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Timeline: Occidental's Anadarko Victory

Before Occidental Petroleum Corp clinched a deal on Thursday to buy Anadarko Petroleum Corp for $38 billion, it pursued its U.S. oil and gas exploration and production rival for nearly two years, culminating in the sector's most high-profile public contest since the 1980s.

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Brazil Sets Parameters for Mega Oil Auction

Brazil's national energy council on Thursday published updated parameters for a massive oil auction scheduled for later this year, including minimum levels of profit-sharing with the government, while also urging a shakeup in the refinery sector.

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Ghana's Pecan Field Approval Seen by Q3

Aker ASA expects Ghanaian authorities to approve a revised $4.4 billion development plan for the offshore Pecan oilfield by the end of the third quarter of 2019, the Norwegian investment firm's chief executive told Reuters on Friday. The company…

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Semco Chosen for 'Energean Power' FPSO

TechnipFMC has chosen Semco Maritime to deliver telecommunication systems, topside firefighting equipment and safety equipment for the ‘Energean Power’ FPSO for the Karish & Tanin fields, offshore Israel. As a total systems integrator Semco…

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Emerson Scores BP Contract

Emerson said it  has been awarded a five-year contract with BP to provide predictive maintenance and operational support services to ensure safe, optimized production from its Clair Ridge platform and Glen Lyon floating production, storage and offloading (FPSO) vessel.

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Oxy Would Sell Anadarko Africa Assets to Total

France's Total SA said on Sunday it has agreed with Occidental Petroleum Corp to acquire the African assets of Anadarko Petroleum Corp for $8.8 billion, should the two U.S. oil and gas companies clinch a deal to combine. The agreement with Total…

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Petrobras Production Slips

Oil production by Petroleo Brasileiro SA fell 3.5 percent in the first quarter from the same period a year before, according to Brazil's oil regulator ANP, which attributed the fall to a number of scheduled and unscheduled stoppages. In a statement…

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Exxon Funds Liza Phase 2 off Guyana

ExxonMobil has funded the Liza Phase 2 development offshore Guyana after it received government and regulatory approvals, the supermajor announced on Friday. Exxon said startup at Liza Phase 2 is expected in mid-2022, producing up to 220,000 barrels of oil per day from the deepwater Stabroek Block…

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Shell Outperforms Rivals in Q1

Royal Dutch Shell reported on Thursday a small drop in first quarter profit to $5.4 billion, but still easily beat forecasts, helped by stronger trading and liquefied natural gas earnings. Shell's results outshone those of rivals Exxon Mobil…

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Teekay Gets Refinance for FPSO Fleet

The international midstream services provider to the offshore oil production industry Teekay Offshore Partners announced  that it has secured a new $100 million revolving credit facility for the Piranema Spirit, Voyageur Spirit, and Petrojarl Varg FPSO units.

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Lankhorst Mooring Lines for Energean Power

Deepwater mooring rope manufacturer Lankhorst Offshore announced Wednesday it has been awarded a contract by TechnipFMC to supply the mooring lines for the Energean Power floating production, storage and offloading unit (FPSO) for the Karish and Tanin gas fields…

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Aker Energy Extends FPSO Dhirubhai-1 Charter

The oil and gas company Aker Energy AS, a 50-50 joint venture between Aker ASA and TRG AS, has paid to extend an option it has for the long-term charter of Ocean Yield’s FPSO Dhirubhai-1. A press release said that on the 12th of February 2019…

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Allan Joins Marine Technical Limits

Floating production, storage and offloading unit (FPSO) and marine integrity management specialists Marine Technical Limits (MTL) said on Tuesday it has welcomed a senior naval architect to its team. Paul Allan, who has more than 10-years’ experience…

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Ichthys Ramps Up Output

A tanker carrying liquefied natural gas (LNG) has been floating off Australian waters for nearly two weeks as production at Ichthys project ramps up, industry sources told Reuters. The tanker 'Symphonic Breeze' has been moored at Darwin anchorage…

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Exxon Eyes Brazil Transfer-of-rights Area

ExxonMobil Corp is studying a possible purchase of production rights in Brazil's so-called transfer-of-rights area - one of the world’s most promising offshore oil areas - although no decision has yet been made on the matter, an executive said on Friday.

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Maersk Supply Wins FPSO Mooring Project

Offshore support vessel operator Maersk Supply Service announced that it has been awarded a major FPSO mooring project for a U.S. oil major in the Gulf of Guinea. The  provider of offshore marine services to the oil and gas industry said in a statement that…

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Maersk Wins FPSO Mooring Work

Maersk Supply Service said it has been selected to deliver an integrated floating production storage and offloading (FPSO) mooring installation and replacement solution for an American oil major in the Gulf of Guinea. The offshore services company…

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Petrobras to Record $326 Mln Writedown Due to Rig Dispute

Brazilian state-run oil firm Petroleo Brasileiro SA will record a 1.3 billion-real ($326 million) provision in its first-quarter results due to an ongoing dispute with a bankrupt rig lessor, it said on Thursday. In a securities filing, Petrobras…

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Bumi Armada Refinances Debts, Plans Vessels Sale

Malaysia's offshore energy vessels and services provider Bumi Armada has refinanced US$660m of its short-term debts to improve its balance sheet and is looking to sell some vessels. In a statement today, the offshore energy facilities and services…

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Eni Q1 Profit Misses Forecast

Italian energy group Eni stuck to its production growth targets for the year on Wednesday, as it reported profits for the first quarter coming in below market expectations. Adjusted net profit in the quarter rose 4 percent to 992 million euros ($1.1 billion)…

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Sonangol Plans to Downsize

Angola's state oil company Sonangol plans to divest 52 joint ventures, reduce staff and focus on its core business, part of an ongoing reorganization and package of reforms designed to lure back investors, its chairman said on Friday. "We are going to sell…

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