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Exxon Banks Record $56B Profit in '22

Jan 31, 2023

Exxon Mobil Corp posted a $56 billion net profit for 2022, the company said on Tuesday, taking home about $6.3 million per hour last year, and setting not only a company record but a historic high for the Western oil industry. Oil majors are expected to break their own annual records on high prices and soaring demand, pushing their combined take to near $200 billion. The scale has renewed criticism…

Farra Marine Orders Seven New CTVs

Mar 01, 2023

Irish crew transfer vessel (CTV) owner and operator Farra Marine has expanded its fleet of CTVs after ordering another seven vessels from Singapore-based Penguin Shipyard International. The new CTVs are part of the WindFlex-27 series, and when…

Petrobras 'Pre-salt' Geologist Tapped to Head E&P

Jan 30, 2023

The new Chief Executive of Brazil's Petrobras, Jean Paul Prates, has picked geologist Mario Carminatti to head the oil company's exploration and production division, people with knowledge of the information said on Friday.As the company's chief geologist…

Driven by Energy Transition, Proserv Realigns Key Management

Jun 14, 2022

Proserv move sees new roles for current Group CEO David Currie, Proserv Controls CEO Davis Larssen and arrival of former RenewableUK CEO Hugh McNeal.Proserv has announced a high-level senior management and corporate realignment as the business…

China's CNOOC Reports Record Profit, Output for 2021

Mar 30, 2022

China's CNOOC Ltd posted record annual net profit for 2021, with earnings nearly tripled from 2020, supported by rapidly rebounding oil and gas prices as global energy demand recovered from the pandemic.The state-controlled offshore oil and gas specialist posted a net profit of 70…

MEO Group Wins Contract to Supply Five Anchor Handling Tug Supply Vessels

Mar 10, 2022

MEO Group and its local joint venture partner, Uniwise Offshore Ltd, won a three-year contract for five Anchor Handling Tug Supply vessels (AHTS) by an E&P company in Thailand. The five vessels -- MEO Monarch 1, MEO Monarch 2, Uniwise Advantage…

Shell Greenlights $7B Shares Buyback 'At Pace' Despite LNG Woes

Jan 07, 2022

Royal Dutch Shell said it will pursue 'at pace' a $7 billion share buyback largely funded from the sale of its U.S. shale business as it faces liquefied natural gas (LNG) outages and slower fuel sales due to the economic hit from Omicron.Shares in Shell…

Hamel takes the Helm as GECF Secretary General

Jan 03, 2022

Mohamed Hamel from the People's Democratic Republic of Algeria has assumed office as the fourth Secretary General of the Gas Exporting Countries Forum (GECF), the global platform of leading gas exporting countries.He was appointed to the helm…

Malaysian Securities Regulator Charges Serba Dinamik, Seeks Arrest of CEO

Dec 29, 2021

Malaysia's securities regulator said it is seeking the arrest of oil and gas services firm Serba Dinamik Holdings' chief executive and has charged company officers with submitting a false statement to the country's stock exchange.In a statement issued on Tuesday…

Robotics: Bringing Navigation Accuracy to Petroleum Tank Inspection

Oct 27, 2021

An autonomous robot outfitted with a DVL is looking to revolutionize fuel tank inspection – while eliminating potential operational hazards.Boston-based Square Robot has deployed Nortek’s Doppler Velocity Logs (DVLs) – already established in…

Chinese Firms Seek LNG Cargoes, Demand is Strong

Aug 04, 2021

Two Chinese firms are seeking liquefied natural gas (LNG) cargoes for delivery over August to November as summer demand in the southern region remains strong and as companies prepare to meet winter demand, industry sources said.China's Shenzhen…

Acteon Inks Deal to Support Philippines LNG Import and Regasification Terminal

Aug 03, 2021

Acteon secured an integrated project with Atlantic, Gulf & Pacific Company (AG&P) for the development of a liquefied natural gas (LNG) import and regasification terminal in Batangas Bay, called Philippines LNG (PLNG). The contract was signed…

Report says BHP Mulls Oil & Gas Exit

Jul 20, 2021

Global miner BHP Group is considering getting out of oil and gas in a multibillion-dollar exit as it looks to speed up its retreat from fossil fuels, Bloomberg News reported on Tuesday, citing people familiar with the matter.The world's biggest…

Sherrard Enhances Squire Patton Boggs Commodities and Shipping Capabilities

Jan 04, 2021

Squire Patton Boggs continued the expansion of its commodities and shipping capabilities with the addition of partner Kate Sherrard into its Financial Services Practice. She joins the firm from Clifford Chance where she was Head of the Asia…

Digitalization: Trust - The Keystone for Digital Transformation

Oct 29, 2020

The slowdown of the world economy and plummeting energy consumption have eclipsed most other industry news. Oil exporting countries are coming to terms with limiting production to sustain reasonable prices, and operators are looking for ways to improve efficiency…

Current News

India Resumes Imports of Venezuelan Oil

India Resumes Imports of Venezuelan Oil

JIP to Advance Offshore Wind Concrete Floater Standards

JIP to Advance Offshore Wind Concrete Floater Standards

Malaysia Banks 1 Billion+ BOE Discoveries in 2023

Malaysia Banks 1 Billion+ BOE Discoveries in 2023

Fincantieri Set to Acquire Remazel Engineering

Fincantieri Set to Acquire Remazel Engineering

Webinar: How to Overcome Dynamic Emulsion Layer Measurement Challenges

Webinar: How to Overcome Dynamic Emulsion Layer Measurement Challenges

Saipem Inks $1.9B in Contracts

Investors Bet Against OPEC+ Raising Oil Prices

Investors Bet Against OPEC+ Raising Oil Prices

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