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Repsol News

17 Mar 2024

Venture Global LNG to Buy Fleet of LNG Vessels

© Andriy Sharpilo / Adobe Stock

Venture Global LNG said on Sunday it would acquire a fleet of nine liquefied natural gas (LNG) transport vessels, expanding its ability to sell and ship its own cargoes.Venture Global LNG has exported hundreds of cargoes since it started liquefying gas for export in 2022 from the first of its three planned facilities in Louisiana. The vessels it used were owned by other companies and leased.The nine vessels in Venture Global's future fleet will be built in South Korea with the first to be delivered later this year…

20 Dec 2023

US Gulf of Mexico oil Auction is Largest Since 2015

© arsenypopel / Adobe Stock

A Biden administration auction of Gulf of Mexico drilling rights raised $382 million on Wednesday as oil companies claimed offshore acreage for what is set to be the last time until 2025.The auction total was the highest of any federal offshore oil and gas lease sale since 2015, according to a Reuters tally.Shell, Hess, Anadarko, BP, Chevron, Repsol and Equinor were among the 26 companies that participated in the sale.Anadarko had the auction's highest bid of more than $25 million for a block in the deepwater Mississippi Canyon area, according to an online broadcast of the sale by the U.S.

15 Aug 2023

BP Backs Green Hydrogen Start-Up

Source: Advanced Ionics

BP has invested in a start-up company developing technology seeking to use vapour from heavy industry to sharply reduce the production costs of zero-carbon hydrogen.BP Ventures, the British energy giant's venture capital arm, was among several investors in a $12.5 million Series A financing in U.S.-based Advanced Ionics, the companies said on Tuesday.Other investors include Mitsubishi Heavy Industries, Clean Energy Ventures and Gatemore Capital Management.Green hydrogen, produced by splitting water through electrolysis using renewable energy…

03 Aug 2023

GEOS Secures Two-month Contract Extension for PSV in Norway

Norwegian offshore vessel owner Golden Energy Offshore Services AS (GEOS) has secured a contract extension with Repsol for its Energy Swan platform supply vessel in Norway.The contract is a direct continuation of the current charter contract from 2021.The large PSV Energy Swan was chartered in 2021 for a firm period of one year, plus another optional year.Since the expiration of the firm period, the two companies have agreed to several extensions, with this latest being for two more months, until November  1, 2023. Financial details of the latest extension were not disclosed.The are no more options available for Repsol Norge AS after November 1, 2023. The 2005-built Energy Swan is a ST 216 design large PSV / pipe carrier.

01 Aug 2023

BP to Defend its Rights in Venture Global LNG Dispute

© Igor Groshev / Adobe Stock

BP will defend its rights "to the absolute fullest" in an arbitration case against U.S. exporter Venture Global LNG over failing to supply contracted cargoes, Chief Executive Officer Bernard Looney said on Tuesday.Oil companies Shell SHEL.L and have separately filed for arbitration against Venture Global LNG over failing to supply contracted cargoes, even as it sold to non-contract customers while prices were soaring."You can expect us to defend our legal rights to the absolute fullest…

12 Jul 2023

Shell, BP Pursue Arbitration Claims Against Venture Global LNG

© Björn Wylezich / Adobe Stock

Top LNG traders Shell and BP have separately filed for arbitration against U.S. exporter Venture Global LNG for failing to supply contracted cargoes, even as it sold to non-contract customers as prices soared, four people familiar with the matter said.A Venture Global LNG spokesperson did not comment on the Shell and BP claims. Last month, the company said it was in full compliance with terms of its long-term contracts and cited a need for extensive commissioning of its modular…

30 May 2023

Repsol Extends Energy Swan PSV Charter

Credit: Golden Energy Offshore Services

Norwegian offshore vessel operator Golden Energy Offshore Services AS (GEOS) has secured a contract extension with Repsol for its Enegy Swan platform supply vessel.The contract extension is in direct continuation of the current charter contract which started in 2021 when the large platform supplier was chartered. The extension kicks off in early July and will run until September 1, 2023.Repsol Norge will have an option to extend the charter further.The 2005-built Energy Swan vessel is of ST 216 design and is a large PSV / pipe carrier.

10 May 2023

MODEC to Deliver Highly Complex FPSO for Equinor's $9B Project Offshore Brazil

Credit: MODEC

Japanese FPSO supplier MODEC has won a contract with Equinor to supply an FPSO vessel for the BM-C-33 block of the Campos Basin offshore Brazil. The order comes just days after Equinor and its partners Repsol Sinopec Brasil, and Petrobras took the $9 billion investment decision to develop the BM-C-33 project in Brazil. Located in the Campos Basin, BM-C-33 comprises three different pre-salt discoveries – Pão de Açúcar, Gávea and Seat – containing natural gas and oil/condensate…

30 Mar 2023

Valero Seeks US Approval to Import Venezuelan Oil

© Tada Images / Adobe Stock

Valero Energy Corp, the second-largest U.S. oil refiner, is seeking Washington's permission to import Venezuelan crude, according to four people close to the matter, hoping for a repeat of the approval granted to Chevron Corp in November after a four-year ban.President Joe Biden's administration has eased some U.S. sanctions on the OPEC-member nation in an effort to encourage a political dialogue with the country's opposition. That has led to further pressure from U.S., European and Asian energy firms…

08 Mar 2023

US Plans No Wider Easing of Sanctions on Venezuela, Official Says

©Lukasz Z/AdobeStock

The U.S. government is not planning a systematic easing of sanctions on Venezuela after an initial round allowed partners of state-run oil firm PDVSA to resume taking oil for past debts, a State Department official said.In November, Washington issued a six-month license allowing Chevron Corp. to expand operations and export Venezuelan oil to the United States. Eni and Repsol also began taking Venezuelan crude for debt with U.S. approvals, This year, Trinidad and Tobago received a U.S. nod to jointly development an offshore natural gas field with Venezuela. Those moves by U.S.

26 Feb 2023

Eni-chartered Cargo of Venezuelan Crude Departs for Europe

A 655,000-barrel cargo of Venezuelan heavy crude chartered by a unit of Italy's Eni SpA departed on Friday from a port operated by state-run PDVSA, shipping data showed, marking Venezuela's first export to Europe after a three-month pause.Eni and Spain's Repsol SA last year received U.S. authorizations to take Venezuelan oil to Europe as compensation for outstanding debt in an easing of American sanctions on Venezuela's oil industry.But the shipments were allocated intermittently last year. And so far this year most Venezuelan crude exports have been halted during a sweeping audit by new PDVSA boss Pedro Tellechea, who revised contract terms to avoid a series of failed payments by some customers.The Greece-flagged Aframax tanker Minerva Alexandra…

09 Feb 2023

Venezuela's PDVSA Allocates Heavy Crude Cargo to Italy's Eni

©JosIsaac/AdobeStock

Venezuela's PDVSA has allocated an oil cargo to a unit of Eni for a February loading, the first to the Italian firm following a contract suspension this year by new management at the state-run company, people familiar with the matter said. Eni and Spanish oil firm Repsol in May last year received authorizations from the U.S. State Department to take the crude to Europe for outstanding Venezuela debt and dividends, an exception to U.S. oil sanctions on Venezuela. The cargo allocations…

17 Jan 2023

Venezuela's PDVSA Freezes Most Oil Exports for Contract Reviews

© poonsit / Adobe Stock

The new head of Venezuela's state oil company PDVSA has suspended most oil export contracts while his team reviews them in a move to avoid payment defaults, according to an internal document seen by Reuters and people familiar with the matter.Since U.S. trading sanctions were first imposed on PDVSA in 2019, the company has increasingly resorted to little known middlemen to allocate its oil exports, leading to big price discounts and problems with payments affecting its cashflow.The freeze order is leading to port delays…

03 Jan 2023

Chevron to Send 500,000-barrel Cargo of Venezuelan Oil to Its Pascagoula Refinery

© David David Potter / Adobe Stock

U.S. oil producer Chevron Corp plans to export this month its first cargo of Venezuelan crude to its Pascagoula, Mississippi refinery following a U.S. license granted last year, according to shipping documents seen by Reuters on Tuesday.The 500,000-barrel cargo of Hamaca heavy crude, to be loaded at state-run PDVSA's Jose port, comes from the Petropiar oil joint venture operated by both companies.As of Tuesday, the tanker scheduled to carry the shipment, the Bahamas-flagged Caribbean Voyager…

09 Sep 2022

Gallery: Allseas' Pioneering Spirit Vessel Removes 11,000t Gyda Offshore Jacket

©Allseas

Offshore installation and decommissioning contractor Allseas said Tuesday it had successfully removed and transported to shore Repsol Norge’s 30,000-tonne Gyda platform "in a matter of days."According to the company, Allseas' Pioneering Spirit, the world's largest offshore construction ship, delivered Gyda platform’s 11,000-tonne jacket to Aker Solutions’ disposal yard in Stord, Norway, less than 48 hours after removing it from the southern Norwegian Sea. "The latest job for the vessel’s new jacket lift technology is one of the heaviest ever but well within the system’s 20…

24 May 2022

US Prepares Renewal of Chevron's Venezuela License Without Broader Terms

© poonsit / Adobe Stock

The U.S. Treasury Department is getting ready to renew in the coming days Chevron Corp's license to operate in Venezuela, but likely without the greatly expanded terms the U.S. oil major sought, four people close to the talks said.The last U.S. energy producer in Venezuela asked President Joe Biden's government in March for a license that would allow it a greater say in its joint ventures with Venezuela's state-run PDVSA, a first step to reviving output and controlling where oil is sent.In a reversal of earlier hopes for a broadly expanded authorization…

06 May 2022

Guyana in 'No Rush' to Draft New Offshore Oil Production Sharing Agreement

An FPSO offshore Guyana - (File photo: Hess Corp.)

Guyana is in "no rush" to draft a new production sharing agreement (PSA) for offshore oil development, its Natural Resources minister told Reuters, reversing a year-long drive to devise new rules for future output.The government of South America's newest crude oil producer said in 2021 it was planning a new agreement to revamp terms and boost royalties for future oil and gas projects. The proposed document was expected to improve terms for Guyana of a 2016 contract with Exxon Mobil and its partners for the prolific Stabroek block.But the tiny nation…

18 Apr 2022

UK North Sea Field Owners Agree to Keep Exporting Oil to Flotta Terminal

Flotta Oil Terminal - Credit: Chris/Geograph.co.uk - CC BY-SA 2.0

Oil and gas company Repsol Sinopec Resources UK Limited said Monday that owners of  Golden Eagle, Piper, and Claymore fields, located in the North Sea northeast of Aberdeen, have executed new agreements reaffirming their commitment to export produced oil to the Flotta Terminal until the end of field life in the 2030s."This commitment to support the longevity of the terminal underpins a variety of growth opportunities in the wider area, including renewed drilling and several third party tie-backs.

13 Apr 2022

Edward Heerema – Dutch Courage with Single-minded Focus

“A new challenge is the installation of big windmills. Big windmills today are 13 MW, 14MW. They are going up to 15 MW and people talk about 20 MW, so we have developed a system that can handle up to 20 MW. By weight it’s nothing, but in terms of technical challenge, it’s very interesting because the windmills are very big, the blades are extreme sizes and installation is at enormous heights. We think Pioneering Spirit is a big vessel, but if you take the biggest windmill of the future, she is t

Edward Heerema is founder and president of Allseas, which brought the world’s largest construction vessel, Pioneering Spirit, to the market. The company, which also brought innovation to the pipelay sector, has added its latest trick to Pioneering Spirit – its jacket lift system. But Allseas is also targeting deepsea mining and has its sights on the offshore wind market. Elaine Maslin caught up with Edward Heerema to find out more.The first time I met Edward Heerema was at the company’s offices in Delft, in the Netherlands.

11 Feb 2022

Ship Emissions: MIT Takes the Lead Toward Net Zero

“Even if you’re not going to put hydrogen on ships, hydrogen may be involved in producing that synthetic fuel. We have a number of projects underway that are tackling the question of hydrogen, including a project we’re starting now looking at pathways towards gigaton scale, low carbon hydrogen production.”
Randall Field, Executive Director, MITEI Future Energy Systems Center Photo courtesy MIT/Randall Field

The MIT Energy Initiative (MITEI) launched a new research consortium—the Future Energy Systems Center—to address the climate crisis and the role energy systems can play in solving it. Randall Field, Executive Director, discusses current research and the challenges ahead for the maritime sector.The reputation of the Massachusetts Institute of Technology (MIT) is such that it can take mammoth issues — such as driving the world to net zero — head-on, and suddenly make the impossible…

01 Feb 2022

Repsol's Offshore Oil Unloading Ops Banned in Peru after Oil Spill

Credit: Peru's Environment Ministry

Peru Environment Minister Ruben Ramirez said on Monday the government will temporarily suspend Repsol's offshore oil unloading operations following a spill of over 10,000 barrels that has caused widespread environmental damage.Ramirez said the suspension of operations would last until the company "can offer technical guarantees that another spill will not happen.""In addition, (the company) has not shown clear cleaning actions."Repsol said in a statement it considered the decision…

26 Jan 2022

Peru Investigating Possibility of Second Repsol Offshore Oil Spill

Illustration Credit:balakleypb/AdobeStock

Peru's environmental regulatory agency said on Wednesday it was investigating the possibility that Spanish energy company Repsol SA was responsible for a second oil spill in as many weeks off the country's central Pacific coast.The suspected new spill may have occurred on Tuesday as Repsol's La Pampilla refinery was withdrawing oil reception and dispatch equipment as part of an investigation into what caused the initial spill blamed on unusually strong waves triggered by a volcanic eruption in Tonga this month, according to the Agency for Environmental Assessment and Enforcement (OEFA).The age

21 Jan 2022

Peru Oil Spill Declared an Environmental Emergency

(Photo: Directorate of Captaincies and Coast Guards of Peru)

Peruvian President Pedro Castillo declared an environmental emergency on Thursday as clean-up teams struggled to contain a huge oil spill at the country's biggest refinery, after rogue waves rocked a ship unloading crude there.The spill, blamed on unusual swells caused by a volcanic eruption thousands of miles away in Tonga on Sunday, has dirtied waters and beaches along Peru's Pacific coast, with dead birds and seals washing up on shore."We are at a critical moment in environmental matters," said Castillo, before signing the emergency decree on one of the beaches hit by the spill.

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