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U.S.-based oil company Talos Energy, working on a unitization agreement for the giant Zama offshore oil discovery in Mexico with the Mexican oil company Pemex, hopes the final solution will see the company lead the development of the field as the operator, and that the parties would realize "true percentages" in the Zama field. Talos... Continue Reading →
Maersk Drilling sold two oil drilling rigs to U.S.-based energy infrastructure company New Fortress Energy Inc (NFE) which it will convert into floating liquefied natural gas (LNG) facilities, the companies said on Monday.Maersk sold the jack-up drilling rig Maersk Guardian to NFE and the two companies have agreed to the sale of the Maersk Gallant offshore... Continue Reading →
The opening months of 2021 have witnessed markedly positive trends in the global subsea market, as evidenced by recent increases of up to 35% in day rates for some vessel types and a doubling of vessel fixtures between January and April compared to the corresponding period last year – much of which pre-dated the Covid-19... Continue Reading →
(Reuters) A Mexican judge has ordered a partial provisional suspension of new hydrocarbons legislation championed by President Andres Manuel Lopez Obrador that gave the state authority to revoke permits, a court document seen by Reuters showed on Monday. The decision suspended certain parts of the law that strengthens state oil company Petroleos Mexicanos (Pemex), which... Continue Reading →
McDermott, an offshore engineering and construction firm, has been chosen by Australia's BHP Billiton, in collaboration with Mexico's Pemex, to provide Front-End Engineering Design (FEED) of a Semi-submersible Floating Production Unit (FPU) for the Trion field develpment offshore Mexico. The semi-sub floater will be designed for a water depth of approximately 8,200 feet (2,500 meters)... Continue Reading →
(Reuters) Petroleos Mexicanos (PEMX.UL) said on Friday its losses narrowed 93% in the first quarter after higher sales, lower imports and tax cuts eased pressure on Mexico's highly indebted state oil company. Pemex, as the company is known, said the net loss of 37.297 billion pesos ($1.8 billion) shrank from 562.130 billion pesos in the... Continue Reading →
Italian oil and gas company Eni booked a net profit of over $1 billion in the first quarter of the year due to a strengthened upstream price environment. Eni said in its financial report on Friday posted a net profit of €856 million ($1.034 billion) due to a strengthened upstream price environment in the first... Continue Reading →
Mexico's Senate on Thursday approved an initiative to remove certain limits on the market power of Petroleos Mexicanos (Pemex), in the latest boost for the state oil company under President Andres Manuel Lopez Obrador. A few days after a congressman from Lopez Obrador's National Regeneration Movement (MORENA) proposed it, the Senate signed off a measure... Continue Reading →
(Reuters) -A Canadian man once employed by the commodities trading house Gunvor Group pleaded guilty on Tuesday to involvement in what U.S. prosecutors called a scheme to bribe Ecuadorean government officials to win business from state-controlled oil company Petroecuador. Raymond Kohut, 68, entered his plea to a money laundering conspiracy charge before U.S. District Judge... Continue Reading →
A Stena Drilling-owned drillship, Stena IceMAX, has arrived in Mexico ahead of its contract with the Spanish oil company Repsol. In a social media update on Wednesday, Stena Drilling said that the Stena IceMax rig had arrived in Tampico, Mexico to finalise preparations for its upcoming contract with Repsol. Repsol awarded the contract to the Stena drillship... Continue Reading →
Brazil Energy Insight 