Dutch-based thermoplastic composite pipe (TCP) manufacturer Airborne Oil & Gas has changed its name to Strohm. The launch of the new brand comes as the organisation confirms its commitment to the oil and gas sector’s energy transition and accelerates its strategic growth into the renewables market. The company was the first in the world to... Continue Reading →
Consortium of 3R and DBO negotiates purchase of gas field from Petrobras, sources say
(Reuters) - A consortium formed by Brazil's 3R Petroleum and DBO Energy, linked to Norway, is in bilateral negotiations with Petrobras to acquire a group of offshore natural gas fields, according to two sources with direct knowledge of the subject. The Peroá Cluster, located on the coast of Espírito Santo, would be among the first... Continue Reading →
Noble Corporation scores rig extension deal with ExxonMobil
Offshore drilling contractor Noble Corporation has been awarded a long-term extension for the ultra-deepwater drillship Noble Tom Madden from ExxonMobil. Noble said on Thursday that it has been awarded approximately 6.5 years of additional contract term under the commercial enabling agreement (CEA) with ExxonMobil for work offshore Guyana. The Noble Tom Madden was previously contracted... Continue Reading →
OPEC Says Oil Demand to Plateau in Late 2030s
World oil demand will plateau in the late 2030s and could by then have begun to decline, OPEC said on Thursday, in a major shift for the producer group that reflects the lasting impact of the coronavirus crisis on the economy and consumer habits. The prediction from the Organization of the Petroleum Exporting Countries, made in its... Continue Reading →
Why We Should Leave Old Oil Rigs in the Sea – and Why We Don’t
Decommissioning the UK’s offshore oil and gas infrastructure will cost the taxpayer £24 billion, according to estimates from HMRC. So why can’t we leave man-made structures in the sea and thereby save the cost of removal and recycling? That would be a big win for the public purse. However, to do that, we would have to test... Continue Reading →
Chevron’s Market Value Surpasses Exxon’s for the First Time
Chevron’s market value leapfrogged that of Exxon Mobil for the first time on Wednesday during a week in which it closed a $4.1 billion, all-stock deal for Noble Energy, a smaller oil and gas producer. Chevron’s market cap ended the day around $142 billion, topping Exxon Mobil’s $141.65 billion market value at the end of... Continue Reading →
Yinson’s First FPSO for Brazil Arrives at Second Shipyard
Malaysia's Yinson said its floating production, storage and offloading unit (FPSO) Anna Nery sailed away from the Cosco Qidong shipyard in Jiangsu, China and has entered drydock at the Cosco Changxing shipyard in Shanghai, marking the next phase of the FPSO construction. FPSO Anna Nery, which is being built from a converted tanker Falcon, is Yinson’s first... Continue Reading →
ANP APPROVES EQUINOR AND FIVE MORE COMPANIES IN THE PERMANENT OFFER
National Petroleum Agency (ANP) made an announcement related to the Second Permanent Offer Cycle, which had six more companies registered. The new companies approved for the cycle, scheduled for December, are: ETEP Indústria Metalúrgica, CE Engenharia, Equinor Brasil Energia, Phoenix Oil & Natural Gas, Subtec Serviços and Tarmar Energia. With these new approvals, the second... Continue Reading →
Premier Oil, Chrysaor Merger a “Win-Win” Analyst Says
As London-listed Premier Oil and UK North Sea focused Chrysaor announced their proposed all-stock merger this week, creating one of the largest UK North Sea oil and gas producers, Global Data analysts think the deal is a "win-win." As reported Tuesday, Premier said it would merge with Chrysaor through a reverse takeover, with London listing... Continue Reading →
McDermott Announces Shipment of First MODEC FPSO Modules
PRNewswire/ -- McDermott International, Ltd today announced the first shipment of topside modules for a floating production storage and offloading (FPSO) unit for MODEC, Inc. (MODEC). The FPSO will be located in the Area 1 block, approximately six miles (10 kilometers) off the coast of Mexico in the shallow waters of the Campeche Bay at a water depth of... Continue Reading →
