ABB recently won an order worth $18 million from Daewoo to supply energy efficient propulsion and electrical power systems for two new deep sea pipeline installation vessels that will build oil transport infrastructure off the coast of Brazil. The order was booked in the first quarter. South Korean shipyard Daewoo Shipbuilding and Marine Engineering (DSME) [...]
British oil company BP Plc has entered into two production sharing contracts (PSCs) with the Government of the Republic of Trinidad and Tobago for new deepwater exploration blocks, located 300km off the north-east coast of Trinidad. BP was awarded blocks 23(a) and TTDAA 14 in the 2010 / 2011 deepwater competitive bid round in July [...]
Spanish oil company Repsol says it has made the first step in taking legal action against Argentina for nationalizing its energy firm YPF. In a statement Tuesday, Repsol YPF SA said it had sent a letter to Argentine President Cristina Kirchner notifying her that it sees a controversy in the seizure of YPF which should [...]
The new directors Supply, Jose Carlos Cosenza, and Engineering, Technology and Materials, Richard Olm, participated on the morning of last Tuesday, which celebrated event, alongside the president of Petrobras, Maria Smith Foster, the choice of the newest members of the Executive Board. Held in the Company’s headquarters in Rio de Janeiro, the event was also [...]
Argentine lawmakers Thursday gave their final approval to a bill giving President Cristina Kirchner the green light to seize a 51% stake in the country’s largest oil and gas producer, YPF SA, from Spain’s Repsol YPF SA. The Lower House overwhelmingly approved the legislation with 207 of its 257 members voting in favor of nationalizing [...]
BG Group announced Wednesday what it described as another key project delivery milestone for 2012 with the first phase of development at the Margarita gas field in Bolivia now on-stream. “Margarita Phase I, delivered safely and to plan, will give BG Group additional net production of some 17,000 barrels of oil equivalent per day (boepd), [...]
Argentina has asked stock markets in New York and London to warn investors of its claim that five oil exploration companies are working illegally off the Falkland Islands, which Argentina contends were stolen by Britain more than a century ago. Foreign Minister Hector Timerman announced that he had sent letters to the directors of both [...]
Brazilian state-run energy giant Petroleo Brasileiro, or Petrobras, and its partners in a Santos Basin exploration block confirmed Tuesday a third pre-salt oil discovery. The oil find, made in the BM-S-8 block off the coasts of Rio de Janeiro and Sao Paulo states, was made in the Caracara well. The well was drilled in 2,027 [...]
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