Oilfield services giant TechnipFMC has signed three flexible pipe frame agreements with Brazil's Petrobras.'Altogether, the frame agreements form a large contract for TechnipFMC,' the company said. For TechnipFMC, a “large” contract is between $500 million and $1 billion.The contracts were awarded as part of Petrobras’s drive to increase oil recovery in its brownfield developments, mainly in post-salt fields offshore Brazil…
Brazilian President Luiz Inacio Lula da Silva said on Monday his government would promote recovery in the country's shipbuilding and oil and gas sectors, with more investment from state-run oil firm Petrobras SA and development bank BNDES. 'Petrobras…
Russia's energy minister said on Wednesday the recovery of oil production at the Sakhalin-1 oil and gas project in Russia's Far East would depend to a large extent on the position of ExxonMobil, Russian news agencies reported.ExxonMobil said…
Leaders from European Union countries are set to endorse the bloc's plan to wean itself off Russian energy and spend the bloc's COVID-19 recovery fund to do this, according to draft conclusions for a leaders' summit later this month.The European…
Russian oil companies Lukoil and Gazprom Neft have struck a deal to cooperate in the area of oil recovery enhancement projects. 'The agreement provides for joint work on improving chemical methods of enhanced oil recovery. It will lay the foundation…
Oilfield tech firm ChampionX has won a five-year contract with oil firm Vår Energi in Norway to deliver production specialty chemicals and management services to all Vår Energi assets.ChampionX provides chemistry solutions and equipment and…
Oil held above $75 a barrel on Thursday, within sight of a multi-week high hit a day earlier, supported by a big drop in U.S. crude inventories and surging European natural gas prices.U.S. crude inventories fell by 6.4 million barrels last week…
Malaysian state energy giant Petronas announced a flip to a second-quarter profit on Friday on the back of a recovery in prices and demand, but said it will be a 'long, drawn out process' before the industry returns to pre-pandemic levels.Petronas…
The 60m RAmpage 6000-ZM vessel Koc Al Zour, built by Uzmar Shipyard, will be the largest Robert Allan Ltd. design ever built in Turkey. She is designed and constructed as a modern double azimuth stern drive (ASD) and is the most capable multipurpose…
Norwegian energy company Equinor has agreed on a second joint industry project (JIP) with UK/Norway-based fishing, milling, and casing recovery provider Ardyne to further develop Ardyne's TITAN RS technology.Ardyne said the JIP would aim 'to…
KrisEnergy, an oil and gas company focused on Southeast Asia, said Friday it had filed a winding-up petition and that it would proceed to liquidation due to its inability to pay debts.KrisEnergy warned about this outcome back on March 31 when it said that the production from the Apsara field…
Despite projected demand recovery post-2020, the global offshore support vessel (OSV) market continues to face a utilization challenge, a joint research by Braemar ACM Shipbroking (Braemar) and Westwood Global Energy Group has shown.According to the press statement released Wednesday…
Petronas's first-quarter profit more than doubled on the back of recovering commodity prices, but the Malaysian state oil firm cautioned demand prospects hinged on vaccines preventing a resurgence of the COVID-19 pandemic.Petronas said on Monday it made a post-tax profit of 9…
Oilfield services firm TechnipFMC has won a 'significant' engineering, procurement, construction, and installation contract from Ithaca Energy for the recently sanctioned Captain Enhanced Oil Recovery (EOR) Project in the UK North Sea. For TechnipFMC…
Russia's largest oil producer Rosneft on Friday reported first-quarter net income of 149 billion roubles ($2 billion), buoyed by a recovery in oil prices, after a $2.1 billion loss a year earlier.Earnings at the group, which is around one-fifth owned by BP…
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