Global ‘boom’ in FPSO market fuelled by Brazilian demand
The global market for floating production, storage and offloading vessels (FPSOs) is headed for a major renaissance, according to Rystad Energy.
Americas
Guyana approves revised work programme for Corentyne block
Guyanese authorities have approved a plan presented by CGX Energy and its partner Frontera Energy to re-sequence the work programme for the offshore Corentyne block.
PG&E cuts deals to trim prices it pays for solar and storage
PG&E Corp., the California utility giant that went bankrupt in January amid crippling wildfire liabilities, has reached a deal with some of its power suppliers that would cut the prices it pays for their electricity.
BP awards Mad Dog 2 hook-up and commissioning deal to Worley
Engineering and procurement firm Worley announced today it has been awarded the hook-up and commissioning deal for BP's Mad Dog 2 project in the Gulf of Mexico.
Shell makes FID on PowerNap project
Shell has made a final investment decision (FID) for the PowerNap deep-water project in the US Gulf of Mexico.
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.
Shell completes sale of interest in the US Gulf of Mexico asset
Shell has completed the sale of a 22.45% non-operated interest in the Caesar-Tonga asset in the US Gulf of Mexico to Equinor.
Argentina-focused Vista raises $107m in share offering
Vista Oil & Gas has raised US$107 million in a primary public share offering aimed at funding shale drilling work in Argentina, where it has set ambitious targets.
Houston rig giant keeps Astros owner on board, defying investors
Jim Crane, the former All-American pitcher who owns the Houston Astros, was voted off of Nabors Industries Ltd.’s board by shareholders. The world’s biggest owner of land-drilling rigs says it wants him to stay.
Qatar strikes deal with Total for offshore Guyana blocks
Qatar Petroleum has agreed a deal with Total to buy stakes in two blocks offshore Guyana.
Chevron can stay in Venezuela until October despite sanctions, US says
The Trump administration is allowing Chevron to continue operating in Venezuela at least until October despite US sanctions aimed at ousting President Nicolas Maduro by choking off revenue from the world's largest crude reserves.
Pressure on Trump to bring an end to Chevron’s Venezuela presence
Pressure is mounting on U.S. President Donald Trump to end Chevron Corp.’s 100-year presence in Venezuela as he seeks to exert maximum pressure on the embattled regime of Nicolas Maduro.
Worst is yet to come for shale drilling, biggest rig owner warns
America’s biggest owner of drilling rigs fell the most in seven months after the chief of Helmerich & Payne Inc. said he called the bottom too soon.
Texas oil town wants the nation’s nuclear waste
As Blake Roberts bounced along a single-lane dirt road in his red Ford Super Duty pickup he pointed to a pumpjack bobbing in the West Texas heat.
Halliburton cuts 8% of North American workforce amid fracking slump
Houston oilfield service company Halliburton said it cut 8 percent of its North American workforce as it took fleets of hydraulic fracturing equipment from the field in response to a continued slump in demand for fracking services in the United States and Canada.
Oxy sends investor letter to reject activist Icahn proxy bid
Occidental Petroleum sent a letter to its shareholders Monday asking them to reject the board takeover bid pushed by activist investor Carl Icahn.
Guyana’s plans to raise oil royalties could ‘diminish attractiveness’
Guyana’s plans to raise oil and gas royalties may “diminish attractiveness” to future investors, according to new analysis.
New WildFire Energy gets more than $1bn in private equity backing
A cofounder of WildHorse Resource Development has formed the new WildFire Energy in Houston with more than $1 billion in backing from two major private equity firms.
Callon Petroleum acquires Carrizo Oil in $1.21bn merger of Houston firms
Callon Petroleum will acquire Carrizo Oil & Gas at a price tag of more than $1.2 billion in a combination of two Houston oil producers.
US oil executive gets 18 years in prison for defrauding investors
A Houston oil executive was sentenced to state prison for defrauding investors who thought they were paying for the drilling and testing of wells -- but instead paid the executive's mortgage.
Chevron seeks all-electric Canada LNG plant to cut emissions
Chevron Corp. is seeking approval to modify its plans for a liquefied natural gas export facility on Canada’s Pacific Coast to an all-electric design that it says will result in the lowest greenhouse-gas emissions per ton of LNG of any large project in the world.
Anadarko sets August shareholder vote on Oxy takeover
Shareholders of Anadarko Petroleum will get to vote Aug. 8 on whether to approve the pending $38 billion acquisition of The Woodlands oil and gas producer by Occidental Petroleum, the company announced late Thursday.
BP, Shell and Chevron evacuate workers from Gulf of Mexico platforms
The top Big Oil operators in the Gulf of Mexico said Tuesday they are evacuating workers from most of their deepwater platforms in response to this hurricane season's first looming disturbance in the area.
Chevron Phillips-Qatar, Ineos projects supersize growing industry
Two new petrochemical projects are underway along the Gulf Coast as the sector’s second wave of expansion rolls on, despite analyst projections of abundant supplies, lower prices and a potential industry downturn in the coming years.
Ineos to expand Texas petrochemical plant
The petrochemical giant owned by Britain's richest man Jim Ratcliffe is expanding its Chocolate Bayou chemical plant in Texas to tap into a fast-growing ethylene oxide market.