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Oct 27 (Reuters) - Baker Hughes reported a fall in third-quarter profit on Tuesday, as prolonged conflict in the Middle East hit demand for services and equipment in the key oil-producing region. Repeated flare-ups in the Middle East conflict, now in its eighth month, have squeezed margins for the oilfield services sector amid delays in... Continue Reading →
Oct. 26 - OEG, a global energy solutions company, has signed a seven-year agreement to supply 50 offshore chemical tanks to a major speciality chemicals company in Brazil, as operators move to lock in long-term access to equipment amid tightening supply. The 5,200-litre-capacity tanks will be rented to support the customer’s offshore operations in the... Continue Reading →
Oct. 26 - HydroWing Ltd, the tidal energy division of Inyanga Marine Energy Group, has signed a contract with Ecodetect to introduce AI-driven environmental monitoring solutions to its pioneering tidal stream energy project at Morlais in Wales. Richard Parkinson, CEO of Inyanga Marine Energy Group, says: “Tidal energy projects operate in sensitive marine environments. Ecodetect’s... 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 (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 (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 →
Oct 20 (Reuters) - Halliburton topped Wall Street expectations for third-quarter revenue and profit, as higher demand for its oilfield equipment in Latin America helped offset muted activity in North America and subdued revenue in the Middle East and Asia. Shares of the company, which kicked off the earnings season for US oilfield service providers,... Continue Reading →
Oct. 15 (offshore-energy.biz) Houston-based Zupt, part of Swiss technology group Rosenxt Group, has signed a framework agreement with Brazil's Mitang Brasil - Soluções Submarinas to jointly support subsea services in Brazil. Based in Rio de Janeiro, Mitang provides offshore survey and positioning services, with experience in LBL positioning, USBL calibration, hydrographic survey, dimensional control, and... Continue Reading →
Oct. 9 - TechnipFMC has secured a contract with Petrobras to supply flexible pipeline systems for offshore projects in Brazil. The agreement, won following a competitive bidding process, involves developing solutions for various pre-salt fields. Classified by TechnipFMC as "significant," the contract is valued between US$ 75 million and US$ 250 million. The company booked... Continue Reading →
Oct. 6 (oilprice.com) Centuries ago, the untamed jungles of Venezuela’s Orinoco Basin helped power the myth of El Dorado, a city made entirely of gold. But for the new adventurers staking a claim in the country’s black gold instead, there is no myth involved, but rather the world’s largest crude oil reserves of 303 billion... Continue Reading →
