Upstream news
Petrobras to contract new FPSO for Búzios field
The platform will be the ninth unit to operate in the field, in the Santos Basin pre-salt.
Vår Energi awards DNV inspection services contract
The contract will cover inspection services to Vår Energi’s full portfolio of assets on the Norwegian Continental Shelf.
Valaris completes restructuring and emerges from Chapter 11
Valaris has eliminated US$7.1 billion of debt and secured a US$520 million capital injection.
SDX Energy begins Morocco drilling campaign
The first phase of the company's Morocco drilling campaign will consist of three appraisal/development wells, targeting an estimated total of 1.3 billion ft3 of P90/1.8 billion ft3 of P50, gross unrisked prospective recoverable resources in the Gharb Basin.
Maersk Training and Shell establish offshore training partnership for Gulf of Mexico
Maersk Training will deliver safety, pool survival, well control and process training in the region.
Neptune Energy acquires interest in Pegasus West discovery
Pegasus West in the UK Southern North Sea was discovered in 2014 and is currently operated by Spirit Energy.
Baker Hughes awarded subsea contract for Marlim and Voador field revitalisation project
Baker Hughes will supply Petrobras with up to five subsea production and injection manifold systems for the project.
Oil prices dip on risk reduction and profit on week's gains
Oil prices are closing the week trimming some gains, but the market trend is positive and the price direction is mostly risk reduction by traders, who are also profiting from earlier gains.
ExxonMobil records US$2.7 billion profit in 1Q21
Exxon recorded 1Q21 earnings of US$2.7 billion, compared with a loss of US$610 million in 1Q20.
Chevron releases 1Q21 results
The company reported adjusted earnings of US$1.7 billion (US$0.90 per share - diluted) in 1Q21 compared to adjusted earnings of US$2.5 billion (US$1.31 per share - diluted) in 1Q20.