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.
Brazil
Oil and gas drilling set for ‘staggering’ 20-year low – Rystad
Oil and gas drilling is on course for a "staggering" 20-year low, according to consultancy Rystad Energy.
No more FPSO orders in 2020
No more floating production, storage and offloading (FPSO) vessels will be ordered this year, Rystad Energy has predicted.
Angola in debt talks with oil importers
Angola is in talks with some of its oil customers in a bid to restructure financing facilities, the Ministry of Finance has said, in order to “better reflect the current market environment and OPEC production quotas”.
Yinson to supply FPSO to Aker Energy
Aker Energy has signed a letter of intent (LoI) on a floating production, storage and offloading (FPSO) with Yinson Holdings Berhad.
Carbon and cash to determine Galp project plans
Galp will focus on major upstream projects, company executives said today, but these must be able to compete in a world where demand may be constrained.
BW scales back IPO plans on coronavirus chill
Plans for an IPO for marginal field-developer BW Energy have been pushed back – and pricing scaled back – in light of financial volatility, blamed on the coronavirus in China.
Subsea 7, Modec among deal winners for Equinor project in Brazil
Equinor has dished out feed contracts for phase one of the Bacalhau (formerly Carcara) area in Brazil.
BW Energy sets out IPO pricing
BW Energy expects to price shares in its IPO at 34.2-36.6 Norwegian krone ($3.74-4), valuing the company at $700-750 million.
Woodmac exploration outlook: Move from ‘Big Oil to Big Energy’ under way
The move from “Big Oil to Big Energy” is under way as the energy transition puts extra pressure on explorers, an analyst has said.
BW Energy plans Oslo IPO this quarter
BW Offshore intends to hold an IPO of its BW Energy unit, which is producing oil in Gabon, in the first quarter of 2020 on the Oslo Stock Exchange.
Oil holds biggest weekly drop since July on easing Gulf tension
Oil was steady after the biggest weekly drop since July as an easing of geopolitical tension in the Middle East turned attention back to a flood of new supply set to hit the market this year.
Exploration in 2020: Transition, what transition?
The Energy Transition and Extinction Rebellion may have led the energy news agenda and stimulated reflection in many E&P boardrooms in 2019, but the impact on exploration drilling is not yet apparent.
Reasons for optimism: Taking stock of carbon reduction achievements and possibilities
As we enter a new decade, I’m sure I’m not alone in reflecting on matters that are personally important, together with major issues that impact on society, the environment and the economy.
Brazil-based partner chosen for Deep Casing Tools
Oilfield technology firm Deep Casing Tools (DCT), of Aberdeen, said yesterday it had appointed a Brazil-based partner to help it win orders in South America.
Avenir, Golar Power team up for small-scale Brazilian LNG
Avenir has set out a planned entry into a second country, Brazil, under a small-scale LNG delivery scheme with Golar Power.
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.
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.
Inaugural event to focus on subsea and drilling in Brazil
A first of its kind event focussing solely on the subsea and drilling industries in Brazil is set to take place in Rio de Janeiro in November.
Chariot offers up opportunities, big and small
Chariot Oil & Gas is covered for its near-term work commitments but to step ahead it must sign up partners for its various projects.
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.
Trac back on track
Trac Oil and Gas’ boss believes the time is right to revisit the firm’s international expansion plans after getting off to a false start several years ago.