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U.S. offshore engineering and construction services player McDermott International has revealed that its CEO David Dickson has decided to resign. McDermott announced on Monday that Lee McIntire, an independent director on the McDermott board of directors, will assume the responsibilities of interim Chief Executive Officer effective immediately. David Dickson, Chief Executive Officer, has decided to resign. “Lee is a... Continue Reading →
The first steel cutting ceremony was last week held at BOMESC yard in China for the topside of an FPSO to be deployed at an Equinor-operated Bacalhau oil field off Brazil. The Bacalhau FPSO will be deployed for the development of the first phase of the Bacalhau field in Brazil's pre-salt Santos Basin. To be... Continue Reading →
(Reuters) Chinese authorities have ordered a unit of state-run PetroChina to stop trading off crude oil import quotas with local refineries as part of a crackdown on excessive fuel production, a move that could cut the country's crude imports by 3%, sources said. Beijing has stepped up scrutiny of crude oil quota use and imports... Continue Reading →
Oil jumped to a two-year high above $72 a barrel on Monday, extending this year's rally supported by recovering demand and OPEC+ supply curbs, before giving up the gains as investors took profits. Demand is rising in the United States and Europe as COVID-19 restrictions are loosened and, in another hopeful step for fuel use, India... Continue Reading →
(Reuters) Brazilian energy company Raizen, a joint venture between Royal Dutch Shell Plc (RDSa.L) and local group Cosan SA (CSAN3.SA), has agreed to acquire Shell's lubricant businesses in Brazil, including a blending plant and a terminal in the state of Rio de Janeiro. In a securities filing on Monday, Cosan said the agreement signifies "the acquisition of the... Continue Reading →
The Saipem Guyana Offshore Construction Facility, a new facility from Italy’s offshore contractor Saipem, has been inaugurated at the port of Georgetown in Guyana. Saipem and Guyana have been enjoying a fruitful interaction for the last four years, starting with the award of the ground-breaking Liza Phase 1 contract in 2017 by ExxonMobil. Since then, the company has... Continue Reading →
Offshore drilling contractor Transocean has agreed with Sembcorp Marine’s subsidiary, Jurong Shipyard Pte Ltd (JSPL), on the delayed delivery of two ultra-deepwater drillships. Transocean said on Monday that the agreement was made with the shipyard for the Deepwater Atlas and Deepwater Titan drillships. These two drillships were ordered by Transocean back in 2014 for a... Continue Reading →
U.S. oil major ExxonMobil is resuming operations at the Canje Block offshore Guyana with the drilling of the billion-barrel prospect Jabillo-1, using the Stena Carron Drillship. The news was shared by Westmount Energy, a company that owns a stake in one of ExxonMobil's Canje block partners. Westmount Energy said Monday it was "pleased to note... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it will start on August 15th the scheduled stoppage for 30 days of the Mexilhão platform and Route 1 pipeline, which outflows natural gas produced in Mexilhão and in other pre-salt and post-salt platforms in the Santos Basin. The intervention on Mexilhão platform and Route 1 gas pipeline... Continue Reading →
Oil extended gains on Friday, topping $72 a barrel for the first time since 2019, as OPEC+ supply discipline and recovering demand countered concerns about patchy COVID-19 vaccination rollout around the globe. The Organization of the Petroleum Exporting Countries and allies on Tuesday said they would stick to agreed supply restraints. A weekly supply report... Continue Reading →
