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Liza Unity FPSO, set to become Guyana's second offshore production unit, has been completed in Singapore and has set sail towards Guyana. Keppel Shipyard, responsible for the construction and integration of the topside modules with the China-built FPSO hull said Thursday it had delivered the FPSO to SBM Offshore. Once in Guyana, the FPSO will... Continue Reading →
U.S. oil firm ExxonMobil has made another oil discovery offshore Guyana, this time at Pinktail prospect in the prolific Stabroek Block. The Pinktail well, ExxonMobil said, encountered 220 feet (67 meters) of net pay in high-quality hydrocarbon-bearing sandstone reservoirs. Pinktail is located approximately 21.7 miles (35 kilometers) southeast of the Liza Phase 1 development, which... Continue Reading →
Hurricane Ida's damage to U.S. offshore energy production makes it one of the most costly since back-to-back storms in 2005 cut output for months, according to the latest data and historical records. Ida's 150 mile-per-hour (240 kph) winds cut most offshore oil and gas production for more than a week and damaged platforms and onshore... Continue Reading →
Royal Dutch Shell Plc is weighing whether to mandate COVID-19 vaccines for employees and firing those who refuse to comply, the Financial Times reported on Wednesday. The oil major outlined a case for "selective vaccine mandates" initially at offshore and other remote locations, where staff live and work, and where World Health Organization-approved vaccines were available,... Continue Reading →
Remotely operated vehicles specialist ROVOP has appointed Daniel Wheeler as its new President for the Americas, to lead the company in Houston as it prepares for its next phase of growth in the region both in oil and gas and in the emerging offshore wind sector there. "The growth comes on the back of a... Continue Reading →
(Reuters) - Mexico's government on Wednesday proposed sharply reducing the tax burden for state oil firm Petroleos Mexicanos and forecast economic growth of 4.1% for 2022, as Latin America's second largest economy continues to recover from a COVID-19-induced slump. The finance ministry's 2022 draft budget, which it presented to Congress earlier in the day, laid... Continue Reading →
(Bloomberg) --Neptune Energy Group Ltd., the private equity-backed explorer, is considering options including a merger with Harbour Energy Plc that could create one of Europe’s largest independent oil and gas companies, people familiar with the matter said. Neptune, part-owned by Carlyle Group Inc. and CVC Capital Partners, is working with an adviser as it studies... Continue Reading →
(Reuters) - Oilfield service firms Schlumberger (SLB.N) and Baker Hughes (BKR.N) are counting on newer energy transition businesses like carbon capture and hydrogen fuel for growth, and expect these clean energy units to rival some of their more traditional units by the next decade, executives said on Wednesday. Schlumberger estimates that global investments for industries moving away from fossil... Continue Reading →
(Reuters) - Schlumberger NV (SLB.N), the world's leading oilfield service provider, expects to materially grow its margins and cashflow over the medium and short term horizons, Chief Executive Officer Olivier Le Peuch said on Wednesday. The company expects to reach adjusted EBIDTA margins of 25%, or a 500 basis point expansion from pre-pandemic levels, over that... Continue Reading →
Occidental Petroleum Corp on Wednesday said in a securities filing seven of its 10 offshore oil production platforms in the U.S. Gulf of Mexico remain offline since Hurricane Ida. Hurricane Ida tore through the Gulf of Mexico late last month knocking out some 80% of the region's offshore oil and gas production. Restarts have been... Continue Reading →
