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(Reuters) Australia's top oil and gas explorer Woodside Energy posted a 37% drop in annual underlying profit on Tuesday, as lower realised prices for its products offset higher sales and production. Oil and natural gas prices softened in 2023, as slowing global growth and a weaker-than-expected economic recovery in China weighed on demand. "Compared with 2022, 2023 full-year... Continue Reading →
(Reuters) Exxon Mobil Corp said on Monday it may preempt Chevron Corp's acquisition of a 30% stake in a giant Guyana oil block, the centerpiece of its deal for Hess Corp. The companies are in talks on Exxon's claim it has a right to first refusal of any sale of the Stabroek block, a giant field off the coast... Continue Reading →
The platform ship Marechal Duque de Caxias left Yantai, China, today, February 24, heading for the Mero field, operated by Petrobras, in the pre-salt Santos Basin. The platform will start operating in September of this year and has the capacity to produce up to 180,000 barrels of oil and compress up to 12 million cubic... Continue Reading →
(Reuters) - U.S. energy giant ExxonMobil Corp (XOM.N), opens new tab is weighing offers for its oil and gas assets in Argentina's Vaca Muerta shale region, a source familiar with the plan said on Friday, adding there was no time frame for a decision and the sale may not move forward. Bloomberg earlier on Friday reported that... Continue Reading →
Energos Celsius floating storage and regasification unit (FSRU), on a long-term for New Fortress Energy (NFE), has arrived to NFE’s LNG terminal in Barcarena in Brazil’s Pará state. The FSRU Energos Celsius was built by Seatrium and delivered to NFE in December 2023, which then departed from Singapore to Brazil. The FSRU has a nominal regasification... Continue Reading →
(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) ("Valaris" or the "Company") today reported fourth quarter 2023 results. President and Chief Executive Officer Anton Dibowitz said, "We continue to execute on our operating leverage by repricing rigs from legacy day rates to meaningfully higher market rates and successfully delivering reactivated rigs with attractive contracts. At the same time,... Continue Reading →
Despite suffering an adjusted net loss of $74 million during fourth-quarter 2023, offshore drilling company Transocean is in the midst of an upcycle, which CEO Jeremy Thigpen presciently predicted in the company’s third-quarter 2023 earnings call. Now it just needs to pay off. After a tough fourth quarter, Transocean expects to see a meaningful increase in demand for “longer-duration... Continue Reading →
U.S. offshore energy industry equipment maker Dril-Quip has been selected to supply the subsea wellhead systems for the Woodside Energy's Trion development offshore Mexico. The Trion project, a greenfield deepwater development, includes 24 wells across two phases. Woodside's decision to use Dril-Quip's BigBore IIe Subsea Wellheads will leverage the system's field-proven sealing technology and 2... Continue Reading →
(PN) A new giant of the Brazilian seas is taking shape. Equinor announced that it has completed the installation of the topside of the FPSO Bacalhau, which will be installed in the field of the same name, in the pre-salt of the Santos Basin. The topside is the structure at the top of the ship's... Continue Reading →
(OM) Global energy demand continues to ramp up as the world economy emerges from the constraints of the COVID-19 pandemic. According to the US EIA, liquids consumption has grown by 10% over the past three years, averaging 101 MMb/d in 2023. The rebound in oil demand to above pre-pandemic levels continues to spur investments in... Continue Reading →
Brazil Energy Insight 