Offshore Energy News

 

Brazil Transfer-of-rights Area: What's Next?

Apr 11, 2019

Brazil's government and state-controlled oil company Petroleo Brasileiro SA have settled a long-running dispute about one of the world's most promising offshore oil areas, clearing the way for a blockbuster auction later this year.The national…

Brazil Government to Pay Petrobras $9 Bln

Apr 10, 2019

The Brazilian government reached a landmark deal to pay state-controlled oil company Petróleo Brasileiro SA $9.058 billion for revising a transfer-of-rights oil contract, Energy Minister Bento Albuquerque said on Tuesday.Albuquerque told reporters…

Oil Hits Five-month High

Apr 08, 2019

Oil prices rose to a five-month high on Monday, driven by expectations that global supplies would tighten due to fighting in Libya, OPEC-led cuts and U.S. sanctions against Iran and Venezuela.International benchmark Brent futures rose 74 cents…

Adjusting Strategy to Survive Oil Price Volatility

Apr 08, 2019

In times of oil price volatility, operators can take certain actions to reorient their businesses, generate sustainable value and reignite investor interest.According to the “New horizons: Strategic choices for upstream oil and gas companies…

Woodside Inks LNG Supply Deal with ENN

Apr 05, 2019

Australia's Woodside Petroleum WPL.AX has signed a Heads of Agreement (HOA) to supply liquefied natural gas (LNG) to China's ENN Group for 10 years from 2025, both companies said on Friday.Woodside, Australia's biggest listed oil and gas explorer…

Interest in US Offshore Acreage Growing

Apr 05, 2019

With stabilizing oil prices and lower breakeven points, interest in the US offshore is increasing.Randall Luthi, president of National Ocean Industries Association (NOIA), said the interest extends well beyond the existing regions open for oil…

Gazprom Neft, Novatek Mull Offshore Cooperation

Apr 05, 2019

Russia's Gazprom Neft, the oil arm of gas giant Gazprom, is in talks with gas producer Novatek about possible cooperation at its offshore deposits, Gazprom Neft CEO Alexander Dyukov said on Friday.'We're holding (talks with Novatek) concerning deposits that belong to us…

Lebanon Announces Offshore Blocks

Apr 05, 2019

Lebanon announced on Friday five offshore blocks to be included in its coming bidding round for energy exploration and production licences, including four along disputed maritime borders.Offshore energy development has been a central ambition for successive governments in cash-strapped Lebanon…

Expectations High off Equatorial Guinea

Apr 04, 2019

Equatorial Guinea, one of Africa's top natural gas producers, is struggling with the reality of dwindling oil and gas resources and the hurdle of attracting financing for the monetization of the current output from its offshore fields.The country…

Dunkirk Offshore Wind Tender Results Due in May

Apr 04, 2019

France's CRE energy market regulator will publish its recommendations for the 600 megawatt (MW) Dunkirk offshore wind farm tender in early May, and it expects the price to be reasonable, the head of the regulatory body said on Thursday.'We will get reasonable prices for the Dunkirk offshore tender…

Lebanon Approves Second Offshore Gas Round

Apr 04, 2019

Lebanon's government has approved a second offshore energy licensing round with bids to be submitted early next year, Energy Minister Nada Boustani said on Twitter on Thursday.Offshore energy development has been a central ambition for successive governments in cash-strapped Lebanon…

NPD Report on High North Offshore

Apr 03, 2019

Norwegian Petroleum Directorate (NPD), Norwegian government agency responsible for the regulation of the petroleum resources on the Norwegian continental shelf, has presented a report on petroleum activity in the High North at the Barents Sea conference…

E&P Sector Hits Record Free Cash Flow

Apr 03, 2019

The world’s publicly listed oil and gas companies are bringing in cash at the best rate ever witnessed even though oil prices have only partially recovered from the huge drop suffered in 2014 and 2015.According to a report by Rystad Energy, energy research and business intelligence company…

Trump, Saudi Arabia at Odds Over Oil Price

Apr 01, 2019

U.S. President Donald Trump and the Saudi government have closely aligned views on most issues but they disagree significantly on the desirable level for oil prices, which could become a source of volatility in 2019/2020.In keeping with his iconoclastic approach to governing…

Petrobras to Bid in Israeli Gas Tender

Apr 01, 2019

Israel's energy minister said on Sunday that Brazilian state-run oil firm Petrobras will take part in a tender to explore for oil and gas off Israel's shore, Reuters reports.'It was agreed that Petrobras ... will take part in a process of oil and gas exploration in Israel…

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