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Petrobras Sees Layoff Plan Saving up to $9.2 Bln
Brazil's embattled state-run oil company Petroleo Brasileiro SA said on Friday it will launch a voluntary layoff program to cut an estimated 12,000 jobs in a bid to save up to 33 billion reais ($9.20 billion) by 2020. The program will cost 4.4 billion reais and is open to all employees…
IKM Subsea IMR Work for Shell to Commence
IKM Subsea was in 2015 awarded a 5 + 5 year contract by Norske Shell and the work will commence in March. The Merlin UCV ROV is successfully integrated to the Siem Pride and ready to commence services. In addition to the ROV service, IKM Subsea provides IMR related engineering…
Petrobras to Save $500 Mln a Year with Reorganization Plan
State-controlled Petróleo Brasileiro SA, the Brazilian oil producer at the center of a sweeping corruption probe, plans to save 1.8 billion reais ($500 million) a year through a reorganization plan that includes the merger of several business units, job cuts and a streamlining of activities.
Dutch Investigators Visit Shell HQ in Nigeria Oil Probe
Royal Dutch Shell said on Wednesday Dutch investigators recently visited its headquarters in the Hague in the Netherlands in relation to an investigation into a Nigerian offshore oil field. "Representatives of the Dutch Financial Intelligence…
Mammoet Signs up for FPSO Module Integration
Mammoet’s PTC 200-DS ring crane ensures time-efficient and cost-effective approach to Petrobas P-76 FPSO-vessel construction On March 16, 2016, Mammoet Brazil and the Consortium Techint-Technip (CTTP76) signed a contract for the integration…
Italian Prosecutors Probe Shell over Nigeria Oil Deal
Italian prosecutors are investigating Royal Dutch Shell over allegations of international corruption in relation to a big Nigeria oil deal that also involved rival Eni, a judicial source said on Wednesday. Milan prosecutors opened a corruption…
Norwegian Shipowners Face Cash Crunch
Access to capital for cash-hungry Norwegian offshore shipowners is expected to tighten further as lower activity and falling profits continue in 2016, the Norwegian Shipowners' Association said in its yearly outlook report on Tuesday. Since mid-2014…
Mexico Aims to Spur Deep Water Oil Projects
Oil companies operating in Mexico's deep waters must use national suppliers for 8 percent of the projects by 2025, the government said on Tuesday, a relatively low rate meant to encourage foreign and private firms to bid on contracts. Mexico's…
Tokyo Gas Completes Hitachi LNG Terminal
Japan’s Tokyo Gas has completed construction of its Hitachi LNG terminal in Hitachi Port area marking the start of operations. The LNG terminal is equipped with a 230,000-kilolitre LNG tank that can hold about 100,000-110,000 tons of chilled gas.
BOEM Announces Final Rule for Oil and Gas Leasing
The Bureau of Ocean Energy Management’s (BOEM) Final Rule for Leasing of Oil and Gas or Sulfur in the Outer Continental Shelf (OCS) will be published in the Federal Register on March 30, 2016. The final rule updates and streamlines the existing OCS leasing regulations.
BOURBON Invests Heavily in Gas Sector
While BOURBON is undeniably a leader in the offshore marine sector, the current tough offshore environment has led it to diversify its operations in the face of a potentially prolonged down market globally. With that, the company announced the…
Petrobras Sets Shareholder Meeting for April 28
Brazil's state-run oil producer Petroleo Brasileiro SA will hold a shareholder meeting on April 28 to vote on proposed changes to the company's board, the company said in a statement on Monday. The proposal under consideration would extend term lengths for board members to two years…
Oil Prices Rise in Thin Asian Trade after Break
Oil prices rose in early Asian trading on Monday after a three-day break, but volumes were tiny as a number of markets remain on holiday for Easter. U.S. crude's front-month contract was up 37 cents at 39.83 a barrel at 0055 GMT. On Thursday…
Oil Steadies as U.S. Rig Count Drop Offsets Stockpile Worry
Oil prices steadied on Thursday, paring losses after a renewed drop in U.S. oil rigs, but analysts and traders said there could be another selloff in the coming week if U.S. crude stockpiles hit record highs again. Earlier in the day, U.S. crude futures slid 4 percent and Brent below $40 a barrel…
Trump Would consider Halting U.S. Oil purchases from Saudis
Republican presidential front-runner Donald Trump told the New York Times he would consider stopping U.S. oil purchases from Saudi Arabia unless the Saudi government provide troops to fight Islamic State. Trump's comment on Friday was included…
Trump Would consider Halting U.S. Oil purchases from Saudis
Republican presidential front-runner Donald Trump told the New York Times he would consider stopping U.S. oil purchases from Saudi Arabia unless the Saudi government provide troops to fight Islamic State. Trump's comment on Friday was included…
Oil Steadies as U.S. Rig Count Drop Offsets Stockpile Worry
Oil prices steadied on Thursday, paring losses after a renewed drop in U.S. oil rigs, but analysts and traders said there could be another selloff in the coming week if U.S. crude stockpiles hit record highs again. Earlier in the day, U.S. crude futures slid 4 percent and Brent below $40 a barrel…
ABB to Service World's Largest Floating Facility
ABB to secure reliability and availability of equipment on Shell's 600,000 tons gas liquefaction facility ABB announced it has has won a five-year contract to deliver equipment and services for Shell's Prelude FLNG, the world's first floating liquefied natural gas (FLNG) facility…
Marsol Awarded Middle Eastern Contracts
Marsol International, a UAE-based global marine solutions provider focused on the offshore oil terminal market and related infrastructure, has been awarded two contracts in Oman. The first contract involves a Single Point Mooring (SPM) change out…
ABB to Service World's Largest Floating Facility
ABB to secure reliability and availability of equipment on Shell's 600,000 tons gas liquefaction facility ABB announced it has has won a five-year contract to deliver equipment and services for Shell's Prelude FLNG, the world's first floating liquefied natural gas (FLNG) facility…
Marsol Awarded Middle Eastern Contracts
Marsol International, a UAE-based global marine solutions provider focused on the offshore oil terminal market and related infrastructure, has been awarded two contracts in Oman. The first contract involves a Single Point Mooring (SPM) change out…