Brought to you by Quest Offshore & Southern Cone Consultants
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 →
The White House on Sunday said it was restricting travel from Brazil to the United States, two days after the South American nation became the world’s No. 2 hotspot for coronavirus cases. The travel ban was a blow to right-wing Brazilian President Jair Bolsonaro, who has followed the example of U.S. President Donald Trump in... 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 →
Malaysian state oil firm Petronas posted a 68% slump in first-quarter profit on Friday and said it would cut capital expenditure and operating expenses as it braces for a big hit to its full-year performance due to the coronavirus pandemic. Petronas pointed to "unprecedented" market conditions resulting from a combination of severe demand destruction from... Continue Reading →
May 21, 2020 In view of the pandemic situation in the country, the Brazilian Petroleum Institute (IBP) had no other alternative and postponed the Rio Oil & Gas 2020 fair, which was scheduled for September this year. The event has not yet been definitively canceled, as it happened with OTC Houston 2020 or other events... Continue Reading →
(Reuters) - Royal Dutch Shell has begun drilling the Saturn block in the Santos pre-salt basin, the company’s Brazil chief said on Thursday, adding that Brazil faces hurdles to remain attractive in a low-price environment. Brazil’s No. 2 oil producer after state-run Petroleo Brasileiro, Shell is the operator of block with a 45% stake, along... 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 →
The Covid-19 pandemic and the price crisis it has brought upon the oil and gas sector have hit the profitability of exploration and production (E&P) companies hard, energy intelligence firm Rystad Energy has said. Despite the recent relative oil price recovery, dozens of U.S. operators are still threatened by bankruptcies even at a WTI oil... 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 →
Offshore classification company ABS has launch what it says is industry’s most comprehensive support package for offshore operators in Brazil’s complex regulatory environment, with a detailed technical advisory and two new notations. The ABS Practical Considerations for Regulatory Compliance in Brazil provides detailed guidance on navigating the unique regulatory environment in Brazil, ABS said. Continue... Continue Reading →
