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Exxon Signals Fourth Quarterly Profit in a Row
Exxon Mobil Corp on Thursday signaled a return to annual profit for 2021 as stronger oil and gas prices drove a gain of up to $1.9 billion in operating profits that exceeded one-time charges. The largest U.S. oil producer issued a snapshot of…
Guyana Approves Wealth Fund, Local Content Rules for Expected Oil Boom
Guyana's parliament on Wednesday approved local content rules for oil producers and a sovereign wealth fund to oversee the South American nation's earnings from a budding oil bonanza. International oil producers have discovered 10 billion barrels…
Petrobras Declares Commercial Viability at Four Offshore Concessions
Brazilian state-run oil company Petrobras has declared four offshore concessions in the states of Alagoas and Sergipe commercially viable in presentations to the nation's oil regulator, it said in securities filing on Thursday. The company has…
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Oil Prices Hold Near $80 on Tight Supply and Stocks Drop
Oil prices held close to $80 a barrel on Wednesday as global supply outages and declining U.S. inventories offset worries that rising coronavirus cases might reduce demand. Brent crude rose to as much as $79.20 a barrel before retreating to trade 24 cents down on the day at $78.70 by 1427 GMT. U.S.
How to Reduce Risk Across the Lifecycle of Floating Production Assets
Using digital transformation to mitigate risks and increase performance of offshore rigs Floating production storage and offload vessels (FPSOs) are among the largest investment trade-offs an oil and gas producer will make. On the one hand,…
PetroRio Pressing Ahead with Wahoo Development Offshore Brazil
Brazilian oil firm PetroRio has said it has filed with Brazil's National Petroleum Agency (“ANP”) the Declaration of Commerciality of the Wahoo discovery, as well as the Development Plan in exclusive operations. The Wahoo discovery is located at the C-M-101 Block…
Yinson, Enauta Pen LoI for Atlanta Field FPSO
Malaysian FPSO contractor Yinson has signed a Letter of Intent with the Brazilian oil company Enauta Energia for the provision, operation, and maintenance of an FPSO at Enauta's Atlanta field in the Santos Basin, offshore Brazil. Enauta has…
TotalEnergies, QatarEnergy, Petronas Win Sépia Field Rights (Brazil)
Malaysian oil firm Petronas said Friday it had with its consortium partners won the rights to the Sépia field, located in the Santos Basin, during Brazil’s Second Transfer of Rights Surplus Volume Bidding Round held in Rio de Janeiro. Sépia is a pre-salt oil field in the Santos Basin…
FPSO for Greater Tortue Gas Project Due in Senegal by end-2022
BP's floating, production, storage, and offloading vessel (FPSO) for the Greater Tortue Ahmeyim gas project offshore West Africa is expected in Senegal waters for commissioning and testing by the end of 2022, a company executive said on Friday.
OMV Exits Barents Sea Oil Field With $320M Sale to Lundin Energy
Austrian oil and gas company OMV has completed the sale of its stake in the Wisting oil field in the Barents Sea, offshore Norway, to Lundin Energy. The two companies had signed the sale and purchase agreement in October 2021, and after obtaining the necessary approvals from Norwegian authorities…
Kongsberg Maritime Upgrades Alvheim FPSO's Safety and Automation Systems
Kongsberg Maritime said Thursday it had successfully upgraded the safety and automation systems on Aker BP's Alvheim FPSO in Norway. Formerly a tanker named Odin, the vessel was converted into an FPSO in 2008 and renamed Alvheim in recognition of the oil field in which it operates…
ABS Launches Floating Production Life Extension Guide
American Bureau of Shipping has further developed its approach to aging offshore assets with the publication of the Guide for Life Extension of Floating Production Installations. ABS said that the guidance supported operators looking to extend…
Excelerate Sequoia FSRU Starts Operations in Brazil
Excelerate Energy has started natural gas deliveries to the Brazilian market at the Bahia Regasification Terminal (TR-BA) in Salvador, Bahia, in Brazil. Excelerate's floating storage and regasification unit (FSRU) Excelerate Sequoia, which has an LNG storage capacity of 173…
Brazil Energy Council Puts 11 Pre-salt Blocks on Permanent Offer
Brazil's energy policy council CNPE authorized oil regulator ANP to put 11 pre-salt blocks in the Campos and Santos basins up for sale permanently, with a total signing fee estimated at 1.3 billion reais ($233 million), the government said on Thursday.
Petrobras, SBM Offshore Strike Mero 4 FPSO Charter Deal
Brazilian oil company Petrobras has signed contracts with the Dutch FPSO specialist SBM Offshore for the chartering and provision of services of the FPSO Alexandre de Gusmão. This will be the fourth definitive floating production system to be installed in the Mero field…
BP Starts Production at Angola's Platina Oilfield
BP said on Thursday it had started production at the Platina oilfield offshore Angola, helping Africa's second biggest oil exporter slow a decline in output. The Platina field will be linked to BP's existing Greater Plutonio floating production…
SHI Demos SENSE IV, Its Own Natural Gas Liquefaction Process
Samsung Heavy Industries announced on November 18 that it successfully held a demonstration ceremony at the Geoje shipyard for "SENSE IV (SAMSUNG Enhanced Nitrogen Split Exapnsion IV)", SHI's in-house natural gas liquefaction system. The demonstration…
PJV to Equip Brazil-bound FPSO Duo with Valves
PJ Valves (PJV), a manufacturer and supplier of valves for the energy industry, has secured orders to supply valves for two FPSOs in Brazil. One of these FPSOs is planned to be one of the largest offshore oil producing units in the world. The FPSO…
Guyana to Request Stronger Financial Guarantees from Oil Operators
Guyana is getting ready to raise requirements on oil operators to protect the nation against spills and future removal costs of production platforms, the head of its environmental agency told Reuters. Guyana currently requires financial assurance…
80 New Jobs in Aberdeen: PD&MS to Modify Dana Petroleum's FPSOs
Engineering and construction company PD&MS Group has secured a contract to carry out modifications on Dana Petroleum's Triton and Western Isles FPSOs in the UK North Sea. The contract, of an undisclosed value, is expected to create up to 80 new jobs at its Aberdeen base.
SBM Offshore to Build Fourth FPSO for Exxon in Guyana
Dutch FPSO specialist SBM Offshore has won contracts to perform Front End Engineering and Design (FEED) for an FPSO for Exxon's Yellowtail development offshore Guyana. The FEED contract for what will be Guyana's fourth FPSO, and fourth delivered by SBM Offshore…