Stories
Refine Search
-
Company
Ophir, OneLNG JV to develop Fortuna FLNG Project
Ophir Holdings & Ventures LTD ("Ophir"), a wholly owned subsidiary of Ophir Energy plc, and OneLNGSM, a joint venture between subsidiaries of Golar LNG Limited and Schlumberger, announce that they have signed a binding Shareholders' Agreement…
Petrobras Posts Surprising Loss amid Massive Asset Impairments
State-controlled Petróleo Brasileiro SA posted an unexpected third-quarter net loss on Thursday after drastically reducing the value of oil fields, petrochemical and logistics assets amid a severe downsizing and weak oil prices. In a securities filing…
Brazil O&G Output Tops Record in Sept
Brazil's oil and gas output reached a record 3.36 million barrels per day of oil equivalent in September, according to a report released by the government's petroleum industry regulator ANP on Friday. Oil production was 2.67 million bpd in September…
Mexico Finalizes Terms for First Deepwater Project
Mexico's oil regulator approved on Friday a final set of business-friendly tweaks to bid rules for a highly-anticipated upcoming auction that will pick a partner for state oil company Pemex to develop its first-ever deep water project. The joint…
Pemex to Seek Fresh Tie-ups in 2017-2018
Mexican state-oil producer Pemex will look for tie-ups in the Ayatsil-Tekel-Utsil, and Chicontepec fields, as well as in seven onshore areas next year, the company said in a document published on Thursday. Pemex also said in its 2016-2021 business…
Pemex Sees Drop in Oil Output, Primary Surplus in 2017
Ailing Mexican state oil producer Pemex will show a primary surplus next year even as production continues to slide, its chief executive officer said on Thursday. Pemex will produce 1.944 million barrels of crude per day next year, on average…
US Appeals Court Hears Arguments on Scope of Petrobras Class Action
Attorneys for Brazil's state-controlled oil company, Petroleo Brasileiro SA, asked a U.S. federal appeals court on Wednesday to decertify a class of investors trying to recoup billions of dollars in losses stemming from a sprawling corruption scandal.
InterMoor Upgrades its Port Açu Facility in Brazil
InterMoor said it has added inspection and testing capabilities to its marine base at the Açu Superport in São João da Barra, northern Rio de Janeiro. Open from June 2014, InterMoor’s Port Açu facility is located on a 52,300-m2 site with a 90-m quayside…
Petrobras Likely to Get Credit for Oil-for-shares Transfer
The revision of a massive exploration contract between Brazil's government and Petrobras will be based on the price of oil at the end of 2014, likely leaving the state-run oil company with a credit, the oil and gas regulator ANP said on Tuesday.
Total Brasil to Move Beyond Libra with $300 Mln 2017 Drill Plan
French oil company Total SA plans to spend about $300 million exploring Brazil's Foz do Amazonas Basin in 2017, its first major step in the country since the discovery of the massive Libra area, its Brazil chief executive said on Friday. The…
Hvid to Take Over as Teekay President and CEO
Teekay Corporation’s board of directors has elected Kenneth Hvid to succeed current president and CEO, Peter Evensen, who will retire January 31, 2017 after more than 13 years with the company. Hvid is presently serving as president and CEO of Teekay Offshore Group Ltd.
Chevron Increases Quarterly Dividend by a Penny
Chevron Corp will increase its quarterly dividend by a penny, to $1.08, payable on Dec. 12 to shareholders of record on Nov. 18, the company said on Wednesday. Its shares rose 0.4 percent to close Wednesday trading at $101.19. (Reporting by Ernest Scheyder; Editing by Steve Orlofsky)
Statoil Aims for at Least 10% of Coming Brazil Gas Market
Norwegian oil company Statoil ASA hopes to have 10 to 15 percent of Brazil's natural gas market in coming years, Pal Eitrheim, the company's most senior executive in the country, told journalists on Wednesday. Eitrheim added that major gas production in Brazil is likely to start after 2020.
Sembcorp Marine Posts Q3 Loss
Singaporean rig builder Sembcorp Marine Ltd. posted a loss in the third quarter, hurt by higher financing costs and a fall in orders due to weak oil prices. The company posted a net loss of S$21.8 million ($15.7 million) for the three months ended Sept.
Saipem Skids to Q3 Loss, Plans Job Cuts
Italian oil contractor Saipem posted a third-quarter loss of 1.978 billion euros ($2.15 billion) after asset writedowns, forecasting revenues in 2017 below those expected this year as the industry crisis continues. In a statement Saipem said…
Keppel to deliver third FPSO for Shapoorji Pallonji, Bumi Armada JV
Keppel Offshore & Marine's (Keppel O&M) wholly-owned subsidiary Keppel Shipyard Ltd (Keppel Shipyard) is on track to deliver a Floating Production Storage and Offloading (FPSO) vessel to Armada Madura EPC Limited (Armada Madura), a joint venture…
Petrobras Eyes Alliance with Total for O&G Projects
Brazil's Petroleo Brasileiro SA and France's Total SA agreed on Monday to study opportunities for joint developments in the exploration and production of oil and gas, in Brazil and abroad, Petrobras said in a statement. Initially, the strategic…
BP General Council Bondy to Leave at Year End
BP's General Council Rupert Bondy will step down at the end of the year after eight years in office during which he oversaw the legal battles surrounding the 2010 Gulf of Mexico oil spill, a company spokesman said on Monday. Bondy, an executive team member…
Bumi Armada Berhad Names Its New FPSO
Bumi Armada Berhad, Malaysia-based international offshore energy facilities and services provider celebrated the naming ceremony of the Armada Olombendo Floating Production Storage and Offloading (FPSO) last weekend. Armada Olombendo FPSO represents…
MODEC Connects Offshore Fleet with O3b/RigNet
RigNet and MODEC Sign Agreement to Deliver Fiber-equivalent O3b Satellite Connectivity to Offshore Brazilian FPSO Fleet O3b Networks, technology solutions company RigNet and floating production service provider MODEC, entered an agreement to provide high-throughput…
Armada Sterling III FPSO Named
In December 2014, Bumi Armada Berhad through its wholly-owned subsidiary Bumi Armada Offshore Holdings Limited (BAOHL), together with its joint venture company, PT Armada Gema Nusantara (PT AGN) were awarded a contract to supply one floating…