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Norway-based energy intelligence firm Rystad Energy said Tuesday it didn't expect any new FPSO orders this year, however, it expects the situation will improve next year when it foresees seven new FPSO to be ordered. "Hit by the second industry downturn in five years, global awards for floating production, storage and offloading (FPSO) vessels will... Continue Reading →
Petrobras is preparing to launch a tender to build Brazil's largest-ever oil platform, according to two people with knowledge of the matter, as the state-controlled oil firm pushes ahead with ambitious plans to boost deepwater production. Petroleo Brasileiro SA, as the Rio de Janeiro-based producer is formally known, plans to launch the leasing tender for... Continue Reading →
Jul 8, 2020 Shell found new evidence of oil in well 3-SHEL-32D-RJS, in the south of Gato do Mato, in the Santos Basin pre-salt. The drilling of the 3-SHEL-32D-RJS started in March. This is the third occurrence in the block, where the oil company is conducting a campaign with the Brava Star rig, in a... Continue Reading →
Pemex’s nearly $105 billion in debt already makes it the biggest borrower of any oil company in the world. And it’s accruing more. Pemex is asking some of its contractors if they can wait until next year to be paid money that is owed to them now, according to people with knowledge of the situation,... Continue Reading →
Knutsen NYK Offshore Tankers AS (KNOT), a joint venture between Japanese shipping major NYK and Norway’s TS Shipping Invest (TSSI), has concluded a first long-term time charter contract for a shuttle tanker with PetroChina International (America), part of PetroChina Company Limited. As informed, the contract is for a period of up to ten years starting... Continue Reading →
Italian oil major Eni is expecting to report impairments of around 3.5 billion euros (cca. $3.96 billion) as a result of a lower outlook for energy prices. Eni said on Monday that it was cutting its forecasts for oil and gas prices, both in the short and long term. Continue reading
French major Total has been named the upstream industry’s most-admired explorer, an accolade awarded in conjunction with Wood Mackenzie’s annual Exploration Survey. Dr. Andrew Latham, Vice President, Global Exploration Research, at Wood Mackenzie, said: “For the past 12 years, Wood Mackenzie has named the industry’s Most-Admired Explorer after collating the results of our industry-leading annual... Continue Reading →
July 3, 2020 Equinor intends to keep its US $ 15 billion investment plan active in the country, despite the expectation of a reduction in oil prices for the long term. While combing through its entire portfolio of assets, to fit them with the new reality of the market, the Norwegian oil company ensures that... Continue Reading →
July 2, 2020 The German group Siemens has entered into a partnership with Total to apply new concepts in the production of green Liquefied Natural Gas (LNG). As part of the contract, the Siemens Gas and Power subsidiary is already conducting studies on possible projects for power generation and liquefaction plants, with the ultimate goal... Continue Reading →
Exxon Mobil Corp’s (XOM.N) oil and gas producing and refining businesses will report operating losses in the second quarter, it said in a regulatory filing on Thursday, setting the stage for the company to post another quarterly loss this year. Oil prices are down 35% since January as the COVID-19 pandemic slashed demand and a... Continue Reading →
Brazil Energy Insight 