SBM Offshore said in a first quarter trading update that the hull for the ‘ONE GUYANA’ floating production, storage, and offloading (FPSO) vessel has already been delivered. ‘One Guyana’ will deliver biggest daily production for new oil nation It is a Fast4Ward® multi-purpose floater (MPF) hull, under SBM Offshore’s industry leading Fast4Ward® program. “Engineering and... Continue Reading →
(ON) As commercial discoveries continue to increase offshore Guyana, more projects will come online, generating an unprecedented inflow of revenue to the new oil producing South American country, which Norway-based Rystad Energy said could top US$130 billion. “If all discoveries were to be developed, you`re looking at, in the next 20 years, over $130 billion... Continue Reading →
(PN)French company TotalEnergies notified the National Petroleum Agency (ANP) that it found evidence of oil and gas in block C-M-541, in well 1-TOT-2-RJS, in a water depth of 3,000 meters, in the Campos Basin. The drilling of the well Marolo-1 began at the end of last year. The activity was carried out by the Valaris... Continue Reading →
(Reuters) - Brazil's antitrust watchdog CADE said on Friday that the sale of state-run oil company Petrobras' (PETR4.SA) Reman refinery to fuel distributor Atem was approved with no restrictions. Brazil's antitrust watchdog CADE has approved the sale of state-run oil company Petrobras' (PETR4.SA) Reman refinery to Atem, two sources familiar with the matter said on Thursday. Petroleo Brasileiro SA,... Continue Reading →
Namibia on Thursday launched a sovereign wealth fund, months after oil discoveries by TotalEnergies and Shell off its coast. President Hage Geingob said at the launch the Welwitschia Fund would get an initial injection of 262 million Namibian dollars ($16.15 million) and invest 2.5% of its portfolio locally to bridge the country's infrastructure financing gap.... Continue Reading →
Highlights Year-to-date Directional1 revenue of US$970 million, in line with expectationFull year 2022 Revenue and EBITDA guidance maintainedCash dividend of US$1 per ordinary share paid, 13% year-on-year increase and representing c. 7% yield2FPSO Liza Unity delivered on time and on budgetFPSO ONE GUYANA award confirmed, to be added to the backlog Financial Overview YTD Directional in... Continue Reading →
Africa is conservatively forecast to reach peak gas production at 470 billion cubic meters (Bcm) by the late 2030s, equivalent to about 75 per cent of the expected amount of gas produced by Russia in 2022, according to research by Rystad Energy. In early March, the European Union announced it aims to reduce its dependence on... Continue Reading →
Empire Offshore Wind, a joint venture between Equinor and BP, has awarded Edison Chouest Offshore (ECO) a long-term service operations vessel charter. The vessel will service the Empire Wind offshore wind farm project located 15-30 miles southeast of Long Island. Edison Chouest Offshore's plug-in hybrid service operations vessel (SOV) will be the first in the... Continue Reading →
Dutch dredging and marine services firm Boskalis raised its full-year core profit forecast on Thursday, pointing to a well-filled order book and favorable market outlook in the short and medium-term. Boskalis, which also offers services and contracting for the oil and gas sector and offshore wind industry, now expects its 2022 earnings before interest, tax,... Continue Reading →
(Reuters) - The world will not be left short of oil even with lower output from sanctions-hit Russia, the International Energy Agency (IEA) said on Thursday, in a U-turn after it predicted a possible "global supply shock" in March. The IEA, after warning on March 16 that 3 million barrels per day (bpd) could be... Continue Reading →
