Stories

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First LNG Cargo Exported from Ichthys

October 23, 2018

French oil and gas major Total said on Tuesday that the first cargo of liquefied natural gas (LNG) cargo from Australia's Ichthys LNG project has been exported following the production start-up at the end of July. Ichthys LNG, with reserves…

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Kvaerner Eyes Growth, Mergers as Profits Decline

October 23, 2018

Kvaerner, a Norwegian builder of oil platforms, aims to increase its revenue by some 40 percent by 2022 by expanding abroad, the company said on Tuesday after reporting a sharp decline in third-quarter earnings that drove down its shares. Kvaerner's quarterly earnings before interest…

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Drydocks World Completes FPSO Upgrade, Turret Mooring Project

October 23, 2018

Drydocks World has recently completed two projects for Bluewater Energy Services B.V. and end client Hurricane Energy plc. The projects included the refurbishment, life extension and upgrade of the FPSO Aoka Mizu vessel, and the construction of a Turret Buoy weighing over 1,000T.

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Petrobras Receives $149 Mln from SBM in Leniency Deal

October 22, 2018

Brazilian state-run oil company Petroleo Brasileiro SA has received an initial payment of 549 million reais ($148.92 million) from Dutch marine engineering group SBM Offshore as part of a 1.22 billion-real leniency deal, the Brazilian government said on Monday.

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ABS Awards AIP to HHI’s Standardized FPSO Topside

October 21, 2018

The global provider of classification and technical advisory services to the marine and offshore industries ABS granted Approval in Principle (AIP) to Hyundai Heavy Industries’ (HHI) Standardized design for a Floating Production Storage and Offloading (FPSO) facility.

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Aker BP Q3 Operating Profit Beats Forecast

October 19, 2018

Aker BP's third-quarter operating profit rose more than expected, helped by a boom in oil prices, the Norwegian oil firm said on Friday, while reducing planned capital and exploration spending. Earnings before interest and taxes (EBIT) rose…

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Van Oord Bags Husky Energy's West White Rose Project

October 19, 2018

Dutch offshore and dredging services specialist Van Oord has been awarded the contract to carry out offshore installation works for the West White Rose Project of the east coast of Newfoundland, Canada. The project will give Canadian oil company…

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SDX Terminates Talks Over BP's Egyptian Assets

October 19, 2018

North Africa-focused oil company SDX Energy has terminated talks for a potential acquisition of assets in Egypt from the oil giant BP. A press release from SDX announed that further to the announcement made on 20 September 2018, discussions…

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Hoegh Gallant Leaves Egypt, Sets US Destination

October 18, 2018

Liquefied natural gas (LNG) tanker Hoegh Gallant has left its mooring in Egypt, where it had been used as a floating import terminal since 2015, and set course for the U.S. Sabine Pass production facility, according to Refinitiv Eikon data.

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LNG Investment Set to Grow

October 18, 2018

Following years in the pricing doldrums, LNG is hot again, with business prospects for floating production and regasification looking strong through 2023. We talk to Jim McCaul of International Maritime Associates (IMA) for his insights, as…

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Hoegh LNG Vessel to Leave Egypt Before Weekend

October 16, 2018

Egypt's petroleum minister said on Tuesday that a regasification vessel would leave Egypt by the end of the week, a day after Norway's Hoegh LNG said Egypt was to give up one of its two floating liquefied natural gas (LNG) terminals. The minister…

Shell Attains Break-even costs of $30-$35 per Barrel in Brazil

October 16, 2018

Royal Dutch Shell, Brazil's No. 2 oil producer, has attained break-even costs of $30-$35 per barrel in the South American country, its Brazil manager Andre Araujo said on Tuesday. (Reporting by Alexandra Alper; Editing by Bernadette Baum)

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Hurricane FPSO Leaves Dubai After Upgrade, Shetlands First Oil Seen in H1

October 15, 2018

The Aoka Mizu floating production, storage and offloading (FPSO) vessel ordered by Hurricane Energy has left Dubai following a series of upgrades, the company said, another milestone for the group as it seeks to extract so-called fractured basement oil in Britain.

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HHI to Build FPS for LLOG Exploration

October 11, 2018

South Korean shipbuilder Hyundai Heavy Industries (HHI) has been awarded a contract to build a floating production system (FPS) for LLOG Exploration of the U.S. HHI, the world's biggest shipbuilder by orders, said in a stock exchange announcement…

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Tullow Hires Subsea 7 for Offshore Ghana

October 11, 2018

Subsea 7 S.A. announced the award of a contract by Tullow Ghana Limited on the Jubilee field, offshore Ghana, in water depths of up to 1000 meters. According to a press release from the London-headquartered subsea engineering company, the engineering…

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Shell Sees Nigeria Corruption Trial Lasting Many Months

October 11, 2018

Royal Dutch Shell expects a landmark corruption trial over a Nigerian oil deal to last many months, warning staff of continued critical media coverage in the $1.3 billion case, according to an internal memo seen by Reuters. Shell's Legal Director…

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AGL LNG Import Project Slowed by Environment Review

October 10, 2018

Plans by Australia's AGL Energy to start importing liquefied natural gas from 2021 will be delayed after the state of Victoria called for the company and its pipeline partner to submit a full environmental assessment of their project. The review process typically takes nine to 12 months…

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Yinson's Knock Allan FPSO Contract Terminated

October 10, 2018

Malaysia’s Yinson Holdings Bhd has received the termination of an FPSO contract for its Knock Allan FPSO located on the Olowi field offshore Gabon. The oil and gas services company said in a press release that the contract with Canadian Natural Resources (CNR) International (Olowi) Ltd…

Natural Gas is Here to Stay, Big Oil Says

October 9, 2018

Energy companies are betting demand for natural gas will rise at break-neck pace for decades, undermining warnings that tackling climate change would require a rapid switch to renewable energy. Top oil companies including Royal Dutch Shell,…

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New Book Release: Why Only Two FPSOs in the U.S. Gulf of Mexico?

October 9, 2018

The Late Start and Twenty Year Saga. More than 40 years have passed since the trailblazing Shell Castellon started operation as the first floating production storage and offloading (FPSO) unit in 1977. Ever since, hundreds of these vessels have operated worldwide…

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British North Sea Oil Costs, Spending on the Rise

October 9, 2018

The costs and operating expenditure needed to produce oil and gas in the British North Sea are set to rise both in overall and in per-barrel terms this year compared with 2017, the country's regulator for the sector said on Tuesday. Overall…

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