Crude Oil News

 

Petrobras to Launch Tender for Brazil's Biggest Ever FPSO

Jul 08, 2020

Petrobras is preparing to launch a tender to build Brazil's largest-ever oil platform, according to two people with knowledge of the matter, as the state-controlled oil firm pushes ahead with ambitious plans to boost deepwater production.Petroleo Brasileiro SA, as the Rio de Janeiro-based producer is formally known, plans to launch the leasing tender for the floating platform, known as an FPSO, by the end of August…

Report: Total Secures $15.8B for Mozambique Gas Project

few minutes ago

French oil major Total has secured $15.8 billion in funding for its massive liquefied natural gas (LNG) project in northern Mozambique, according to South African lender FirstRand's local unit, FNB Mozambique. Total declined to comment.In a press release published on Wednesday…

Talos, Pemex Told to Seek Deal on Shared Offshore Oil Discovery

few minutes ago

Mexico's state oil company Pemex and a private consortium led by U.S.-based Talos Energy Inc have been instructed to come to an agreement detailing how they will jointly develop a large offshore oil find, the energy ministry said on Wednesday…

PetroVietnam to Invest in Renewables Amid Shrinking Oil Output

Jul 08, 2020

Vietnam's state oil firm PetroVietnam is seeking to venture into renewable energy sources like wind farms and floating solar panels, as domestic crude oil production has peaked at most of its offshore oil fields.The company, formally known as Vietnam Oil and Gas Group…

Fraser Well Management Launches Well Operatorship Division

Jul 08, 2020

UK-based well engineering firm Fraser Well Management (FWM) has launched a new well operatorship division.'The new product line marks an evolution for the established well engineering and management specialist and aims to provide end-to-end…

Morgan Stanley, Goldman Sachs to Advise China on Pipeline Asset Transfers

Jul 08, 2020

Top Chinese energy firms have mandated investment banks Morgan Stanley and Goldman Sachs to act as advisors for multi-billion dollar deals transferring key oil and gas pipeline assets into a national energy infrastructure giant, four sources said…

Congressman Pallone: Atlantic Offshore Drilling Ban in Appropriations Bill

Jul 08, 2020

U.S. Congressman Frank Pallone, Jr., the representative for New Jersey's 6th congressional district, announced that the House Democrats’ appropriations bill for the fiscal year 2021 would ban offshore drilling in the Atlantic Ocean. In May,…

Equinor Finds Gas and Condensate at Atlantis Well in North Sea

Jul 08, 2020

Norwegian oil and gas company Equinor has discovered gas and condensate in the exploration well 30/2-5 S Atlantis, in the North Sea, offshore Norway.The discovery was made about 17 kilometers south of the Kvitebjørn field in the North Sea and 160 kilometers northwest of Bergen…

Petrobras Starts Decommissioning Offshore Platform in Campos Basin

Jul 07, 2020

Brazilian oil company Petrobras has said it has started decommissioning works on the P-12 semi-submersible production platform in the Campos Basin, offshore Brazil.The 1983-built platform is located at the Linguado field, 83 km from Cabo de…

Angola to Comply with Output Cuts Fully, after Initial Resistance

Jul 07, 2020

Angola has agreed with OPEC to comply fully with a global pact on supply curbs and will compensate for previous overproduction by cutting more from July to September, two OPEC sources said.The Organization of the Petroleum Exporting Countries and allies led by Russia…

Oil Producers Will Fight for Market Share as Consumption Growth Slows

Jul 07, 2020

Petroleum consumption growth has been slowing for decades and the industry shows increasing signs of maturity, which will have profound implications for the business strategies of oil-producing companies and countries.Slower growth will intensify…

Eni to Book $4B Asset Writedown after Cutting Oil Price Outlook

Jul 07, 2020

Italian energy group Eni said it would write off around 3.5 billion euros ($4 billion) from the value of its assets after revising down its long-term outlook for oil and gas prices due to economic fallout from the COVID-19 crisis.In a statement on Monday…

Court OKs Extradition of Ex-Pemex CEO from Spain to Mexico

Jul 06, 2020

Spain's National Administrative Tribunal agreed on Monday to extradite Emilio Lozoya, former chief executive of oil company Petroleos Mexicanos, to Mexico, the court said in a statement.Lozoya, 45, is wanted in Mexico on charges including bribery…

On this Day in 1988: Offshore Industry's Deadliest Disaster

Jul 06, 2020

Thirty-two years ago, on July 6, 1988, one of the offshore oil and gas industry's worst-ever disasters struck  - the explosion of the Piper Alpha platform in the UK North Sea. To this day, the disaster is the worst ever in the industry by the numbers of lives-lost…

Byron Installs Gulf of Mexico Platform

Jul 06, 2020

Byron Energy has completed the installation of the SM71 G platform in the Gulf of Mexico.The company said Monday that the installation of jacket and decks comprising the platform had been completed. 'The Triton Hedron derrick barge has de-mobilized…

Current News

Report: Total Secures $15.8B for Mozambique Gas Project

Report: Total Secures $15.8B for Mozambique Gas Project

Talos, Pemex Told to Seek Deal on Shared Offshore Oil Discovery

Talos, Pemex Told to Seek Deal on Shared Offshore Oil Discovery

Oceaneering Lands W. Australia Order

Oceaneering Lands W. Australia Order

Japan to Develop Offshore Wind Farms at 30 Sites in 10 years

Japan to Develop Offshore Wind Farms at 30 Sites in 10 years

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