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A 'Chicago Boy' Takes the Reins at Petrobras

Jan 04, 2019

Depending on who you ask, Roberto Castello Branco, the new chief executive of Brazil's Petroleo Brasileiro SA, will either save the indebted oil major - or strip it to the bone.Tapped by far-right President Jair Bolsonaro, who took power on Tuesday…

Record LNG Capacity to Get Green Light in 2019

Jan 04, 2019

A record amount of liquefied natural gas (LNG) production is expected to get the green light in 2019 amid strong global demand, especially from China, analysts said.A final investment decision (FID) could be taken on more than 60 million tonnes per annum of LNG capacity this year…

Oil Rises Above $57 on China-U.S. Trade Talks, OPEC Cuts

Jan 04, 2019

Oil rose to above $57 a barrel on Friday after China said it would hold trade talks with the United States and a survey showed China's services sector expanded in December, while signs of lower crude supply also lent support.The Organization…

DNO Adds to Faroe Stake in Hostile Takeover Saga

Jan 04, 2019

Norwegian oil company DNO has achieved another slight increase to its stake in Faroe Petroleum, it said on Friday as it continues its battle for control of the British business.DNO's combined ownership and bid acceptances now stands at 43.8 percent…

India Plots Exploration Licensing Round

Jan 04, 2019

India will start auctioning for 14 oil and gas blocks in its second exploration licensing round on Monday, giving freedom to the companies to carve out areas they want to drill.The blocks together hold undiscovered reserves of about 14,995 million tonnes of oil equivalent…

Indonesia's Oil Output Rises

Jan 04, 2019

The Indonesian unit of Chevron Corp produced 209,400 barrels of oil per day (bpd) from the Rokan block in 2018, down from 223,000 bpd a year earlier, Dwi Soetjipto, chairman of upstream oil and gas regulator SKK Migas said.Exxon Mobil produced 209…

Topaz Bags Wind Charter

Jan 04, 2019

Dubai-based Marine logistics company Topaz Energy and Marine (Topaz) has signed an agreement with a north European contractor for the charter of Topaz's newbuild for offshore wind farms in the North Sea.The contractor will charter Topaz’s newbuild subsea vessel…

Brasse Wells Disappoints Faroe Petroleum

Jan 04, 2019

Faroe Petroleum has failed to find hydrocarbons at its Brasse East exploration well in the Norwegian North Sea, while the Brasse appraisal sidetrack well encountered hydrocarbons.The Aberdeen-headquartered firm said that the Brasse East exploration well 31/7-3 S was drilled to a total depth of 2…

DNO Exits Oman Offshore Block

Jan 04, 2019

Norwegian oil and gas operator DNO ASA subsidiary DNO Oman Block 8 Limited has relinquished operatorship and participation in the offshore Oman Block 8 to the Sultanate of Oman's Ministry of Oil and Gas (MOG) and state-owned Oman Oil Company Exploration and Production LLC (OOCEP)…

Valero Reports Oil Product Leak in Britain's Milford Haven Waterway

Jan 03, 2019

Valero Energy Corp said on Thursday that an unknown amount of oil product had spilled into the Milford Haven waterway in Pembroke in Wales.'Valero is working in coordination with response agencies to contain the effects from the release of oil…

Renewables Take Over as Germany's Main Energy Source

Jan 03, 2019

Renewables overtook coal as Germany's main source of energy for the first time last year, accounting for just over 40 percent of electricity production, research showed on Thursday.The shift marks progress as Europe's biggest economy aims for…

Bourbon Advises of General Waiver Renewal with Lenders

Jan 03, 2019

Bourbon has announced the renewal of the general waiver with its leasers and debt holders representing the majority of the group’s debt, thus allowing it to suspend the payments of its loans and debt.According to Bourbon, the waiver allows it to stay focused on its operational priorities…

DNO Bid Undervalues Faroe by 48 %

Jan 03, 2019

North Sea player Faroe Petroleum published an independent valuation of its assets by Gaffney, Cline & Associates (GCA), which is said to highlight the inadequacy of DNO ASA's GBP608 million at 152p per share takeover offer.Faroe Petroleum could…

Highlands Natural Resources Completes Six Well

Jan 03, 2019

Highlands Natural Resources said six new wells on the East Denver shale oil and gas project in Colorado have been completed, with flowback starting on three of the six.The London-listed natural resources company said in a stock exchange annoucement…

WoodMac on Medco Energi's Potential Takeover of Ophir Energy

Jan 03, 2019

Wood Mackenzie Research Director, Angus Rodger, provides insight on a of UK-listed Ophir Energy by Indonesia's Medco Energi.'On the first day of 2019, Ophir announced it was in talks with Indonesia's Medco Energi regarding a cash takeover. No amount or other details have yet been released…

Current News

POSH Set to Tow Nguya FLNG from China to Eni’s Congo Field

POSH Set to Tow Nguya FLNG from China to Eni’s Congo Field

Chinese Contractor Secures Offshore Oil and Gas ‘Mega Deal’ from QatarEnergy

Chinese Contractor Secures Offshore Oil and Gas ‘Mega Deal’ from QatarEnergy

DOF Secures Moorings Hook-Up Job in Asia Pacific

DOF Secures Moorings Hook-Up Job in Asia Pacific

Saipem Bags $1.5B Contract for Türkiye Largest Offshore Gas Field

Saipem Bags $1.5B Contract for Türkiye Largest Offshore Gas Field

Floating Offshore Wind Test Center Planned for Japan

Floating Offshore Wind Test Center Planned for Japan

Synergy Marine Group Completes Conversion of LNG Vessel to FSRU

Synergy Marine Group Completes Conversion of LNG Vessel to FSRU

PTTEP Hires McDermott for Deepwater Subsea Job off Malaysia

PTTEP Hires McDermott for Deepwater Subsea Job off Malaysia

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