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Angola Battles to Revive Oil Exploration
On Saturday, nearly two decades after securing the initial rights, Total's CEO Patrick Pouyanné was in Luanda to snip the ribbon on a $16 billion oil project. It's not clear when he, or his peers, will be cracking open the bubbly in Angola again.
Aoka Mizu FPSO Needs Extra Repairs
The floating production storage and offloading (FPSO) unit Aoka Mizu's planned stop in Algeciras, Spain will be extended for additional repair work, said U.K. based Hurricane Energy. The FPSO, which will be used at Hurricane's Early Production…
KrisEnergy Begins Latest Thai Drilling Program
Southeast Asia focused upstream oil and gas company KrisEnergy announced on Monday that the Mist jack-up rig has begun drilling the Montha-1 exploration well in the G10/48 contract area in the Gulf of Thailand. The well, located approximately…
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Total Launches $16 Bln Project Offshore Angola
Africa's second largest crude producer Angola and France's Total officially inaugurated a new deep-sea oil field worth $16 billion in the Atlantic approximately 260 kilometers from the capital Luanda. The Angolan State Minister for Economic and Social Development…
Petrobras Starts Production at P-75 Platform
The P-75 floating production, storage, and offloading unit (FPSO) has begun producing oil and natural gas in the Búzios 2 area of the pre-salt Santos Basin, Brazil's state-run Petroleo Brasileiro SA (Petrobras) said. With a daily capacity to process up to 150…
China Becomes Top Natural Gas Importer
China has overtaken Japan to become the world's top importer of natural gas, as Beijing's crackdown on pollution boosts its demand for the more environmentally friendly fuel, while the restart of nuclear reactors in Japan reduces its LNG imports.
Golar FSRU Wins LNG Croatia Project
State-owned LNG Croatia has selected Golar Power, a joint venture between Golar LNG and Stonepeak Infrastructure Partners, to deliver a floating storage and regasification unit (FSRU) for the nation's first liquefied natural gas import facility.
Petrobras CEO Not Expected to Stay On
Brazil's right-wing President-elect Jair Bolsonaro said on Wednesday that the chief executive of state-controlled oil company Petroleo Brasileiro SA, Ivan Monteiro, is not expected to stay on during the new administration. Speaking to reporters…
Petrobras Increasing Research Investments
As Brazilian national operator Petrobras and major international oil companies (IOC) target decreasing exploration and production (E&P) costs, especially at deepwater pre-salt plays in Brazil, increased investment will be funneled to research, development and innovation (RD&I).
MVOT Wins Vietnam Offshore Gas Project
Malaysia Vietnam Offshore Terminal (MVOT) confirmed that it has been awarded a $176 million contract to provide equipment for Japanese petroleum company Idemitsu Kosan to develop a gas block off southern Vietnam. The Malaysian terminal operator…
Petrobras Earnings Miss Forecasts
Brazil's Petroleo Brasileiro SA on Tuesday reported a surge in third-quarter net profit that still lagged forecasts as oil prices rose but spending at the state-owned company jumped. Petrobras made a net profit of 6.644 billion reais ($1.78 billion)…
FLNG Hilli Episeyo Operates in Full Capacity
Golar LNG Limited confirmed that FLNG Hilli Episeyo continues to operate with 100 percent commercial availability. Currently in the process of exporting its 10th LNG cargo, the vessel's proof of concept continues to add momentum to both existing and new opportunities under discussion.
Brazil Oil Output Dips
Oil production in Brazil fell 5.9 percent in annual terms to an average of 2.486 million barrels per day, the nation's ANP oil regulator said on Monday. In a statement, the ANP said natural gas production fell 0.9 percent year-over-year to an average of 113 million cubic meters per day.
FSU Delivered to Bahrain LNG
Teekay LNG’s first floating storage unit (FSU) has been delivered to charterer Bahrain LNG. The vessel Bahrain Spirit was delivered from the shipyard in South Korea at the end of August, before going on hire on September 19, 2018. The FSU will…
Total and Sempra Energy Ink North America LNG Deal
French energy group Total and Sempra Energy have signed a memorandum of understanding on the north American liquefied natural gas (LNG) market, which could see Total acquire a further stake in the sector. The deal could see Total take a contract…
Angola LNG offers cargo for Dec delivery into Asia
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)
Petrobras Sells Stake in Africa Unit
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.
Shell Profits Soar
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…
Ghana FSU/FSRU Finally Under Construction
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.
Petrobras Stops Chevron Plan to Drill Offshore Brazil
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…
EU Approves State Aid for Lithuanian LNG Terminal
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.