TechnipFMC lands large contract for Petrobras Buzios 6 field off Brazil
TechnipFMC has won a “large” engineering, procurement, construction and installation (EPCI) deal with Petrobras for the Buzios development off Brazil.
Oil & Gas
BW Offshore books loss on Indonesian FPSO divestment
BW Offshore has signed a deal to sell its FPSO BW Joko Tole to a group of Indonesian companies that will free up cash to pursue other investments. However, the FPSO was sold at a loss.
KUFPEC strikes gas offshore Indonesia
Kuwait Foreign Petroleum Exploration Company (KUFPEC) has made its first operated offshore exploration discovery with its Anambas-2X well in the Anambas Block offshore Indonesia.
Hibiscus set to triple production now Repsol acquisition complete
Hibiscus Petroleum (KLSE: HIBISCS) has completed its acquisition of Repsol’s upstream assets in Malaysia and Vietnam that will increase the Malaysian-listed company’s oil and gas production almost threefold.
DP World wins another round against Djibouti on Doraleh
DP World has won another court case against Djibouti, on the Doraleh terminal, in London, while also pursuing a Chinese company on the issue.
Eni signs up logistics plan with AD Ports at Mugharraq
AD Ports has established a new agreement with Eni’s local subsidiary on setting up a marine logistics base.
Former Babcock business lands new helicopter contract with Well-Safe Solutions
Offshore Helicopter Services, the new name for the former Babcock Aberdeen business, has landed a new North Sea contract with Well-Safe Solutions.
Saudi Aramco says oil demand’s nearing pre-pandemic levels
Saudi Aramco said demand for oil is nearing pre-Covid levels and reiterated that producers globally are investing too little in supply.
Halliburton reports 2021 profits of £889m, forecasts ‘multi-year upcycle’
US oilfield services giant Halliburton is back in the black after a “solid execution” of its strategy in the last year.
Heerema secures decom contract for Petrogas platforms
Petrogas E&P has awarded Heerema an integrated engineering, preparation, removal, and disposal (EPRD) decommissioning contract for multiple oil platforms in the Dutch sector of the North Sea.
Out of time on Nigeria’s marginal bid round
If you were one of the winners of Nigeria’s marginal field bid round but have not paid the signature bonus, too bad, your time is up.
Dangote pushes 650,000 refinery start to end of year
Dangote Industries will commission its 650,000 barrels per day refinery by the end of the year, officials have told African Development Bank (AfDB) president Akinwumi Adesina.
Gulf Keystone dials down production hopes in 2022
Gulf Keystone Petroleum has declared an additional dividend but warned that production will not grow as much as expected in 2022.
Var Energi IPO on the way, say owners Eni and HitecVision
An initial public offering (IPO) is to be launched for Norwegian operator Var Energi, ownership partners Eni and HitecVision have announced.
UAE intercepts missiles launched by Houthis
The United Arab Emirates has destroyed two ballistic missiles launched from Yemen this morning.
Life after oil: From North Sea ships to Aberdeen Geek Retreat
Scott Leslie admits his hands were trembling as typed up a letter quitting his job overseeing a fleet of North Sea ships.
Carnarvon confirms Buffalo-10 well offshore East Timor is a dud
Carnarvon Energy (ASX:CVN) has today confirmed that the Buffalo-10 exploration well offshore East Timor is uncommercial.
Private equity deals surge to £2.4 billion for UK North Sea
Private equity took a keen interest in the UK North Sea in 2021, with £2.4 billion worth of deals for the country’s oil and gas industry.
Philippines set for first LNG imports as First Gen and Tokyo Gas seek cargoes
Local utility First Gen Corporation is on track to start importing the Philippines’ first-ever cargoes of liquefied natural gas (LNG) later this year as its receiving terminal nears completion.
Upstream M&A deals hit three-year high of $181 billion in 2021
Global upstream merger and acquisition (M&A) deals rebounded to pre-Covid-19 levels in 2021, reaching a total of $181 billion, a 70% increase over 2020, Rystad Energy research shows. The total deal value for 2021 was the highest in three years and almost reached the highs seen in 2017 and 2018 of $205 billion and $199 billion, respectively.
ADC Energy bags largest US onshore contract with major operator
ADC Energy has bagged its largest US onshore project to date to deliver rig inspection services for a major operator’s fleet in the Permian Basin.
Babcock takeover ‘removes the weakest competitor’ in the North Sea, says CHC
CHC has told competition authorities that its takeover target of Babcock Aviation is “not a particularly serious competitive threat” to the company.
Ghana pushes back sulphur limits for local fuel
Ghana has waived sulphur specifications on locally produced vehicle fuels in order to keep its refineries functioning.
Schlumberger storms to $2.4bn profit in 2021
Reporting its Q4 and full-year results for 2021, oilfield services provider Schlumberger said it had closed the year with “great momentum.”
Oceaneering lands decommissioning ‘world-first’ as six operators team up on dozens of North Sea wells
A group of six operators have signed a “word-first” decommissioning deal with Oceaneering to shut down dozens of North Sea wells as part of a campaign.