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(World Oil) Operators are strategically navigating the changing dynamics of the energy market with continued investment in the floating offshore sector. The offshore energy market is in flux. Economic effects from the Covid-19 pandemic, changing global attitudes toward energy, and the growing importance of ESG matters have disrupted the ways that companies do business. Although... Continue Reading →
Brazilian oil company Enauta said Thursday it has signed a Memorandum of Understanding (MoU) with Malaysia's FPSO specialist Yinson for direct and exclusive negotiation of FPSO supply contracts for the "Definitive System" of the Atlanta field in the Santos Basin, offshore Brazil. Enauta has been producing oil from the field using the FPSO Petrojarl I... Continue Reading →
(Reuters) - PetroChina (601857.SS)aims to have oil, gas and green energies to each account for a third of its portfolio by 2035, it said on Thursday, as the Chinese oil major shifts toward a lower-carbon future. For PetroChina, Asia's largest oil and gas producer, natural gas currently accounts for about 47% of total output and oil... Continue Reading →
(Reuters) - Venezuela's socialist government sees the swap it made last week of shares in a Dominican oil refinery for defaulted bonds as a possible model for future deals, as it seeks to mend ties with creditors, four people familiar with the operation said. Such debt-for-equity swaps are common in corporate bankruptcy proceedings and have... Continue Reading →
A deadly accident on an offshore platform belonging to Mexican state oil company Pemex "may slow" the company's production growth rate, ratings agency Fitch said in a statement on Tuesday, after officials confirmed a sharp hit to output. The rating agency warning follows the weekend incident in the southern Gulf of Mexico which engulfed in... Continue Reading →
The ANP's Special Bidding Commission (CEL) approved the registration of the Australian oil company Karoon in the 17th round, scheduled to take place on 7 October. The company is the seventh approved by the agency to participate in the auction, which will offer areas in the Campos, Santos, Pelotas and Potiguar basins. -- Last week,... Continue Reading →
E&P company BW Energy has made an oil discovery in the Hibiscus North exploration well (DHBNM-1) in the Dussafu Block offshore Gabon. The well is located approximately 6 km north-northeast of the Hibiscus discovery well DHIBM-1 in approximately 115 metres of water depth. The company announced the spudding of the well on 28 July 2021. The well... Continue Reading →
Strohm has entered into a joint industry programme (JIP) with Petrobras and Shell for its thermoplastic composite pipe (TCP) flowline and riser technology. Described as game-changing, the four-year project aims to deploy Strohm’s TCP flowline and riser technology offshore Brazil by 2024. The JIP builds on earlier work performed in Brazil and commences this month. Strohm will develop, qualify and... Continue Reading →
(OE) Brazilian oil firm Enauta said Wednesday that its Atlanta field in the Santos Basin, offshore Brazil, had resumed full production following a recent pumping system failure. Enauta said Wednesday that all the wells tied to the early production system - the Petrojarl I FPSO - are operational following the completion of repairs of oil heaters.... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 08/12/2021, informs that today it received cash payment of US$ 2.9 billion for the obligations of its partners CNODC Brasil Petróleo e Gás Ltda. (CNODC) and CNOOC Petroleum Brasil Ltda. (CNOOC) in the Búzios Coparticipation Agreement (Agreement). With this payment, Petrobras will issue... Continue Reading →
