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Distressed Venezuelan Supertanker Discharging Oil Cargo in Asia - Sources

Feb 24, 2022

A U.S.-sanctioned Venezuela-owned supertanker that had mechanical problems since January is transferring its 2-million-barrel cargo of heavy crude to other vessels in Asia, according to three people familiar with the matter.The very large crude carrier (VLCC) Maximo Gorki left Venezuela in November amid an export push designed to generate funds for cash-strapped state oil company Petroleos de Venezuela (PDVSA)…

Corio, FECON Plan to Build 500MW Offshore Wind Farm in Vietnam

Jun 24, 2022

Corio Generation,  a recently established offshore wind branch of Macquarie's Green Investment Group (GIG), has signed an agreement with Vietnamese construction and infrastructure group FECON for a proposed 500 MW offshore windfarm in Ba Ria…

Saipem Wins $1.1B in Offshore Contracts in Guyana and Australia

Jan 11, 2022

Italian offshore oilfield services company Saipem has won $1.1 billion worth of offshore contracts in Australia and Guyana with Woodside and ExxonMobil, respectively.In Australia, Woodside has granted Saipem the Notice to Proceed (NTP) for a contract related to the Scarborough project…

Yinson, Enauta Pen LoI for Atlanta Field FPSO

Dec 20, 2021

Malaysian FPSO contractor Yinson has signed a Letter of Intent with the Brazilian oil company Enauta Energia for the provision, operation, and maintenance of an FPSO at Enauta's Atlanta field in the Santos Basin, offshore Brazil.Enauta has been…

Exxon to Hold Spending at $20B to $25B Through 2027

Dec 02, 2021

Exxon Mobil on Wednesday set annual capital spending through 2027 at $20 billion to $25 billion, allocating money to low-carbon projects and extending its previously projected investment rate for two years.The top U.S. energy producer slashed costs after a historic $22…

SBM Offshore to Build Fourth FPSO for Exxon in Guyana

Nov 17, 2021

Dutch FPSO specialist SBM Offshore has won contracts to perform Front End Engineering and Design (FEED) for an FPSO for Exxon's Yellowtail development offshore Guyana. This will be SBM Offshore's largest-ever FPSO.The FEED contract for what will be Guyana's fourth FPSO…

Guyana Could Resume Oil Supply Talks with India

Oct 22, 2021

Oil producer Guyana could resume talks with India for a deal to sell the government's share of crude as output rises next year, the South American nation's vice president told Reuters.Earlier this year, Indian refiners bought at least two test cargoes of Guyana's Liza light sweet crude…

Guyana Opts Against Long-term Oil Supply Deal with India

Aug 10, 2021

Guyana's Natural Resources Ministry said on Monday the country earned nearly $80 million from a July crude cargo sold to an Indian refiner, the highest figure since exports began in early 2020, though an official ruled out a long-term supply deal…

Solstad Offshore Nets Medium-term Deals for Offshore Construction Vessel Duo

Jul 21, 2021

Norwegian offshore vessel owner Solstad Offshore said Tuesday it had secured two contracts for its large construction vessels.The medium-term contracts are for the vessels Normand Navigator and Normand Frontier.The Normand Navigator, a 142,6 meters long vessel built in 2015…

MODEC Confirms Bacalhau FPSO Order

Jun 03, 2021

Japanese FPSO specialist MODEC has been awarded the contract for the delivery of an FPSO unit for Equinor's Bacalhau development.The EPCI contract award follows the final investment decision for the development of the field, announced by Equinor and its partners Tuesday…

First Crude Cargo from Guyana to India Sets Sail

Mar 24, 2021

The first cargo from new oil producer Guyana to the world's third-largest crude importer, India, departed this month from a production facility off the South American nation's coast in a vessel chartered by trading firm Trafigura, data from Refinitiv Eikon showed on Tuesday…

Offshore Drilling Market Poised for Growth, Rystad Says

Mar 23, 2021

Norwegian energy intelligence group Rystad Energy expects to see an increase in offshore wells drilled this year and the next one, compared to 2020, when the number was hit by low oil prices and the pandemic.Now, with oil and gas demand recovering supported by vaccinations and OPEC+ supply cuts…

Indian Refinery Buys Brazilian Tupi Crude

Mar 22, 2021

India's Mangalore Refinery and Petrochemicals Ltd has bought its first-ever cargo of Brazilian Tupi crude oil in a tender, two industry sources said on Monday.The 1-million-barrel cargo was sold by Royal Dutch Shell for May delivery, he added…

Palfinger to Deliver Lifeboats, Cranes for Anna Nery FPSO

Feb 12, 2021

Palfinger has won an order to deliver cranes, lifeboats, a rescue boat, and davits for Malaysia-based Yinson's Anna Nery FPSO, which will, once complete be deployed at Petrobras' Marlim 2 field offshore Brazil.Under the order, Palfinger will…

Sapura Energy Says Brazilian JV Unaffected by Seadrill's Chapter 11 Filings

Feb 09, 2021

Malaysian offshore energy services firm Sapura Energy said that its Brazilian joint venture with Seadrill is not affected by Chapter 11 cases filed by several Seadrill subsidiaries operating in Asia. Sapura Energy said it was responding to media…

Current News

Russia's Control of Sakhalin Project Could Pose Upside Risk to LNG Prices

Russia's Control of Sakhalin Project Could Pose Upside Risk to LNG Prices

Portugal's EDP to Scale Up Offshore Solar Plants in Southeast Asia

Portugal's EDP to Scale Up Offshore Solar Plants in Southeast Asia

India Imposes A Windfall Tax On Oil Producers and Export Duties For Oil Products

India Imposes A Windfall Tax On Oil Producers and Export Duties For Oil Products

Russia to Replace Sakhalin-2 Project Operator with New Firm

Russia to Replace Sakhalin-2 Project Operator with New Firm

State Agency Wants Net-zero Carbon Emissions from Australia's Giant LNG Plant

State Agency Wants Net-zero Carbon Emissions from Australia's Giant LNG Plant

Gazprom Cancels Dividend for First Time Since 1998. Shares Drop

Gazprom Cancels Dividend for First Time Since 1998. Shares Drop

Offshore Helicopters: Bristow in Long-term Maintenance Support Deals for AW139 Fleet

Offshore Helicopters: Bristow in Long-term Maintenance Support Deals for AW139 Fleet
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