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Keppel Offshore & Marine, an offshore construction subsidiary of Singapore's Keppel Corp, expects challenging conditions ahead due to the drop in oil prices but says its business diversification into gas and renewables has paid off. The company has traditionally been called an "offshore rig builder" as this was the Keppel O&M's core business in the... Continue Reading →
Singapore’s offshore rig and vessel builder Keppel Offshore & Marine saw its quarterly profit halved despite a significant increase in revenues. Keppel Corporation said on Wednesday that its Offshore & Marine (O&M) Division registered a net profit of S$3 million ($2.1 million) for 1Q 2020, compared to a net profit of S$6 million ($4.2 million)... Continue Reading →
Apr 28, 2020 Petrobras has postponed, once again, the delivery dates for the proposals for two tenders for the chartering of offshore rigs. The receipt of bids was scheduled for April 30, but the bidding committee moved the deadlines to May 30. Amid the Covid-19 crisis and the renegotiation of ongoing contracts bidders see future... Continue Reading →
Malaysian FPSO supplier Yinson has signed a deal with Japan's Sumitomo for the latter's participation in the Marlim FPSO project. Yinson said Thursday that the two companies concluded an agreement for their participation in the charter, operations, and maintenance of FPSO Anna Nery, an FPSO for Petrobras' Marlim revitalization project in Brazil. Continue reading
FPSO operator BW Offshore has signed an agreement with Petrobras for an extension of the lease and operation of BW Cidade de São Vicente in Brazil. BW Offshore said on Tuesday that the extension was for 48 days and that the contract would expire on 11 June 2020. Continue reading
Angolan state oil company Sonangol said on Friday it has opened a public tender to sell its stakes in some private firms as part of a government bid to privatize key state assets including parts of Sonangol itself by 2022. Describing Sonangol as an "octopus," the country's minister of Mineral Resources and Petroleum, Diamantino Azevedo,... Continue Reading →
Apr 27, 2020 Petronas group company, Misc, negotiates with Petrobras the chartering of the third production unit for the Mero 3 field. Petrobras and Misc initiated direct negotiation of the daily rate offered in the tender for the charter of the FPSO of Mero 3 - an indication that the group offered a lower price... Continue Reading →
-Diamond Offshore Drilling Inc., the rig contractor controlled by Loews Corp., filed for bankruptcy amid an unprecedented crash in crude prices that’s wrecking demand for oil exploration at sea. The company listed $5.8 billion of assets and $2.6 billion of debt in a Chapter 11 petition filed in Houston, citing year-end 2019 data. It has... Continue Reading →
Apr 23, 2020 The National Health Surveillance Agency - ANVISA confirmed contamination by Covid-19 on four vessels supporting the services of offshore oil platforms. The vessels are anchored in Guanabara Bay after confirmation of contamination by Covid-19. In addition to the Subsea 7 Brasil support vessel, with three confirmed cases, Fulmar support vessels are anchored,... Continue Reading →
Italian oilfield contractor Saipem sank into the red in the first quarter of the year dragged down by impairments in the Offshore Drilling division. According to its report on Thursday, Saipem’s revenues in the first quarter of 2020 totalled €2.17 billion ($2.34Bn), a 0.7 per cent increase compared to €2.16 billion ($2.22Bn) in the first... Continue Reading →
Brazil Energy Insight 