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DryShips VLGC Commences Time Charter

DryShips Inc., an owner of ocean going cargo vessels, announced that on June 29, 2017, its first very large gas carrier (VLGC) commenced its time charter on a fixed rate with five years firm duration to an oil major. The charterer has options…

OPEC Oil Output Jumps to 2017 High as Nigeria, Libya Pump More

OPEC oil output has risen in June by 280,000 barrels per day (bpd) to a 2017 high, a Reuters survey found, as a further recovery in supply from the two member countries exempt from a production-cutting deal offset strong compliance by their peers.

BP Takes $750m Hit in Angola Exploration Write-off

BP said on Thursday it will incur a $750 million write off in its second quarter 2017 results over exploration blocks it relinquished in Angola. "As part of the ongoing portfolio evaluation, BP has decided to relinquish its 50 percent interest in Block 24/11 offshore southern Angola.

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Shell's FLNG Facility Sets Sail for Australia

Royal Dutch Shell's Prelude floating liquefied natural gas (FLNG) ship has left a shipyard in South Korea for its destination offshore northwest Australia, the company said on Thursday. Shell's $12.6 billion Prelude project is expected to start operating next year…

Keppel Bags $85 Mln Conversion and Repair Projects

Keppel Offshore & Marine Ltd (Keppel O&M) has through its wholly owned subsidiary, Keppel Shipyard Ltd (Keppel Shipyard), won four contracts worth a total of $85 million for the conversion, repair and modification of vessels. The first contract is from Dixstone Holdings Ltd…

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China Cash Boosts African FLNG Projects

China aims to become lowest-cost seller of FLNG plants; its shipyards to build floating plants for African projects. China plans to pour almost $7 billion into floating liquefied natural gas (FLNG) projects in Africa, betting on a largely untested…

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Aker Solutions to Supply Umbilicals Coral South FLNG

Aker Solutions was awarded a contract to deliver three umbilicals and associated equipment at ENI's Coral South project, Mozambique's first offshore field development. The work scope includes three steel tube umbilicals that will total more…

Seabed Geosolutions Wins Brazil Survey Work

Fugro said its joint venture with CGG has secured a contract from Petrobras for a 3D ocean bottom node (OBN) survey in the Brazilian Santos Basin. The seven month contract awarded to the survey firms’ joint venture Seabed Geosolutions is valued…

SBM Offshore Awarded Liza FPSO Contract

SBM Offshore said it has secured contracts from ExxonMobil to construct, install, lease and operate a floating production, storage and offloading vessel (FPSO) for the next phase of the Liza project in Guyana. The contracts follow completion…

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Oil at 10-month Low after Biggest First Half Slide in 20 Years

Oil prices ended down more than 2 percent on Wednesday after hitting a 10-month low in volatile trade, as growing U.S. production and reduced Chinese refinery activity fed mounting concern over the stubborn global crude glut. U.S. crude futures settled at $42.53…

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Offshore Gas Safety atop the Agenda for Martek Marine

Maritime industry technology specialists Martek Marine say it is setting the bar high when it comes to offshore gas safety. The company has developed a first-of-its-kind gas sampling system for a new moored floating production unit, which forms…

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Oil Prices Pause after Sharp Falls

Oil prices edged higher on Monday, pausing for breath after coming under pressure over the past month from rising production in the United States, Libya and Nigeria, which has taken the edge off an OPEC-led initiative to support the market by cutting production.

Mexico Auctions Two-thirds of Blocks in Shallow Water Oil Tender

Mexico on Monday auctioned two-thirds of the shallow water oil and gas blocks up for grabs in the latest round of its energy market opening, surpassing the cautious estimates of officials last week. Italy's Eni, Colombia's Ecopetrol and Capricorn Energy…

Petrobras Oil Output Jumps 4% in May

Brazil's Petrobras produced 2.18 million barrels per day of crude oil on average in May, a 3.9 percent increase over the prior month, the state-owned company said on Monday. Natural gas production rose 0.5 percent to 78.9 million cubic meters per day, Petrobras added.

Exxon to Develop Liza Field Offshore Guyana

Exxon Mobil Corp, the world's largest publicly traded oil company, said on Friday it would proceed with the development of the Liza oil field, located offshore Guyana. Production from the field, one of the largest oil discoveries of the past decade, is expected to begin by 2020, Exxon said.

Exxon, Partners Set $4.4 Bln for Oil Project Offshore Guyana

Exxon Mobil Corp said on Friday it and partners would spend $4.4 billion to develop part of the Liza oilfield off the coast of Guyana, approving a megaproject at a time when the oil industry has grown obsessed with lower-cost shale. Exxon's…

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LR Verifies BP FPSO Glen Lyon

The Glen Lyon floating production storage and offloading (FPSO) vessel, BP’s newest North Sea asset, was awarded full-term classification certificates for service in the Schiehallion and Loyal fields, 175 km west of Shetland. Conditions west…

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TechnipFMC & the Future of 'Super-profit Oil'

TechnipFMC’s Andersen discusses the way forward now that “super-profit oil” is over. Ann Kristen Andersen heads up oilfield projects as offshore services and equipment supplier TechnipFMC’s managing director for Norway and Russia. She started her job on the first day of February 2017…

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Egina FPSO to Arrive in Nigeria

On a recent visit to South Korea to inspect the Egina FPSO project, and FPSO scheduled to arrive in Nigeria in August 2017, Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside said the ongoing…

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World First: Commercial Onshore Remote WROV Ops

Norwegian ingenuity in the subsea space strikes again, as IKM Subsea, based in Bryne, Norway, has opened what it believes is the world’s first commercial onshore controlled ROV operations. In the near future up to three Work class ROVs and one…

Statoil Aims to More than Triple Brazil Output

Norwegian oil and gas firm Statoil aims to more than triple its production in Brazil and will seek to become operator for the entire Carcara discovery, among the world's biggest in recent years, the firm's country manager said. Statoil has invested more than $10 billion in Brazil…

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