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Petrobras has just issued a tender to contract up to eight ultra-deepwater rigs for drilling operations offshore Brazil, according to Esgian. The consulting firm reports that the tender is divided into three lots. Lot 1 is for up to two high-spec rigs with drilling capabilities in water depths up to 3,000m (~10,000ft). Lot 2 is... Continue Reading →
(Reuters) - Mexican national oil company Pemex (PEMX.UL) on Monday reported a $6.17 billion first-quarter net profit, reversing a nearly $2 billion loss in the year-ago period, driven by foreign exchange gains, growing output and higher crude prices. Total financial debt at Pemex, one of the world's most indebted oil companies, edged down slightly to... Continue Reading →
(Reuters) - British oil major BP (BP.L) will continue betting on "lower carbon, more economical" offshore oil and gas exploration and production, a company executive said on Monday, warning that lack of investment could lead to global oil scarcity. Offshore operations allow better control of emissions, especially in the U.S. Gulf of Mexico, said Starlee Sykes, BP's... Continue Reading →
3R PETROLEUM ÓLEO E GÁS S.A. (“3R” or “Company”) (B3: RRRP3), in accordance with the provisions of CVM Resolution No. 44, informs its shareholders, investors and the market in general that, on the Annual and Extraordinary General Meeting (“Meeting”) held on April 29, 2022, the shareholders approved the election of Mr. Roberto Castello Branco and... Continue Reading →
Offshore installation services firm Subsea 7 said Friday it had won a substantial contract in West Africa. Subsea 7 defines a substantial contract as being between $150 to $300 million. In a brief statement in which it didn't reveal much, Subsea 7 said the contract was for the engineering, procurement, installation, and commissioning of flowlines... Continue Reading →
(Bloomberg) — Galp Energia SGPS SA is considering a sale of its upstream operations in Angola, as Portugal’s biggest oil company seeks to streamline its hydrocarbon portfolio, according to people familiar with the matter. The company is working with a financial adviser to gauge interest in its assets in the African country, the people said,... Continue Reading →
(Bloomberg) — After driving up prices for everything from steel pipes to frac sand to labor, inflation has finally ensnared the centerpiece of oilfield equipment: the drilling rig. Rig prices are spiking in the U.S. compared to the rest of the world, promising profits at multiyear high for oilfield contractors. Three of the world’s biggest operators told investors... Continue Reading →
TechnipFMC has signed a frame agreement with TotalEnergies for the delivery of subsea production systems offshore Angola. Under the agreement, TechnipFMC is set to deliver its Subsea 2.0 production systems for brownfield developments in Block 17 in Angola. “Subsea 2.0 products use standardized components that are pre-engineered and qualified, which allows equipment to be rapidly... Continue Reading →
(Reuters) - Wind turbine maker Vestas (VWS.CO) posted a deep first-quarter loss and slashed its 2022 margin forecast due to the war in Ukraine and writedowns in its offshore business, reflecting an industry wide struggle to turn a profit despite record demand. Focus on renewables has intensified as the West steps up efforts to wean itself off... Continue Reading →
(Reuters) Anglo-French oil company Perenco has shut its Cap Lopez oil terminal near Port Gentil in Gabon after a storage tank leaked more than 300,000 barrels of oil, it said in a statement. The oil, which amounts to more than Gabon's daily crude output, leaked into retention tanks on Thursday and did not spill into... Continue Reading →
