Ratings agency S&P Global on Friday downgraded Tullow Oil's long-term credit rating to 'B' from 'B+', days after the Africa-focused company's Chief Executive Officer stepped down and it scrapped its dividend.The London-listed company, which…
Mitsubishi Corporation (MC) and Nippon Yusen Kabushiki Kaisha (NYK) have purchased minority interests in the lease and operation of a newbuild floating production, storage and offloading unity (FPSO) from majority owner SBM Offshore. FPSO Sepetiba…
Aker BP has tapped Aker Solutions and Subsea 7 to deliver and install subsea infrastructure for the second phase of the Ærfugl development offshore Norway.The Aker BP operated Ærfugl development is a subsea project being developed in two phases…
SBM Offshore announced on Wednesday that it has firmed up contracts with Brazil’s Petróleo Brasileiro S.A. (Petrobras) for the 22.5-years lease and operation of a floating production, storage and offloading unit (FPSO) to be deployed at the Mero field in the Santos Basin offshore Brazil…
SBM Offshore's longtime chairman of the supervisory board Floris Deckers will retire following the company's April 2020 annual general meeting (AGM), the Dutch floating production, storage and offloading unit (FPSO) specialist announced.Roeland Baan…
SBM Offshore announced the closure of a supplemental non-recourse project loan facility of $250 million. The facility is related to the entity Sonasing Xikomba Ltd., which owns the floating production, storage and offloading unit (FPSO) N’Goma operating offshore Angola…
Brazilian state-run oil firm Petrobras is considering putting additional stakes in significant offshore oilfields up for sale, executives said on Wednesday, as the company continues to aggressively de-leverage.In a presentation, the executives said they may sell stakes in the Marlim field…
SBM Offshore announced it has signed contracts with Chinese shipyards for the construction of the company’s fourth and fifth hulls under its purchase program for Fast4Ward newbuild multipurpose floating production, storage and offloading unit (FPSO) hulls…
For a range of reasons not all related to costs, offshore operators have stated their preference for floating production with a recent slew of orders, a report by dedicated floating production watchers said this week.The world’s floating production…
Brazilian oil company Petroleo Brasileiro SA on Thursday trimmed its oil and gas production outlook for next year, weighing on its shares despite more ambitious long-term output forecasts in its new five-year strategic plan.Petrobras, as the state-run firm is known…
SBM Offshore announced on Friday it has completed the purchase of Constellation’s equity ownership in the lease and operating companies related to five Brazilian floating production, storage and offloading units (FPSO).The Netherlands based…
Maersk's offshore services arm has been awarded a contract to provide towing and mooring installation work for an unnamed floating production, storage and offloading unit (FPSO) in the North Sea.The work scope includes project management, engineering…
Brazil's state-owned oil firm Petroleo Brasileiro SA expects deep offshore areas to account for 88% of its exploration and production activities next year, up from 55% currently, an executive for the company said on Tuesday.The major shift to…
The Petrobras-operated P-68 floting production, storage and offloading unit (FPSO) has begun producing oil and natural gas from the Berbigão field, in the Santos Basin pre-salt, in the deep waters offshore Bazil.P-68 is the fourth unit to come into operation for Petrobras in 2019…
Dutch oil and gas services firm SBM Offshore on Thursday raised its full-year core profit and revenue outlook on better-than-expected performance in its turnkey division.For 2019, SBM Offshore now expects earnings before interest, tax, depreciation…