Brazil’s President Luiz Inacio Lula da Silva has fired Jean Paul Prates, the chief executive of state-owned oil company Petroleo Brasileiro SA, following a dispute over dividend payments.
Exploration is not quite the dirty word it was in 2020-21, but appetite remains muted and highly selective.
“But most of the cash flow increase is coming from improvements in the quality of the portfolio. We're shifting from mature legacy assets to next generation assets.”
Saipem said there had been “alleged irregularities in the award”. The CGU amended its previous ban, from December 2022, with this new order of a two-year suspension.
Offshore drilling contractor Valaris (NYSE:VAL) has announced a swathe of new contracts and extensions, with its order backlog rising to $1.14 billion.
The rig has repriced from a rate in the “low $200,000s”, the executive said. Now, it is priced at "an effective day rate in the high $400,000s”. The price suggests a day rate of around $488,000.
“At the same time [it is] hoping that shareholders with a long-term perspective will continue to support the company through joint ownership in the future”.
The company said it would carry out work with its FDS2, Constellation and Castorone vessels. It will carry out work from its Port of Georgetown base.
“Two decades later, we’re proud to be one of Shell’s chosen contractors to take part in the completion of this field’s life cycle.”
“One of our competitors bid pushed the pricing up to a point where probably, our clients thought that they would look at the schedule and the timing and the constraints of that project.”
Based on the IEA’s STEPS baseline scenario, Guyana will increase production to around 2mn bpd by the mid 2030s. Under the more conservative APS scenario, the IEA sees Guyana reaching 1.3mn bpd by 2035.
Looking at inspection alone, “the FlatFish case is compelling and it's credible. As long as the client is willing to count and sum up all the benefits, it makes perfect sense.”
As a result of the acquisition, Transocean will own eight of the world’s ultra-deepwater drillships. The Deepwater Aquila can operate in water depths of up to 12,000 feet (3,657 metres).
SLB’s (NYSE: SLB) chief executive has told the JP Morgan Energy Power and Renewable Conference that offshore spending will increase by 20% in 2023.
The Skandi Buzios has been involved in a fire while docked at a Brazilian port, according to local news agencies.
“The successful commissioning of the Enping 15-1 oilfield CCS demonstration project will strongly support the company’s efforts in increasing reserves and production and pursuing green and low-carbon development,” said CEO Zhou Xinhuai.
In May, reports suggested Adnoc and Apollo had offered $7.6 billion for Braskem.
Perenco bought a 100% stake in the Pargo, Carapeba and Vermelho fields from Petrobras. After adjustments, Perenco paid $398 million for the assets offshore Rio de Janeiro state. It also took over the decommissioning liability.
Deputy Prime Minister Heng Swee Keat said that Singapore could review a decision not to prosecute key figures at Keppel Offshore & Marine Ltd. over a major bribery case involving payments to Brazil’s state-run energy company Petrobras if there’s new evidence that warrants doing so.
The French supermajor said it expected to pay $400 million under the UK Energy Profits Levy (EPL) in the fourth quarter, bringing the full-year impact of the windfall tax to an expected $1bn.
Keppel Offshore & Marine (Keppel O&M) said on Monday that it has made full payment of the fines and damages payable worth 343.6 million reais (US$65 million) to Brazil under a leniency agreement that had been set out earlier.
Singapore’s Corrupt Practices Investigation Bureau (CPIB) has issued stern warnings to six ex-senior management staff of Keppel Offshore & Marine for their alleged bribery involving contracts with Brazil’s state-owned oil company Petrobras.
"For years, Honeywell neglected to implement sufficient internal accounting controls to mitigate against known corruption risks in countries like Brazil and Algeria," said Charles Cain, Chief of the SEC Enforcement Division’s FCPA Unit.
ExxonMobil has set out plans to focus on high return, low cost projects in the Permian Basin, Guyana, Brazil and LNG internationally.
TotalEnergies is to form a new joint venture to develop and operate wind and solar assets held by Brazil’s Casa dos Ventos.