Stories
Refine Search
-
Company
Petrobras to Gain $11 Bln on Sale of Brazil Oil Rights to Statoil
The sale of a stake in Carcara, the giant Brazilian offshore oil prospect, to Norway's Statoil ASA will gain Brazil's state-led oil company Petrobras as much as $11 billion to pay debt or invest in other projects that promise to generate cash more quickly, Petrobras' chief executive said on Tuesday.
Russian Shipbuilder Signs $1 bln Oil Rigs Contract with Iran
Russian shipbuilder Krasnye Barrikady and Iran's Tasdid Offshore Development Company (TODC) have signed a deal worth $1 billion to build five offshore drilling rigs for oil and gas exploration in the Persian Gulf, reports Press TV. According…
GoM Operators Evacuating Ahead of Storm
Offshore oil and gas operators in the Gulf of Mexico are evacuating platforms and rigs in the path of Tropical Depression No. 9. The Bureau of Safety and Environmental Enforcement (BSEE) said its Hurricane Response Team is activated and monitoring the operators’ activities…
Keppel to Deliver First North Sea FPSO
Keppel Offshore & Marine (Keppel O&M)'s wholly-owned subsidiary Keppel Shipyard Ltd (Keppel Shipyard) is on track to deliver a Floating Production Storage and Offloading (FPSO) vessel to Armada Kraken Pte Ltd (Armada Kraken), a wholly owned subsidiary of Bumi Armada Berhad (Bumi Armada).
Heavy Lifting: Giant Pipe Racks Shipped for New FPSO
From Brazil to China and then back to Brazil, five pipe racks and three modules weighing a total of 1,871.51 metric tons and measuring 24,075 m³ will be transported by heavy lift shipping specialist HANSA HEAVY LIFT for a new floating production…
Seadrill Q2 Result Beats Street
Norway-listed offshore driller Seadrill, once the crown jewel in the business empire of shipping tycoon John Fredriksen, said the oil industry may be turning a corner as it posted second-quarter earnings above forecasts on Thursday. At the height of the oil price boom…
Wärtsilä Re-gasification system for Norwegian Ship Conversion
Wärtsilä has been contracted to supply the re-gasification system for an FSRU (Floating, Storage, Re-gasification Unit) conversion project that Höegh LNG plans to carry out on a modern LNG vessel. The contract was signed in August. The Wärtsilä…
COSCO Delivers PSV and Two Jack-up Rigs
Cosco (Dalian) Shipyard Co., Ltd., a subsidiary of its 51 percent owned Cosco Shipyard Group Co., Ltd., has delivered two jackups to the Foresight Group of companies through United Arab Emirates-based drilling and rig management services firm Hallworthy International FZC.
Malikai TLP Float-off Completed in Malaysia
InterMoor said it has recently completed its involvement in the Shell Malikai Tension Leg Platform (TLP) float-off operations. The TLP was loaded onto the Dockwise Heavy Lift Vessel White Marlin at Malaysia Marine and Heavy Engineering (MMHE) shipyard in Pasir Gudang…
Höegh LNG Speeds up FSRU Conversion
Höegh LNG Holdings Ltd. today announced that it has signed agreements with Wärtsila Oil and Gas (EPCIC regas) and Moss Maritime (engineering) for its first FSRU conversion project, including the ordering of critical equipment with long lead time.
MISC Enters Thai Offshore O&G Market
Energy related maritime solutions and services provider MISC Berhad (MISC) has made inroads into Thailand’s offshore oil and gas market for the first time. MISC’s wholly-owned subsidiary, MISC Offshore Floating Terminals (L) Limited (MOFT) signed…
Swan Sells 60% of FLNG Terminal Capacity
Indian public sector oild giants Oil and Natural Gas Corp (ONGC), Indian Oil Corporation (IOC) and Bharat Petroleum Corp Ltd (BPCL) have booked 60 per cent of the capacity of Swan Energy Ltd. (SEL)'s upcoming floating Liquefied natural gas (LNG) terminal off the Gujarat coast.
Santos in the Red on LNG Project
Australia’s third-biggest oil and gas producer Santos Ltd reported a first-half net loss of $1.1 billion after taking a $1.05 billion charge on its Gladstone liquefied natural gas (LNG) export project in Queensland, reports Bloomberg. However…
NYK: Oil Production Starts at Third FPSO Unit
In July, a third floating production, storage, and offloading (FPSO) unit deployed by NYK for the BM-S-11 consortium** through a joint venture company started oil production in a pre-salt area off Brazil. This FPSO unit, FPSO Cidade de Saquarema…
Kogas Sign MoU for LNG Terminal in Mexico
South Korea’s Kogas (Korea Gas Corporation) has signed a memorandum of understanding (MoU) with the Mexican state of Yucatan to construct an liquefied natural gas (LNG) terminal and gas pipelines that would be worth up to $1.5 billion in a package deal.
Has the Link between OPEC Production and VLCC Rates broken?
For the tanker market, in particular for VLCCs, increasing Middle East OPEC production is typically a good sign. Poten and Partners in its Shipbrokers Reports says that does not appear to be the case at this particular moment, since the tanker…
Maersk Drilling Delivers $164m Profit
Maersk Drilling delivered a profit of USD 164m (USD 218m) in the second quarter of 2016. The result is positively impacted by a strong operational performance with an average uptime of 98% and savings on operating costs, however partly offset by more idle days.
DNV GL Okays New Floating Power Generation Concept
DNV GL has given IHI Corporation Approval in Principle (AiP) for its FLPS (Floating LNG Power Station) concept. The formal handover of the Approval in Principle took place in Tokyo on July 5. The design has been found to comply with DNV GL class standards and other relevant industry standards.
Oil Extends Rally on Possible Producer Action
Oil prices were up about 1 percent on Friday, on track for their biggest weekly gains since May, after a short covering rally was triggered by comments from Saudi Arabia's oil minister in the previous session about possible action to help stabilize the market.
Petrobras Sees Improved Fuel Demand in H2 in Brazil
Brazil's state-run oil company Petroleo Brasileiro SA expects local demand for fuels to improve in the second half of 2016 as the economy is expected to begin its recovery from the worst recession in eight decades, company officials said Friday.
Weak Oil Pushes SBM Offshore to Axe More Jobs
SBM Offshore's first-half results lagged analysts' expectations on Wednesday as challenging conditions persisted in the oil industry and the Dutch oil services company announced an additional 250 job cuts. It said it did not expect a full recovery in its business until 2018…