+1(833) 396-4204 info@riglynx.com
Menu

Month: July 2021

Saipem lines up new work for the fleet

July 30, 2021
| Archives

According to Esgian, an Oslo based company that provides analytical tools for the energy industry, noted that Saipem has confirmed various new contract awards and extensions for its offshore rig fleet. The newly leased drillship Samsung Santorini, due to join the fleet in November 2021, has been awarded a contract with Eni for work in the US

Read More...

Exxon announces biggest profit in over a year

July 30, 2021
| Archives

Exxon Mobil on Friday posted its biggest quarterly profit in more than a year that also sailed past analysts’ estimates, boosted by higher oil prices and record earnings at its chemicals business. The upbeat results following a contested board fight over the company’s direction quelled some investor concerns and highlighted how oil producers are taking advantage of a

Read More...

Shell Q2 profits at a two year high

July 30, 2021
| Archives

Shell has announced its second quarter 2021 results Royal Dutch Shell Chief Executive Officer, Ben van Beurden, said: 'We are stepping up our shareholder distributions today, increasing dividends and starting share buybacks, while we continue to invest for the future of energy. The quality of Shell’s operational and financial delivery and strengthened balance sheet have given the Board confidence to rebase the dividend per share from

Read More...

Sonangol wins arbitration

July 30, 2021
| Archives

As a result of the International Arbitration Court's decision, Sonangol will be reinstated as sole shareholder (100%) of Esperaza Holdings BV, the Netherlands-based offshore company The 40% of the disputed shares of Esperaza Holdings BV have a current market value of around US$700mn. The litigation concerned the 40% stake held by Exem allegedly transferred by Sonangol EP in Esperaza Holdings BV,

Read More...

Angola proposes fuel export tax increase of 230%

July 30, 2021
| Archives

The Angolan government is considering updating the applicable tax on fuel exports. Secretary of State for Oil and Gas, José Alexandre Barroso’s proposal to increase the tax rate to 230% was submitted to parliament for approval under the presidential decree. In Angola, Africa’s third-leading oil producer, domestic fuel prices are lower compared to other markets on the continent;

Read More...

Total announces a fourth discovery offshore Suriname

July 29, 2021
| Archives

Total and Apache Corporation have made a new significant oil and gas discovery at the Keskesi East-1 well, in Block 58 off the coast of Suriname. This follows previous discoveries at Maka Central, Sapakara West and Kwaskwasi. The well was drilled by a water depth of about 725 meters and encountered a total of 63 meters net pay

Read More...

4 years to return to pre-Covid levels says Hess

July 29, 2021
| Archives

U.S. oil output could take more than four years to reach pre-pandemic levels, oil producer Hess Corp said on Wednesday, sticking to its spending plan despite rising demand to focus on shareholders returns over growth. U.S. crude prices have jumped over 50% this year but in a departure from previous boom cycles, shale producers have hunkered down to

Read More...

With weak offshore drilling sector fundamentals integration is ripe MSI reports

July 29, 2021
| Archives

Maritime Strategies International recently reported that the offshore drilling sector is ripe for integration as it challenges the management of oversupplied and competitive markets, coupled with over-leverage balance sheets, weak liquidity and stressful finance. Said that. Latest MODU [Mobile Offshore Drilling Units] MSI’s Market Report analyzes current sector downturns and states that OFS supply chains need to emulate

Read More...

FAR to kick off Bambo campaign offshore Gambia Q4

July 29, 2021
| Archives

Australian independent explorer FAR will move ahead with drilling offshore The Gambia by the end of October, amid plans to distribute excess cash back to its shareholders. Located in shallow waters near the Senegalese border, the Bambo-1 well will test three prospects that hold an estimated 1.12 billion barrels of recoverable reserves. As the operator, FAR will contribute

Read More...