Exxon Mobil on Wednesday set annual capital spending through 2027 at $20 billion to $25 billion, allocating money to low-carbon projects and extending its previously projected investment rate for two years.The top U.S. energy producer slashed costs after a historic $22…
Brazilian oil company Petrobras has signed contracts with the Dutch FPSO specialist SBM Offshore for the chartering and provision of services of the FPSO Alexandre de Gusmão.This will be the fourth definitive floating production system to be installed in the Mero field…
Marine seismic contractor PXGEO has completed the Sapinhoa 4D Baseline ocean bottom node program in the deepwater Santos Basin, offshore Brazil, for the BMS-9 consortium, which is controlled by Petrobras.The four-month project, which used PXGEO's Manta OBN technology…
Offshore drilling company Seadrill has won two contracts with Brazil's Petrobras for the West Carina and West Tellus drillship.The two rigs will work on the Búzios field offshore Brazil. Both contracts have been signed on a 3-year fixed-term basis…
Brazil's Petrobras said on Wednesday it expects to invest $68 billion from 2022 to 2026, a sharp increase from its previous five-year plan, as the state-run oil company seeks to grow oil production from the subsea pre-salt area.The oil production forecast for next year fell slightly…
Norwegian oil and gas company Equinor has extended the contract with the engineering and consulting firm Wood for the delivery of maintenance solutions across the Peregrino wellhead platforms (WHP) and FPSO, located offshore Rio de Janeiro, Brazil…
PJ Valves (PJV), a manufacturer and supplier of valves for the energy industry, has secured orders to supply valves for two FPSOs in Brazil.One of these FPSOs is planned to be one of the largest offshore oil producing units in the world. The FPSO…
Guyana is getting ready to raise requirements on oil operators to protect the nation against spills and future removal costs of production platforms, the head of its environmental agency told Reuters.Guyana currently requires financial assurance…
Colombia will look to add 3 billion barrels of oil equivalent (boe) to its hydrocarbon reserves by 2040, Armando Zamora, president of the national hydrocarbons agency (ANH), said on Friday.The addition of these reserves will guarantee Colombia's energy self-sufficiency said Zamora…
Ecuador hopes to hold at least four auctions in 2022 to award oil blocks and the operation of Esmeraldas, its largest refinery, to private companies as it seeks to pull in billions of dollars in investments, Energy Minister Juan Carlos Bermeo said on Friday…
Brazilian oil company Petrobras has awarded Italy's Saipem a new contract worth $940 million for the delivery of subsea umbilicals, risers, and flowlines (SURF) for the installation of a rigid riser-based subsea system for a project offshore Brazil…
Brazilian oil company Petrobras has said it has identified the presence of hydrocarbons in a pioneer well in the Aram block, in the Santos Basin pre-salt, offshore Brazil.The well 1-BRSA-1381-SPS (Curaçao) is located 240 km from the city of Santos…
Petroleo Brasileiro SA is expected to commit between $60 billion and $70 billion in capital expenditure (capex) in its next multi-year business plan as Brazil's state-controlled oil company focuses on exploration and production in subsalt areas…
Suriname has been described as the next big thing in the offshore oil and gas exploration world, as its proximity to Guyana where ExxonMobil has discovered around 10 billion barrels of oil so far has led oil companies, including ExxonMobil,…
French steel pipemaker Vallourec narrowed on Wednesday its full-year EBITDA guidance and said it plans to launch the disposal process for its German assets as well as relocate its oil & gas activities to Brazil.'Our German operations continue to underperform…