Mexican state oil company Pemex expects to post a rare annual profit this year, with two consecutive quarters already in the black and a boost to crude output from new fields, Chief Executive Octavio Romero told Reuters.If achieved, it will be Pemex's first annual profit in more than a decade…
Petrobras has approved a record dividend payout of 87.8 billion reais ($17 billion), Brazil's state-run oil company said on Thursday, a move that will boost the government's coffers heading into a tense election.In a securities filing, Petroleo Brasileiro SA…
Singaporean conglomerate Keppel Corp on Thursday reported a first-half profit that rose 66%, helped by higher earnings across most of its main businesses and a rebound at its offshore & marine (O&M) unit.Keppel, which traces its roots to a small ship repair yard corporatized in 1968…
Cenovus Energy Inc on Thursday reported a near 11-fold surge in second-quarter profit, helped by its purchase of rival Husky and rising energy prices after the Russian invasion of Ukraine.Oil prices have scaled multi-year records this year as…
Tanker shipping company AET on Thursday named its newest vessel, Eagle Crato, the final of three Suezmax Dynamic Positioning (DP2) shuttle tankers purpose-built for long-term charter to Petróleo Brasileiro S.A. – Petrobras, based on the agreement signed in February 2020…
The shipping and maritime logistics arm of Abu Dhabi National Oil Company (ADNOC) is acquiring Zakher Marine International (ZMI), adding 24 jack-up barges and 38 offshore support vessels to its fleet. ZMI is an Abu Dhabi-based owner and operator of offshore support vessels…
BP has reserved Yinson's Nganhurra floating, production storage and offloading (FPSO) vessel for use on its proposed 10-well subsea Palas, Astrea and Juno oil fields (PAJ Project), on Block 31, offshore Angola.Under an agreement signed between BP and Yinson…
OneSubsea and its alliance partner, Subsea 7 have won an engineering, procurement, construction and installation (EPCI) contract on Kosmos Energy's Odd Job field in the US Gulf of Mexico.Through the EPCI contract with Kosmos, OneSubsea, the subsea technologies…
Engineering firm Worley has been awarded a framework agreement by Flotation Energy for pre-feasibility study services to Flotation Energy’s Seadragon project, a 1,500 MW offshore wind farm off the coast of Gippsland, Victoria, Australia.Seadragon…
Eni, with its partners in the New Gas Consortium, has taken a final investment decision in Angola's first non-associated gas development project, the development of the Quiluma and Maboqueiro (Q&M) fields.The project includes two offshore wellhead platforms…
Shell on Thursday reported a second quarter profit of $11.5 billion, smashing its previous record just three months earlier, lifted by a tripling of refining profits and strong gas trading.The company also announced a share buyback program of $6 billion for the current quarter…
Subsea 7 and Van Oord have been awarded a contract by ExxonMobil affiliate Esso Exploration and Production Guyana Limited (EEPGL) for the Gas to Energy project offshore Guyana, in water depths of up to 1,450 metres.The scope covers the project management…
New York is seeking renewable energy to power at least 1.5 million New York homes in its third offshore wind solicitation, Governor Kathy Hochul said on Wednesday, as the state ramps up development of the industry.Administered by the New York State Energy Research and Development Authority…
In our first article we highlighted some of the key contractual considerations facing shipowners looking to construct and charter offshore wind vessels. In this article we explore some of the considerations concerning the financing and bankability of offshore wind vessels…
ADNOC Drilling Company PJSC on Wednesday confirmed the award of contracts worth $2 billion to support the world’s largest offshore sour gas development, ADNOC’s Ghasha offshore mega gas project, offshore Abu Dhabi.The contracts are valued at $1…
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