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Petrobras Delays Bids for Offshore Platform

Brazil's state-run oil company Petrobras has delayed by 90 days the deadline for bids to build a production platform in the Itapu field in Santos Basin after a sharp drop in oil prices and concerns about the impact of the COVID-19 pandemic, two people familiar with the matter told Reuters.

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Guyana's Oil Output Rises 58%

Guyana's oil output rose 58.2% to 56,320 barrels per day (bpd) in January, up from 35,607 bpd in December, the South American country's finance ministry said in a report published this week. The government is still working with the consortium…

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Energean Power FPSO Hull Leaves China

Mediterranean Sea-focused oil and gas company Energean Oil and Gas has informed that its Energean Power FPSO Hull sailed away from the COSCO yard in China on Friday, April 3, 2020. The hull will now be towed to the Sembcorp Marine Admiralty Yard in Singapore…

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Petrobras to Double Oil Output Cuts Amid "Worst Oil Industry Crisis in 100 Years."

Brazil's Petrobras will double its oil output cuts to 200,000 barrels per day, or about 6% of total production, and shorten work hours as the state-controlled company responds to what its chief executive has called the "worst oil industry crisis in 100 years." Petroleo Brasileiro SA…

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Aker Energy Delays Ghana Offshore Project 'Indefinitely'

Ghana's President Nana Akufo-Addo in February said he expected Norwegian oil firm Aker Energy to make a final investment decision on the Pecan offshore development "within a month or two." The wait is now set to be prolonged "indefinitely." Namely…

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CNRI Files Removal Plan for Two North Sea Floaters

CNR International (CNRI) has filed plans for the removal of the Petrojarl Banff FPSO and the Apollo Spirit FSO, from its Banff and Kyle fields in the North Sea. Apart from the two floaters, CNRI will also remove the associated risers and mooring systems.

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Brazil: FPSO Charter Ends 5 Years after Deadly Explosion

FPSO leasing company BW Offshore has informed that a charter for FPSO Cidade de Sao Mateus has expired. The FPSO was involved in an explosion in February 2015, an incident in which nine workers were killed, and 26 others injured. There were…

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Yinson, Petrobras Sign Firm Contracts for Marlim 2 FPSO

Malaysian FPSO provider Yinson has signed firm contracts with Petrobras for the delivery and for operation and maintenance of the Marlim 2 FPSO. The two companies had in October 2019 signed letters of intent for the long-term charter and operation…

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FAR Struggling to Secure Cash for Sangomar Development

Australian oil company FAR, a partner in the recently sanctioned Woodside-operated Sangomar offshore oil field in Senegal, has said that its ability to secure a loan for its part of Sangomar capex has been compromised by the coronavirus pandemic and oil price crash.

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Oil Crash Puts Africa's Cash-Strapped Producers in Peril

Collapsing oil prices have left African producers facing not only lost revenue when they most need it to tackle coronavirus, but also a fall in hard-won market share they may never regain. The continent's producers such as Nigeria, Angola and…

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Teekay in Ten-Year FPSO Contract with BP

Teekay Corporation has secured a ten-year contract for its 1996-built Petrojarl Foinaven FPSO with Britoil Limited, a BP subsidiary, at the Foinaven field west of the Shetland Islands in the UK. Under the terms of the contract, Teekay is expected…

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Aoka Mizu FPSO Worker Tests Positive for COVID-19

Oil and gas firm Hurricane Energy has confirmed that a crew member on the Aoka Mizu FPSO off the UK has tested positive for COVID-19. Hurricane said Friday that the worker "has been evacuated to the mainland for medical reasons and subsequently…

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Woodside Halves Spending Plans. Delays Scarborough, Browse FIDs

Woodside Petroleum halved its forecast spending for 2020 and deferred go-ahead decisions for its two biggest gas projects to ride out the pain of the coronavirus pandemic and plunging oil prices. Australia's top independent gas producer said…

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Covid-19 and Cheap Oil to Hit African pre-FID Oil Projects

Norwegian energy intelligence firm Rystad Energy expects that majority of Africa’s top planned oil and gas projects that were expecting final investment decisions under an oil price assumption of between $55 and $60 per barrel will be hit hard by the current oil prices and coronavirus impact.

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Golar Taps Oceaneering for FLNG Inspection and Maintenance

Offshore energy services provider Oceaneering has been awarded a contract by Golar LNG for an FLNG vessel maintenance build, and inspection and maintenance program. The scope of work includes an asset register build, a full maintenance build program…

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Woodside, Partners in Talks over $4.2B Sangomar Project Timing

Woodside Petroleum and its partners are in talks on the timing of their $4.2 billion Sangomar oil project off Senegal, with coronavirus restrictions and collapsing oil prices hampering work on the project. Woodside, Cairn Energy Plc, FAR Ltd…

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Only a Handful of FPS to Be Ordered in 2020, Down from 18 Expected

Energy intelligence company Wood Mackenzie has downgraded its expectations when it comes to new orders for floating production systems in 2020, citing the oil price crash. Mhairidh Evans, principal analyst in Wood Mackenzie’s upstream supply…

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New Oil and Gas Project Spending to Fall 68% in 2020 if Oil Price Stays Low

Oil and gas project sanctioning in 2020 could drop almost 70% compared to 2019 if the oil prices remain in the $30 a barrel area, Norway-based Rystad Energy said in an analysis on Monday. "The effect of the COVID-19 virus on global demand for oil and gas…

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Teekay Offshore Changes Name

Teekay Offshore Partners L.P., a provider of offshore oil production and storage vessels for the offshore oil and gas industry, has changed its name. The company announced Tuesday its name has changed to Altera Infrastructure L.P. effective 24 March 2020.

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U.S. to send envoy to Saudi Arabia to Stabilize Oil Prices

The Trump administration plans to send a special energy envoy to Saudi Arabia to work with the kingdom on stabilizing the global oil market, officials said on Friday, as the U.S. scrambles to deal with a price crash so deep that regulators in…

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