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BMT and MSI in Joint Alexandroupolis FSRU Terminal Project Award

January 9, 2018

BMT and Metocean Services International (MSI) have been jointly awarded a contract by Gastrade to deploy an Environmental Monitoring System (EMS) and develop metocean criteria to be utilized for the design of the offshore moored FSRU and the subsea pipeline to shore.

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BW Offshore Mulls Spin-Off of Oil & Gas

January 8, 2018

BW Offshore's CEO Carl Arnet made the following comments: "We have changed our vision and purpose. We are not exploring for oil, but oil that is found and to some extent proven. We will be exposed to oil price risk." Arnet wants focus on small…

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BW Offshore Gets Contract Extension for FPSO Polvo

January 8, 2018

BW Offshore has signed an agreement with Petrorio for a one-year extension for the lease and operation of the FPSO Polvo. The firm period has been extended to Q3 2019 (from Q3 2018), with options until Q3 2022. The company has also announced…

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PSA Marine to Provide LNG FSRU Services in Bangladesh

January 6, 2018

Summit Power International (SPI), Singapore, announced that its subsidiary, Summit LNG Terminal has awarded a 15-year contract to PSA Marine Bangladesh, a subsidiary of PSA Marine. Under the contract, PSA Marine Bangladesh will provide berthing…

Hedging Energy Bets: The Case for a 2018 Oil Bull Run

January 2, 2018

Hedge funds gamble OPEC will tighten oil market too much. By John Kemp Hedge funds are the most bullish about oil prices in years, expecting further gains even as prices touch multi-year highs and ignoring the risk linked to such a large concentration of positions.

Brazil Oil Production Slips in November

January 2, 2018

Brazil's oil output fell 1.21 percent in November from the previous month, regulator ANP said in a statement on Tuesday, after state-run oil company Petróleo Brasileiro SA carried out maintenance work at some production units. ANP said oil output was 2.595 million barrels of oil per day in November.

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Pankaj Khanna Appointed As CEO of Ocean Rig

January 1, 2018

Pankaj Khanna has been appointed as President and Chief Executive Officer of Ocean Rig UDW, a global provider of offshore deepwater drilling services, effective January 1, 2018. Khanna is 47 years old with 29 years of varied experience in the maritime & offshore industry.

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Ex-PDVSA oil czar Ramirez Probed in $4.8B Scandal

December 30, 2017

By Deisy Buitrago and Marianna Parraga Venezuela is investigating Rafael Ramirez, a once powerful oil minister and former head of state oil company PDVSA, in connection with an alleged $4.8 billion Vienna-based corruption scheme, the state prosecutor's office announced on Friday.

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17 Keppel Employees Pay for Petrobras Bribery Case

December 30, 2017

Keppel Corp's rig-building unit has taken disciplinary action against 17 current and former employees as part of its Brazil bribery case, a U.S. court document showed, including $8.9 million of financial sanctions, demotions and departures.

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Eni Buys out Shell's Stake in Evans Shoal Gas Field

December 30, 2017

Italy's Eni announces the purchase of a 32.5% stake in the Evans Shoal gas field in the Timor Sea, Australia. The field is located offshore in the NT/P48 exploration permit in the north Bonaparte Basin, around 300km northwest of Darwin, where there is an existing LNG plant precinct.

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Oil Finishes Strong in 2017

December 29, 2017

U.S. oil prices rose above $60 a barrel on the final trading day of the year and hit their highest since mid-2015, as an unexpected fall in American output and a decline in commercial crude inventories stoked buying in generally thin trading.

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Interview: Woodson Ferreira, Aker Solutions, Brazil

December 29, 2017

It is part of the company's strategy (for Brazil) to become a competitive international hub for projects with operators such as Statoil, Total, BP, among others. It is still a time of uncertainty and caution, but we are optimistic about the gradual recovery.

U.S. crude stocks drop 4.6M bbls

December 28, 2017

U.S. crude stocks fell last week as refineries hiked output, while gasoline and distillate inventories rose, the Energy Information Administration said on Thursday. Crude inventories fell by 4.6 million barrels in the week to Dec. 22, compared…

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Ship of the Year: MOL FSRU Challenger

December 28, 2017

MOL FSRU Challenger is Maritime Reporter & Engineering News' Great Ships of 2017. The World’s Largest Floating Storage and Regasification Unit (FSRU Max). Japanese shipowner Mitsui O.S.K. Lines, Ltd. (MOL) in middle of October, took delivery…

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Shipyard Contract Cancelled

December 26, 2017

Ongoing uncertainty in the global offshore energy sector has claimed another casualty, as Kawasaki Heavy Industries announced that it has terminated -- in agreement with Island Navigator I KS -- the shipbuilding contract for the top hole drilling/light well intervention vessel, Island Navigator.

BSEE Proposes Softening of Offshore Drilling Rules - WSJ

December 26, 2017

A U.S. regulator has proposed rolling back safety measures put in place after the 2010 Deepwater Horizon oil spill, which would reduce the role of government in offshore oil production, the Wall Street Journal reported on Monday. The Bureau of Safety and Environmental Enforcement (BSEE)…

World's Largest Vessel Set to Sail in 2018

December 26, 2017

In 2018, Shell's huge floating liquefied natural gas (FLNG) Prelude, the world's largest vessel, will begin its job of extracting and processing gas at sea, reported CNBC. The 488-meter-long and 74-meter-wide floating facility left the shipyard…

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ABS Grants AIP for LNG Power Vessel

December 22, 2017

ABS has granted Approval in Principle (AIP) to Hudong-Zhonghua Shipbuilding (Group) Co., Ltd., for its LNG Power Vessel. The vessel is designed in accordance with the applicable requirements of ABS Rules and IMO Regulations. “ABS provides the…

Petrobras: O&G Auction Not in CapEx Plan

December 22, 2017

Brazil's state-run oil company Petroleo Brasileiro announced that it had not allocated money to bid in upcoming oil and gas auctions in its five-year capital spending plan, according to a presentation hosted by exploration and production director Solange Guedes.

Shipbuilding First: Wison Delivers Barge-based FSRU

December 21, 2017

A shipbuilding first was recorded with Exmar took delivery of the world's first barge-based FSRU and secures long-term employment for the unit. Final delivery of the world’s first barge-based floating LNG storage and re-gasification unit (FSRU) from the Wison Shipyard in Nantong, China.

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SBM Offshore Completes FPSO Liza Financing

December 20, 2017

SBM Offshore said it has secured the $720 million project financing for FPSO Liza through a consortium of 12 international banks, completed on December 19, 2017. SBM Offshore said it expects to draw the loan in full, phased over the construction period of the FPSO.

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