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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…
Petrobras Reinventing Itself after Oil Price Drop -CFO
Brazil's state-controlled oil company Petrobras is being forced to turn itself into a smaller operation as crude prices have fallen more than expected, making it impossible to finance its once-ambitious plans, the company's chief financial officer said on Tuesday.
Petrobras Reports 36.9 Bln Real Quarterly Loss
Brazil's state-run oil company Petroleo Brasileiro SA reported a fourth-quarter loss of 36.9 billion reais ($10.2 billion), according to a securities filing. Net sales, or total sales minus sales taxes, was 85.1 billion reais in the quarter and adjusted earnings before interest…
Petrobras Reports 36.9 Bln Real Quarterly Loss
Brazil's state-run oil company Petroleo Brasileiro SA reported a fourth-quarter loss of 36.9 billion reais ($10.2 billion), according to a securities filing. Net sales, or total sales minus sales taxes, was 85.1 billion reais in the quarter and adjusted earnings before interest…
Petrobras Reinventing Itself after Oil Price Drop -CFO
Brazil's state-controlled oil company Petrobras is being forced to turn itself into a smaller operation as crude prices have fallen more than expected, making it impossible to finance its once-ambitious plans, the company's chief financial officer said on Tuesday.
Kuwait Expects Oil Price to Rise to $50 in 2016
Kuwait expects the price of crude oil to rise to $50 per barrel and said the Gulf Arab state exports about 2.1 million barrels per day, state news agency KUNA said citing a senior official. "Kuwait exports around 2.1 million barrels of crude oil per day…
Kuwait Expects Oil Price to Rise to $50 in 2016
Kuwait expects the price of crude oil to rise to $50 per barrel and said the Gulf Arab state exports about 2.1 million barrels per day, state news agency KUNA said citing a senior official. "Kuwait exports around 2.1 million barrels of crude oil per day…
Oil Price Rise: Perhaps Wrong, Not Irrational
The oil futures curve is flattening as a wave of bullishness washing across the market raises the price of near-dated contracts faster than that of contracts for deferred delivery. Brent for delivery in May 2016 has risen more than $10 per barrel since early February…
GasLog Appoints Bruno Larsen to Head FSRU
GasLog Ltd has appointed Bruno Larsen as head of floating storage and regasification unit (FSRU) development. Larsen has previous experience in both the LNG and FSRU sectors, and will take the lead in the company’s commercial FSRU activities.
Oil Price Rise: Perhaps Wrong, Not Irrational
The oil futures curve is flattening as a wave of bullishness washing across the market raises the price of near-dated contracts faster than that of contracts for deferred delivery. Brent for delivery in May 2016 has risen more than $10 per barrel since early February…
GasLog Appoints Bruno Larsen to Head FSRU
GasLog Ltd has appointed Bruno Larsen as head of floating storage and regasification unit (FSRU) development. Larsen has previous experience in both the LNG and FSRU sectors, and will take the lead in the company’s commercial FSRU activities.
LNG Infrastructure Market to Reach $55B
There are a number of exciting LNG liquefaction prospects around the world in 2016, both under construction and prospective. The question is whether the demand of East Asia is strong enough to support the economics of an abundant supply of liquefaction opportunities.
LNG Infrastructure Market to Reach $55B
There are a number of exciting LNG liquefaction prospects around the world in 2016, both under construction and prospective. The question is whether the demand of East Asia is strong enough to support the economics of an abundant supply of liquefaction opportunities.
Excelerate FSRU Hits Milestone
Excelerate Energy said t its newly upgraded floating storage and regasification unit (FSRU) Explorer recently completed its sendout performance tests and reached a sendout capacity of 1.0 Bcf/d – an unprecedented milestone for an FSRU. The FSRU…
Songa Restructures as Statoil Shortens Contracts
Norwegian rig firm Songa Offshore will issue new debt and shares worth up to $150 million and convert existing bonds of the same amount to equity as part of a plan to fix a liquidity shortfall, the company said in a statement on Tuesday. Songa's top customer…
Excelerate FSRU Hits Milestone
Excelerate Energy said t its newly upgraded floating storage and regasification unit (FSRU) Explorer recently completed its sendout performance tests and reached a sendout capacity of 1.0 Bcf/d – an unprecedented milestone for an FSRU. The FSRU…
Songa Restructures as Statoil Shortens Contracts
Norwegian rig firm Songa Offshore will issue new debt and shares worth up to $150 million and convert existing bonds of the same amount to equity as part of a plan to fix a liquidity shortfall, the company said in a statement on Tuesday. Songa's top customer…
Tullow Declares Force Majeure on Jubilee Crude
Tullow declared force majeure on two cargoes of Ghana's Jubilee crude oil after an issue on the Floating Production Storage and Offloading (FPSO) facility that exports the oil. The company said it declared force majeure late last week after a problem with a turret bearing.
Shell Delivers more Brazil Deep-water Production
Shell and its joint venture announce the start of oil production from the third phase of the deep-water Parque das Conchas (BC-10) development in Brazil's Campos Basin. Production for this final phase of the project is expected to add up to 20…
Offshore Floaters: RBI Service Launched by LR
New Risk-based Inspection (RBI) service launched by Lloyd’s Register combines hull integrity management with Class to help minimize costs for operators of floating offshore installations (FOIs). Initiative will help optimize inspection regimes…
Eni Starts Production of Goliat
Goliat is the first oil field to start production in the Barents Sea Eni has started production of the Goliat field, located 85 kilometers northwest of Hammerfest, within Production License 229, in a ice-free area in the Barents Sea off Norway.