executive said, adding that a first deepwater well in an existing Gulf project will likely be drilled next year.

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Petrobras, BP Reinforce Partnership

April 12, 2018

Petrobras chief executive officer, Pedro Parente, and BP chief executive officer, Robert Dudley, signed a Memorandum of Understanding (MOU) to complement and reaffirm the commitments contained in the Letter of Intent (LOI), signed by the companies in October 2017.

Eni CEO Says Q1 Production Rose 4%

April 10, 2018

Italy's Eni grew its oil and gas production by 4 percent in the first quarter, CEO Claudio Descalzi said on Tuesday. "Production is good. We have 4 percent growth year-on-year and quarter-on-quarter," Descalzi said, presenting the group's recent business plan in New York.

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Pictured left to right Florin Boros, Associate Director – Transportation Clients, ABN AMRO Bank; Pierre Frachon, Head of Shipping & Offshore for France, Benelux, Italy and Eastern Europe, ‎BNP Paribas

SCF Secures Funds for Six Aframax Tankers

April 6, 2018

PAO Sovcomflot (SCF Group) informed that it has signed a new $252 million 7-year credit facility with a consortium of six leading international banks, which includes: ABN AMRO Bank; BNP Paribas; Citibank; ING Bank; KfW IPEX-Bank, and Société Générale.

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FSRU Höegh Esperanza Delivered

April 5, 2018

Höegh LNG Holdings Ltd. took delivery of Höegh Esperanza, its eight floating storage and regasification unit (FSRU). The FSRU was constructed at Hyundai Heavy Industries in South Korea and is designed for open, combined and closed loop regasification operation.

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MHWirth Bags Drilling Equipment Contract

April 5, 2018

MHWirth AS, a company owned by Akastor ASA, has entered into a contract with Keppel FELS for delivery of the drilling equipment package for a new semisubmersible drilling rig for harsh environment use, with options for further three packages.

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GAIL to Start Importing LNG Under Gazprom Deal

April 4, 2018

GAIL (India) to begin getting liquefied natural gas (LNG) under reworked deal with Gazprom from May, India's oil minister Dharmendra Pradhan told lawmakers on Wednesday GAIL signed a 2.5 million tonnes a year LNG import deal with Gazprom in 2012 Supplies under the reworked deal will be gradually ramped up and likely to reach full volumes in 5-6 years

Petrobras to Pre-pay $1.4 Bln in Bonds Maturing in 2020

April 4, 2018

Brazilian state-controlled oil company Petroleo Brasileiro SA said on Wednesday it would prepay $1.4 billion worth in bonds maturing in 2020, with coupons of 5.75 percent and 4.875 percent. The amount will be paid on May 3, Petrobras said in a securities filing…

Oil Down 2%

April 2, 2018

* Concerns of U.S. sanctions against Iran also support crude   * Rising Russian output, U.S.-China trade spat weigh   * U.S. crude output rose to 9.964 mln bpd in Jan - EIA (Updates prices)   Oil fell by more than 2 percent on Monday, pressured by a rise in Russian production…

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BSEE Inspects New Shell Appomattox Platform

April 2, 2018

As Shell finishes construction on its Appomattox Semi-Submersible Platform hull, Bureau of Safety and Environmental Enforcement engineers and inspectors signed off on several topsides components during a pre-production inspection March 27, 2018.

Mr. Saad Sherida Al-Kaabi, President and CEO of Qatar Petroleum, and Chairman of the Qatargas Board of Directors. Photo by Qatar Gas.JPG

Qatargas, EGAT Exploring LNG Collaboration

April 2, 2018

Qatargas Operating Company Limited (Qatargas) and the Electricity Generating Authority of Thailand (EGAT) announced the signing of a Memorandum of Understanding (MoU) to explore collaborative efforts in the LNG business. Under the terms of the MoU…

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Exxon Leads Oil Majors in Aggressive Offshore Brazil Bids

March 29, 2018

Exxon Mobil Corp roared into Brazil's prolific offshore oil fields again on Thursday, clinching eight blocks in partnership with other oil firms eager to lap up the country's choice reserves ahead of presidential elections later this year. Exxon…

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Production Floaters Orders Are on the Rebound

March 27, 2018

Fifteen production floaters were contracted in 2017 – 11 FPSOs, two production semis, a wellhead TLP and an FLNG – and the number of deep water projects in the near-term planning queue indicates production floater orders are set to accelerate.

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UTEC Develops Bespoke FPSO Virtual Management Tool

March 27, 2018

UTEC has delivered a bespoke Virtual Asset Management tool to an offshore Operator in Eastern Canada to allow its team to remotely access its floating, production storage and offloading unit (FPSO) from their desktop. The field, located offshore…

Petrobras Secures $606 mln Credit Line from Banco do Brasil

March 26, 2018

Brazilian state-controlled oil company Petróleo Brasileiro SA said on Monday it has hired a 2 billion real ($606 million) credit line from state lender Banco do Brasil SA expiring in Feb. 2023. In a securities filing, Petrobras, as the company is known…

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Optime Presents New Tree Control and Intervention System

March 26, 2018

At Subsea Valley 2017, Jan-Fredrik Carlsen, CEO of the Notodden based Norwegian company Optime Subsea, promised to revolutionize the intervention and controls segment of the subsea oil and gas industry through a new and disruptive technology.

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TechnipFMC bags Energean Karish Field contract

March 26, 2018

TechnipFMC has been awarded an iEPCITM (integrated Engineering, Procurement, Construction and Installation) contract by Energean Oil & Gas for the Karish full field development, located offshore Israel at a water depth of 1,750 meters. This…

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Mexican President Defends Energy Reform from Leftist Attacks

March 23, 2018

Mexico's president on Thursday defended his decision to open the energy sector against attacks from the man currently favorite to succeed him, saying a rollback of the measure could cost the country billions of dollars in lost investment. The…

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Asian Oil, Gas Producers Stepping up Activity after Long Lull

March 23, 2018

Asia's oil and gas producers are starting to revive projects aimed at deflating years of ballooning energy imports after new investment dried up following the 2014 industry crisis. Spending has so far been driven mainly by state oil companies such as India's ONGC…

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Statoil Awards Askeladd Development Contracts

March 22, 2018

Statoil is awarding a contract for pipelaying to Subsea 7 and for marine operations to Ocean Installer in the Askeladd field development. "The Askeladd project is being developed in a period of several key milestones for Statoil in North Norway.

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Record-size US Offshore Oil Lease Sale Draws Modest Bidding

March 21, 2018

Oil and gas drillers bid modestly on Gulf of Mexico acreage in the largest lease sale in American history on Wednesday, dealing a setback to the Trump administration's efforts to rapidly pump up investment in the region. The Interior Department…

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