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Oct. 22 (seeking alpha) Weatherford International (WFRD) jumped 8.6% in Wednesday's trading after easily beating Q3 earnings estimates and saying its Venezuela business could reach its previous peak of $500M in annual revenue in the next few years. Q3 profit rose to $120M, or $1.66/share, from $81M, or $1.12/share, in the year-earlier quarter, while revenue... Continue Reading →
Oct. 22 (AP) A single figure sets Venezuela apart from the rest of the world: 303 billion barrels of so-called proven oil reserves. But experts say the country's estimate is inherently problematic and far from proven — rooted in exaggerated, aging data from a corrupt government. The number has long been touted by politicians and... Continue Reading →
Oct. 22 - Miros, the Norwegian specialist in radar-based real-time ocean surface measurement, has introduced a 3D vessel view providing crews and operators with a consolidated view of the accurately measured sea state surrounding their vessel. The new 3D interface in WaveSystem, a wave monitoring system for weather-critical offshore vessel operations, shows where each wave... Continue Reading →
Oct 22 (Reuters) - The US has extended the deadline for companies to negotiate with Russian oil major Lukoil about buying its foreign assets until November 21, according to the US Office of Foreign Assets Control. The deadline was extended after the US private equity firm Carlyle Group dropped its bid earlier this month. Washington... Continue Reading →
Oct. 22 (OE) OneSubsea has completed a joint industry project in Brazil with TotalEnergies, Equinor, BP and Chevron to develop and qualify fully electric subsea production technologies for applications in water depths of up to 3,000 meters. The Brazil All-Electric Joint Industry Project (JIP), supported through the Brazilian National Petroleum Agency's (ANP) research and development... Continue Reading →
Oct.20 (Reuters) In less than a lifetime, about six and a half decades, heat waves have evolved from sporadic, isolated episodes to massive, cascading weather events that can blanket vast swaths of the planet for months or even years at a time. The largest heat wave of the 1960s reached about 6% of the planet as it... Continue Reading →
Oct. 21 (offshoreWIND.biz) Japanese construction company Kumagai Gumi has joined Saitec Offshore Technologies and Kansai Electric Power Company (KEPCO) in the DemoSATH floating wind project in Spain, with the partners extending the prototype’s operation at the BiMEP test site through 2027. Under a cooperation agreement, the partners will use the extended operating period for research,... Continue Reading →
Oct. 21 (msn.com) ExxonMobil (XOM) is nearing completion of its seismic data acquisition program offshore Trinidad and Tobago, marking a key milestone in the company’s first year of exploration activities under its production sharing contract, and is expected to drill an exploration well in 2028, Energy Minister Roodal Moonilal said Tuesday. With the seismic campaign... Continue Reading →
Oct 21 (Reuters) - Europe's largest utility, Iberdrola, on Wednesday raised its profit target for this year for the second time and said it expects profit to grow faster than previously forecast, as its focus on power networks pays off. The Spanish company now expects adjusted net profit to grow by at least 10% this... Continue Reading →
Oct. 20 (offshore-energy.biz) With more than a billion barrels of oil in its sights, Ireland-headquartered and AIM-listed United Oil & Gas (UOG) is laying the groundwork for its next offshore move to sweeten the pitch for prospective partners in the Caribbean, with a fresh study that maps out a double-digit rig pool, local logistics, and... Continue Reading →
