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 →
Halliburton cuts dividend due to market conditions
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 →
National Oilwell Varco Suspends Dividend as Capital Becomes Scarce
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 →
Chinese oil demand is almost at pre-crisis virus levels
May 20, 2020 Chinese demand for oil is almost at the levels last seen before Beijing imposed national isolation to combat the coronavirus outbreak, according to people with knowledge of the country's energy sector operations. China is the second largest consumer of oil in the world, behind the United States, and the country's rapid recovery... Continue Reading →
Angola’s Oil Exploration Evaporates
The coronavirus pandemic has done in a handful of months what even a 27-year civil war did not: it has brought oil drilling to a halt in Angola, Africa's second-largest oil producer. The consequences could be grave for a poor country that relies heavily on oil revenues and is saddled with debts that exceed its... Continue Reading →
Siemens Gamesa Launches 14MW Offshore Wind Turbine
Wind turbine maker Siemens Gamesa has unveiled a new SG 14-222 DD offshore Direct Drive wind turbine with 14-megawatt (MW) capacity. The capacity can reach up to 15 MW using the company’s Power Boost function, a 222-meter diameter rotor, 108-meter long blades, and a 39,000 m2 swept area. Continue reading
Port of Angra dos Reis receives POSH Xanadu platform for maintenance/Splenda Offshore
May 18, 2020 The POSH Xanadu accommodation platform (flotel), which came to operate in support of Petrobras' production activities in the Campos Basin on several occasions, arrived on Friday (15) at the Port of Angra dos Reis to carry out repairs. The vessel's expected stay is approximately 60 days. According to information from the Superintendence... Continue Reading →
PETROBRAS CHANGES COMPERJ’S NAME TO GASLUB ITABORAÍ
May 15, 2020 At the press conference given by Petrobras management, the company's president, Roberto Castello Branco, made a point of stressing the change in the name of the Rio de Janeiro Petrochemical Complex (Comperj), which he refers to as a “graveyard of corruption”. In an attempt to erase the past of scandals involving the... Continue Reading →
DOF in Standstill Agreement with Lenders
Norwegian offshore support and subsea service vessel owners DOF and DOF Subsea have reached stand-still agreements with lenders representing to 93% secured debt of DOF companies. The agreement means all payments of principal and interest to the secured lenders are suspended until 30 June 2020 on certain customary terms and conditions. Continue reading
VIDEO: SBM Offshore’s Liza Unity FPSO Moves to Dry Dock
SBM Offshore, the Netherlands-based FPSO supplier, has shared a video of its Liza Unity FPSO Hull going into the dry dock in Singapore. The hull was ordered on speculation in 2017 as the first of what are now five hulls being built as part of SBM Offshore's Fast4Ward standardized-FPSO-hull program. ExxonMobil then came out as... Continue Reading →
