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Prosafe, a provider of offshore accommodation rigs, sank deeper into the red in the first quarter of 2020 due to impairment charges resulting from the oil price collapse and the coronavirus pandemic. According to its report on Tuesday, Prosafe’s operating revenues in 1Q 2020 were $25 million compared to $67.3 million in the same period... Continue Reading →
Italian provider of oilfield and renewable energy services Saipem has signed a two-year frame agreement with Norway's Equinor covering offshore engineering services worldwide. Per Saipem's statement on Tuesday, The frame agreement covers feasibility and conceptual studies, FEED, detailed engineering, and related follow-on and support for R&D activities, as well as assistance to Equinor for its... Continue Reading →
Tanker operator AET has taken delivery of Eagle Petrolina shuttle tanker which will be used to offload oil from Petrobras' offshore oil platforms in Brazil. The Eagle Petrolina, built by South Korea's Samsung Heavy Industries, is the first of four Suezmax Dynamic Positioning (DP2) Shuttle Tankers purposed built for long-term charter to Petrobras. Continue reading
May 25, 2020 The Oil Group signed an agreement with Porto do Açu, in São João da Barra (RJ), to install a refinery with a production capacity of 20 thousand barrels per day of light derivatives. The intention is to start operations in 2024, through investments of US $ 300 million. - The Oil Group... Continue Reading →
(Reuters) - Norway’s Equinor ASA (EQNR.OL) and Anglo-French firm Perenco are among at least five oil producers that have registered coronavirus cases among employees or contractors at facilities off the coast of Brazil, according to industry and regulatory sources. Royal Dutch Shell PLC (RDSa.L) and Brazil’s Enauta Participacoes SA ENAT3.SA have registered one case each,... Continue Reading →
The total value of the global pool of offshore oil and gas decommissioning projects that will accumulate through 2024 could reach $42 billion, with the North Sea region taking up the biggest chunk, most notably the UK part, energy intelligence company Rystad Energy said in a report. Rystad says that, with an average asset age... Continue Reading →
Offshore drilling company Noble Corporation has executed the leadership transition plan announced in February 2020 and now has a new CEO. Robert W. Eifler has been named President and Chief Executive Officer and has been elected as a member of the Board of Directors. He first joined Noble in 2005 has most recently served as... Continue Reading →
May 21, 2020 The drilling of the first exploratory well in block C-M-657, in the Campos Basin, will be anticipated from June to May. The activity in the block acquired in the 15th round by Petrobras, in partnership with ExxonMobil and Equinor, will be carried out in the Naru prospect. Seadrill rig chartered by Petrobras... Continue Reading →
Oilfield services provider Halliburton has decided to cut its dividend amid uncertainties related to the duration of the market downturn. Halliburton said on Wednesday that its board of directors had declared a 2020 second-quarter dividend of four and one-half cents ($0.045) a share on the company’s common stock payable on 24 June 2020, to shareholders... Continue Reading →
Oilfield services and equipment provider National Oilwell Varco said Wednesday that its Board of Directors elected to suspend the quarterly dividend until further notice. Clay Williams, Chairman, President, and CEO said: "With the view that capital is becoming increasingly scarce and valuable within our industry, we believe that it is in the best long-term interest... Continue Reading →
Brazil Energy Insight 