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(Reuters) - Exxon Mobil Corp on Friday said it is accelerating output at its Guyana's offshore oil development, starting a new production vessel that will bring total production capacity to more than 340,000 barrels per day. An Exxon-led consortium started production in the South America country in 2019 and is responsible for all oil and... Continue Reading →
Ørsted and Eversource have taken the final investment decision (FID) on the South Fork Wind project that will be New York’s first offshore wind farm. The FID comes after the South Fork Wind joint venture, owned 50/50 by Ørsted and Eversource, last month received final approval from the Bureau of Ocean Energy Management (BOEM) for its construction... Continue Reading →
(PN) The board of the National Petroleum Agency (ANP) approved the postponement for five years of the declaration of commerciality of the Jupiter discovery, in block BM-S-24, in the Santos Basin. This is the second time the deadline is extended – the first time was in 2016. The new deadline will be November 2026. The... Continue Reading →
Brazilian shipping company Grupo CBO has added a new platform supply vessel (PSV) to its fleet and signed its second contract for one of its anchor handling tug supply (AHTS) vessels with the Brazilian subsidiary of Australia’s Karoon Energy. Brazil’s offshore vessel operator CBO informed on Thursday that it has completed the acquisition of the PSV CBO... Continue Reading →
(PN) The entry into operation of the first definitive system in the Mero field, in the Santos Basin, will help to jumpstart the global production of French company TotalEnergies. The European oil company announced in its report of the financial and operating results for 2021, that it expects a 2% growth in its hydrocarbon production,... Continue Reading →
(Rigzone) The world’s oil supermajors are pumping out cash as if crude was already trading at $100 a barrel. BP Plc, Shell Plc, TotalEnergies SE, Exxon Mobil Corp. and Chevron Corp. just generated the highest free cash flow since the start of 2008 -- when oil first climbed above $100 a barrel. Crude isn’t that... Continue Reading →
SBM Offshore has issued a progress report on various FPSO construction programs in its latest results statement. The third stage flash gas compressor on the Liza Destiny, which operates on the Liza field offshore Guyana, remains stable and continues to operate. Engineering is in progress on a re-designed flash gas compressor, which should be installed around mid-year.... Continue Reading →
(Reuters) - Italy's Saipem does not face a liquidity crunch for now and should meet an April bond repayment deadline, ratingsagency S&P said, as it races to come up with a rescue plan. The energy services group shocked investors last week when it warned it would report a 2021 loss of over one-third of its... Continue Reading →
French energy major TotalEnergies is withdrawing from its operated project located in the deepwater Gulf of Mexico to focus on better opportunities to allocate its capital. TotalEnergies informed on Thursday that its affiliate, TotalEnergies E&P USA, decided not to sanction and so to withdraw from the North Platte deepwater project in the U.S. Gulf of Mexico. The... Continue Reading →
SBM Offshore shares dived on Thursday after the Dutch oil and gas services company's cautious guidance disappointed the market despite full-year results meeting expectations. For 2022, the group expects revenue to amount to more than $3.1 billion and earnings before interest, taxes, depreciation and amortisation (EBITDA) to reach about $900 million. Analysts polled by the... Continue Reading →
