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Petrobras CEO Sees Need to Empower Middle Management
The head of Brazil's state-controlled oil giant Petrobras has called in an international consultancy firm to make middle management at the scandal-hit firm more proactive. Petroleo Brasileiro SA last week posted a record first-quarter operating…
TMC Tallies another Höegh FSRU Deal
TMC Compressors said it has secured a contract from Samsung Heavy Industries to deliver a marine compressed air system to a floating storage and regasification unit (FSRU) the South Korean shipyard is building for Höegh LNG. Under the contract…
EIA Release Short-Term Energy Outlook
The U.S. Energy Information Administration released its Short-Term Energy Outlook. Select highlights include: • North Sea Brent crude oil spot prices averaged $52 per barrel (b) in April, $1/b higher than the March average and the fifth consecutive…
ABS, DSME Pact on Novel FLNG Concept
ABS signed an agreement with Daewoo Shipbuilding and Marine Engineering Co. (DSME) to support safety and apply class guidance to a conceptual Floating Liquefied Natural Gas (FLNG) unit. “We are pleased to sign this agreement and work with DSME…
Oil Nears $50 as U.S. Stockpiles Decline
Lower decline in U.S. inventories, rising output weighs; Russia cuts production, Iraq's fuel oil exports climb. Oil prices fell for the fourth consecutive day on Thursday, touching their lowest since March at just above $50 a barrel after U.S. crude inventories fell by less than expected. U.S.
ABS Approves Innovative Drillship Design
ABS is working with industry to improve efficiencies in offshore development. “ABS is working on multiple fronts to help the offshore industry find efficiencies and streamline operations,” says ABS Executive Vice President for Global Offshore Ken Richardson.
Brazil Pre-salt AuctionRules Rile Oil Firms
The Brazilian government has approved terms for another auction of exploration rights to high potential oil prospects, in the so called pre-salt layer, but oil firms are not totally happy with the rules. Brazil's Energy Ministry said on Thursday in the official gazette that it has cleared the round…
Changing the Landscape of LNG Production
Successful completion of the Petronas Floating LNG facility (PFLNG) Satu is a milestone for the oil and gas industry and for the Malaysian energy giant. Designed by consortium leader TechnipFMC and fabricated at the Daewoo Shipbuilding and Marine Engineering yard in South Korea…
Anadarko Posts Smaller Quarterly Loss
Oil and gas producer Anadarko Petroleum Corp reported a bigger-than-expected quarterly loss on Tuesday, as expenses rose about 53 percent, failing to offset gains from higher crude prices. North American oil producers faced prolonged weakness…
Petrobras Shifts Focus to Oil E&P, Alternative Energy
Petróleo Brasileiro SA will focus on oil and gas exploration and production while seeking opportunities in alternative sources of energy over the next five years, as Brazil's state-controlled oil firm moves toward more profitable core segments, Chief Executive Officer Pedro Parente said on Tuesday.
Total to Explore Senegal's Deepwater Potential
Total has signed an agreement to explore for oil and gas off Senegal's Atlantic coast, boosting the prospect of major oil developments in the West African country. Under the deal Total will explore in the deepwater Rufisque Offshore Profond…
TMC Compressors for Höegh FSRU
TMC Compressors (TMC) said it has penned a contract with shipbuilder Hyundai Heavy Industries to supply a complete marine compressed air system to a new-build floating storage and regasification unit (FSRU) the South Korean yard is building for Höegh LNG.
New FSRU Concept Stems from ABS, HHIC Project
ABS partners with HHIC to advance safety and set standards in new FSRU design concept. Working with Hanjin Heavy Industries and Construction Co., Ltd. (HHIC) as it completed a new Floating Storage and Regasification Unit (FSRU) design concept…
Noble Energy's Loss Smaller than Expected
Noble Energy Inc on Monday reported a smaller-than-expected adjusted quarterly loss as oil prices ticked up after a more than two-year slump, offsetting a decline in production. Brent crude prices averaged $54.57 per barrel in the first three months of the year, up 55 percent from a year earlier.
BW Offshore to get FPSO from Keppe
Keppel Shipyard Ltd (Keppel Shipyard), is on track to deliver a Floating Production Storage and Offloading (FPSO) vessel to BW Catcher Limited, a wholly-owned subsidiary of BW Offshore. When completed BW Catcher will be on a 7-year fixed term…
In Demand: Hoegh LNG’s Sveinung Stoehle
Satisfied with the recent opening of a new floating LNG import terminal in Turkey plus contract successes in Africa and Asia, Hoegh LNG CEO and president, Sveinung Stoehle, cautiously lets us into his stylish Oslo offices for a bit of “disclosure”.
MPA Honors ABS
ABS has been awarded the Offshore & Marine Engineering Award by the Maritime and Port Authority of Singapore (MPA). This award recognizes organizations that have made significant contributions toward the development of Singapore’s offshore and marine engineering sector.
Singapore Ranked World's Top Maritime Capital
Singapore has once again emerged in top place in a ranking Menon’s Leading Maritime Capitals of the World Report (Menon Report) for 2017. The study, by Norwegian consultancy firm Menon Economics, looked at 24 objective indicators and garnered…
Total Expects Decision on First Libra FPSO by Summer
A decision on the first floating, production, storage and offloading (FPSO) vessels on the giant Libra project in Brazil will be made by the summer, Total's head of exploration and production said on Thursday. "We are actively working actively on Libra to have the first FPSO decided before summer…
Keppel FloaTEC Secures Contract for TLWP in Vietnam
Keppel FloaTEC LLC, a wholly-owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), has secured a contract worth about $40 million from PTSC Mechanical & Construction (PTSC M&C) to provide engineering, technology and construction management…
Louisiana OKs Use of Grants for DP Assessments
Companies can use IWTP state grants to cover costs of OSVDPA assessments The Louisiana Workforce Commission (LWC) has approved use of Incumbent Worker Training Program (IWTP) grants to cover the cost of Offshore Service Vessel Dynamic Positioning Authority, Inc. (OSVDPA) Phase 4 Assessments.