(Bloomberg) --Canadian oil prices are poised to strengthen next year as Mexican heavy crude exports to U.S. Gulf Coast refineries dwindle, according to BMO Capital Markets. Heavy Western Canadian Select’s discount to the West Texas Intermediate benchmark could narrow to $5 to $7 a barrel next year, BMO said in a report Wednesday. Oil sands... Continue Reading →
Brazil: Karoon Gets ANP Approval to Take Over Bauna Field
Australian oil and gas company Karoon Energy said Friday that the Brazilian national oil regulator ANP had approved, with conditions, Karoon's acquisition of the Bauna offshore field from Petrobras. The field is located in shallow waters in the Santos Basin in concession BM-S-40, 50-60km from Karoon’s Neon and Goiá discoveries, and 50km from Karoon’s Clorita... Continue Reading →
The Pipeline Repair Busters: Being ready for the worst case
Pipeline repair isn’t a frequent activity but when it is needed it’s a critical activity. New tools are being developed and demonstrated to also make it safer and more efficient, and yet challenges remain, such as higher pressure, deeper water, and bi-metallic pipeline repairs. Elaine Maslin reports Pipeline repairs are not that frequent. But the... Continue Reading →
MODEC hires GranEnergia’s flotel for Brazil campaigns
Japan’s FPSO provider MODEC has contracted GranEnergia for the provision of its UMS Venus, a semi-submersible accommodation unit also known as flotel, to support its offshore maintenance campaigns in Brazil. GranEnergia said on Thursday that the UMS Venus will provide MODEC with a safe and stable platform, to execute its offshore maintenance campaigns scheduled for... Continue Reading →
Helix Energy Solutions books lower profit and revenues in 3Q
Oilfield services provider Helix Energy Solutions saw its profit and revenues drop in the third quarter of 2020 compared to the same period last year due to lower utilization and activity. Helix Energy on Wednesday reported a net income of $24.5 million for the third quarter of 2020 compared to $31.7 million for the same... Continue Reading →
Red numbers for PGS
PGS has seen red in the third quarter of 2020 as revenues fell close to 70 per cent. The Oslo-listed seismic player reported quarterly loss of $32.6 million, or 8 cents per share on revenues of $85 million. This result compares against profit of $31.5 million, or 9 cents per share on 276.5 million revenues in the... Continue Reading →
Baker Hughes Takes Offshore Energy’s Digital Path to “The Next Level”
"We are doing something amazing in Baker Hughes,” said Alex Seinuah, the leader of Baker Hughes’ Growth Initiatives Hub. “I call the hub a start-up business. Within the hub we look at disruptive technologies and services that we believe will deliver value to our customers. Within the hub we look at digital specifically for production... Continue Reading →
Third Straight Quarterly Loss for Baker Hughes
Baker Hughes Co reported a third straight quarterly loss on Wednesday, as a coronavirus-induced slump in commodity prices continued to hurt demand for equipment and services. Producers have been drilling fewer wells following a collapse in crude oil prices this year as demand for oil products has sunk. The downturn has hit rivals Schlumberger NV... Continue Reading →
Maersk Drilling’s Drillship to Drill More Wells for Total in Angola
Danish offshore drilling company Maersk Drilling has secured more work for its Maersk Voyager drillship with Total in Angola. The contract is for three development wells, to be drilled at Total's offshore Block 17. According to Maersk Drilling, the contract has an estimated span of 140 days. This will keep the Maersk Voyager rig busy contracted until... Continue Reading →
Fluor’s Stork Awarded 5-Year Pipeline Maintenance Contract in Peru
(BUSINESS WIRE)--Fluor Corporation (NYSE: FLR) announced today that Stork, part of Fluor’s Diversified Services segment, was awarded a new approximately five-year contract under the consortium of CMgP, Consorcio Mantenimiento de Gasoductos del Peru, (Stork Peru S.A.C. and SICIM S.P.A.) by Compañía Operadora de Gas, S.A.C – COGA in Peru. Fluor booked the undisclosed contract value in the... Continue Reading →
Brazil Energy Insight 