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Offshore accommodation firm Prosafe said Wednesday that its Safe Zephyrus semi-submersible vessel for safety and maintenance support had started its contract offshore Brazil with Petróleo Brasileiro SA ('Petrobras'). The contract started on April 30 and has a firm commitment period of 650 days. Prosafe signed the $73 million contract with Petrobras in December 2022. Built... Continue Reading →
(Reuters) - Mexican national oil company Pemex posted a narrower first quarter net profit of 56.75 billion pesos ($3.15 billion), the state-owned company reported in a filing with Mexico's main stock exchange on Wednesday. During the year-ago period, the Mexican oil giant's profits totaled about $6.2 billion. Revenues during the first three months of the... Continue Reading →
(Reuters) Denmark's Orsted, the world's No. 1 offshore wind farm developer, on Wednesday reported first-quarter operating profit in line with expectations, and confirmed its full-year guidance given earlier in the year. First-quarter earnings before interest, tax, depreciation and amortization (EBITDA) excluding new partnerships fell 12% to 6.91 billion Danish crowns ($1.02 billion), compared with the... Continue Reading →
Malaysia’s shipping giant MISC Berhad (MISC), an owner and operator of offshore floating and energy-related maritime solutions and services, has unveiled – what it deems to be – the world’s first future-ready newbuild floating production storage and offloading (NBFPSO) vessel at the Offshore Technology Conference (OTC) in Houston. MISC reported on Tuesday, 2 May 2023,... Continue Reading →
(QC) Offshore drilling company Valaris Limited (NYSE: VAL) has announced strong first quarter results for 2023, with new contracts and extensions announced worth approximately $820 million. Among the new contracts is a three-year offshore drilling project in Brazil, which will involve reactivating the VALARIS DS-8 drillship. CEO Anton Dibowitz expressed optimism for the company’s outlook. “We continue to be... Continue Reading →
(Reuters) The head of oil major Shell Plc's Brazilian operations on Monday said a temporary oil-export tax established in March was a concerning development that could hurt the country's investment attractiveness. Brazil's government in March said the temporary, four-month tax would compensate for its decision to partially maintain a tax exemption on fuels for consumers,... Continue Reading →
Fugro has reported a revenue of €465.8 million for the first quarter of 2023, representing an increase of 27.5 per cent, said to be especially related to offshore wind site characterization solutions, with all regions reporting double-digit growth. Overall, revenue in marine was €335.1 million, up by 34.7 per cent, as a result of increasingly... Continue Reading →
(Reuters) - BP (BP.L) made a profit of $5 billion in the first quarter of 2023, up from the previous three months on the back of strong oil and gas trading, but the company's shares fell as it slowed a share buyback programme. BP's results, which beat forecasts, follow a strong showing by rivals including Exxon Mobil (XOM.N) and Chevron last week... Continue Reading →
SBM Offshore is pleased to announce it has signed a 10-year Operations and Maintenance Enabling Agreement with Esso Exploration & Production Guyana Ltd (aka “ExxonMobil Guyana”) for the Operations and Maintenance of FPSOs Liza Destiny, Liza Unity, Prosperity and ONE GUYANA. This framework agreement establishes the new terms related to the operations of the Guyana... Continue Reading →
MODEC plans to raise funds to support future FPSO activities by issuing new shares to MITSUI and Mitsui O.S.K. Lines (MOL), and forming a business alliance with MOL. The company has special-purpose entities providing lease, operation and charters of floating production systems. Projects have been growing in scope and funds required for charter arrangements are... Continue Reading →
Brazil Energy Insight 