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(OE) Venezuela's national oil company PDVSA is reportedly preparing to resume production from the Corocoro offshore oil field. Reuters said Thursday, citing people familiar with the matter, that PDVSA would use the Cororoco oil to feed its refineries. The Corocoro oil field, in which the Italian oil firm Eni is a partner as part of... Continue Reading →
(OM) Brazil is expected to contribute around 23% (1.3 MMb/d) of global crude oil and condensate production in 2025 from offshore projects coming onstream between 2021 and 2025, according to GlobalData. The company’s report, ‘Global Offshore Upstream Development Outlook, 2021–2025’, reveals that 1.16 MMb/d of crude and condensate production in Brazil in 2025 is expected from... Continue Reading →
(New Straits Times Press) Yinson Holdings Bhd, through its wholly-owned Singapore-based subsidiary Yinson Production Offshore Pte Ltd (YPO), together with its project partner Sumitomo Corporation (SC), signed a US$670 million syndicated loan facility for the FPSO Anna Nery project, with ING, Natixis and Standard Chartered Bank as underwriting banks. The agreement was also signed by... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 06/11/2021, informs that the National Agency of Petroleum, Natural Gas, and Biofuels (ANP) today approved the Búzios Coparticipation Agreement, which will regulate the coexistence of the Transfer of Rights Agreement and the Production Sharing Contract of the Transfer of Rights Surplus for the... Continue Reading →
(PetroNoticias) CBO Group, a Brazilan maritime support company, today signed an Investment Agreement for the acquisition of the Brazilian company Finarge Apoio Marítimo, owner of a Brazilian-flagged AHTS (Anchor Handling Tug Supply) vessel; and four foreign-flagged AHTS vessels belonging to Finarge Armamento Genovese SRL, totaling the purchase of five vessels. The closing of the transaction,... Continue Reading →
Maritime and offshore classification society ABS said Thursday it had brought together leading companies in the Floating Production Storage and Offloading (FPSO) sector to address the safety challenges produced by a fleet where more than half of the FPSO vessels are over 30-years-old and a quarter are over 40-years-old. The working group, consisting of Chevron,... Continue Reading →
The risk of interference in fuel prices is a factor that has delayed the sale of Petrobras refineries, says Fernando Borges, executive director of Exploration and Production at the company, in an interview with epbr. -- The executive argues that it is necessary to preserve the competitiveness of the oil and gas industry, which includes... Continue Reading →
(Reuters) - U.S. oil major Exxon Mobil Corp (XOM.N), along with Chevron Corp (CVX.N), is seeking to bulk up in the burgeoning renewable fuels space by finding ways to make such products at existing facilities, sources familiar with the efforts said. The two largest U.S. oil companies want to produce sustainable fuels without ponying up billions of... Continue Reading →
Offshore engineering company Aquaterra Energy has completed the engineering design for a renewable-powered Sea Swift offshore platform for DeNovo Energy. The offshore platform is part of the development activity for the Zandolie field, located in the Gulf of Paria, off the west coast of Trinidad, and is scheduled to be installed in Q4 2021. The... Continue Reading →
(OE) The hull of the FPSO Prosperity, which will be Guyana's third offshore oil production unit once delivered, has arrived at the Keppel yard in Singapore, where it will be fitted with topside modules. SBM Offshore, which will deliver the FPSO to end client ExxonMobil, said that despite the various challenges posed by the ongoing global pandemic,... Continue Reading →
