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Brazilian oil company PetroRio said Monday it had formalized the acquisition of the West Capricorn (or just Capricorn) semi-submersible rig with the payment of US$ 4 million to offshore drilling contractor Aquadrill, previously known as Seadrill Partners. "The balance of the acquisition is due upon delivery of the rig or on August 05, 2022, whichever... Continue Reading →
(Reuters) Oil futures jumped on Monday, with Brent rising above $120 a barrel after Saudi Arabia hiked prices for its crude sales in July, signaling tight supply even after OPEC+ agreed to accelerate output increases over the next two months. Brent crude was up 91 cents, or 0.8%, at $120.63 a barrel at 0343 GMT... Continue Reading →
(Reuters) Impact Oil & Gas is considering selling its 20% stake in a large block in deep water off the coast of Namibia where TotalEnergies made a significant oil discovery this year, four industry sources told Reuters. Impact, which is privately owned and focused on exploration in Africa, has hired investment bank Jefferies to prepare a sale process for... Continue Reading →
(Reuters) - Barclays on Monday raised its Brent crude price forecasts by $11 per barrel for 2022 and $23 for 2023, citing a larger and sustained disruption in Russian supply following sanctions by the European Union. The British bank sees Brent prices averaging $111 this year and next, while it sees U.S. West Texas Intermediate... Continue Reading →
(Reuters) - Spanish construction firm Sacyr (SCYR.MC) said on Monday it sold its entire stake in Repsol (REP.MC) as well as options it held on shares of the Spanish oil company for an unspecified amount. Sacyr, which teamed up with state-owned oil company PEMEX more than a decade ago in a bid to control Repsol, sold its shares on... Continue Reading →
(OE) The Timken Company said Monday it was designing and supplying main shaft bearings for GE Renewable Energy's Haliade-X, the world's most powerful offshore wind turbine. Each Haliade-X turbine will have a capacity of up to 14 MW and be able to generate up to 74 GWh of clean energy a year. Initial Haliade-X installations are... Continue Reading →
DeepOcean has reported a revenue of $499.4 million for 2021, an increase of 42% from the $352.5 million in 2020, said to be driven by structural changes that the company undertook to strengthen and drive its diversification strategy. DeepOcean secured an order intake of $542 million in 2021 and had an accounting order backlog of... Continue Reading →
Offshore accommodation provider Floatel International has secured a contract extension with Equinor for a unit operating offshore Brazil, which will later on move to the Gulf of Mexico to work for Chevron. Floatel informed last Friday that Equinor had extended the contract for Floatel Victory to provide Maintenance and Safety Unit (MSU) services alongside Peregrino floating production storage and... Continue Reading →
(OE) VAALCO Energy on Monday announced the successful drilling of the South Tchibala 1HB-ST well, offshore Gabon. The well was drilled from the Avouma platform in the Etame field, offshore Gabon. The company said it had discovered significant columns of multiple hydrocarbon-bearing sands in the Dentale, and it was completing the Dentale D1 sand... Continue Reading →
(Reuters) - Italian oil company Eni SpA and Spain's Repsol SA could begin shipping Venezuelan oil to Europe as soon as next month to make up for Russian crude, five people familiar with the matter said, resuming oil-for-debt swaps halted two years ago when Washington stepped up sanctions on Venezuela. The volume of oil Eni... Continue Reading →
