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A Stena Drilling-owned drillship, Stena IceMAX, has arrived in Mexico ahead of its contract with the Spanish oil company Repsol. In a social media update on Wednesday, Stena Drilling said that the Stena IceMax rig had arrived in Tampico, Mexico to finalise preparations for its upcoming contract with Repsol. Repsol awarded the contract to the Stena drillship... Continue Reading →
Oil major ExxonMobil is preparing to start up a gas compressor on SBM Offshore’s Liza Destiny FPSO, operating offshore Guyana, this week following a technical issue that started in January 2021. As previously reported, ExxonMobil started experiencing technical issues with the gas compressor on the SBM Offshore-owned FPSO Liza Destiny, which is working on the Liza field located offshore... Continue Reading →
(Reuters) - The merger of Chrysaor and Premier Oil is due to complete on Wednesday, creating Harbour Energy, the UK North Sea’s biggest oil and gas producer, which will replace Premier’s stock exchange listing from Thursday, Premier said. The reverse takeover of Chrysaor by Premier Oil, which traces its history back to the 1930s, ushers... Continue Reading →
(Bloomberg) --The head of oil trader Gunvor Group Ltd. expects prices to remain stuck where they are as draws of excess stocks slow amid rising coronavirus cases in Europe. “Oil prices are going to stay where they are - 65 ish - give or take a bit,” Torbjorn Tornqvist, the chairman and chief executive officer... Continue Reading →
(Reuters) Shortly before taking office late in 2018, President Andres Manuel Lopez Obrador vowed to boost crude oil production at Mexican giant Pemex by nearly half, following more than a dozen years of decline. The ambitious goal of increasing the state-run company's oil output from 1.8 million barrels per day (bpd) to 2.6 million bpd... Continue Reading →
Robots could replace hundreds of thousands of oil and gas jobs globally and reduce drilling labor costs by several billion dollars by 2030, if there is an industry push for such a transition, Rystad Energy has found. "Even when the Covid-19 downturn is finally past us, operators will have to continue exploring new avenues for... Continue Reading →
Dutch offshore survey services company Fugro has agreed to sell its Seabed Geosolutions subsidiary to PXGEO Seismic Services (PXGEO) to for USD 16 million (approximately EUR 14 million) in cash. The transaction is expected to be completed mid-2021. The divestment includes Seabed’s ocean bottom node (OBN) inventory, handling equipment, related technology and order backlog. In... Continue Reading →
Malaysia's largest oil and gas services provider Sapura Energy on Tuesday said it has refinanced 10.3 billion ringgit ($2.48 billion) of its debt for a period of seven years. The company said the refinancing includes an $820 million term loan facility to be offered by banks in U.S. dollars and Malaysian ringgit, and the issuance... Continue Reading →
(Reuters) - Energy trader Gunvor Group aims to cut its Scope 1 and 2 emissions by 40% in absolute terms by 2025, the company said on Tuesday, and has set up a new subsidiary to invest in non-hydrocarbon projects. The Geneva-based firm, which is among the top five global oil traders, aims to cut emissions... Continue Reading →
(Reuters) - Brazil’s Petrobras has fired a high-ranking manager after determining he had traded company shares in the days leading up to the firm releasing its financial results, the company said on Monday. Earlier on Monday, four sources familiar with the matter told Reuters that Claudio Costa, Petrobras’ executive manager for human resources, sold shares... Continue Reading →
