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Record-size US Offshore Oil Lease Sale Draws Modest Bidding
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…
CGG Begins Deepwater Survey Offshore Brazil
CGG said it has commenced acquisition of a large broadband 3D multi-client survey in the pre-salt area of the deepwater Santos Basin. Santos VIII is the most recent survey in CGG’s vast ongoing pre-salt program that delivers ultramodern seismic data…
Hardy Takes Over as Vitol CEO
Ian Taylor, who helped build Vitol into the world's biggest oil trader, will step down as chief executive and continue as chairman, the company said on Friday, naming a long-time ally and insider, Russell Hardy, as the new group CEO. Taylor…
Floating Production Systems Report And Online Database
- Monthly reports -- Our monthly reports provide a detailed snapshot of the business sector as of the middle of each month. More than 80 pages of data and industry analysis each month. Excel spreadsheets with each report enable subscribers to tailor the data presentation to their needs. In October of each year we provide a detailed five year forecast of production floater orders. In March of each year we fine tune the forecast and make revisions as needed.
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More Exploration off Norway Needed to Maintain Output -Petoro
Oil companies must explore for more offshore oil and gas reserves if Norway is to maintain energy production at its current level, state-owned oil firm Petoro said on Wednesday. Petoro holds stakes in several oil and gas firms off Norway and…
BMT Rolls Out New Big Data Product: BMT Deep
BMT has introduced BMT Deep, an advanced interactive asset data platform designed to deliver deeper insights for enhanced offshore asset performance management. “With 20+ years practical experience of working with marine structures, we have developed a platform that can monitor…
MISC Berhad Names FSO Benchamas 2
MISC Berhad held the naming and delivery ceremony of its new Floating, Storage & Offloading (FSO) facility for Chevron Offshore (Thailand) Limited (COTL), the FSO Benchamas 2. The project marks MISC’s maiden foray into Thailand’s offshore oil…
Woodside to Operate Scarborough
Woodside and BHP have entered into an agreement in relation to the proposed development of the Scarborough gas field. BHP waived its right of pre-emption and provides its consent to the sale by ExxonMobil to Woodside of its 50 percent interest…
Start of Golar's FLNG in Cameroon May Draw More Africa Clients
Golar LNG said on Monday it had started production at its floating LNG (FLNG) platform in Cameroon, the world's second working example of the nascent technology and a milestone likely to boost its Fortuna project in Equatorial Guinea. As the…
BSEE: Report on Subsea Bolting Technology Released
In an effort to address a recurring problem with faulty connectors in critical safety equipment, the Bureau of Safety and Environmental Enforcement (BSEE) commissioned a National Academy of Engineering study on the matter in September 2016.
Ex-Petrobras CEO Bendine Convicted of Corruption in Brazil
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…
New Operator in Mexico's Ogarrio oil field
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…
U.S. Steel Tariff Could Impact Shell GoM Decisions
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,…
Exxon, Total, Repsol among bidders for oil exploration off Greece
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…
WinGD, HHI Partner for Digital Tech
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.
U.S. Considers Venezuela Oil Sanctions
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.
Exxon Selling Stake in Terra Nova Oil Project
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…
Pemex Posts Nearly $18 Bln Q4 Loss
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…
Total Lubmarine debuts Environmentally Lubricant
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…
CEO Haugan Leaves Kvaerner to Lead Aker Energy
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.
Kvaerner Invests in New Quay at Stord
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…
Singapore Marine Fuel Sales Surge 7.2%
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.