Oil and gas firms in Norway have increased their 2022 investment forecasts during the last three months as the industry prepares to take advantage of tax incentives designed to boost activity, a national statistics office (SSB) survey showed on Thursday…
The Abu Dhabi National Oil Company (ADNOC) has awarded two engineering, procurement and construction (EPC) contracts totaling $1.46 billion (AED5.36 billion) for the Dalma Gas Development Project offshore Abu Dhabi.The Dalma field is part of…
Norwegian offshore engineering firm Aker Solutions has said it has won a 'substantial' contract with Petrobras to provide a subsea production system and related services for the Mero 4 project, offshore Brazil. Aker Solutions defines a substantial…
Brazil has no plans to join the Organization of the Petroleum Exporting Countries (OPEC) for now, although it is working with the producer group, its energy minister said on Wednesday.Brazilian President Jair Bolsonaro said in 2019 he wanted his country to join OPEC…
Dutch FPSO specialist SBM Offshore has won contracts to perform Front End Engineering and Design (FEED) for an FPSO for Exxon's Yellowtail development offshore Guyana. This will be SBM Offshore's largest-ever FPSO.The FEED contract for what will be Guyana's fourth FPSO…
Oilfield services company TechnipFMC has said it has won 'a large' contract with ExxonMobil, to supply the subsea production system for the Yellowtail development in the U.S. oil major's Stabroek Block, offshore Guyana.For TechnipFMC, a “large” contract is between $500 million and $1 billion…
The International Energy Agency (IEA) on Tuesday upped its average Brent crude oil price assumption for 2022 to $79.40 a barrel, but predicted a rally may ease off as prices that hit a three-year high last month push up global production.Brent is expected to average $71…
Malaysian FPSO supplier Yinson has signed two letters of intent with Brazilian oil company Petrobras for the charter, operations, and maintenance of Integrado Parque das Baleias (“IPB FPSO”), a floating, production, storage, and offloading vessel in the North Campos Basin…
Australia's Woodside Petroleum on Monday took a big step toward funding its biggest growth project, announcing the sale of a 49% stake in the planned expansion of its Pluto liquefied natural gas (LNG) plant in Western Australia.In a statement…
Italian energy industry giant Eni said Monday it had held the naming and sail away ceremony for the Coral-Sul FLNG unit, the first floating LNG facility ever to be deployed in the deep waters of the African continent. The event took place at Samsung Heavy Industries shipyard in Geoje…
Saipem, an Italian energy industry construction and installation services provider, has secured two new offshore contracts in Australia and Turkey totaling more than $600 million for transportation and installation activities.In Australia, Chevron…
Abu Dhabi National Oil Co (ADNOC) Chief Executive Sultan al-Jaber said on Monday the world could not 'simply unplug' from hydrocarbons and that the oil and gas industry needed to invest over $600 billion a year until 2030 to meet expected demand…
Norway's trade surplus rose to a record high in October as revenues from its offshore petroleum fields soared, led by a spike in the price of natural gas, national statistics agency (SSB) data showed on Monday.The October surplus hit 84.5 billion Norwegian crowns ($9…
Several African countries plan to exploit their oil and gas reserves to tackle poverty and energy shortages, representatives gathered in Dubai said this week in the face of pressure to end fossil fuel extraction to curb global warming.Officials…
Exxon Mobil is in discussions with Dutch contractor SBM Offshore NV to build a fourth multibillion-dollar production unit to develop its Guyana oil discoveries, two people close to the negotiations said.The talks include the potential for some future platform assembly in Guyana…
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