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Prelude FLNG Enters into Lloyd’s Register Class
Shell’s floating liquefied natural gas (FLNG) facility Prelude has officially entered into Lloyd's Register (LR) class. At 488 meters long, 74 meters wide and displacing about 600,000 tonnes of water, Prelude is the largest floating offshore facility in the world.
Chevron CEO John Watson to Step Down
Chevron Corp Chief Executive John Watson is stepping down from his post atop the nation's second-largest oil company, according to a report from the Wall Street Journal. A successor for Watson, 60, who has been the company's chairman and chief executive since 2010…
Former CEO of Brazil's Petrobras Charged with Corruption
Brazilian prosecutors on Tuesday charged the former chief executive officer of state-controlled oil company Petroleo Brasileiro with corruption, alleging he used his position to take bribes from construction firm Odebrecht. Aldemir Bendine served as CEO of Petrobras…
Floating Liquefaction and Regasification Report And Online Database
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Total Overtakes Shell in North Sea Production
Majors still control three quarter of output; even after $10 bln of deals, private equity still plays only modest role. French oil major Total has overtaken rival Royal Dutch Shell to become the second-largest producer in the North Sea with…
Gunvor Awarded Fortuna FLNG Offtake
The Ministry of Mines and Hydrocarbons (MMH), Ophir Equatorial Guinea (Block R) Ltd, OneLNG SA and La Compania Nacional De Petroleos De Guinea Ecuatorial (GEPetrol) have nominated Gunvor Group Ltd (Gunvor) as its preferred LNG Buyer for offtake from the Fortuna FLNG project.
Brazil Extends Oil Industry 'Perks' Through 2040
Brazil on Friday extended through 2040 a preferential customs regime for the oil and gas industry called Repetro, which was set to expire in 2019, as it seeks to entice investment ahead of key auctions later this year. The move was accompanied…
Damen Shiprepair Rotterdam Completes the Refit of Petrojarl 1
On the August 18, 2017, Damen Shiprepair Rotterdam (DSR) has delivered the FPSO Petrojarl 1 to Teekay Offshore following a complete redeployment project taking place over the past 2 ½ years. The Petrojarl 1 has been operated by Teekay for 28…
Golar LNG Partners in FLNG Hilli Episeyo Stake Acquisition
Golar LNG Partners announced that it has entered into a purchase and sale for the acquisition from Golar LNG Limited and affiliates of Keppel Shipyard and Black and Veatch of equity interests in Golar Hilli LLC, which will, on the closing date of the Acquisition…
Latest Gulf of Mexico Auction Signals Offshore Return
Major oil producers pushed up high bids at a Gulf of Mexico offshore auction to $121 million on Wednesday, a nearly seven-fold increase from a year ago, as their return to deep water exploration gained momentum. This compared with $18 million…
Shifting Oil Market Dynamics Key to Tanker Trade Prospects -MSI
The Q3 2017 tanker market is proving vexatious for owners still struggling with the effects of fleet oversupply. But in its latest monthly forecast, Maritime Strategies International (MSI) observes that changing trade patterns could help stabilize the market toward year-end and into 2018.
Bilge Keel Damping from In-field Motion Measurements
Chevron and MARIN worked together on a novel approach to characterize the actual damping for an FSPO in real world conditions. Results show that using damping from model tests means that roll decay in calm water is conservative and that natural…
Hedge Funds Gamble for a Third Time on Oil Rebalancing
"If at first you don't succeed, try, try, try again," goes the proverb used to encourage students. Hedge fund managers are becoming bullish towards crude oil and refined fuels for the third time this year and must be hoping the signs of market…
Wison Granted AIP for Its Innovative Floating LNG Storage
Wison Offshore & Marine announced that it has received Approval in Principle (AIP) from Bureau Veritas for its newly-developed large-scale Floating LNG Storage and Regasification Terminal. Featuring scalable storage capacity up to equivalent size of a Q-Max…
Petrobras Expects $17 Bln Investment, $8 Bln Divestitures this Year
Brazil's state-controlled Petróleo Brasileiro SA has targeted spending $17 billion in investments and selling $8 billion worth of assets this year, a presentation by the oil company published on Friday said. The presentation explaining second…
Ecochlor BWTS Receives USCG Type Approval
Ecochlor's patented BWTS has received USCG Type Approval. The Ecochlor BWTS uses a two-step process that includes filtration and treatment with chlorine dioxide (ClO2). It is completely effective on all aquatic invasive species regardless of water turbidity, salinity or temperature.
Pemex Seeks Oil Projects in Americas
Mexico's Pemex is looking for oil projects in the United States, Brazil, Colombia and Argentina to keep up output after an energy reform that means it is sharing more domestic production, a top executive from the state-run oil company said on Wednesday.
Shell to Invest $38 Mln in Brazil R&D
The Brazilian unit of Royal Dutch Shell Plc estimates it will invest around 120 million reais ($38 million) in research and development in the country this year, said André Araújo, head of Shell Brazil unit, on Wednesday. (Reporting by Marta Nogueira and Alexandra Alper; Editing by Chizu Nomiyama)
SBM Offshore Raises Outlook Buoyed by Deepwater Spending
SBM Offshore, a Dutch provider of floating oil and gas production vessels, raised its core earnings guidance on Wednesday citing clients slowly spending more on deepsea projects. "Deepwater is becoming attractive again. It's on a par from an economic standpoint with shale oil…
Petrobras CEO: Pre-salt Oil Extraction Costs $8 Per Barrel
Oil extraction in Brazil's promising pre-salt offshore wells costs about $8 per barrel, Petroleo Brasileiro SA Chief Executive Officer Pedro Parente said at an event on Tuesday. Parente also said the state-controlled company's new fuel pricing…
DNV GL's Tørstad Talks Energy Trends
When Elisabeth Tørstad took the helm as CEO of DNV GL - Oil & Gas in late 2013, the price of a barrel of NYMEX (WTI) crude oil was more than $100. Today, that price has been halved, and the 40-month period between her ascension to the top post…
Simulated Maneuver of Shell’s Prelude FLNG Facility
At 488m in length, and longer than four football pitches, Shell’s Prelude FLNG facility was always going to represent a formidable challenge even for the skilled tug masters who were charged with towing the facility from the shipyard in South Korea where it was constructed…