TMC to provide compressors for Bonga FPSO
Norway’s TMC Compressors will provide a complete offshore topside compressed air system to the Bonga Main vessel offshore Nigeria.
Brazil
Oil trader Trafigura denies Brazil prosecutor bribery claims
Trafigura Group Ltd. denied bribery allegations leveled by Brazilian prosecutors in a civil lawsuit claiming the commodities trader and its staff participated in a kickback scheme to win business with state oil producer Petroleo Brasileiro SA.
SBM Offshore hit with fresh corruption suspicions from Swiss prosecutor
SBM Offshore is seeking clarity from the Swiss Federal Prosecutor after it brought fresh suspicions of corruption against the Dutch contractor.
Oil companies on track to discover 10billion barrels in 2020 despite pandemic – Rystad
Oil companies are on track to discover 10 billion barrels this year, despite the coronavirus pandemic temporarily halting exploration activity this spring, according to Rystad Energy.
Revenues up 16% for SBM Offshore thanks to Guyana and Brazil FPSOs
Dutch shipbuilder SBM Offshore has seen underlying revenues increase by 16% thanks to major orders for FPSO vessels in Guyana.
Prosafe gets £21.7million Safe Notos extension with Petrobras
Prosafe has secured a contract extension worth £21.7million for its Safe Notos vessel with Petrobras.
Total trims spending on price volatility
Total has no clear view on prices in 2021 and is taking a cautious stance on spending plans, the company’s CFO Jean-Pierre Sbraire said after the company published its third quarter results.
Total holds the dividend, cuts debt
Total has reported adjusted net income of $848 million, with an organic cash breakeven below $25 per barrel.
Subsea holds the key as TechnipFMC enjoys strongest quarter for orders
TechnipFMC enjoyed its strongest quarter of the year for new orders in the three months ended September 30, booking in $2.2 billion of new deals.
$20 per barrel for project approvals, Pouyanné states
Total remains committed to developing hydrocarbon resources, but the cost must be sufficiently low to survive in a world of lower prices, the company’s chairman and CEO Patrick Pouyanné has said.
Total strikes deal to transfer Brazil basin blocks to Petrobras
Total has reached a deal to transfer its stakes in five exploration blocks in the Foz do Amazonas Basin, offshore Brazil, to Petrobras.
Oil project approvals to recover and exceed pre-Covid levels from 2022
The Covid-19 pandemic has devastated global oil and gas project sanctioning this year and will cause total committed spending to drop to around $53 billion from 2019’s $190 billion, Rystad Energy says.
UK to see world’s second-highest deployment of FPSO vessels in next five years
The UK North Sea will see the world's second-highest deployment of FPSO vessels in the next five years, according to new analysis.
Microsoft deepens oil ties, helping Petrobras weather pandemic
Big Oil is tapping Big Tech to keep drilling off the shores of Brazil even as the global pandemic traps workers at home.
TechnipFMC bags huge contract for Mero 2 project off Brazil
The Libra Consortium has awarded TechnipFMC a huge contract for the Mero phase two project offshore Brazil.
Third phase of Mero development off Brazil sanctioned
Total and its partners have taken an investment decision for the third phase of the Mero project offshore Brazil.
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.
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.