As New Year 2020 unfolds, there are 21 floating production, storage and offloading units (FPSO) on order, and unlike a year ago, these — and not floating liquefied natural gas (FLNG) — are the unheralded story. Driven by a decent price for oil…
Engineering company Wood has secured a multimillion-dollar engineering design project for Chevron’s Anchor deepwater development in the Gulf of Mexico.The scope of the project included the preliminary, front end engineering and design (Pre-FEED)…
The coronavirus outbreak could cut oil industry investment this year by tens of billions of dollars and delay the delivery of offshore installations currently being built at Asian yards, Oslo-based consultancy Rystad Energy predicted on Friday…
Malaysian FPSO leasing company Yinson has informed that its FPSO Abigail-Joseph has set sail from Singapore to Nigeria, where it will be deployed at First E&P offshore oil fields.The FPSO, previously named Allan, has recently been upgraded by Keppel in Singapore…
UK-focused oil firm Independent Oil and Gas has said that it remains in talks with CalEnergy over the latter's participation in IOG's North Sea blocks.Namely, CalEnergy Resources, part of Berkshire Hathaway Energy, had an option to acquire a…
Italian energy group Eni on Friday pledged to shrink its greenhouse gas emissions by 80% in one of the industry's most ambitious clean-up drives, just weeks before a decision on its chief executive's future. In its new business plan, Eni said its oil and gas production - forecast to grow 3…
Amid a raft of February orders and near-orders for floating production storage and offloading vessels, or FPSOs, comes a new report suggesting those shipyards and engineers able to piece them together may soon be feeling the strain.'The strong pace of recent orders has a downside…
The upstream oil and gas sector’s biggest commercial fear from the Coronavirus (COVID-19) epidemic is its impact on demand and prices. Only a small proportion of global supply comes from the worst-affected regions.Manufacturing shutdowns and shipping bottlenecks are causing project delays…
Norwegian energy intelligence firm Rystad Energy has further slashed its expected oil price estimates for 2020, citing the effect of the coronavirus epidemic. What is more, Rystad says another downward revision might happen soon.'As China’s…
A consortium of Gasunie, Groningen Seaports, and Shell on Thursday announced plans to build a massive green hydrogen plant in Groningen.The project, dubbed Europe's largest green hydrogen project, and named the NortH2, envisions the production…
Oil prices fell over 2% on Thursday, plunging for a fifth day to their lowest since January 2019 as a rise in new coronavirus cases outside China fuelled fears of a pandemic that could slow the global economy and dent demand for crude.Brent crude was down $1…
Italian oil company Eni has upgraded its resource estimate for the Agogo field offshore Angola to over one billion barrels of oil in place. The field started production in January 2020.Eni said Wednesday it had successfully drilled Agogo-3,…
Iran will be able to produce more than 1 billion cubic meters (bcm) of gas per day once the final platform is installed at the South Pars offshore field, its oil minister was quoted as saying on Monday by the official IRIB news agency.South Pars…
Guyana's government on Wednesday launched a search for a company to market its share of crude produced at the offshore Liza well, where an Exxon Mobil Corp-led consortium began producing oil in December.The government is entitled to a share of the oil produced…
Singapore's offshore facilities builder Keppel has said it has delivered 'the world’s fastest brownfield Floating Production Storage and Offloading vessel (FPSO) modification and upgrading project.'Named FPSO Abigail-Joseph, the vessel was delivered to Malaysia's Yinson Holdings…