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Golar LNG Partners in FLNG Hilli Episeyo Stake Acquisition

Golar LNG Partners announced that it has entered into a purchase and sale for the acquisition from Golar LNG Limited and affiliates of Keppel Shipyard and Black and Veatch of equity interests in Golar Hilli LLC, which will, on the closing date of the Acquisition…

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Shifting Oil Market Dynamics Key to Tanker Trade Prospects -MSI

The Q3 2017 tanker market is proving vexatious for owners still struggling with the effects of fleet oversupply. But in its latest monthly forecast, Maritime Strategies International (MSI) observes that changing trade patterns could help stabilize the market toward year-end and into 2018.

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Latest Gulf of Mexico Auction Signals Offshore Return

Major oil producers pushed up high bids at a Gulf of Mexico offshore auction to $121 million on Wednesday, a nearly seven-fold increase from a year ago, as their return to deep water exploration gained momentum. This compared with $18 million…

Floating Production Systems Report And Online Database

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Bilge Keel Damping from In-field Motion Measurements

Chevron and MARIN worked together on a novel approach to characterize the actual damping for an FSPO in real world conditions. Results show that using damping from model tests means that roll decay in calm water is conservative and that natural…

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Hedge Funds Gamble for a Third Time on Oil Rebalancing

"If at first you don't succeed, try, try, try again," goes the proverb used to encourage students. Hedge fund managers are becoming bullish towards crude oil and refined fuels for the third time this year and must be hoping the signs of market…

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Wison Granted AIP for Its Innovative Floating LNG Storage

Wison Offshore & Marine announced that it has received Approval in Principle (AIP) from Bureau Veritas for its newly-developed large-scale Floating LNG Storage and Regasification Terminal. Featuring scalable storage capacity up to equivalent size of a Q-Max…

Petrobras Expects $17 Bln Investment, $8 Bln Divestitures this Year

Brazil's state-controlled Petróleo Brasileiro SA has targeted spending $17 billion in investments and selling $8 billion worth of assets this year, a presentation by the oil company published on Friday said. The presentation explaining second…

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Ecochlor BWTS Receives USCG Type Approval

Ecochlor's patented BWTS has received USCG Type Approval. The Ecochlor BWTS uses a two-step process that includes filtration and treatment with chlorine dioxide (ClO2). It is completely effective on all aquatic invasive species regardless of water turbidity, salinity or temperature.

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SBM Offshore Raises Outlook Buoyed by Seepwater Spending

SBM Offshore, a Dutch provider of floating oil and gas production vessels, raised its core earnings guidance on Wednesday citing clients slowly spending more on deepsea projects. "Deepwater is becoming attractive again. It's on a par from an economic standpoint with shale oil…

Pemex Seeks Oil Projects in Americas

Mexico's Pemex is looking for oil projects in the United States, Brazil, Colombia and Argentina to keep up output after an energy reform that means it is sharing more domestic production, a top executive from the state-run oil company said on Wednesday.

Shell to Invest $38 Mln in Brazil R&D

The Brazilian unit of Royal Dutch Shell Plc estimates it will invest around 120 million reais ($38 million) in research and development in the country this year, said André Araújo, head of Shell Brazil unit, on Wednesday. (Reporting by Marta Nogueira and Alexandra Alper; Editing by Chizu Nomiyama)

Petrobras CEO: Pre-salt Oil Extraction Costs $8 Per Barrel

Oil extraction in Brazil's promising pre-salt offshore wells costs about $8 per barrel, Petroleo Brasileiro SA Chief Executive Officer Pedro Parente said at an event on Tuesday. Parente also said the state-controlled company's new fuel pricing…

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DNV GL's Tørstad Talks Energy Trends

When Elisabeth Tørstad took the helm as CEO of DNV GL - Oil & Gas in late 2013, the price of a barrel of NYMEX (WTI) crude oil was more than $100. Today, that price has been halved, and the 40-month period between her ascension to the top post…

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Simulated Maneuver of Shell’s Prelude FLNG Facility

At 488m in length, and longer than four football pitches, Shell’s Prelude FLNG facility was always going to represent a formidable challenge even for the skilled tug masters who were charged with towing the facility from the shipyard in South Korea where it was constructed…

Brazil Pre-salt Output Surpasses other Production in June

Brazil oil production rose 0.8 percent in June from May to an average of 2.675 million barrels per day, as output from pre-salt offshore wells surpassed the combined volumes from all other fields in the country for the first time. The production…

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Wison Delivers FLNG Barge

Wison Offshore & Marine (“Wison”) has announced that the company has completed the final delivery for the world’s first barge-based floating natural gas liquefaction and storage facility (Caribbean FLNG). Prior to the delivery, the contracts for project financing provided by Bank of China…

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Shell Adjusts to Low Priced Oil, Even as Profits Soar

Shell 'getting fit' to live with oil at $40/bbl -CEO. Royal Dutch Shell is gearing up for a world of "lower forever" oil prices, its Chief Executive Ben van Beurden said on Thursday, after the company's profits tripled in the second quarter.

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FSRUs Provide Better Return Than LNG Carriers - Drewry

Despite falling freight rates for floating storage regasification units (FSRUs), investment returns at current asset prices and charter rates are higher compared with standard LNG vessels, according to the latest edition of the LNG Forecaster report published by global shipping consultancy Drewry.

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Proserv Secures Decommissioning Work in Asia Pacific

Energy services company Proserv has been awarded a series of contracts worth around $4m for its well severance, platform and FPSO decommissioning services in the Asia Pacific region. The contracts have been awarded by Premier Oil in Indonesia…

Mexico Sets Next Deep-water Oil, Gas Tenders

Mexico's oil regulator, the National Hydrocarbons Commission, set Jan. 31 as the date for the next round of auctions for deep-water oil and gas tenders in the Gulf of Mexico. The so-called 2.4 auctions will offer 30 areas, of which 10 are in the Cordilleras Mexicanas deepwater basin…

CGG Wins Petrobras Data Processing Contract

CGG said it was awarded a contract from Petrobras to process the seismic data from a 3D Ocean Bottom Node (OBN) survey covering a full-fold area of 2,180 km2 in Brazil’s deepwater Santos Basin. This will be the largest node survey ever acquired and processed in the industry.

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