Stories

Malaysia's MISC Signs LoI for Mero 3 FPSO Delivery

August 17, 2020

Brazilian oil company Petrobras has signed a letter of intent with Malaysia's MISC Berhad for the chartering and services of an FPSO to be deployed at the Mero 3 development offshore Brazil. The FPSO to be named Marechal Duque de Caxias will be installed in the Mero field…

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Malaysia's KNM to Deliver Equipment for SBM Offshore FPSO

August 14, 2020

Dutch floating production solutions provider SBM Offshore has ordered equipment from Malaysia's KNM to be installed on an FPSO destined for ExxonMobil's Guyana operations. Bursa Malaysia-listed KNM said SBM Offshore had on Thursday ordered PME pressure vessel separators worth around $4 million.

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Woodside Says It's on the Lookout for Acquisitions

August 12, 2020

Australia's Woodside Petroleum is looking for acquisitions, ideally close to its existing assets or offering it control over assets that are already producing or close to producing, its boss said on Thursday. "We're clearly scanning the landscape very closely looking for opportunities…

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Opedal Tapped for Top Spot at Equinor

August 10, 2020

The Equinor Board of Directors appointed Anders Opedal as its new president and CEO starting November 2, 2020. Eldar Sætre will retire after six years as CEO and more than 40 years in the company. Opedal ascends to the top spot coming from the position as Executive Vice President Technology…

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Oil Market Stalls as Absence of Signals Compounds Summer Slowdown

August 10, 2020

Hedge funds' oil trading largely dried up last week as the normal summer holiday slowdown was compounded by an absence of price or fundamental signals about the future direction of the market. Hedge funds and other money managers purchased the…

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Equinor's Incoming CEO Wants to Be Best in Offshore Oil, Gas

August 10, 2020

Anders Opedal, who on Monday was named Equinor's new chief executive , said he wanted the Norwegian oil company to be both best in offshore oil and gas and at the same time have higher climate targets and develop new low-carbon solutions. "I want Equinor to be best in offshore oil and gas…

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Nigeria: FPSO Workers Released after Kidnapping

August 7, 2020

Offshore workers kidnapped from an FPSO offshore Nigeria in an armed pirate attack in July, have been released, the owner of the floating production unit said Friday. In an incident that occurred on July 2, nine Nigerian crew members aboard the BW Offshore-owned Sendje Berge FPSO were kidnapped.

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Royal IHC's Equipment for Brazil-Bound FPSO

August 7, 2020

Dutch company Royal IHC will supply a tandem mooring & offloading system and a riser pull-in system for Petrobras-bound Anna Nery (Marlim 2) FPSO. The FPSO, owned by Malaysia's Yinson, is currently being built in China. Once completed it will be moored a round 150 kilometers off the Brazilian coast…

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SBM Offshore Maintains 2020 Revenue Guidance, Will Cut 300 Jobs to Reduce Costs

August 6, 2020

Dutch FPSO leasing company SBM Offshore has raised its EBIDTA guidance and maintained the revenue guidance for 2020, after "successfully navigating" a challenging period caused by the pandemic. Still, it is preparing for shorter oil price cycles…

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Inpex Books $1.3B Writedown on Australian LNG assets, Omitting Ichthys

August 6, 2020

Japan's biggest oil and gas company, Inpex Corp, booked charges of 140 billion yen ($1.33 billion) on its liquefied natural gas (LNG) projects in Australia, it said on Thursday, due to a slump in prices caused by the coronavirus pandemic. The…

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Petrobras Says Buzios Field Hit Output Record in July

August 6, 2020

Brazilian oil company Petrobras has said its Buzios deepwater field off Brazil broke monthly oil production record for July. Petrobras said Wednesday that its floating production storage and offloading units installed at the deepwater oilfield had reached new monthly production records in July…

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Remazel Engineering Wins Jotun FPSO Gig

August 5, 2020

Italian engineering firm Remazel Engineering has won a contract with Bluewater for work on the Jotun FPSO upgrade. The Jotun FPSO which has been producing oil from the Jotun field in Norway's part of the North Sea since 1999, was recently moved by ashore for upgrades…

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OLT Offshore's FSRU Toscana Receives 100th LNG Cargo

August 5, 2020

OLT Offshore LNG Toscana's floating regasification unit FSRU Toscana received its 100th LNG cargo via the ship-to-ship from the Bonito LNG carrier on July 31, 2020. Per the owner, OLT Terminal has, over the years, received LNG from the main exporting countries such as: Algeria…

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Ocyan Aims for Bigger Offshore Platforms to Cement Comeback

August 4, 2020

Offshore oil industry supplier Ocyan plans to participate in bids for much bigger platforms than it currently has in Brazilian waters, the world’s largest market for floating platforms, Chief Executive Roberto Bischoff told Reuters. He said…

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Shell's Crux Gas Field Development Proposal Accepted

August 4, 2020

Australian offshore oil and gas safety regulator NOPSEMA has accepted Shell's offshore project proposal for the development of the Crux gas field in the Browse Basin, off the north coast of Western Australia. Consisting of a normally unmanned platform and five production wells…

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Brazil's Petrobras Posts $500M Loss Despite Record Exports to China

July 31, 2020

Brazilian state-run oil firm Petroleo Brasileiro SA on Thursday posted a loss of 2.7 billion reais ($524 million) in the second quarter, hurt by tumbling oil prices despite record export volumes to China. The result, down from a record quarterly profit of 18.9 billion reais a year ago…

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Cyprus Gets EBRD Loan to Buy FSRU

July 31, 2020

The European Bank for Reconstruction and Development (EBRD) will provide an €80 million loan ($94,7 million), alongside EU and EIB financing, for a floating storage and regasification unit in Cyprus The EBRD is providing an €80 million loan…

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UK: Oil and Gas Production Efficiency Hits 80% Three Years ahead of Target

July 31, 2020

Production efficiency on the UK Continental Shelf (UKCS) has improved for the seventh consecutive year and for 2019 reached 80%, three years ahead of the 2022 target, the UK Oil and Gas Authority (OGA), said Thursday. Production efficiency is…

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EnQuest to Take Over Operatorship of Bressay Field from Equinor

July 31, 2020

Norwegian oil and gas company Equinor will sell a 40.8125% interest in and transfer operatorship of the Bressay oil field development on the UK continental shelf to UK-based EnQuest. The initial consideration is GBP 2,2 million (USD 2,8 million)…

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ExxonMobil Finds More 'High-quality' Reservoirs Off Guyana, Hess Says

July 29, 2020

The U.S. oil major ExxonMobil has recently discovered two more high-quality oil reservoirs offshore Guyana, Hess, the company's partner in the prolific Stabroek block said Wednesday. To remind, back in January, ExxonMobil said it had struck its 16th oil discovery in the offshore block in Guyana…

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Hess' 2Q Loss Deepens. Oil Output Jumps

July 29, 2020

U.S. oil and gas producer Hess Corp reported a bigger quarterly loss on Wednesday, hurt by lower oil prices as the COVID-19 pandemic sapped global energy demand. Crude prices sank to historic lows in April as economic activity plummeted across…

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