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Offshore drilling contractor Transocean has secured more work for four of its drillships and one semi-submersible rig, with some getting better day rates than before, pushing its backlog up to $6.5 billion. Transocean published its latest fleet status report on Monday, revealing new contracts and extensions for its fleet of drilling rigs with an aggregate incremental backlog... Continue Reading →
(OE) FPSO leasing company BW Offshore has decided to record an impairment to the book value of the FPSOs BW Athena, Espoir Ivoirien, Sendje Berge, Petróleo Nautipa and Umuroa amounting to $66.6 million in the fourth quarter of 2021 as well as $23.8 million for the loss on the sale of the Joko Tole FPSO.... Continue Reading →
(Reuters) - European banks are providing billions of dollars of funding to expand oil and gas production, a report on Monday showed, despite International Energy Agency guidance against new facilities in order to slow global warming. Last year, 25 of the region's leading banks collectively provided $55 billion to energy companies planning to expand oil... Continue Reading →
(PN) The entry into operation of the first definitive system in the Mero field, in the Santos Basin, will help to jumpstart the global production of French company TotalEnergies. The European oil company announced in its report of the financial and operating results for 2021, that it expects a 2% growth in its hydrocarbon production,... Continue Reading →
(Rigzone) The world’s oil supermajors are pumping out cash as if crude was already trading at $100 a barrel. BP Plc, Shell Plc, TotalEnergies SE, Exxon Mobil Corp. and Chevron Corp. just generated the highest free cash flow since the start of 2008 -- when oil first climbed above $100 a barrel. Crude isn’t that... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it was the winner of the "Deals of the Year" award, promoted by the North American magazine Latin Finance, in the category that highlights the best corporate debt management operation (Corporate Liability Management of the Year), in the year 2021. This is the fourth time, in the last... Continue Reading →
(Reuters) - Italy's Saipem does not face a liquidity crunch for now and should meet an April bond repayment deadline, ratingsagency S&P said, as it races to come up with a rescue plan. The energy services group shocked investors last week when it warned it would report a 2021 loss of over one-third of its... Continue Reading →
SBM Offshore shares dived on Thursday after the Dutch oil and gas services company's cautious guidance disappointed the market despite full-year results meeting expectations. For 2022, the group expects revenue to amount to more than $3.1 billion and earnings before interest, taxes, depreciation and amortisation (EBITDA) to reach about $900 million. Analysts polled by the... Continue Reading →
(Reuters) - TotalEnergies (TTEF.PA) swung back to profit in 2021 thanks to surging oil and gas prices, and announced on Thursday a $2 billion share buyback scheme, an increase in dividends and a series of investments. With net income of $16 billion and adjusted net income of $18.1 billion, the French oil major's results were at their... Continue Reading →
Brazilian oil and gas company Enauta has concluded the purchase of an FPSO for the Definitive System of its operated Atlanta field located off Brazil. Following a letter of intent from December 2021, Enauta entered into an agreement with Yinson to buy the FPSO OSX-2 in January 2022. The agreement was contingent on compliance with the agreed... Continue Reading →
Brazil Energy Insight 