Floating production system market set for quick rebound, Westwood Global says
The floating production systems (FPS) market will rebound to $13 billion annually from 2021-24 with an average oil price of $60 per barrel, analysts have said.
petrobras
Saipem wins £260m deal with Petrobras in Brazil
Italian oil and gas contractor Saipem has announced a multi-million pound deal with Petrobras at its Buzios pre-salt field.
Oil CEOs write open letter saying pandemic ‘sharpens focus’ on climate goals
The chief executives of 12 major oil and gas firms have written an open letter saying the Covid-19 pandemic won't delay climate action but has instead "sharpened" the focus on it.
NOCs to slash over a quarter of exploration budgets on average in 2020
National oil companies (NOCs) globally are estimated to cut exploration budgets by over a quarter on average in 2020, says Wood Mackenzie.
Prosafe vessel fleet use down by almost half in first quarter of 2020
Vessel-owner Prosafe has reported a significant knockdown in its fleet utilisation rate for the first quarter of 2020.
Petrobras looks to North Sea to decommission ‘former cash cow’ Campos Basin
Petrobras has set out the opportunity for UK firms to help decommission assets from its former “cash cow” Campos basin.
Africa Oil takes Nigeria dividend
Africa Oil has received its first dividend from its recently acquired Nigerian assets and has directed the cash to pay down a loan.
European oil firms leaving US counterparts behind in energy transition race, CMS report says
European and Chinese oil and gas firms are well ahead of US rivals in the energy transition race, new research has found.
Petrobras finally out of Africa
Petrobras has concluded the sale of its 50% stake in Petrobras Oil & Gas BV (POGBV), through which it held stakes in Nigeria’s Egina and Agbami fields.
Valaris pockets $200m after winning Samsung Heavy Industries dispute
UK headquartered driller Valaris has received a $200 million cash payment after winning a case against Samsung Heavy Industries (SHI).
Reuters DecomWorld confirm over 30 international E&P’s to Join 12th annual decommissioning summit in Houston, 2020
DecomWorld – part of Reuters Events- today announced the confirmation of over 30 international E&P delegations to attend their 12th Annual D&A Summit (March 31 – 1 April, Houston).
Petrobras sharpens deepwater focus in quest for value
Petrobras is in a state of transformation, company officials said at a press conference in London, with an eye on selling down assets and tackling debt – in tandem with major expansion plans.
Ex-Petrobras trader ‘Phil Collins’ claims he was bribed by Vitol
A former Petroleo Brasileiro SA oil trader who went by the code name “Phil Collins” told a Brazilian judge he received bribes from Vitol Group to favor the firm in contracts with the crude producer, court documents show.
Petrobras set to become world’s largest oil producer
Brazil’s Petrobras is on track to become the world’s largest oil producer among publicly listed companies by 2030, based on Rystad Energy’s latest data and forecasts.
Second failed Brazil oil auction has officials attacking rules
Brazil had its second failed oil auction in two days, prompting government officials and the head of the state-run producer to criticize bidding rules.
Africa Oil goes it alone in Nigeria deal
Africa Oil will go it alone in the acquisition of stakes in major fields offshore Nigeria after its partners, Delonex Energy and Vitol Investment Partnership, both withdrew.
World’s priciest oil auction may raise $50billion in Brazil
An auction next month of oilfields in Brazil may be the priciest ever held, raising at least $50 billion in licensing fees and compensation, according to people familiar with government estimates.
The FCPA on the rise: bribes, booms and bonuses
The US’ Foreign Corrupt Practices Act (FCPA) is the benchmark for anti-corruption efforts around the world but the ways in which it is being used are changing, as various countries work on their own efforts.
Brazilian oil bonanza evades BP, but time remains
It was supposed to be BP’s big Brazilian breakthrough after years of setbacks in one of the world’s top destinations for offshore oil.
More than 100 oil spills detected off Brazilian coast this month
Brazil's main environmental agency said it has detected 105 crude oil spills from an undetermined source polluting the waters of the country's north east coast this month.
OGCI reveals new initiatives to meet Paris goals
The Oil and Gas Climate Initiative (OGCI) today unveiled a series of initiatives aimed at reducing greenhouse gas emissions (GHGs).
Petrobras picks Halliburton for Santos Basin job
Houston-headquartered energy service firm Halliburton has been handed a contract by Petrobras for pre-salt development in the Santos Basin, offshore Brazil.
SBM inks letter of intent for FPSO destined for Brazil
Dutch oilfield services group SBM Offshore has signed a letter of intent (LoI) with Petrobras to provide an FPSO for the Mero field, 110 miles off Rio de Janeiro.
Petrobras picks McDermott for Sepia work
McDermott International will construct and install subsea risers and flowlines on Petrobras' Sepia field off Brazil.
Nigerian court dismisses Eni-Petrobras ‘bootleg oil’ case
A Nigerian high court dismissed the government’s claims that local units of Eni SpA and Petroleo Brasileiro SA illegally exported crude oil to the U.S.