Keppel Offshore and Marine's (Keppel O&M's) (SGX:BN4) wholly owned subsidiary, Keppel Shipyard, has won an international tender from Brazil’s national oil company, Petroleo Brasileiro S.A (Petrobras), for the engineering, procurement and construction (EPC) of P-80, a floating production, storage and offloading vessel (FPSO) in a deal worth about US$2.9 billion.
A small group of deep-pocketed companies increasingly dominates exploration and, as yet, they are avoiding the boom-and-bust mentality of previous oil cycles.
Developing LNG projects is traditionally seen as a big-ticket item, reserved for the few. Costs are high and equipment specialised, making the resource out of reach for most smaller scale operators – despite the advantages it offers.
Glencore has agreed to pay penalties of $1.06 billion to US and Brazilian authorities. More is to come in a UK settlement with the Serious Fraud Office (SFO).
Expensive offshore exploration setbacks for international oil majors including Shell and Exxon Mobil are throwing cold water on their plans to turn Brazil into a profit center.
Projects backed by Standard Chartered in 2021 will emit 2.3 billion tonnes of CO2 over their lifespan, with Mozambique LNG to play a major part in this.
Petrobras has selected Jose Mauro Coelho to become the next chief executive officer of Latin America’s largest oil producer at a time high fuel prices have put it under political scrutiny.
ExxonMobil drilled a so-called dry hole off the coast of Brazil, a rare setback in the oil titan’s effort to expand its South American crude reserves.
The Institute for Energy Economics and Financial Analysis (IEEFA) has raised a warning over New Fortress Energy’s (NFE) plans.
Brent oil prices average $60-80 per barrel until 2027, BofA Global Research has said in a new report, suggesting high prices are here to stay – at least in the medium term.
BW Offshore has signed a deal to recycle its BW Cidade de São Vicente at a yard in India, in compliance with the Hong Kong International Convention.
The industry drilled more wells in 2021 than 2020, IHS Markit has reported, with notable successes in high impact wells adding new resources.
TechnipFMC has won a “large” engineering, procurement, construction and installation (EPCI) deal with Petrobras for the Buzios development off Brazil.
Malaysia’s Yinson, an energy infrastructure and technology company, will provide a floating storage and offloading (FPSO) vessel to Enauta Energia for use at the Atlanta field in the Santos basin offshore Brazil in a deal worth at least $505 million.
Brazil has handed out rights to its Atapu and Sépia pre-salt fields to Petrobras and international partners.
SBM Offshore has signed a contract with Brazil’s Petrobras on the delivery of a floating production, storage and offloading (FPSO) vessel on the Mero field.
Offshore drilling firm Seadrill has today announced that it has secured two contracts with Petrobras for work on the Buzios field, off Brazil.
Switzerland has ordered three SBM subsidiaries to pay 7 million francs ($7.5mn) for failing to prevent bribe paying in Angola, Equatorial Guinea and Nigeria.
Saipem has secured a contract with Petrobras worth around £700 million for work offshore Brazil.
More than 190 countries signed on the dotted line of the Paris Agreement in 2015, forming a new global consensus on the imperative to halt rising temperatures. The collective results since then haven’t been enough.
An oil and gas worker has described how his “dream came true” having gone from a small rural town in Brazil to a North Sea FPSO.
Global offshore and subsea capital expenditure (capex) recently hit its highest quarterly level for two years, according to an industry database.
New export markets in renewables are on the cards for Balmoral Group, typically known for its oil and gas buoyancy tech, as its product offering “evolves”.
Engineering and consultancy firm Wood said tonight it had agreed to settle legacy bribery and corruption investigations in Brazil, the UK and US for £127.5 million.
Subsea 7 has won a contract with Petrobras for development of the Mero-3 field off Brazil.