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Offshore drilling firm Seadrill Limited's unit Seadrill New Finance (the Issuer) has emerged from chapter 11 after successfully completing its pre-packaged restructuring pursuant to its chapter 11 plan of reorganization. The Plan was confirmed by the United States Bankruptcy Court for the Southern District of Texas on January 12, 2022. All conditions precedent to the... Continue Reading →
(epbr) The exploratory success in Guyana, where the activity is more advanced, indicates that there is potential for the discovery of large reserves in the formations shared with Suriname, and in Foz do Amazonas, Equatorial Margin of Brazil, where Petrobras intends to start the drilling campaign. this year. The blocks, contracted in 2013, are located... Continue Reading →
Morgan Stanley expects Brent crude oil prices to advance to $100 a barrel in the second half of this year, with the market heading for a simultaneous "triple deficit" of inventories, spare capacity, and investment. "The key oil products markets (gasoline, jet fuel, and gasoil/diesel) all show strong crack spreads, steep backwardation, and inventories that... Continue Reading →
(Reuters) - Schlumberger NV (SLB.N), the world's largest oilfield services company, reported a rise in fourth-quarter profit on Friday, as higher crude and natural gas prices drove up demand for its services and equipment. Oil prices surged about 50% last year and are currently trading at seven-year highs on the back of a vaccine-fueled demand recovery... Continue Reading →
There are no official comments from the Suriname authorities regarding Bolsonaro's comments. Brazil's President Jair Bolsonaro said on Thursday that Suriname will give Brazilian state-controlled oil company Petrobras priority in the exploration of oil and gas reserves recently discovered off-shore. Bolsonaro spoke by webcast to supporters in Brazil from Paramaribo, where he met on Thursday... Continue Reading →
In 2021, offshore accommodation provider Prosafe saw its vessel utilisation more than double when compared to the previous year and reach the highest rate since 2015. In an update on Friday, Prosafe reported that its fleet utilisation rate in 4Q of 2021 was 59.3 per cent compared to 25 per cent in 4Q 2020. The... Continue Reading →
(WO) Oilfield service providers have long played a critical role in the technical advancement of the upstream oil and gas industry. As the frontline provider of equipment and expertise, operators from the largest national oil companies to the smallest of independents count on these firms to drive technical innovation, improving performance in the field under... Continue Reading →
Fugro has secured a subsea survey and positioning contract with Maersk Supply Service to support the installation of an anchoring system for the floating production storage and offloading (FPSO) vessel Sepetiba at Petrobras’ deepwater Mero 2 project in Brazil. For the project, Fugro will use its QuickVision augmented reality camera to help guide the installation... Continue Reading →
(Reuters) - The transition to clean energy required to prevent temperatures from rising swiftly could shave 2% off global GDP by 2050 but is likely recoverable before the end of the century, a report by natural resources consultancy Wood Mackenzie said on Thursday. While investments in technologies like solar and wind farms, advanced batteries will... Continue Reading →
(Reuters) - The heads of state of Brazil, Guyana and Suriname this week will take the first steps toward forging an infrastructure that would better share the neighboring South American countries' energy and natural resources. Brazil's President Jair Bolsonaro is expected to arrive in Suriname on Thursday, and will travel on Friday with the head... Continue Reading →
