Petróleo Brasileiro S.A. – Petrobras informs that the Eligibility Committee (CELEG) resumed today the meeting, started on 07/07/2022, to finalize the analyses of the candidates for the Board of Directors nominated by the controlling shareholder: Mr. Gileno Gurjão Barreto (also nominated as Chairman of the Board); Mr. Edison Antônio Costa Britto Garcia; Mrs. Iêda Aparecida... Continue Reading →
MDL and DOF Subsea return to Angola for SURF project
Back-deck equipment specialist Maritime Developments MDL has supported engineering and marine services company DOF Subsea with SURF work packages in Angola. The MDL spread consisted of a second-generation reel drive system, four-track 85Te pipelay tensioner and an overboarding chute. It was mobilised onboard the offshore construction vessel Skandi Seven to perform SURF installation scopes of work.... Continue Reading →
Saipem’s board endorses first sustainability plan with “challenging objectives”
(OEM) The board of directors of Italy’s Saipem has approved the offshore drilling contractor’s first sustainability plan, which represents an integrated strategy that combines business and financial objectives with environmental, social and governance (ESG) criteria, enabling the firm to reach net-zero by 2050. Saipem revealed on Tuesday that its board of directors, chaired by Chairman Silvia... Continue Reading →
Aker Solutions Raises 2022 Revenue Outlook
(Reuters) Norwegian oil services firm Aker Solutions raised its 2022 revenue outlook as it sees increased activity from oil and gas companies, with tender activity heading for a new record, it said on Thursday. The company now expects its 2022 revenues to rise by around 30% year-on-year, compared with the rise of more than 20%... Continue Reading →
Venezuela’s refining arm Citgo on the verge of yet another power shake-up
(Reuters) - A new battle for control of Citgo Petroleum, the eighth largest U.S. oil refiner and Venezuela's foreign crown jewel, could soon be unleashed under a proposed management shake-up by the South American country's opposition lawmakers. The revamping would come despite the company posting strong profits after two years of losses and could lead... Continue Reading →
Equinor’s Hywind Tampen to Become World’s Largest Floating Wind Farm in 2022, Despite Issues with 4 Turbines
Equinor's Hywind Tampen floating wind farm in Norway will become operational this year, becoming the world's largest floating wind farm, however, it will not be as big as planned, at least not in 2022, due to steel quality issues found in four of 11 turbines. Namely, as previously reported, Equinor is developing the 11 turbine... Continue Reading →
Banks to subscribe for at least 400 million euros of Saipem new shares
(Reuters) - A pool of banks will have to buy shares worth at least 400 million euros ($401 million) in Saipem (SPMI.MI) after a cash call by the Italian energy services firm failed to raise the 2 billion euro target it was seeking from investors. Saipem SpA said on Monday it had raised only around 1.4 billion... Continue Reading →
WoodMac: Seven giant oil players have what it takes to keep up output for 40-60 years
(OEM) With two-thirds of global resources in their hands, seven National oil companies (NOCs) own the lion’s share of remaining discovered oil and gas resources, says Wood Mackenzie, an energy intelligence group. Following Russia’s attack on Ukraine, the outlook for the supply, demand, and price of hydrocarbons is constantly shifting, leading to a rewriting of energy trade... Continue Reading →
Two oil & gas firms close long-anticipated deal for sale of stake in field off Nigeria
(OEM) London-based and Oslo-listed oil and gas company Panoro Energy has completed the sale of its interest in the Offshore Mining Lease no. 113 (OML 113) offshore Nigeria to Oslo-listed PetroNor. Back in October 2019, the two oil and gas players entered into a sale agreement, enabling PetroNor to buy out Panoro’s interest in OML 113, including... Continue Reading →
Tullow Expects Cashflow of $200M at Oil Price of $95/bbl
Africa-focused Tullow Oil said on Wednesday it expected to make $200 million in free cashflow this year at an average oil price of $95 a barrel, adding that it sees no cashflow in the first half after an arbitration payment and an acquisition. Tullow said a shareholder prospectus for its planned merger with Capricorn Energy... Continue Reading →
