MODEC, Inc. (“MODEC”) is pleased to announce that FPSO Bacalhau has received the Approval in Principle (AiP) for Abate Notation from classification society DNV, making it the first new built FPSO in the world to achieve this prestigious recognition.
TechnipFMC (NYSE: FTI) has
been awarded a significant(1) contract to supply flexible pipes to Petrobras for the pre-salt
fields offshore Brazil.
New boss Murray Auchincloss, who took the helm in January, has shifted the company’s focus towards high growth and increased returns to shareholders amid weakened profit margins.
Shell UK Ltd. spudded an exploration well in the P2437 license area, UK Southern North Sea.
Petrobras saw its crude oil production increase by 2.6% year-over-year to 2.156 million barrels per day (bpd) in the second quarter, the Brazilian state oil and gas giant said in a production and sales report.
Brazil will continue to be a key investment area for ExxonMobil, local CEO Alberto Ferrin told the Latin American Energy Economics Meeting (ELAEE) in Rio de Janeiro.
The Gas-to-Energy project moved closer to fruition yesterday with the signing of a US$8.6 million contract between the Govern-ment of Guyana and Chinese company, Power China, to construct a building to house the National Control Centre, a Depart-ment of Public Information (DPI) release stated yesterday.
Canada-based oil and gas exploration company Eco Atlantic Oil and Gas (Eco) has signed a share cancellation deal with Africa Oil SA Corporation (AOSAC).
Ghana must work towards developing its refinery capabilities to add value to its large crude oil deposits if it desires to take charged of its economy, Executive Chairman of the Sentuo Group, owners of Sentuo Oil Refinery (SOR) Limited, Mr Xu Ningquan has said.
Crude oil prices continued to fall on Tuesday, with WTI trading just above $75 and Brent slipping below $80.
Concerns about Chinese demand continue to drag prices lower, with expectations of China’s manufacturing activity shrinking for a third month in a row.
In some bullish news, Venezuela’s election results could lead to tighter US sanctions and lower oil supply.