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(WO) Oil crashed more than 10% in both London and New York as a new coronavirus strain sparked fears that renewed lockdowns will threaten the global recovery in demand. Both benchmarks tumbled on Friday with the emergence of the new variant representing the biggest threat to the recovery in oil consumption in several months, with... Continue Reading →
Petrobras' 2022-2026 strategic plan foresees 15 new FPSOs in six fields between 2022 and 2026. The director of production development, João Henrique Rittershaussen, highlighted that Petrobras will have under its operation approximately 50% of the FPSOs that will come into operation in the world in the next five years. Of the 15 planned units, 12... Continue Reading →
The auction of surplus volumes from the transfer of rights in the areas of Sépia and Atapu, in the Santos Basin pre-salt, represents, for the oil companies, immediate access to projects in the operational phase and may, depending on the results, attract two new producers. Among the eleven companies qualified for the round, scheduled for... Continue Reading →
(PetroleoHoje) Petrobras will invest US$ 5.5 billion in the Exploration segment in the five-year period 2022-2026, maintaining its focus on the Southeastern basins and on the Equatorial Margin. The figure represents only 10% of the total amount allocated to the E&P area of US$ 57.3 billion. Petrobras plans to drill 70 exploratory wells over the... Continue Reading →
Offshore oil and gas exploration projects are expected to double the growth of well intervention market, as operators seek to increase production from existing fields amid skyrocketing oil and gas demand. Fact.MR expects the global well intervention market to reach $7.1 billion in 2021 with an increase of 7 per cent CAGR between 2021 and 2031, thus, surpassing $14... Continue Reading →
Sweden-based engineering firm Trelleborg has won a contract to supply an integrated structural elastomeric bearing system for MISC Offshore's FPSO project in South America. Trelleborg said the FPSO would have a processing capacity of 180,000 barrels of oil and 12 million cubic meters of gas per day. These specs correspond to the FPSO MISC is building... Continue Reading →
After a failed sale attempt, Petrobras no longer intends to divest of its refining asset in Pernambuco. The Abreu e Lima Refinery (Rnest) was included in the company's Strategic investment plan for 2022-2026. According to a statement from the company, more than R$ 5 billion (US$ 1 billion) will be invested in the completion of... Continue Reading →
Brent slid nearly 4% to below $80 a barrel on Friday as a new COVID-19 variant spooked investors, adding to concerns that a global supply surplus could swell in the first quarter following the release of crude reserves by the United States and others. Oil fell in tandem with other financial markets on fears that... Continue Reading →
Singapore's Keppel Offshore & Marine has won contracts for the conversion of a Floating Storage and Regasification Unit (FSRU) and the integration of a Floating Production Storage and Offloading vessel (FPSO). For the first project, Keppel Shipyard signed a Limited Notice to Proceed (LNTP) with what it said was a global provider of LNG shipping... Continue Reading →
Offshore drilling company Seadrill has won two contracts with Brazil's Petrobras for the West Carina and West Tellus drillship. The two rigs will work on the Búzios field offshore Brazil. Both contracts have been signed on a 3-year fixed-term basis, with an expected start in September 2022. The total contract value for the two contracts... Continue Reading →
