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Singapore's Keppel Offshore & Marine has won contracts for the conversion of a Floating Storage and Regasification Unit (FSRU) and the integration of a Floating Production Storage and Offloading vessel (FPSO). For the first project, Keppel Shipyard signed a Limited Notice to Proceed (LNTP) with what it said was a global provider of LNG shipping... Continue Reading →
Companies in the most polluting sectors that have invested in climate action often find themselves valued below peers that have been slower to do so, highlighting the difficulty of getting shareholders to back sustainability. Investors have poured more than $30 trillion into environmental, social and corporate governance (ESG) strategies, data from the Global Sustainable Investment... Continue Reading →
BP said on Thursday it had started production at the Platina oilfield offshore Angola, helping Africa's second biggest oil exporter slow a decline in output. The Platina field will be linked to BP's existing Greater Plutonio floating production, storage and offloading (FPSO) system in Angola's Block 18 which started up in 2007. It will produce... Continue Reading →
The U.S. is leaving Venezuelan operations of Chevron Corp. and top American oil-service companies at a standstill after President Nicolas Maduro’s socialist party came victorious in regional elections questioned by several Western nations. The U.S. Treasury Department on Wednesday extended until June. 1 its authorization for Chevron, Halliburton Co., Schlumberger, Baker Hughes Co. and Weatherford International Plc... Continue Reading →
(Reuters) - Brasil BioFuels will build the country's first plant to produce Hydrotreated Vegetable Oil, a fuel known as HVO or 'green diesel'. The plant will be in the northern city of Manaus and will begin production in January 2025, demanding 1.8 billion reais ($322 million) in investments. The plant will have an annual capacity... Continue Reading →
(Reuters) - A Brazil's state-controlled company that manages the government share of oil produced in the subsalt areas estimates the government will raise $116 billion selling oil through 2031. State-controlled PPSA CEO Eduardo Gerk estimates production of 8.2 billion barrels under the so-called production sharing contracts over the next 10 years, of which 1.5 billion... Continue Reading →
While oil and gas majors are increasingly entering new offshore wind and green hydrogen projects, it is but a small portion of the overall pie, to quote David Linden from Westwood Global Energy Group. As a reaction to the energy transition, the oil and gas majors are diversifying and now have more of an energy... Continue Reading →
French-American multinational, TechnipFMC recently landed a multi-million dollar contract to supply the subsea equipment for ExxonMobil’s fourth project in the Stabroek Block at the Yellowtail Development area. Based on its analysis of this contract alongside its record of others in the industry over the years, Rystad Energy recently noted that it ranks among the top... Continue Reading →
Norwegian oil and gas company Equinor has extended the contract with the engineering and consulting firm for the delivery of maintenance solutions across the Peregrino wellhead platforms (WHP) and FPSO, located offshore Rio de Janeiro, Brazil. "This is the third one-year extension awarded to the team, with the contract initially secured in 2015 as a... Continue Reading →
(OE) Russian oil company Lukoil has said it has discovered an oil field within the Yoti West structure at Block 12 offshore Mexico. The field was discovered after drilling the first exploration well. According to preliminary estimates, the initial oil in place reaches 250 million barrels, Lukoil said. Lukoil used the Valaris Valaris 8505 semi-submersible... Continue Reading →
