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Energy industry expert and assurance firm DNV has partnered up with 25 industry giants in a Joint Industry Project (JIP) aimed at enhancing technology development for floating offshore wind substations, with particular attention to how export cables and topside equipment tolerate movements of a floating substructure. The objective is to align industry best-practice allowing for... Continue Reading →
(Reuters) Suriname's state oil company Staatsolie plans to hold an auction for deepwater offshore blocks at the end of 2022 and another for shallow water blocks in mid-2023, the company's managing director told Reuters. The South American nation is a small onshore crude producer that is hoping to begin offshore output but has yet to... Continue Reading →
(Reuters) - Venezuela's state-run PDVSA has ordered over a hundred stations to begin selling diesel in dollars, reducing a subsidy that had allowed truckers and public transportation drivers to fill their tanks almost for free, according to documents and sources. Venezuela had set a diesel retail price of $0.50 per liter in late 2021 for... Continue Reading →
Petro Rio S.A. (“Company” or “PRIO”) (B3: PRIO3), in addition to the Material Fact of April 28, 2022, informs shareholders and the market in general that it has received the waiver of the preemptive rights from Repsol Sinopec Brasil (“RSB”) in the Albacora Leste Field (“Albacora Leste” or “Field"). The closing of the deal is... Continue Reading →
(Reuters) - Oil prices climbed above $120 a barrel on Monday, hitting their highest in more than two months, as traders waited to see whether a European Union meeting would reach an agreement on banning Russian oil imports. The Brent crude futures contract for July, which will expire on Tuesday, was up 59 cents, or... Continue Reading →
(Reuters) - Russia's invasion of Ukraine has reconfigured the global oil market, with African suppliers stepping in to meet European demand and Moscow, stung by Western sanctions, increasingly tapping risky ship-to-ship transfers to get its crude to Asia. The reroutings mark the biggest supply-side shakeup of the global oil trade since the U.S. shale revolution... Continue Reading →
Colombian energy producer Ecopetrol ECO.CN aims to boost its oil and gas output by just over 40% to around 1 million barrels of oil equivalent per day (boepd) in 2030 and plans to start a pilot carbon capture storage (CCS) project, a senior company executive said. The projects are part of Ecopetrol's plan to ramp... Continue Reading →
Italian energy services company Saipem, Norwegian subsea services firm Havfram, and HVAS Invest Kappa AS (a company controlled by HitecVision) have signed a non-binding agreement to evaluate a potential collaboration in the development and construction of offshore wind farms. "The parties share the common objective to create a wider value proposition by integrating a range... Continue Reading →
DOF-owned Norskan Offshore and DOF Subsea Serviços Brasil have won service contracts with Petrobras for the anchor handling tug supply (AHTS) vessel Skandi Iguazu, including a remotely operated vehicle (ROV). The contracts are set to commence in the fourth quarter of this year and have a duration of three years, plus options for two-year extensions.... Continue Reading →
E&P company BW Energy is still on track for the first oil from its Hibiscus/Ruche development off Gabon later this year despite delays caused by Covid-19 and the war in Ukraine. However, there is still an increased risk of delays due to price inflation on services and materials. BW Energy is currently executing the Hibiscus/Ruche development project,... Continue Reading →
