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US to Hold Offshore O&G Lease Sale
U.S. Secretary of the Interior Sally Jewell will travel to New Orleans on Wednesday, March 18, 2015 to attend and open bids at an oil and gas lease sale offering 41.2 million acres for exploration and development in the Central Planning Area offshore Louisiana, Mississippi and Alabama.
BP Declares Force Majeure on Angolan Oil Project after Power Loss
BP has declared force majeure on oil output from an Angolan oil project which provides almost 10 percent of the OPEC member's exports after a power loss. The oil company declared force majeure on Monday due to the power loss at the PSVM oil project's floating production…
Golar, Rosneft Sign FLNG MoU
Rosneft and Golar LNG Limited signed a Memorandum of Understanding that foresees cooperation between the companies in the area of liquefaction and transportation of natural gas. Within the ambit of the memorandum the parties will analyze the…
Gulf of Mexico Oil Production on the Rise
Because of the long timelines associated with Gulf of Mexico (GOM) projects, the recent downturn in oil prices is expected to have minimal direct impact on GOM crude oil production through 2016. EIA projects GOM production to reach 1.52 million…
Petrobras Plans to Sell $13.7bln in Assets
State-controlled Petróleo Brasileiro SA plans to sell $13.7 billion in assets for this and next year, as part of efforts to reduce debt and protect cash, the company said in a statement on Monday. Petrobras, as the company is commonly known…
Floater Orders 2014
25 Units Orders in 2014: 10 FPSOs, 1 Barge, 4 FLNGs, 7 FSRUs & 3 FSOs The overall number of orders is similar to the average ordering pace over the past 10 years, during which an average of roughly 25 production and storage floaters were ordered annually.
MES Delivers FPSO Hull to MODEC
Mitsui Engineering & Shipbuilding Co., Ltd. (MES) delivered the hull of a floating production, storage and offloading unit (FPSO) for MODEC, Inc. The FPSO hull sailed out from MES’ Chiba Shipyard on February 27, 2015. The FPSO will be chartered to a consortium formed by Petrobras (45%)…
ClassNK Updates Guidelines for Floating Offshore Facilities
ClassNK released a new version of its Guidelines for Floating Offshore Facilities for LNG/LPG Production, Storage, Offloading and Regasification. Available on the ClassNK website, this second edition is an update to the initial guidelines released…
Petrobras Scandal About to Hit Brazil's Political Class
Brazil's top prosecutor is expected to file charges in coming days against politicians implicated in the Petrobras corruption scandal, a political bombshell that could involve members of Congress and President Dilma Rousseff's government. Under Brazilian law…
Brazil Sees No Need to Capitalize Petrobras
Brazil currently has no plans to capitalize Petrobras despite market fears the state-run oil company could need fresh capital after Moody's cut its credit rating to junk, two government officials told Reuters on Wednesday. Moody's Investors…
Transocean Shares Poised for Big Move
Transocean Ltd shares are expected to move about 8 percent in either direction following its earnings results on Wednesday, options data showed, but positioning among traders suggests some worry. This would be the biggest post-earnings move for the shares in at least eight quarters.
Transocean CEO's Exit Unlikely to Swing Fortunes
Transocean Ltd's decision to replace its chief executive will do little to help the company cope with an aging fleet and lower demand for its rigs due to a steep fall in oil prices, analysts said. Shares of the company, which also slashed its dividend by 80 percent to 60 cents per share…
Offshore Industry to Focus on Spill Response
Industry, government and regulators join the debate at Interspill 2015. The oil and gas industry is set to discuss the importance of maintaining focus on oil spill response across all sectors at the three day Interspill conference and exhibition in Amsterdam from March 24-26.
Shell Boss Sees World Oil Supply Lagging Demand
The head of Royal Dutch Shell expects global oil supplies to fall behind demand growth as the recent halving of crude prices forces companies to cut production. In excerpts from a speech Shell Chief Executive Ben van Beurden is to give at the International Petroleum Week dinner on Thursday evening…
Update: 3 Dead, 10 Injured in FPSO Explosion
Brazil oil regulator says 3 dead, 10 injured in Petrobras platform explosion An explosion at an offshore Petrobras oil and natural gas platform killed three workers and injured 10 more, Brazil's oil regulator ANP confirmed in a statement on Wednesday.
At Least Three Dead in FPSO Explosion
At least three oil workers were killed and others were injured in an explosion on Wednesday at an offshore oil and natural gas platform in Brazil operated by state-run energy company Petroleo Brasileiro SA , union officials said. The workers…
Dyna-Mac to Build FPSO Topsides for Armada Cabaca
Dyna-Mac has secured a Letter of Award (LoA) from Armada Cabaca Ltd. worth approximately $48 million (USD) for the construction of six FPSO topsides modules. Armada Cabaca Ltd, an affiliate of Bumi Armada Berhad (Bumi Armada), a Malaysia-based…
PDVSA and Petrobras Outperform in Weak Session
Brazilian state-owned Petrobras and Venezuela bucked the trend in an otherwise weaker Latin American credit market Monday as rebounding oil prices provided support for oil names. However, most of the Brazilian corporate space suffered steep…
Braemar Sub-Licenses FSP Containment System
Braemar LNG BV, the wholly owned subsidiary of Braemar Shipping Services PLC, has issued a sub-license to FSP LNG BV for the design and construction of a new Flat-panel, Semi-membrane, Prismatic-shaped (FSP) containment system, under the terms…
DNV GL Wins Contract for Maria Development
DNV GL has been selected by Wintershall Norge AS as the sole supplier for the combined role of Independent Verification Body (IVB) and Third Party Design Verification scope for the subsea, umbilicals, risers and flowlines (SURF) part of the Maria field development project.
Coldharbour Marine's New UK Office
Coldharbour Marine, long recognised for the design, manufacture and supply of inert gas and fluid handling equipment vessels (FPSOs) has moved into a new 25k sq. ft. headquarters in Linby, Nottinghamshire. All of Coldharbour’s administration…