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Oil Firm as Signs of Higher Demand Outweigh Worries of Excess
* OPEC's compliance with production curbs has slipped - IEA * OPEC needs to cut more deeply to achieve higher prices -analysts (Updates throughout, changes dateline from SINGAPORE) By Libby George Oil prices edged higher in choppy trading on…
Xodus wins Subsurface Contract with Cairn Oil and Gas in India
Xodus Group won a contract with Cairn Oil and Gas of Vedanta Ltd. to conduct exploration and appraisal work on its Rajasthan block in north-west India over the next two years. The first stage of the work will focus on delivering new drilling prospects and an exploration drilling plan…
Suriname Signs Offshore Oil Deals with Exxon, Hess and Statoil
Suriname's state oil company Staatsolie said on Thursday it signed production sharing contracts involving Exxon Mobil Corp, Hess Corp and Statoil ASA for two blocks off the coast of the South American nation. The thirty-year exploration and production agreements involve the areas known as Block 59…
Oil Majors Face Downgrades if Crude Prices Don't Rise - S&P
Big oil firms would face increased credit rating downgrade pressures if crude prices stayed below $50 a barrel on average until the end of 2018 and they did not compensate by cutting costs, S&P Global said on Wednesday. S&P currently has downgrade…
Brazil Clears Petrobras, Advisors in 2010 Share Offer
Brazil's securities industry watchdog on Tuesday cleared Petroleo Brasileiro SA , former management and financial advisors of wrongdoing over alleged irregularities relating to the state-controlled oil company's $70 billion share offering in September 2010.
Chandrasekharan Joins Viking SeaTech
Viking SeaTech said it has appointed Kiran Chandrasekharan to a newly created post of naval architect at its base in Aberdeen. Chandrasekharan, who has more than seven years’ experience, specializes in permanent mooring design. Prior to joining…
Shell Exercises FPSO Turritella Purchase Option
Shell E&P Offshore Services B.V. will exercise its right under the charter agreement to purchase the floating production storage and offloading vessel (FPSO) Turritella, enabling a Shell affiliate to assume operatorship of the Gulf of Mexico ultra-deepwater Stones development in its entirety.
Total to Maintain 300,000 bpd Output from Al Shaheen Oilfield
Total CEO Patrick Pouyanne aims to maintain production of 300,000 barrels a day from the Qatari offshore Al Shaheen oilfield for "many years", he said on Tuesday. Pouyanne was speaking at a news conference in the Qatari capital Doha to mark…
Ophir's COO Higgs to Step Down
British oil and gas explorer Ophir Energy's Chief Operating Officer William Higgs will step down as the company reduces costs by cutting staff positions at its London headquarters, the company said on Friday. Energy companies have cut costs over the past few years due to a fall in oil prices.
Petrobras Halts Output at P-62 Platform after Accident
Petróleo Brasileiro SA halted production at its P-62 platform in the Campos basin due to an accident that left three people injured, the state-controlled oil company said on Wednesday. In a statement, Petrobras, as the company is known, said the accident happened at 8:20 a.m.
Load Cells for Offshore Mooring Project
French maritime engineering specialist Iroise Mer used a 50 ton Straightpoint Radiolink plus (RLP) load cell during a refit of a tanker mooring system located 500m off the Corsica coast, recently. Iroise Mer's job was to update the site, comprising four different mooring lines…
Keppel to Deliver World's First Converted FLNGV
Keppel Offshore & Marine's (Keppel O&M) wholly-owned subsidiary, Keppel Shipyard Ltd (Keppel Shipyard), will soon deliver the world's first converted Floating Liquefaction Vessel (FLNGV) owned by Golar Hilli Corporation (Golar), a subsidiary of Golar LNG Ltd.
WMU signs MoU with MLS, New Wave Media for Global Survey
The MoU establishes a partnership between the three organizations to conduct recurring global surveys on seafarer training practices in industry and sets out the guiding principles and terms by which WMU, Marine Learning Systems and New Wave…
DryShips VLGC Commences Time Charter
DryShips Inc., an owner of ocean going cargo vessels, announced that on June 29, 2017, its first very large gas carrier (VLGC) commenced its time charter on a fixed rate with five years firm duration to an oil major. The charterer has options…
OPEC Oil Output Jumps to 2017 High as Nigeria, Libya Pump More
OPEC oil output has risen in June by 280,000 barrels per day (bpd) to a 2017 high, a Reuters survey found, as a further recovery in supply from the two member countries exempt from a production-cutting deal offset strong compliance by their peers.
BP Takes $750m Hit in Angola Exploration Write-off
BP said on Thursday it will incur a $750 million write off in its second quarter 2017 results over exploration blocks it relinquished in Angola. "As part of the ongoing portfolio evaluation, BP has decided to relinquish its 50 percent interest in Block 24/11 offshore southern Angola.
Shell's FLNG Facility Sets Sail for Australia
Royal Dutch Shell's Prelude floating liquefied natural gas (FLNG) ship has left a shipyard in South Korea for its destination offshore northwest Australia, the company said on Thursday. Shell's $12.6 billion Prelude project is expected to start operating next year…
Keppel Bags $85 Mln Conversion and Repair Projects
Keppel Offshore & Marine Ltd (Keppel O&M) has through its wholly owned subsidiary, Keppel Shipyard Ltd (Keppel Shipyard), won four contracts worth a total of $85 million for the conversion, repair and modification of vessels. The first contract is from Dixstone Holdings Ltd…
China Cash Boosts African FLNG Projects
China aims to become lowest-cost seller of FLNG plants; its shipyards to build floating plants for African projects. China plans to pour almost $7 billion into floating liquefied natural gas (FLNG) projects in Africa, betting on a largely untested…
Aker Solutions to Supply Umbilicals Coral South FLNG
Aker Solutions was awarded a contract to deliver three umbilicals and associated equipment at ENI's Coral South project, Mozambique's first offshore field development. The work scope includes three steel tube umbilicals that will total more…
Seabed Geosolutions Wins Brazil Survey Work
Fugro said its joint venture with CGG has secured a contract from Petrobras for a 3D ocean bottom node (OBN) survey in the Brazilian Santos Basin. The seven month contract awarded to the survey firms’ joint venture Seabed Geosolutions is valued…