Brazilian state-run oil company Petroleo Brasileiro SA (Petrobras) said on Thursday that its board had approved the nominations of Eduardo Bacellar Leal Ferreira to be its chairman and João Cox as a board member.It also signed off on the nominations…
Tanzania could be preparing for yet another licensing round of its offshore oil and gas blocks in the second quarter of 2019, more than four years after the last auction did not yield the anticipated results on the back of the country's complex regulatory regime…
Offshore installation contractor Jan De Nul Group has selected the Tekmar cable protection system (CPS) TekLink Mechanical Latch for the Northwester 2 offshore wind farm 50 km off the coast of Ostend, Belgium in the North Sea.Tekmar said it…
The massive Libra pre-salt area, which was originally believed to contain at least volumes of between 8 billion and 12 billion boe, started production at the end of 2017. Located within the Santos Basin, over 200 kilometers off the coast of Rio de Janeiro…
Brazilian independent PetroRio announced Wednesday that it has acquired Chevron’s stake in the deepwater Frade field in the Campos Basin offshore Brazil for an undisclosed sum.The share purchase agreement sees the U.S. supermajor sell its 51…
Lundin Petroleum raised its output guidance on Wednesday and said it would drill a record number of exploration wells in 2019.The company now expects output of over 150,000 barrels of oil equivalents per day (boepd) in 2020 from a previous forecast of more than 130…
Danish offshore wind developer Orsted reported full-year profit above expectations on Wednesday and said it would consider restarting its activities in Taiwan following a new proposal from the local government.Orsted earlier this month put two…
When at plateau production, Prelude FLNG — the world’s largest floating producer of liquefied natural gas, or LNG — will fill one shipborne cargo every week. As production ramps up from test volumes, there’s the dawning realization of a dramatic shift in LNG markets…
The Asia-Pacific offshore oil and gas industry has begun to emerge from the recent global downturn, but remains among the regions where the road to recovery has been particularly slow.“Australia has seen positive news on new liquefied natural…
Oil and gas producer Hess Corp's fourth-quarter production beat Wall Street estimates on Wednesday, driven by higher output from the Bakken shale region and the Gulf of Mexico.Total production for the quarter ended Dec. 31, excluding its Libyan operations…
The Norwegian Petroleum Directorate (NPD) has granted Lundin Norway AS a drilling permit for a wildcat well in the North Sea.The NPD said on Tuesday that the wildcat well, designated 16/1-31 S, would be drilled from the Leiv Eiriksson drilling…
Total is launching its biggest exploration campaign for years in 2019 as part of a turnaround plan that is ditching the company's focus on risky long-shots in favor of areas known to contain commercial levels of oil or gas.The French major aims to drill 23 wells this year…
Keeping operations humming on an oil production spar with an integrated drilling rig requires a lot of planning. The inspections, repairs and maintenance plan for the deepwater Mad Dog facility adheres to BP’s risk-based approach but is tailored…
After heavy spending on developing LNG export capacity Oceania companies focus on expansion and backfillAustralia is well positioned to maintain its role as an important supplier of the world’s energy needs, particularly in the Asia-Pacific region…
Mexico's finance ministry said on Monday that it will implement measures to strengthen the finances and boost the production of state oil firm Pemex, specifically by increasing the limit on deductions for costs related to extraction and exploration…