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4Subsea, a provider of tech solutions for the offshore energy industry, has secured a service agreement to monitor steel catenary risers on the Bacalhau field FPSO, offshore Brazil. The field, in Brazil's Santos Basin, is operated by Norway's Equinor. 4Subsea, part of Subsea 7, will deliver the service using its 4insight Subsea Asset Integrity a... Continue Reading →
(Reuters) - A consortium led by Aguila Energia has placed the highest bid for Brazilian state-run oil company Petrobras' Bahia onshore fields, offering over $1.5 billion, according to two sources with knowledge of the situation. Petroleo Brasileiro, as the company is formally known, declined to comment. The proposal by Aguila Energia, a company founded by... Continue Reading →
(OE) That’s the question? Or, more specifically, are there alternative ways of delivering robotics to where they’re needed without having to have seabed docking stations? Elaine Maslin takes a look. The idea for some kind of resident subsea vehicle has been around for some time. From BP’s considerations in 1986 for an integrated ROV launch... Continue Reading →
Chevron Corp on Monday set a target to cut operational emissions to net zero by 2050, joining a list of energy companies taking steps to reduce their carbon footprint. The move to cut upstream emissions from its own operations and indirect emissions such as those from power generation comes as investors and governments increase pressure... Continue Reading →
(Portos e Navios) Seadrill is close to winning two new charter contracts with Petrobras, rebuilding its business portfolio in Brazil. The oil company hammered out the contracting of the West Tellus and West Carina drillships, offered in the tender for 2,400 m units. West Tellus and West Carina will be chartered at daily rates of... Continue Reading →
(Offshore) Wood Mackenzie estimates that the global upstream industry could net a windfall of over $1 trillion if oil prices remain above the $50/bbl planning price. According to research director Kavita Jadhav, there are various ways the industry could invest the extra revenue. These include returning cash to shareholders, maintain spending on oil and gas, and... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 05/10/21, informs that it concluded on 10/08/2021 the sale of its 50% stake in the onshore field of Rabo Branco, located in the Sergipe-Alagoas Basin, in the State of Sergipe, to the company Petrom Produção de Petróleo & Gás Ltda. (Petrom). The sale... Continue Reading →
Oil and gas company BW Energy, in partnership with Vaalco Energy and Panoro Energy, has been awarded two exploration blocks offshore Gabon, close to its Dussafu licence and within tie-back distance of existing infrastructure. According to its update on Monday, BW has been provisionally awarded operatorship of two blocks in the 12th Offshore Licensing Round... Continue Reading →
Qatar changed the name of its state-owned oil and gas firm to Qatar Energy from Qatar Petroleum to reflect what it said was a broader strategy but said it had no plans to sell assets to raise funds as other Gulf state producers have. "We have plenty of cash," Chief Executive Saad al-Kaabi said on... Continue Reading →
(Bloomberg) --Major energy traders including Gunvor Group Ltd. and Mercuria Energy Group Ltd. have reduced the size of their trading positions and increased borrowing from lenders to cover large margin calls stemming from the unprecedented surge in European gas prices, according to people familiar with the matter. Commodity trading houses have been expanding their natural... Continue Reading →
Brazil Energy Insight 