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Offshore installation services firm Subsea 7 said Friday it had won a substantial contract in West Africa. Subsea 7 defines a substantial contract as being between $150 to $300 million. In a brief statement in which it didn't reveal much, Subsea 7 said the contract was for the engineering, procurement, installation, and commissioning of flowlines... Continue Reading →
(Reuters) - Wind turbine maker Vestas (VWS.CO) posted a deep first-quarter loss and slashed its 2022 margin forecast due to the war in Ukraine and writedowns in its offshore business, reflecting an industry wide struggle to turn a profit despite record demand. Focus on renewables has intensified as the West steps up efforts to wean itself off... Continue Reading →
(Reuters) Spanish energy group Repsol is taking a "softer" approach to its search for a partner for its newly created renewables unit as oil and gas prices are helping the company generate cash, its chief executive said on Thursday. Along with major European energy companies like BP and TotalEnergies, Repsol has been investing in low-carbon... Continue Reading →
Subsea 7 has reported a revenue of $1.2 billion in the first quarter of 2022, an increase of $197 million or 20% compared to Q1 2021, said to reflect strong growth in the Subsea and Conventional business unit. According to the UK-based company, the increase in revenue is impacted by significant activity on the Sakarya project... Continue Reading →
(Reuters) - German oil and gas producer Wintershall Dea (WINT.UL) said on Thursday it will look beyond Russia for growth in a "fundamental" change for the company, but will retain its assets there to avoid them falling to the Russian state. "There can be and will be no 'business as usual' with Russia now," Chief... Continue Reading →
(Reuters) Singapore's Sembcorp Marine (Sembmarine) has agreed to a multi-billion dollar merger with Keppel Corp's larger offshore and marine unit, a year after the Temasek-backed firms began deal talks to cope with an industry downturn. The loss-making oil rig builders have been whiplashed by years of oversupply and oil price volatility as well as a... Continue Reading →
(PN) Bureau Veritas announced that it has taken over the internal audit of the Operational Management System of the onshore and offshore installations of the oil company 3R Petroleum. The company will be responsible for evaluating the compliance of the company's operations based on the technical regulations of the National Petroleum Agency (ANP). In addition,... Continue Reading →
(PN) News in the leadership of the British oil company BP. The executive Adriano Bastos took over this month as the company's Head of Country in Brazil. He returned to the country after serving as president of BP in Angola. Bastos replaced Mario Lindenhayn, who has been BP's Head of Country in Brazil. “Adriano will... Continue Reading →
(Reuters) Wood Plc said on Wednesday its Chief Executive Officer Robin Watson plans to retire and the British oilfield services and engineering firm also posted a drop in full-year revenue, sending its shares down as much as 6% in early trade. The London-listed company's revenue for the year ended Dec. 31 was down 14% on... Continue Reading →
(PN) Petrobras announced that it achieved a new national record in well construction in deep waters. The feat was achieved in the Marlim field, in the Campos Basin. The 7-MRL-233H-RJ well is in a water depth of 850 meters and was built in just 35 days. The record surpasses the company's best result so far... Continue Reading →
Brazil Energy Insight 