Crude Oil News

 

Nigeria: FPSO Workers Released after Kidnapping

Aug 07, 2020

Offshore workers kidnapped from an FPSO offshore Nigeria in an armed pirate attack in July, have been released, the owner of the floating production unit said Friday.In an incident that occurred on July 2, nine Nigerian crew members aboard the BW Offshore-owned Sendje Berge FPSO were kidnapped…

Petrobras to Mothball Offshore Platform to Cut Costs

Aug 07, 2020

Brazilian oil and gas company Petrobras has said it will mothball its Merluza platform (PMLZ-1) in shallow waters in the Santos Basin.'The platform’s production had already been interrupted since March 2020, with the abrupt drop of demand for natural gas…

Petrobras: Binding Phase Starts for Tartaruga Field Stake

Aug 07, 2020

Brazilian oil company Petrobras has kicked off the binding phase for the sale of its entire stake in the Tartaruga field, in the shallow waters of the Sergipe-Alagoas Basin, offshore Brazil.Petrobras had late in June 2020 announced the intention…

Solstad Offshore's Vessels Score Extensions with Total and Equinor

Aug 07, 2020

Norwegian offshore supply vessel owner Solstad offshore has secured several contract extensions with oil companies Total and Equinor in Brazil.France's Total has extended the contracts for the platform supply vessel Normand Swift and the AHTS vessel Far Sagaris until December 2020…

PGS' Shares Surge After Rival TGS' $600M Offer

Aug 07, 2020

Seismic surveyor TGS's unsolicited cash offer of $600 million for part of rival PGS sent its shares up as much as 67% in early trading on Friday.TGS said its offer, announced late on Thursday, for PGS's so-called multi-client library would significantly…

VIDEO: Tyra East, West Platforms Removed

Aug 07, 2020

Oil and gas company Noreco has said that the Tyra East and Tyra West integrated processing and accommodation platforms in the Danish North Sea have been safely removed, as part of the Tyra redevelopment project.Allseas’ Pioneering Spirit vessel has earlier this week removed the 14…

Royal IHC's Equipment for Brazil-Bound FPSO

Aug 07, 2020

Dutch company Royal IHC will supply a tandem mooring & offloading system and a riser pull-in system for Petrobras-bound Anna Nery (Marlim 2) FPSO.The FPSO, owned by Malaysia's Yinson, is currently being built in China. Once completed it will be moored around 150 kilometers off the Brazilian coast…

TGS Makes Surprise $600 Mln Offer for Part of Rival PGS

Aug 06, 2020

Seismic surveyor TGS, a supplier of geological data to the global oil industry, on Thursday said it had made an unsolicited cash offer of $600 million for a key part of rival PGS.If successful, the offer to buy PGS's so-called multi-client library…

Indonesia's Price Cap Obstructing Gas Projects

Aug 06, 2020

Indonesia's natural gas price cap is affecting the development of gas projects as contractors are being disincentivized, an official at oil and gas regulator SKK Migas said on Thursday.The energy ministry in April lowered the price of natural…

SBM Offshore Maintains 2020 Revenue Guidance, Will Cut 300 Jobs to Reduce Costs

Aug 06, 2020

Dutch FPSO leasing company SBM Offshore has raised its EBIDTA guidance and maintained the revenue guidance for 2020, after 'successfully navigating' a challenging period caused by the pandemic. Still, it is preparing for shorter oil price cycles…

Repsol, Vestigo Tap Alam Maritim for Subsea Services

Aug 06, 2020

Malaysian offshore services provider Alam Maritim has this week secured work with the Spanish oil firm Repsol, and Malaysia's marginal fields development company Vestigo.First, Alam Maritim on Tuesday said it had won a five-year deal with Repsol in Malaysia for the provision of subsea inspection…

Offshore Energy Industry Can Help UK Hit Net-Zero Emissions Target, O&G Regulator Says

Aug 06, 2020

“The UK Continental Shelf has the potential to make a deep and meaningful impact on the UK’s overall net-zero target and offshore energy integration can be the game-changer,' Andy Samuel, CEO of the UK's Oil and Gas Authority said Thursday.Samuel's…

Liebherr Bags First Offshore Crane Order in Azerbaijan

Aug 06, 2020

Crane specialist Liebherr will deliver what it describes as offshore cranes of the latest generation for Caspian Sea platforms, offshore Azerbaijan.Liebherr-MCCtec Rostock has received an order from Umid Babek Operating Company to deliver four…

Bahamas Petroleum, Columbus Energy Merger Gets Court Approval

Aug 06, 2020

The proposed all-stock merger between Bahamas Petroleum Company and Columbus Energy Resources was sanctioned by the court on Wednesday, paving way for the merger execution. Bahamas Petroleum Company, an oil firm with exploration assets in the Bahamas…

Inpex Books $1.3B Writedown on Australian LNG assets, Omitting Ichthys

Aug 06, 2020

Japan's biggest oil and gas company, Inpex Corp, booked charges of 140 billion yen ($1.33 billion) on its liquefied natural gas (LNG) projects in Australia, it said on Thursday, due to a slump in prices caused by the coronavirus pandemic.The…

Current News

Wintershall Dea: Dvalin Drilling Completed Ahead of First Gas

Wintershall Dea: Dvalin Drilling Completed Ahead of First Gas

Nigeria Convicts Three Men Under New Anti-piracy Law

Nigeria Convicts Three Men Under New Anti-piracy Law

Petrobras Selling Stake in Santos Basin Block

Petrobras Selling Stake in Santos Basin Block

Insurgents Seize Port Near Total's Mozambique LNG Project

Insurgents Seize Port Near Total's Mozambique LNG Project

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