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Petrobras-led Libra Consortium awards TechnipFMC ‘large’ contract

OilNOW -
TechnipFMC is reporting that it has been awarded a large contract for Engineering, Procurement, Construction, and Installation (EPCI) through a competitive contracting process, by Petrobras, the leader and operator of the Libra Consortium. That consortium, which was formed by Petrobras,...
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Kuwait will not be able to pay salaries after November

OilNOW -
The oil-rich Gulf state of Kuwait will not have sufficient funds to cover public servants’ salaries after November, Finance Minister Barak Al-Sheetan warned parliament on Wednesday. According to Bloomberg, Al-Sheetan confirmed that his country’s government is withdrawing from its General Reserve...
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Democrats cut fossil-fuel promises from party platform in snub to climate activists

OilNOW -
(Bloomberg) --Day three of the Democratic National Convention on Wednesday featured meetings of the Black and Hispanic caucuses, the run-up to Senator Kamala Harris’s primetime speech, and delicate attempts by the Democratic National Committee and Joe Biden’s presidential campaign...
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ExxonMobil limiting oil production after encountering additional challenges with gas compressor

OilNOW -
Additional challenges with the gas handling system on the Liza Destiny FPSO has resulted in ExxonMobil taking a decision to limit oil production in order to curb flaring. Despite the challenges, the company says it is continuing to safely...
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ExxonMobil seeking ‘appropriate resolution’ as EPA threatens court action over fine

OilNOW -
Guyana’s Environmental Protection Agency (EPA) says it will be moving to the court soon as a result of ExxonMobil’s decision not to pay the fine imposed over hydraulic fluid spills that occurred earlier this year at the offshore Stabroek...
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Over 3 million bpd to be sanctioned in Guyana, Brazil even as industry takes a hit globally

OilNOW -
Oil projects off the coast of South America have lower breakeven prices and competitive payback times in comparison to similar projects in other parts of the world, which makes them more resilient in the current turbulent times, Norway-based Rystad...
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Complex crew change completed successfully for Liza Destiny FPSO

OilNOW -
UK-based ship management company, V.Ships, has supported SBM Offshore with a complex crew change for the Liza Destiny FPSO, relieving the last batch of 8 crew members. The Onsigners had arrived 2 weeks earlier, completed their quarantine ashore at Georgetown,...
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World’s largest offshore rig owner declares bankruptcy

OilNOW -
(Bloomberg) --Valaris Plc became the latest casualty of the global slump in oil prices, filing for bankruptcy Wednesday as the world’s largest offshore rig owner by fleet size seeks to restructure a roughly $7 billion debt load. The Chapter 11...
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U.S. considers expanding Venezuelan oil sanctions

OilNOW -
(Bloomberg) --The Trump administration is considering additional sanctions on Venezuela aimed at halting the remaining fuel transactions permitted with the South American nation, according to people familiar with the matter. The measures could target crude swaps with companies in Asia...
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The approach of Guyana’s new government in developing its multi-billion-barrel oil resources

OilNOW -
The newly installed government in Guyana says it is seeking to change the country’s approach to oil and gas by ensuring benefits to Guyanese from the offshore resources are maximized. Officials of the now two-week old administration have said...
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Suriname’s National Debt Chief resigns amid enhanced financial scrutiny of NDP government 

PARAMARIBO, SURINAME - Malty Dwarkasing has resigned as Suriname’s Administrator-General of the National Debt Office. Dwarkasing submitted her resignation...

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