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China Crude Imports at Record High
Feb daily crude imports jump 20 percent from year ago. China's February crude oil imports jumped 20 percent on year to their highest ever on a daily basis, as prices at their lowest in more than a decade drove buying from a group of new importers and state and commercial stockpiling.
This Week in Floating Production
Finding solid ground in today's energy markets continues to vex even the most experienced energy minds, as new supplies courtesy of shale oil and gas and a number of political uncertainties literally help to re-write the oil exploration playbook.
Petrobras: 2015 Financials Will Report on March 21
Brazil's Petroleo Brasileiro SA will report its 2015 financial results on March 21 after market close, the state-run oil producer said in a statement on Monday. The company is entering a quiet period until the results are released, Petrobras said. Reporting by Silvio Cascione
Seadrill Shares Surge, Squeezing Shorts
Shares have risen 8 days in a row; CEO says short-sellers are beginning to panic. Shares in Norwegian rig firm Seadrill shot up by a third on Monday and its chief executive said short-sellers were starting to panic at the prospect its refinancing plan would succeed.
Oil at Three-month High
Brent climbs above $39 for first time this year; many traders close short positions as sentiment turns bullish. Brent crude hit a three-month high on Monday, extending gains that have lifted crude benchmarks by more than a third from this year's…
Qatargas Delivers First LNG Cargo Under PSO Deal
Qatargas delivered its first Liquefied Natural Gas (LNG) cargo under a new long term supply agreement with Pakistan State Oil Company (PSO) to Port Qasim, Pakistan. The cargo was loaded onto Al Gattara, a chartered Qatargas LNG Vessel, which is owned and operated by Nakilat.
This Week in Floating Production
Finding solid ground in today's energy markets continues to vex even the most experienced energy minds, as new supplies courtesy of shale oil and gas and a number of political uncertainties literally help to re-write the oil exploration playbook.
Petrobras: 2015 Financials Will Report on March 21
Brazil's Petroleo Brasileiro SA will report its 2015 financial results on March 21 after market close, the state-run oil producer said in a statement on Monday. The company is entering a quiet period until the results are released, Petrobras said. Reporting by Silvio Cascione
Fincantieri Delivers "Itarus”
The semisubmersible floating platform will be used to transport special material decommissioned by the Russian Navy Trieste, 3 March 2016 – “Itarus”, the semisubmersible floating platform built by Fincantieri for the Russian RosRAO, the Federal…
Offshore Brazil: Production Starts at FPSO Unit
I n February, a second floating production, storage, and offloading (FPSO)* unit deployed by NYK for the BM-S-11 consortium through a joint venture company started oil production in a pre-salt area off Brazil. This FPSO unit, FPSO Cidade de Marica…
Offshore Brazil: Production Starts at FPSO Unit
I n February, a second floating production, storage, and offloading (FPSO) unit deployed by NYK for the BM-S-11 consortium through a joint venture company started oil production in a pre-salt area off Brazil. This FPSO unit, FPSO Cidade de Marica…
FPSO Cidade de Maricá Producing and on Hire
SBM Offshore announced that FPSO Cidade de Maricá is formally on hire as of February 7, 2016 after achieving first oil and the completion of a 72-hour continuous production test leading to Final Acceptance. The vessel is installed in the Lula…
McDermott, L&T Enter Agreement for India Deepwater Market
McDermott International, Inc. (NYSE: MDR) signed a long-term exclusive agreement with L&T Hydrocarbon Engineering (LTHE), a wholly owned subsidiary of Larsen & Toubro, focused on subsea projects offshore the east coast of India. “This exclusive…
Potential Snag for Tullow at Ghana Field
Oil producer Tullow Oil Plc said there was a potential issue with a storage vessel at its flagship Jubilee field in Ghana, sending shares down more than 7 percent on Thursday morning. The company, which is expecting a second field in Ghana to begin production this year…
Petrobras, Shell, Total, Partners Find More Oil in Libra Prospect
Brazil's state-led oil company Petroleo Brasileiro SA said on Wednesday that it and its partners found more oil in the Libra prospect in a well that helps confirm the extent of the giant offshore area. The well in the northeast section of the…
MacGregor Pusnes Loading Systems for Cosco Shipyard
By combining well-proven MacGregor Pusnes technology in bow loading and offloading systems, MacGregor, part of Cargotec, has helped to develop a solution that enables crude oil to be loaded directly from a floating production storage offloading…
ICE to Showcase FPSO Design Capabilities at APM
European independent marine designer ICE will showcase its proprietary design capability at the 14th Asia Pacific Marine Show in Singapore, March 16-18. This will be the fourth time ICE is exhibiting at this event, which will see the company…
Case Study: $1.55 Billion FPSO Financing
Finding stability in choppy waters: case study by ING, $1.55 billion financing of the Cidade de Saquarema FPSO The $1.55 billion financing of the Cidade de Saquarema floating production, storage and offtake (FPSO) vessel had a difficult genesis and complex logistics.
Fred. Olsen Energy: Loss-Making Contract Levels Persist
Q4 earnings lag expectation after $158 mln impairment; shares drop 15 pct, down 83 percent the last two years. Global offshore drilling rig rates will remain at loss-making levels as the market continues to suffer from overcapacity, Norway's Fred.
SBM Offshore: US Authorities Reopen Corruption Probe
SBM Offshore, the world's top oil production ship leasing company, said on Wednesday that U.S. authorities had re-opened an inquiry into bribery allegations involving the Dutch company. SBM Offshore reached a record $240 million settlement in November 2014 with Dutch and U.S.
FSRU Golar Tundra Sold to Golar LNG Partners
Golar LNG Limited has entered into a purchase agreement to sell the Golar Tundra, a floating storage and regasification unit (FSRU), to Golar LNG Partners LP for a sale price of $330 million. In connection with the closing, Golar LNG Partners will receive a daily fee plus operating expenses…