Stories

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Angola LNG offers cargo for Dec delivery into Asia

November 2, 2018

Angola's liquefied natural gas (LNG) export plant has offered to sell a cargo for delivery into Asia in December, two industry sources said on Friday. Bids are due by Nov. 6, and are to remain valid until Nov. 7, one of them said. (Reporting by Jessica Jaganathan, Editing by Sherry Jacob-Phillips)

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Petrobras Sells Stake in Africa Unit

November 1, 2018

Brazil's Petroleo Brasileiro SA will sell its 50 percent stake in a Nigerian oil and gas exploration venture to a consortium led by top oil trader Vitol for $1.53 billion, the latest step in the state-controlled oil company's debt reduction drive, according to a securities filing on Wednesday.

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Shell Profits Soar

November 1, 2018

Royal Dutch Shell's profits soared to a four-year high in the third quarter, boosted by rising oil and gas prices as the company accelerated its giant $25 billion share buyback program. Although the $5.6 billion quarterly profit slightly missed forecasts for a fourth quarter…

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Ghana FSU/FSRU Finally Under Construction

October 31, 2018

Ghana's liquefied natural gas (LNG) import project is finally under construction, years after its original inception, with two vessels contracted to store and regasify the fuel by the second quarter of 2020, a project partner said on Wednesday.

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Petrobras Stops Chevron Plan to Drill Offshore Brazil

October 31, 2018

A decision by Petrobras not to invest in drilling new wells has derailed Chevron Corp's plan to resume exploration in a Brazilian offshore field, people familiar with the matter said. Chevron, which operates the field with a 52 percent stake…

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EU Approves State Aid for Lithuanian LNG Terminal

October 31, 2018

The European Commission approved on Wednesday new government support terms to the liquefied natural gas (LNG) terminal at the Klaipeda seaport, after the Lithuanian authorities changed some of the conditions it got approval for already in 2013.

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MISC Wins FSO Charter Contract in Vietnam

October 31, 2018

Malaysian shipping group MISC Berhad (MISC) has received a time charter contract from Idemitsu Kosan (IKC) for the provision of a floating, storage and offloading (FSO) vessel in Vietnam. The energy-related maritime solutions and services provider…

Bolsonaro Approached Castello Branco About Being Petrobras CEO

October 30, 2018

Brazilian President-elect Jair Bolsonaro's team approached Roberto Castello Branco, a former board member at state-controlled Petroleo Brasileiro SA (Petrobras), about the possibility of his becoming its new chief executive, two people with knowledge of the matter said on Tuesday.

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Goldsboro LNG Project Eligible for $1.5bln German Loan

October 30, 2018

Pieridae Energy announced that its proposed financing of upstream activities within the Goldboro LNG project has received a written confirmation of eligibility in principle for up to US $1.5 billion of untied loan guarantee by the German federal…

OFFSHORE ENGINEER (OE) is Back!

October 29, 2018

I am proud to announce that we have acquired the assets of Atcomedia and starting in January 2019 we will relaunch the flagship title, Offshore Engineer (OE), a perfect compliment to our media offering, led by Maritime Reporter & Engineering News.

Teekay Offshore Reaches Settlement with Petrobras

October 29, 2018

Teekay Offshore Partners L.P. announced Monday that certain of its subsidiaries have entered into a settlement agreement with Petróleo Brasileiro S.A. and Petroleo Netherlands B.V. – PNBV S.A. with respect to various disputes relating to the…

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Cairn Energy Submits Senegal SNE Plan

October 25, 2018

UK-based Cairn Energy  announced that the Development and Exploitation Plan for the SNE field offshore Senegal has been submitted on schedule to the Government of Senegal by the Joint Venture (JV) with approval targeted later this year. Cairn…

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Shell Adds New FPSO in Brazil

October 25, 2018

New, deep-water production is underway today at the Lula Extreme South in the Brazilian Santos Basin. Royal Dutch Shell plc, through its subsidiary Shell Brasil Petróleo Ltda. (Shell) and consortium partners, announces that the FPSO P-69 is now producing.

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First LNG Cargo Exported from Ichthys

October 23, 2018

French oil and gas major Total said on Tuesday that the first cargo of liquefied natural gas (LNG) cargo from Australia's Ichthys LNG project has been exported following the production start-up at the end of July. Ichthys LNG, with reserves…

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Kvaerner Eyes Growth, Mergers as Profits Decline

October 23, 2018

Kvaerner, a Norwegian builder of oil platforms, aims to increase its revenue by some 40 percent by 2022 by expanding abroad, the company said on Tuesday after reporting a sharp decline in third-quarter earnings that drove down its shares. Kvaerner's quarterly earnings before interest…

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Drydocks World Completes FPSO Upgrade, Turret Mooring Project

October 23, 2018

Drydocks World has recently completed two projects for Bluewater Energy Services B.V. and end client Hurricane Energy plc. The projects included the refurbishment, life extension and upgrade of the FPSO Aoka Mizu vessel, and the construction of a Turret Buoy weighing over 1,000T.

Petrobras Receives $149 Mln from SBM in Leniency Deal

October 22, 2018

Brazilian state-run oil company Petroleo Brasileiro SA has received an initial payment of 549 million reais ($148.92 million) from Dutch marine engineering group SBM Offshore as part of a 1.22 billion-real leniency deal, the Brazilian government said on Monday.

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ABS Awards AIP to HHI’s Standardized FPSO Topside

October 21, 2018

The global provider of classification and technical advisory services to the marine and offshore industries ABS granted Approval in Principle (AIP) to Hyundai Heavy Industries’ (HHI) Standardized design for a Floating Production Storage and Offloading (FPSO) facility.

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Aker BP Q3 Operating Profit Beats Forecast

October 19, 2018

Aker BP's third-quarter operating profit rose more than expected, helped by a boom in oil prices, the Norwegian oil firm said on Friday, while reducing planned capital and exploration spending. Earnings before interest and taxes (EBIT) rose…

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Van Oord Bags Husky Energy's West White Rose Project

October 19, 2018

Dutch offshore and dredging services specialist Van Oord has been awarded the contract to carry out offshore installation works for the West White Rose Project of the east coast of Newfoundland, Canada. The project will give Canadian oil company…

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SDX Terminates Talks Over BP's Egyptian Assets

October 19, 2018

North Africa-focused oil company SDX Energy has terminated talks for a potential acquisition of assets in Egypt from the oil giant BP. A press release from SDX announed that further to the announcement made on 20 September 2018, discussions…

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