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New Fortress Energy Inc. (NASDAQ: NFE) (“NFE”) today announced that it has entered into an agreement with Comisión Federal de Electricidad (“CFE”) as part of a growing strategic alliance supported by His Excellency Andrés Manuel López Obrador, the President of Mexico, and by Manuel Bartlett, the CEO of CFE. The agreement involves (i) expanding and... Continue Reading →
(Reuters) - Two U.S. investment funds on Tuesday said they formed a joint venture with a Venezuelan firm to pursue oil and gas exploration and production projects in the U.S.-sanctioned South American country. Gramercy Funds Management and Atmos Global Energy said their joint venture would work with an arm of Inelectra Group, a Caracas-based firm... Continue Reading →
Oilfield services firm TechnipFMC has signed a letter of intent with the Norwegian oil company Equinor for an integrated Front End Engineering and Design (iFEED) study on its BM-C-33 project offshore Brazil. The study will finalize the technical solution for the proposed gas and condensate greenfield development in the pre-salt Campos Basin before Equinor makes its final investment decision (FID). The FEED study includes an option to proceed with a direct award to TechnipFMC for the integrated Engineering, Procurement, Construction and Installation (iEPCI) phase of the... Continue Reading →
(Reuters) - The first Venezuelan crude cargoes sent to Europe in two years helped lift the OPEC nation's oil exports by 61% last month after a series of setbacks earlier in the year, tanker tracking data and documents from state-run PDVSA showed. Italy's Eni (ENI.MI) and Spain Repsol (REP.MC) started taking Venezuelan crude after receiving a green light from... Continue Reading →
(Reuters) - Wall Street analysts sharply increased their Exxon Mobil Corp(XOM.N)second-quarter profit estimates after a securities filing showed motor fuel sales rose $5 billion from the first quarter. Oil and gas prices soared in the first half, with crude selling for more than $105 per barrel and U.S. pump prices for gasoline surging to about... Continue Reading →
London-listed oilfield services giant Petrofac has won a contract with the oil firm Tullow Oil to provide operations services for Tullow's Jubilee Development offshore Ghana. Petrofac’s role in the Jubilee development in Ghana – one of the largest oil fields discovered offshore West Africa in 20 years – includes the provision of operations, maintenance, and... Continue Reading →
Norwegian oil and gas company Equinor has awarded the drilling contractor Valaris a 540-day drilling contract for the Valaris DS-17 drillship. The offshore drilling contract is for operations in Brazil and is scheduled to start in 2023. Under the contract awarded by Equinor on behalf of the Bacalhau license partners, the Valaris DS-17 drillship will drill an... Continue Reading →
(BW) KNOT Offshore Partners LP (the “Partnership”) (NYSE:KNOP) announced today that its wholly owned subsidiary, KNOT Shuttle Tankers AS, has acquired KNOT Shuttle Tankers 35 AS, the company that owns the shuttle tanker, Synnøve Knutsen, from Knutsen NYK Offshore Tankers AS (“KNOT” “Sponsor”) (the “Acquisition”). The purchase price of the Acquisition, which has been financed on... Continue Reading →
The region could be a key growth market for the oil and gas industry going forward, writes Joshua Belo-Osagie, Maritime Strategies International (MSI). Improving sentiment surrounds energy market prospects offshore West Africa, the positive mood underpinned by higher oil prices, reformed regulatory frameworks in key markets including Angola and Nigeria and the discovery of major... Continue Reading →
(OE) Mexican oil and gas company Pemex has signed a letter of intent with the U.S.-based company New Fortress Energy to resume work on a $1.5 billion offshore gas project in Mexico, Pemex Chief Executive Octavio Romero said on Friday. The agreement is for the development of the long stalled the Lakach non-associated deepwater gas... Continue Reading →
