Brazilian state-run oil company Petroleo Brasileiro SA plans to raise some $26.9 billion via asset sales and partnerships by 2023 while boosting investments on the front edge of an anticipated production boom in Brazil.Petrobras intends to make $84…
Brazil prosecutors alleged on Wednesday that trading giants Vitol, Trafigura and Glencore paid over $30 million in bribes to employees at state-owned oil company Petroleo Brasileiro SA in return for business.The alleged graft was the latest finding of the country's sweeping 'Car Wash' investigation…
Faroe Petroleum has struck a deal to swap Norwegian oil and gas assets with Equinor, in a move that could raise the price that hostile bidder DNO has to pay to secure the British energy company.While Faroe Petroleum's Chief Executive Graham…
Oil prices jumped by more than 5 percent on Monday after the United States and China agreed to a 90-day truce in a trade dispute, and ahead of a meeting this week of the producer club OPEC that is expected to cut supply.U.S. light crude oil rose $2…
The 400-MW Rampion offshore wind farm off the Sussex coast in the UK has been officially opened, said German energy company E.on SE. The offshore wind farm now generating enough green electricity for around 350,000 UK homes setting a new power record in the country…
Japan's largest trading company Mitsubishi Corporation (MC) announced the divestment of shares in Diamond Green Limited, with 30% to be transferred to The Kansai Electric Power Co., Inc (KEPCO) and 20% to Mitsubishi UFJ Lease & Finance Company Limited (MUL)…
Brazil's state-controlled oil company Petroleo Brasileiro SA is considering divesting up to $15 billion within the next few years, one person with knowledge of the matter said on Thursday.The total divestment goal has not been approved yet and…
UK based oil and gas development & production company Independent Oil and Gas Plc (IOG)cautioned that current oil price volatility and capital market conditions aren’t conducive to deliver its financing plan for the core Southern North Sea project before year-end…
Petrobras says it reached a USD370mln deal with Perenco to sell its operations in the Polo Nordeste and granted oil 3R Petroleum a 40-year concession to operate 34 oil fields in Bacia Potigar in a deal worth USD453mln.According to a press release…
The spending plans of oil majors BP and Equinor are unaffected by the more than 25 percent drop in oil prices since early October, their CEOs said on Wednesday.Oil and gas companies were boosted over the first nine months of the year by a recovery…
Norwegian offshore drilling rig firm Seadrill Ltd sees the contracting rigs market improving from 2019-20, as it reported its first quarterly results on Tuesday since emerging from Chapter 11 bankruptcy in July.The company, controlled by Norwegian-born billionaire John Fredriksen…
Malaysian state-owned energy firm Petroliam Nasional Berhad, or Petronas, on Tuesday said it will increase its dividend payout to the government after its third-quarter net profit jumped on higher revenue and oil prices.The new administration…
Norway's sovereign wealth fund, the world's largest, will no longer exclude Cairn Energy Plc and Kosmos Energy Ltd from its portfolio of investments, the Norwegian central bank said on Tuesday.The companies were excluded in 2016 based on advice from the fund's ethics watchdog…
The next year will be another challenging time for offshore drillers due to continuing supply overhang even though prices are starting to improve, the chief executive of rig firm Seadrill told Reuters on Tuesday.The Oslo- and New York-listed company…
Danish offshore wind farm developer Orsted A/S has completed the divestment of 50% of the Hornsea 1 Offshore Wind Farm to Global Infrastructure Partners (GIP).Three months ago, Ørsted signed an agreement to sell 50% of the 1,218MW offshore wind farm Hornsea 1 to Global Infrastructure Partners (GIP)…
This issue of Offshore Engineer is dedicated to Big Data and Digitalization
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