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(Reuters) OPEC's Secretary-General Mohammad Barkindo has died, Mele Kyari, the chief executive of Nigerian National Petroleum Corp said on Wednesday. Barkindo, who was 63 years old, was due to step down at the end of this month after six years as OPEC's secretary-general. "We lost our esteemed Dr Muhammad Sanusi Barkindo," Kyari said on Twitter,... Continue Reading →
Oilfield services firm TechnipFMC has signed a letter of intent with the Norwegian oil company Equinor for an integrated Front End Engineering and Design (iFEED) study on its BM-C-33 project offshore Brazil. The study will finalize the technical solution for the proposed gas and condensate greenfield development in the pre-salt Campos Basin before Equinor makes its final investment decision (FID). The FEED study includes an option to proceed with a direct award to TechnipFMC for the integrated Engineering, Procurement, Construction and Installation (iEPCI) phase of the... Continue Reading →
(WO) Oil headed for its worst trading day in almost three months as recession fears iced markets, outweighing a fundamentally tight supply market. West Texas Intermediate crude futures dropped as much as 10%, the most since March 9. Risk off sentiment spread throughout markets on escalating concerns that a global economic slowdown will ultimately hobble... Continue Reading →
(Reuters) - The first Venezuelan crude cargoes sent to Europe in two years helped lift the OPEC nation's oil exports by 61% last month after a series of setbacks earlier in the year, tanker tracking data and documents from state-run PDVSA showed. Italy's Eni (ENI.MI) and Spain Repsol (REP.MC) started taking Venezuelan crude after receiving a green light from... Continue Reading →
(Reuters) - Investors dumped shares in Saipem (SPMI.MI) on Tuesday as well as the rights to buy into the Italian energy services group's 2 billion euro ($2 billion) cash call, heightening risks for banks that agreed to mop up any unsold shares. Saipem is tapping investors after a shock profit downgrade in January driven by deteriorating margins... Continue Reading →
(Reuters) - Wall Street analysts sharply increased their Exxon Mobil Corp(XOM.N)second-quarter profit estimates after a securities filing showed motor fuel sales rose $5 billion from the first quarter. Oil and gas prices soared in the first half, with crude selling for more than $105 per barrel and U.S. pump prices for gasoline surging to about... Continue Reading →
London-listed oilfield services giant Petrofac has won a contract with the oil firm Tullow Oil to provide operations services for Tullow's Jubilee Development offshore Ghana. Petrofac’s role in the Jubilee development in Ghana – one of the largest oil fields discovered offshore West Africa in 20 years – includes the provision of operations, maintenance, and... Continue Reading →
Houston-headquartered offshore energy services provider Helix Energy Solutions has completed the acquisition of Louisiana-based, privately-held Alliance group of companies, enabling it to expand its decommissioning presence in the Gulf of Mexico. Back in May 2022, Helix revealed that it had entered into a definitive agreement to acquire 100 per cent of the equity interests of the Alliance... Continue Reading →
Norwegian oil and gas company Equinor has awarded the drilling contractor Valaris a 540-day drilling contract for the Valaris DS-17 drillship. The offshore drilling contract is for operations in Brazil and is scheduled to start in 2023. Under the contract awarded by Equinor on behalf of the Bacalhau license partners, the Valaris DS-17 drillship will drill an... Continue Reading →
(Reuters) - The European Union is planning a deal with Namibia to support the country's nascent green hydrogen sector and boost its own imports of the fuel, EU and Namibian officials said, as the bloc works to reduce its dependence on Russian energy. Hydrogen has long been touted as a less emissions-heavy alternative to fossil... Continue Reading →
Brazil Energy Insight 