ExxonMobil orders TechnipFMC subsea production system for Guyana project

TechnipFMC has secured a “large” contract by ExxonMobil to deliver a subsea production system for a recently sanctioned oil development project in Stabroek block offshore Guyana. Under the contract awarded by ExxonMobil affiliate Esso Exploration and Production Guyana, TechnipFMC will provide project management, engineering, and manufacturing to deliver the overall subsea production system for the Uaru project. The... Continue Reading →

Equinor and Partners Invest $9 Billion in BM-C-33 Offshore Project in Brazil

Equinor, Repsol Sinopec Brasil, and Petrobras have taken the investment decision to develop the BM-C-33 project in Brazil. The investment is approximately USD 9 billion. Located in the Campos Basin, BM-C-33 comprises three different pre-salt discoveries – Pão de Açúcar, Gávea and Seat – containing natural gas and oil/condensate recoverable reserves above one billion barrels... Continue Reading →

PRIO 1Q23 Earnings Release

Petro Rio S.A. (“Company” or “PRIO”) (B3: PRIO3) announces its earnings for the first quarter of 2023. HIGHLIGHTS FOR THE PERIOD Click here for the Earnings Release.

Noble rig hits oil-bearing intervals off Guyana and JV partners hike up cost estimates to finish drilling ops

(OED) Partners in the Corentyne block – Canada’s CGX Energy and Frontera Energy – have revised the total cost estimate for an exploration well, which recently found oil-bearing intervals, and its drilling programmed offshore Guyana, which is being carried out by a Noble-owned rig. Back in February 2022, Frontera and CGX disclosed a plan to spend... Continue Reading →

Technip Energies Sets Up Green Hydrogen JV, Beats Quarterly Earnings Expectations

(Reuters) French oil and gas services group Technip Energies on Thursday announced a green hydrogen solutions joint-venture with Belgian group John Cockerill, while reporting stronger-than-expected first-quarter earnings.  The need to combat climate change, along with Russia's invasion of Ukraine, have created opportunities for energy service firms, with increased investments in liquefied natural gas (LNG) and... Continue Reading →

Equinor beats Q1 forecast on strong energy trading

 (Reuters) - Norway's Equinor (EQNR.OL) beat first-quarter profit expectations on Thursday, driven by strong results in energy trading, although earnings were below last year's record amid a sharp fall in natural gas prices. The oil and gas producer said adjusted profit before interest and tax for January-March fell to $12 billion from $18 billion a year earlier,... Continue Reading →

Shell posts $10 billion profit as trading offset lower energy prices

(Reuters) - Shell (SHEL.L) on Thursday posted first-quarter net profit of $9.65 billion, topping analysts' forecasts, as strong earnings from fuel trading and higher liquefied natural gas (LNG) sales offset cooling energy prices. The stronger-than-expected profits followed a string of forecast-beating results from rivals including BP (BP.L) and Exxon Mobil (XOM.N) as the sector continues to benefit from strong demand and price volatility.... Continue Reading →

Early Start for ‘Safe Zephyrus’ in Brazil

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 →

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