Oil And Gas Giant News

Petronas CCS Ventures, a subsidiary of the Malaysian oil and gas giant Petronas has signed a term sheet with Mitsui O.S.K Lines, Ltd. (MOL) and MISC Berhad for the potential incorporation of a joint venture entity to invest in developing and monetising Liquefied Carbon Dioxide (LCO2) carriers for Carbon Capture and Storage (CCS) projects in Malaysia. The parties have agreed in principle on the key commercial terms to allow progress to the next stage."Building on the February 2022…

In a first, Brazilian oil company Petrobras last week reportedly sold the P-32 FPSO for sustainable recycling in Brazil, paving the way for the development of the local ship recycling industry.The sale of the floating unit P-32 reportedly took place on July 7, 2023. In a collaboration supervised by Petrobras, the steel company Gerdau S.A. and shipyard Ecovix have been entrusted with the responsible and environmentally sound recycling of the FPSO."This decision marks the first time a commercial vessel at the end of its lifecycle will be dismantled in Brazil.

Shell said on Friday it had loaded and shipped a cargo of liquefied natural gas (LNG) this week at its Prelude floating LNG facilityafter workers scaled-down industrial action at the site off northwestern Australia.The oil and gas giant slowed output at the 3.6-million tonne per year facility last week during a series of work stoppages by unions fighting for better pay and had warned that shipments would be disrupted for at least two weeks.

Malaysian oil and gas giant Petronas has awarded two Front End Engineering Design (FEED) contracts to a JGC Corporation-Samsung Heavy Industries consortium and to Saipem as part of an international dual FEED design competition for a nearshore liquefied natural gas (LNG) project in Sabah. The project, with a minimum capacity of 2.0 million tonnes per annum (MTPA) is a first of its kind in Malaysia, Petronas said.The FEED design competition is expected to take place over the course of 10 months with the Final Investment Decision (FID) planned for end of 2022.Subject to FID…

Claudio Descalzi, CEO of the Italian oil and gas giant Eni on Friday met with Filipe Nyusi, President of Mozambique, where Eni is working to develop giant offshore gas reserves using a floating LNG unit.Descalzi updated President Nyusi on the Eni-led Coral South Project, which will put in production Mozambique’s gas resources. "The project is on track and the Coral Sul FLNG, being finalized in South Korea, is set to become the world’s first ultra-deepwater FLNG and the first LNG producer in Mozambique…

Norwegian oil and gas giant Equinor last year said that the delivery of an FPSO, being built for the Johan Castberg field development in the Barents Sea, would be delayed after the company discovered issues with the weld quality of the hull of the FPSO under construction in Singapore.In an update on Monday, Equinor said that, following the initial findings, an in-house investigation team from Equinor had studied the deviation in quality of welding and inspection of the Johan Castberg FPSO…

Malaysian oil and gas giant Petronas said Monday that its PFLNG Dua floating LNG facility has recently produced its first LNG. This is the company's second FLNG Unit, and its first deepwater FLNG facility.The PFLNG Dua is located at the Rotan gas field, 140km off Kota Kinabalu, Sabah, Malaysia. "In collaboration with its upstream Production Sharing Contract partner, PTT Exploration and  Production, it has successfully completed the subsea commissioning phase and achieved its first has on 6 February 2021…

Malaysian oil and gas giant said Thursday it was investigating the cause behind the incident that happened earlier this week when the Dayang Topaz offshore vessel crashed into its platform at the Baram field, off Sarawak."A thorough assessment of the platform structures is being carried out. Petronas is committed to undertaking all the necessary measures to ensure that the platform structures remain safe and secure," the company said.According to Petronas, the company's investigations…

Oil and gas giant Shell has signed long-term charters for six newbuild liquefied natural gas (LNG) carriers.Shell has signed separate agreements for two LNG ships each with affiliates of Knutsen LNG, Korea Line Corporation, and ICBC Financial Leasing and institutional investors advised by J.P. Morgan Asset Management.The 174,000 cbm LNG ships will be built by Hyundai Heavy Industries and Hyundai Samho Heavy Industries. They will all be equipped with dual-fuel X-DF engines, boil-off management plants, air lubrication systems and shaft generators for auxiliary power.

Russian oil and gas giant Rosneft has signed a contract with India’s largest fuel retailer Indian Oil Corporation (IOC) for supply of 2 million tonne (MT) crude oil to India by end 2020.The Moscow-headquartered integrated energy company said in a press release that the oil will be shipped to the refiner via the port of Novorossiysk.The signing took place during the visit of the Chief Executive Officer of Rosneft Igor Sechin to New Delhi. During this visit, a working meeting was also held with Dharmendra Pradhan, Minister for Petroleum and Natural Gas of India.The parties discussed the ongoing joint projects of Rosneft and Indian companies…

Saudi Arabia's oil and gas giant Saudi Aramco announced that it will fully restore its production capacity by the end of September, in light of the Saturday's drone attacks that caused disruptions on around half of the country's oil capacity.Prince Abdulaziz Bin Salman, Minister of Energy, and HE Yasir Rumayyan, Chairman of Saudi Aramco, Mr. Nasser said: “The terror attacks on our plants at Abqaiq and Khurais were timed to create maximum damage to our facilities and operations. The rapid response and resilience demonstrated in the face of such adversity shows the Company’s preparedness to deal with threats aimed at sabotaging Aramco’s supply of energy to the world.”Commending the work of the emergency response teams consisting of firefighters…

Knutsen NYK Offshore Tankers AS (KNOT), a NYK Group company, has concluded a time-charter contract for a maximum 15-year period starting from 2021 for a shuttle tanker with French oil and gas giant Total for its Brazilian activities.The contract aims to use a 152,000 DWT Suezmax tanker equipped with a dynamic-positioning system built in China by COSCO (Zhoushan) Shipyard Co., Ltd. to shuttle crude oil produced in waters off Brazil.Knutsen NYK Offshore Tankers AS (KNOT) is a joint venture company between NYK (which  has a 50 percent share) and TS Shipping Invest AS (TSSI), the parent company of the Knutsen Group. The KNOT Group has a…

Johor Port Berhad has signed an agreement with Petronas LNG Ltd. to provide marine services for vessels that receive gassing up and cooling down (GUCD) services at PLL’s Regasification Terminal Pengerang.According to a press release from integrated multi-purpose port facility located at the southern tip of Peninsular Malaysia, the signing of the Marine Services Agreement by Johor Port Bhd and PPL enables the provisioning of marine services and attractive tariff for vessels that receive Gassing Up and Cooling Down (GUCD) services at PLL’s Regasification Terminal Pengerang (RGTP).The GUCD is a specialised service of bringing the storage tanks on liquefied natural gas carrier (LNG) vessels to a natural environment and cooling it down to cryogenic temperature (minus 160 degrees Celcius).

Dutch yard Amels has launched the 23rd model in its Amels 180 Limited Editions range, which has been named Papa.The 55-metre Amels 180 superyacht was the first of many new Amels superyachts nearing completion for their owners before the summer season begins.For the yacht’s crew, the launch is a milestone bringing the maiden voyage closer after many months working together with the Amels team. Captain Paul Bessant commented: “The teamwork here, the way that you feel so involved with everything, the relationship with the project managers. You feel very included, you feel that you really are part of the process from the beginning to the launch.”The launch uses the Roll-on / Float-off or ‘RoFlo’ method…

The British-Dutch oil and gas giant Royal Dutch Shell plc, commonly known as Shell, joins as equity partner with Air Liquide, Enerkem, Nouryon and the Port of Rotterdam, the largest port in Europe.The proposed project in Rotterdam will be the first of its kind in Europe to make valuable chemicals and bio-fuels out of non-recyclable waste materials, said a press release from the Netherlands-based seaport.A consortium of world-leading companies comprising Air Liquide, Nouryon (formerly AkzoNobel Specialty Chemicals), Enerkem and the Port of Rotterdam – has announced that Shell will join as a partner in Europe’s first advanced waste-to-chemicals facility in Rotterdam…

American petroleum and natural gas exploration and production company Anadarko, on behalf of the Mozambique Area 1 partners, signed a deal with Bharat Gas Resources (BGR) for the supply of liquefied natural gas (LNG) volumes from the Mozambique LNG development.The sale and purchase agreement (SPA) is for 1 million tonnes per annum (MTPA) for a term of 15 years. BGR is a wholly owned subsidiary of Government of India controlled  oil and gas giant Bharat Petroleum Corporation Ltd. (BPCL)."In addition to BPCL being an upstream equity co-venturer in the Mozambique LNG project, we are also pleased to have them as one of our foundation customers…

British multinational oil and gas company BP and Italian oil and gas giant ENI have signed a heads of agreement with the Ministry of Oil & Gas of Oman to explore Block 77 in central Oman.In addition, Eni has signed with the Ministry of Oil & Gas and with BP a Head of Agreement (HoA) that sets up the principles for the acquisition of the Exploration and Production rights of Block 77 onshore.Block 77, with a total area of almost 3,100 km2, is located in central Oman, 30 km east of the BP-operated Block 61 which contains the already-producing Khazzan gas project as well as the Ghazeer project, currently under development.Under the HoA,…

Russian oil and gas giant Gazprom is progressing a number of gas pipeline  stretching across the Black Sea projects with three major projects already 95.5 percent complete, the company claimed.The TurkStream will soon see the completion of its offshore section, bringing closer a consistent the supply of Russian gas to Turkey and its neighbours."The Company continues to pursue the extensive Eastern Gas Program and to build facilities associated with supplying gas to domestic consumers and to China. In particular, 127 producing gas wells were drilled at the Chayandinskoye field, the linchpin of the Yakutia gas production center. Also underway is the installation of the gas field’s core process equipment…

NGOs and trade unions in Brazil have criticized the state-run Petrobras’ end-of-life fleet management by dumping toxic ships on South Asian beaches. The Brazilian Confederação Nacional dos Trabalhadores em Transportes Aquaviários e Aéreos, na Pesca e nos Portos (CONTTMAF) trade union federation and its member SINDMAR (Sindicato Nacional dos Oficiais da Marinha Mercante) have recently criticized the shipbreaking practices of Transpetro, the oil and gas transportation subsidiary of the Brazilian petroleum corporation Petrobras, majority-owned by the State. In the last five years, more than twenty vessels owned by the oil and gas giant have been dismantled on the beaches of India and Pakistan, where shipbreaking activities endanger both workers and the environment.

South Korea’s shipbuilder Samsung Heavy Industries (SHI), the world’s third-largest shipbuilder,  has received a contract termination for three floating liquefied natural gas (FLNG) units from oil and gas giant Royal Dutch Shell Plc. The deal for the three vessels, worth a total of KRW 5.3 trillion (USD 4.6 billion), was signed between the companies in June 2015. The contract fromShellwas voided because of the current difficult market conditions, the Sungnam, South Korea-based company said in a regulatory filing. The three FLNGs were expected to join their owner by the end of November 2023. With the slump in the shipbuilding market post the global economic crisis SHI had set its sights on offshore accounting for 70% of orderbook in the long term.

China Petroleum and Chemical Corp (Sinopec) has taken delivery of the first LNG cargo at its new terminal at Beihai City in Guangxi Zhuang, with the arrival yesterday of the LNG carrier Methane Spirit, delivering a cargo from ConocoPhillips-operated Australia Pacific LNG (APLNG)project in Australia. The cargo was delivered onboard the 160,000 cbm Methane Spirit LNG carrier, Sinopec said. Located in Guangxi Zhuang autonomous region, the facility is the second of five LNG terminals planned by Sinopec as China works to raise the proportion of natural gas in its energy consumption and reduce greenhouse gas emissions. The first LNG facility in the Guangxi region. The company started construction on the LNG project in 2013 with 17.78 billion yuan ($2.8 bln) of first phase investment.

The world's top producers of liquefied natural gas (LNG) are investing in ship-fuelling operations, floating import terminals and power plants to open new markets and keep from drowning in a fuel surplus expected to last into the next decade. Companies such as Royal Dutch Shell, Total and Malaysia's Petroliam Nasional Bhd are scrambling to create demand as cheap coal and cleaner wind and solar power threaten to curb growth in the 250 million-tonnes-a-year LNG market. LNG suppliers have been put in a tough spot as demand from the world's top importers of the past few decades, Japan and South Korea, has declined due to slowing economies, more efficient use of power, and switches to coal and renewables.

At least 10 upstream oil and gas companies, cramped for cash in the oil downturn, must make coupon payments Friday, April 15, according to Thomson Reuters data.   Among them are oil and gas giant Chesapeake Energy Corp , which completed a debt swap last year, and Linn Energy LLC. Linn skipped interest payments due last month.   (Reporting by Jessica DiNapoli; Editing by Phil Berlowitz)