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Oil Prices Fall as US Drillers Add Rigs
Oil prices slipped on Friday, extending losses after data suggested drilling is ramping up in the United States, easing the focus on efforts by OPEC and other producers to support prices by cutting supplies. U.S. crude futures for March delivery fell 98 cents…
US Drillers Add Oil Rigs for 12th Week in 13
U.S. energy companies this week added oil rigs for a 12th week in the last 13, extending an eight-month recovery as drillers take advantage of a deal by OPEC to cut production that has kept crude prices over $50 a barrel since early December. Drillers added 15 oil rigs in the week to Jan.
Australian LNG Projects Face Delays, Benefiting US Producers
Australia's plans for a huge increase in its production of liquefied natural gas are being dealt a big blow by a series of production delays, as energy companies struggle with technical problems and cost overruns. The country is still likely to become the world's biggest LNG exporter…
World's First Barge-based FSRU Exits Dry Dock
The world’s first barge-based Floating Storage and Regasification Unit (FSRU) has undocked from dry-dock in Nantong, China, announced Wison Offshore & Marine, who provided EPC services for Exmar. Upon the undocking, topside installation has been completed, which paves the way for delivery.
Bumi Armada Achieves First LNG in Malta
Bumi Armada Berhad, Malaysia-based international offshore energy facilities and services provider has announced that its liquefied natural gas (LNG) floating storage unit (FSU), Armada LNG Mediterrana, has achieved its first LNG in Malta last week, on January 16, 2017.
Petrobras Says Investors Are Suing Its Subsidiaries in Netherlands
Brazil's state-run oil company, Petroleo Brasileiro SA, said on Tuesday in a securities filing that a group of investors is suing two of its subsidiaries in a court in the Netherlands. The Stichting Petrobras Compensation Foundation, a Netherlands-based claim foundation…
Brazil Court Allows Petrobras to Sell Sergipe, Ceará Offshore Fields
A Brazilian court has ruled that state-controlled oil company Petróleo Brasileiro SA can continue a process to sell several offshore oil fields in the country's northeastern region. In securities filing on Monday, Petrobras said the Federal…
SBM Offshore Shares Gain on Hopes of Brazilian Settlement
Shares in Dutch offshore oil industry services company SBM Offshore rose on Friday on a media report the company was close to settling a corruption probe with Brazilian authorities that has prevented it from bidding for work in a major market.
Höegh LNG Orders 4 FSRU from Samsung Heavy
South Korea's Samsung Heavy Industries Co has won one firm Shipbuilding Contract (SBC) and an agreement for three optional floating storage and regasification units (FSRUs) from Hoegh LNG Holdings. Under the deal with Norway-based Hoegh LNG Holdings Ltd.…
Mercuria Introduces Blockchain to Oil Trading
Trading house Mercuria is working with banks ING and Societe Generale on the first large oil trade based on blockchain technology, as the tradition-bound oil industry tests out digital technology. Mercuria is shipping an oil cargo with African crude to China…
Commencement Ceremony for FSO Benchamas 2 Project
MISC Berhad has celebrated the commencement of FSO Benchamas 2 conversion, in a ceremony at MMHE West Yard, Pasir Gudang. In attendance were the vessel charterer, conversion contractors and the vessel operator which included the guest-of-honor…
Iran, China Sign $3B Deal on Refining Capacity
Iran and China will sign a $3 billion contract next month to upgrade Iran's oil refining capacity, according to Iran's Mehr News agency. Iran's deputy oil minister Abbas Kazemi said in Tehran on Tuesday that the deal will focus on upgrading the Abadan oil refinery, Mehr said.
Hoegh LNG orders FSRU from Hyundai
Höegh LNG Holdings Ltd. has signed a new Shipbuilding Contract with Hyundai Heavy Industries Co. for a new Floating Storage and Regasification Unit (FSRU) for delivery in Q4 2018. The FSRU will have a storage capacity of 170,000 m3 and a max regasification capacity of 1…
TechnipFMC Begins Operations Post-merger
TechnipFMC has begun operating as a unified oil and gas services company following completion of the merger of Houston-based FMC Technologies and paris-based Technip. Now with a combined 44,000 employees, the new TechnipFMC will work on oil and gas projects…
World Energy Trends: What’s New in Floating Production
Oil pricing continues to hover in the mid-$50s, market confidence is slowly returning and the production floater fabrication market is stirring. A major order for a production semi was placed in early January -- with Samsung receiving a contract…
LNG Floating Storage: A Passing Trend?
At the end of 2015, global LNG production was approximately 35 bcf/d. By 2019, global supply is set to increase by 40 percent with the U.S. and Australia planning to bring another 15 bcf/d online. However, traditional markets like Europe and…
Forum ROV to support University Renewables Projects
Forum Energy Technologies, Inc. won an order to supply the University of Limerick with a Remotely Operated Vehicle (ROV) to support its subsea inspection and intervention work on renewable energy infrastructure. The University’s Mobile and Marine…
Hess to Spend More on Exploration and Production This Year
Hess Corp said it expected to spend $2.25 billion on exploration and production this year, higher than the $1.9 billion it spent in 2016, in one of the first signs that oil firms will raise their budgets in 2017 after years of declines. Global…
Maritime Reporter TV Interview: What's next in Floating Production?
Jim McCaul, founder of International Maritime Associates, sat with Maritime Reporter TV's Greg Trauthwein in Washington, D.C. to discuss key market trends affecting the global energy and maritime sectors. With inimitable insight, McCaul offers a candid look into the state of U.S.
![Goliat i Barentshavet-BREDT[1].jpg](https://www.intelatus.com/images/w100h100c/69197-e69d)
Eni to Start Repair Work at Norway's Goliat Oilfield Soon
Eni will soon start repairing a loading hose at its Arctic Goliat oil platform offshore Norway, and will resume production thereafter, the company said on Wednesday. "According with current weather forecasts we anticipate to get the repair to…
Norway Appeals Court Clears Transocean in Tax-evasion Case
Offshore rig firm Transocean was cleared of accusations of tax evasion in a civilian case brought by the Norwegian state, a Norwegian appeals court said in a verdict on Monday. By reversing the verdict made by a lower court, Transocean avoided…