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(Reuters) - Oil prices steadied on Friday near a two-month high of $77.50 a barrel and were headed for a third straight week of gains, supported by global output disruptions and inventory draws. The rally was slightly dampened by China's first public sale of state crude reserves. Brent crude was up 222 cents, or 0.28%,... Continue Reading →
(Reuters) - Brazil's central bank on Wednesday raised interest rates by 100 basis points and flagged a third straight hike of that size in October as it battles surging inflation with the world's most aggressive monetary tightening. The bank's rate-setting committee, known as Copom, decided unanimously to raise its benchmark rate to 6.25% as forecast... Continue Reading →
SBM Offshore is pleased to announce that it has secured a US$635 million bridge loan facility for the financing of the construction of FPSO Almirante Tamandaré. The facility was secured by the special purpose company which will own FPSO Almirante Tamandaré. Currently, SBM Offshore is the sole owner of this special purpose company. Discussions around... Continue Reading →
The Nigerian government expects the country to produce 1.88 million barrels per day of crude oil in 2022 and will use a benchmark oil price of $57 per barrel for its budget planning, according to a document approved by the Senate on Wednesday. The Medium-Term Expenditure Framework (MTEF), a crucial part of the annual budget... Continue Reading →
Vessel utilization in the offshore oil and gas seismic data acquisition sector has reached pre-pandemic levels in the third quarter of 2021, Rystad Energy has found. Rystad, a Norway-based energy industry intelligence firm, said that, after several devastating quarters caused by the pandemic, the seismic fleet’s hibernation is now over, with around 68% of the fleet... Continue Reading →
BW Offshore may acquire another asset in Petrobras' divestment program. Industry sources confirmed to PetroleoHoje that the Norwegian oil company was recently selected as the preferred bider for the Golfinho cluster, a deep-water package in the Espírito Santo Basin. Although BW Offshore does not comment on the subject, the company's proposal would have been around... Continue Reading →
Harbour Energy, a London-listed oil firm created through a merger between Chrysaor and Premier Oil, has decided to exit the Sea Lion oil field development in the Falkland Islands. The company has a 60 percent stake in the oil field, with Rockhopper Exploration holding the remaining 40 percent stake. The field was discovered in 2010 by Rockhopper,... Continue Reading →
(Reuters) - U.S. oil majors Exxon Mobil Corp (XOM.N) and Chevron Corp (CVX.N) have failed to meet a core transparency standard set by the Extractive Industries Transparency Initiative, a global anti-corruption body on which the companies have board seats, EITI said on Wednesday. Exxon and Chevron have declined to publicly disclose taxes and other payments they have made to... Continue Reading →
(PetroNoticias) Petrobras hopes to make progress soon with preparations for the start of production of the FPSO P-71 in the Itapu field, in the pre-salt of the Santos Basin. The state-owned company recently asked the Brazilian Institute for the Environment (Ibama) for a license to operate the platform vessel – which should start operating in... Continue Reading →
The construction of the world’s largest floating wind farm Kincardine, in the UK, is now complete, marking the start of the long-term Power Purchase Agreement (PPA) signed in 2018 between Kincardine Offshore Windfarm Ltd. (KOWL’s) joint venture and Statkraft. The floating wind farm features Principle Power-developed Windfloat semi-submersible foundations on which five MHI Vestas V164-9.5... Continue Reading →
