Offshore drilling contractor Noble Corporation has been awarded a long-term extension for the ultra-deepwater drillship Noble Tom Madden from ExxonMobil. Noble said on Thursday that it has been awarded approximately 6.5 years of additional contract term under the commercial enabling agreement (CEA) with ExxonMobil for work offshore Guyana. The Noble Tom Madden was previously contracted... Continue Reading →
Why We Should Leave Old Oil Rigs in the Sea – and Why We Don’t
Decommissioning the UK’s offshore oil and gas infrastructure will cost the taxpayer £24 billion, according to estimates from HMRC. So why can’t we leave man-made structures in the sea and thereby save the cost of removal and recycling? That would be a big win for the public purse. However, to do that, we would have to test... Continue Reading →
Chevron’s Market Value Surpasses Exxon’s for the First Time
Chevron’s market value leapfrogged that of Exxon Mobil for the first time on Wednesday during a week in which it closed a $4.1 billion, all-stock deal for Noble Energy, a smaller oil and gas producer. Chevron’s market cap ended the day around $142 billion, topping Exxon Mobil’s $141.65 billion market value at the end of... Continue Reading →
ANP APPROVES EQUINOR AND FIVE MORE COMPANIES IN THE PERMANENT OFFER
National Petroleum Agency (ANP) made an announcement related to the Second Permanent Offer Cycle, which had six more companies registered. The new companies approved for the cycle, scheduled for December, are: ETEP Indústria Metalúrgica, CE Engenharia, Equinor Brasil Energia, Phoenix Oil & Natural Gas, Subtec Serviços and Tarmar Energia. With these new approvals, the second... Continue Reading →
Premier Oil, Chrysaor Merger a “Win-Win” Analyst Says
As London-listed Premier Oil and UK North Sea focused Chrysaor announced their proposed all-stock merger this week, creating one of the largest UK North Sea oil and gas producers, Global Data analysts think the deal is a "win-win." As reported Tuesday, Premier said it would merge with Chrysaor through a reverse takeover, with London listing... Continue Reading →
Venezuela, Once an Oil Giant, Reaches an End of an Era
CABIMAS, Venezuela — For the first time in a century, there are no rigs searching for oil in Venezuela. Wells that once tapped the world’s largest crude reserves are abandoned or left to flare toxic gases that cast an orange glow over depressed oil towns. Refineries that once processed oil for export are rusting hulks,... Continue Reading →
Sale of Liquigás by Petrobras should be conditioned to an agreement recommends Cade
The conclusion of the operation by which Petrobras PETR4.SA negotiated the sale of its Liquigás liquefied petroleum gas distribution unit to a group formed by Copagaz, Itaúsa and other companies will depend on an agreement with the Brazilian regulatory agency CADE. As published in the Official Gazette, the General Superintendence of the Administrative Council for... Continue Reading →
Total adds another floating wind project to its portfolio
Total has bought a 20 per cent stake in the EolMed floating wind pilot project in France, located in the Mediterranean Sea, off the coast of Gruissan and near Port-La-Nouvelle. The 30 MW EolMed will feature three MHI Vestas 10 MW turbines installed on Ideol’s Damping Pool floating foundation and is scheduled to be built in 2023.... Continue Reading →
Gulf of Mexico: Storm-weary Offshore Oil Firms Prep for Massive Hurricane
Oil and gas workers withdrew en masse from offshore production facilities as Hurricane Delta grew into a powerful storm over the Caribbean on its way to the Gulf of Mexico. Delta's winds reached 145 miles per hour (235 kph) as the storm sped toward Mexico's Yucatan peninsula and eventual entry into the Gulf of Mexico,... Continue Reading →
ENGIE PICKS CATHERINE MACGREGOR TO COMMAND ITS OIL AND GAS SECTOR
Engie appointed executive Catherine MacGregor as the new CEO of the oil and gas sector as of January 1, 2021. The appointment comes eight months after the removal of Isabelle Kocher. MacGregor, 48, is French and currently runs Technip Energies, after having spent 23 years in the oil services group of the also French group... Continue Reading →
