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Dutch contractor Heerema Marine Contractors will provide its crane vessels with clean energy by switching them from diesel generators to wind energy. By switching off the diesel generators, total emissions will be reduced by the equivalent of the annual emissions of approximately 5,000 diesel cars, Heerema said on Friday. Eneco will supply power from the... Continue Reading →
Norwegian offshore vessel owner Solstad Offshore (SOFF) needs more time to complete its restructuring and has therefore agreed an extension of suspension and deferrals of payments under its financing agreements. Late last year Solstad started discussions with its financial creditors and other stakeholders to improve the overall liquidity situation of the group and to create... Continue Reading →
Oil major Chevron saw its profit and revenues drop in the third quarter of the year when compared to the last year’s third quarter affected by lower oil and gas prices. Chevron on Friday reported earnings of $2.6 billion for third quarter 2019, compared with $4 billion in the third quarter of 2018. Included in... Continue Reading →
November 1, 2019 Petróleo Brasileiro S.A. - Petrobras, following on the press release issued on 08/08/2019, reports that its subsidiary Petrobras Biocombustíveis S.A. (“PBIO”) completed today the sale of its 50% stake in Belem Bioenergia Brasil (“BBB”) to Galp Bioenergy B.V. (“Galp”), which holds the other 50% stake in the company. BBB was established in... Continue Reading →
Rystad’s evaluation of offshore developments sanctioned since 2010 shows that international oil and gas E&P companies are struggling to make money from offshore investments made between 2010 and 2014 when oil prices were high. Rystad said on Wednesday that the sanctioning activity was record-high during the strong investment cycle from 2010 to 2014 when energy... Continue Reading →
Oil and gas behemoth ExxonMobil reported a 3Q net profit of ~$3.2 billion, a 49 percent fall vs ~$6,25 billion a year ago. The company cited lower prices, and higher growth-related expenses in the upstream division, lower margins in the Chemical and Downstream businesses as some of the reasons behind the drop in earnings. Brent... Continue Reading →
Brazilian investigators said on Friday a Greek-flagged ship carrying Venezuelan crude was the source of oil tarring thousands of kilometers of coastline over the past two months. While prosecutors and police did not name the vessel, a prosecutors’ document obtained by Reuters identified the ship as the Bouboulina, owned by Greece’s Delta Tankers Ltd. Police... Continue Reading →
Modec announces 3Q results. For details, please refer to the following link: https://www.modec.com/news/pdf/2019_3q_results_en.pdf
Oct 31, 2019 Petrobras plans to conclude in the first half of 2020 a benchmark project for hiring future FPSOs, seeking to reduce costs, deadlines and increase project quality, Rudimar Lorenzatto, Executive Director of Production & Technology Development said on Tuesday. The main change will be a reduction in the management of interfaces between the... Continue Reading →
The Falklands Islands government has extended the term of Argos Resources’ offshore license PL001 by 18 months, giving the company time to find a partner and drill an exploration well. Argos said on Thursday that the license, which was to expire in November, was extended to May 1, 2021. “The Company has a commitment to... Continue Reading →
