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The coronavirus outbreak could cut oil industry investment this year by tens of billions of dollars and delay the delivery of offshore installations currently being built at Asian yards, Oslo-based consultancy Rystad Energy predicted on Friday. "Our current assessment forecasts that COVID-19 could result in global exploration and production (E&P) investments falling by around $30... Continue Reading →
Italian oil and gas company Eni booked a loss in the fourth quarter of 2019 compared to a profit in the same period of 2018 despite record production driven by project ramp-ups and start-ups. According to its quarterly report on Friday, Eni’s adjusted operating profit was €1.8 billion in the fourth quarter, down by 40%... Continue Reading →
Subsea marine robotics company Ocean Infinity said it has been awarded a contract with ExxonMobil, for high-resolution autonomous underwater vehicle (AUV) geophysical and geotechnical data acquisition within the promising Stabroek block offshore Guyana. Ocean Infinity will simultaneously deploy a fleet of AUVs in water depths of between 70 meters and 2,150 meters over an area... Continue Reading →
February 27, 2020 -Petróleo Brasileiro S.A. - Petrobras reports that it has started the opportunity disclosure stage (teaser), referring to the sale of its entire 51% stake in Petrobras Gás S.A. (Gaspetro). The teaser, which includes key information about the opportunity, as well as the eligibility criteria for selection of potential participants, is available here:Teaser-Gaspetro-Ingles-completo... Continue Reading →
February 27, 2020 Petróleo Brasileiro S.A. - Petrobras reports that it has started the opportunity disclosure stage (teaser), referring to the sale of all its equity interest in Merluza and Lagosta fields, located in the shallow waters of Santos Basin. The teaser, which includes key information about the opportunity, as well as the eligibility criteria... Continue Reading →
FEB 27, 2020 News of the consortium that is exploring the southern block of Gato do Mato. The Ministry of Mines and Energy published this Thursday (27), in the Official Gazette, its endorsement for the sale, by Shell, of 30% of the area to the Colombian Ecopetrol. The transaction was announced in October last year.... Continue Reading →
FEB 27, 2020 Petrobrás announced this week that it has applied to the Brazilian Institute of the Environment (Ibama) to receive the Installation License for the Búzios 5 platform, which will be implemented in the Santos Basin pre-salt. Currently, according to Petrobrás' annual balance sheet, the FPSO has reached 10% of physical progress completed. The... Continue Reading →
FEB 27, 2020 The ghost of Lava Jato and an unburied corpse return to frighten one of the largest economic groups operating in the country, especially in the oil and gas sector: Techint-Tenaris. Targets of the Italian Justice, the brothers Gianfelice and Paolo Rocca, in addition to Roberto Bonatti, partners of San Faustin, holding of... Continue Reading →
The upstream oil and gas sector’s biggest commercial fear from the Coronavirus (COVID-19) epidemic is its impact on demand and prices. Only a small proportion of global supply comes from the worst-affected regions. Manufacturing shutdowns and shipping bottlenecks are causing project delays. Vessels and other large components being constructed in affected shipyards have the most... Continue Reading →
Amid a raft of February orders and near-orders for floating production storage and offloading vessels, or FPSOs, comes a new report suggesting those shipyards and engineers able to piece them together may soon be feeling the strain. "The strong pace of recent orders has a downside," says Jim McCaul, a leading authority on the FPSO... Continue Reading →
