Stories

ExxonMobil Profit Tops Estimates

February 1, 2019

Exxon Mobil Corp on Friday reported a quarterly profit that topped analysts' estimates, pushing it shares up nearly 3 percent in premarket trading as its oil and natural gas output rose slightly on a year-over-year basis. The company's fourth-quarter net income fell to $6 billion…

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New Board Members, Directors at Petrobras

January 31, 2019

Brazilian state-run oil company Petroleo Brasileiro SA (Petrobras) said on Thursday that its board had approved the nominations of Eduardo Bacellar Leal Ferreira to be its chairman and João Cox as a board member. It also signed off on the nominations…

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FLNG Market Oversupplied

January 30, 2019

Floating liquefied natural gas (FLNG) projects may have peaked already amid intensifying competition in the LNG space, a  review of the global FLNG sector released by global natural resources consultancy Wood Mackenzie has suggested. In a world requiring tight capital discipline…

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PetroRio Buys Chevron’s Frade Stake

January 30, 2019

Brazilian independent PetroRio announced Wednesday that it has acquired Chevron’s stake in the deepwater Frade field in the Campos Basin offshore Brazil for an undisclosed sum. The share purchase agreement sees the U.S. supermajor sell its 51.74% stake in the producing field…

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Australia Leads FPSO Deployments in Oceania

January 29, 2019

A total of 67 floating production, storage and offloading (FPSOs) vessels are expected to start operations globally by 2025, with Australia leading the Asia-Pacific region According to GlobalData, a data and analytics company, globally, 67 planned…

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Equinor Cleared to Extend Åsgard A Production

January 28, 2019

Equinor’s application to prolong the technical lifetime for the Åsgard A facility in the Norwegian Sea has been approved by the Norwegian Petroleum Directorate, extending production up to 12 years longer than was originally planned. The Åsgard A floating production…

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Senegal Awards LNG, Oil Advisory Job to Doris Engineering

January 27, 2019

French engineering services provider Doris Engineering has been awarded an advisor contract by the Senegalese ministry of petroleum and energies for the development of oil & gas projects offshore Senegal. This two-year mission consists in reviewing…

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ExxonMobil Inks Preliminary Wilhelmshaven FSRU Deal

January 25, 2019

German utility Uniper on Friday said ExxonMobil had signed a preliminary deal to take a substantial share of the regasification capacity at a liquefied natural gas (LNG) floating terminal planned for Wilhelmshaven. "The heads of agreement (a…

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DOF Subsea Wins Yinson Energy Contract

January 25, 2019

Malaysia's Yinson Holdings Bhd's associate Yinson Energy has awarded DOF Subsea Asia Pacific Region a contract to provide transportation & installation (T&I) services to position and moor the FPSO Helang on the Layang field, Sarawak, Malaysia.

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WSM to Manage FSRU for Pardus Energy

January 24, 2019

Wilhelmsen Ship Management (WSM) has entered into a management agreement with Ireland-based Pardus Energy for their new building Floating Storage and Regasification Unit (FSRU). WSM, one of the world’s largest third-party ship manager with a…

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FSRU Enters Qatar Drydock for Maintenance

January 22, 2019

A floating storage regasification unit (FSRU) owned by U.S. based Excelerate Energy will undergo drydocking, maintenance and upgrades at the Erhama Bin Jaber Al Jalahma Shipyard in Qatar, prior to its deployment in Bangladesh. The drydocking…

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Santos Boosts Van Gogh Production

January 22, 2019

Australian producer Santos announced Tuesday that it has achieved first oil from the Van Gogh infill project, marking the completion of a two-well program to increase production from the field. The Santos-operated Van Gogh field is one of three…

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Hurricane Energy Fails To Hook-up

January 21, 2019

The UK based oil and gas company Hurricane Energy PLC said it was unable to complete the buoy hook-up operation in the offshore UK Lancaster field due to problems with the rope. According to a press note, the Aoka Mizu FPSO has been forced to return to the Cromarty Firth.

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Total Green-lights Ikike Oil Project in Nigeria

January 21, 2019

French oil group Total will approve plans to proceed with the Ikike project in Nigeria in the coming months, and also aims to expand its liquefied natural gas (LNG) project in the country, CEO Patrick Pouyanne said on Monday. Total is one of the strongest players in the African oil sector…

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Woodside Boosts Spending for Next Leg of Growth

January 17, 2019

Australia's Woodside Petroleum Ltd on Thursday flagged higher-than-expected investment spending for 2019 as it steps up early work on the two big natural gas developments that will drive its growth in the next decade. Australia's largest independent…

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Norway's Northernmost Oil Find Could Start Production in 2026

January 16, 2019

Austria's OMV and partners plan to invest up to $6 billion initially to develop the Arctic Wisting oil find, Norway's northernmost oil discovery, which could start production within a decade, a senior executive said on Wednesday. OMV owns a…

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Woodside Awards Scarborough FEED Contracts

January 16, 2019

Australian independent oil and gas company Woodside said Wednesday it has awarded four contracts for front-end engineering design (FEED) activities for the proposed US$11 billion Scarborough Project offshore Western Australia. Each contract…

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Petrobras 2018 Production Shy of Target

January 16, 2019

Petroleo Brasileiro produced an average of 2.03 million barrels per day (bpd) in Brazil last year, the oil company said in a statement on Tuesday, just below the company's target of 2.1 million bpd. Petrobras' total production of oil and natural…

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​​​​Petrobras Wants to Operate 3 Blocks in 6th Pre-salt

January 14, 2019

Brazil state-run oil firm Petroleo Brasileiro SA said on Monday it plans to exercise its preferential rights to operate three blocks in the next pre-salt deep water auction, due later this year, under a production-sharing contract scheme. In a statement…

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Three Nominated to Petrobras Board

January 14, 2019

Brazil's government on Monday nominated three new board members for state-owned oil company Petroleo Brasileiro SA (Petrobras), amid accusations that new CEO Roberto Castello Branco was pushing to oust board members. The nominees are Eduardo Bacellar Ferreira, John Forman and Joao Cox.

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Equinor Wraps Up Rosebank Acquisition

January 11, 2019

Norway's Equinor said on Friday it has completed its acquisition of Chevron’s 40 percent operated interest in the Rosebank project in the West of Shetland region of the U.K. continental shelf. The transaction was announced in October 2018 .

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