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(OE) Dutch heavy lift shipping and offshore transport and installation contractor Jumbo Offshore has signed a memorandum of understanding (MoU) with Sea Horizon Offshore Marine Services, which will act as its representative in the Middle East region. Sea Horizon Offshore, with its broad network of local partners, will represent Jumbo Offshore to potential clients in... Continue Reading →
(OET) The offshore drilling market has been reaping the benefits of the ongoing upcycle, as rising demand and tightening supply brought higher day rates and fleet utilization in 2023. Will this trend continue in 2024? Westwood Global Energy, an energy market research and consultancy firm, has outlined its top three predictions for the year ahead,... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has received a communication from Mubadala Capital proposing the formalization of recent discussions on the formation of a potential strategic partnership for the development of downstream in Brazil, in continuity with the memorandum of understanding released on September 4, 2023. The initiative has as its scope businesses... Continue Reading →
Yinson Production officially named its latest addition to the fleet, FPSO Atlanta, during a naming ceremony held at Dubai Drydocks World on December 13, 2023. FPSO Atlanta has a production capacity of 50,000 BOPD and a maximum storage capacity of 1,251,000 bbls. It will feature a carbon management process plant, which uses fuel gas for cargo... Continue Reading →
Yinson Production, a subsidiary of Kuala Lumpur-based energy infrastructure and technology company Yinson Holdings, has hosted dignitaries from Brazil, who came to visit a floating production, storage, and offloading (FPSO) vessel, destined to work at Enauta’s field off the coast of Brazil. At the start of December 2023, several dignitaries – Rui Costa, Chief of Staff at... Continue Reading →
(Bloomberg) -- Brazil’s state-controlled oil explorer is considering opening a Middle East unit as Latin America’s biggest crude producer prepares to join OPEC+’s cooperation charter. Petrobras will begin formal analysis later this month on establishing a subsidiary intended to strengthen commercial ties in the Persian Gulf region, Chief Executive Officer Jean Paul Prates wrote in... Continue Reading →
(Reuters) - Brazil has signed onto an agreement to triple renewable energy globally by 2030 and shift away from using coal, the country's Foreign Ministry said on Friday, joining a prospective deal backed by the European Union, U.S. and United Arab Emirates. South America's largest country is now one of roughly 100 countries that have signed onto... Continue Reading →
(Reuters) Shell on Thursday reported third-quarter earnings of $6.2 billion, in line with expectations, on higher refining margins and strong liquefied natural gas (LNG) trading. The company announced share buybacks of $3.5 billion over the next three months, up from $2.7 billion in the previous three months. It maintained its dividend unchanged at $0.331 per... Continue Reading →
Fugro’s revenue for the third quarter of 2023 is €608.9 million, an increase from €480.2 million reported in the same quarter of 2022 – a result said to be due to better contracting conditions, high activity levels and good project execution. Fugro reported that its revenue was up by 32.6% on a currency-comparable basis, by... Continue Reading →
(Reuters) Abu Dhabi's Masdar is set to buy a 49% stake in Spanish utility Iberdrola's largest offshore wind project off Scotland's coast, known as East Anglia 3, Spanish newspaper Cinco Dias reported on Tuesday, citing unidentified market sources. The acquisition will be worth around 2 billion euros ($2.14 billion), the report added, as the entire... Continue Reading →
Brazil Energy Insight 