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Strait of Hormuz closure: Tight LNG markets, oil prices could soar to $200

With more than 80 million tonnes per annum (mtpa) of liquefied natural gas (LNG) supply, representing around 20% of global supply, being inaccessible to global markets, the Strait of Hormuz closure has the potential to spark the biggest energy supply shock in decades, according to Wood Mackenzie, an energy intelligence group, which emphasizes that oil prices could reach $200 a barrel (bbl) in a worst-case scenario, as over 11 million barrels per day (b/d) of Gulf crude and condensate supply continues to be curtailed. The post Strait of Hormuz closure: Tight LNG markets, oil prices could soar to $200 appeared first on Offshore Energy.

More work with Petrobras on Baker Hughes’ oil & gas scope in Brazilian waters

U.S.-headquartered energy technology giant Baker Hughes has secured a contract extension with Brazil’s state-owned energy giant Petrobras for the expansion of integrated well construction operations across the South American country’s pre-salt offshore oil and gas fields. The post More work with Petrobras on Baker Hughes’ oil & gas scope in Brazilian waters appeared first on Offshore Energy.

ABS endorses SBM Offshore’s Shell-backed FPSO deepwater cooling tech

Netherlands-based SBM Offshore, a provider of the design, construction, installation, and operation of offshore floating facilities, has received the green light for its seawater intake riser (SWIR) technology from American Bureau of Shipping (ABS), a classification society. The post ABS endorses SBM Offshore’s Shell-backed FPSO deepwater cooling tech appeared first on Offshore Energy.

ABL finds work on ExxonMobil’s huge Australian offshore decom campaign

ABL, part of Oslo-listed global consultancy group ABL Group, has been hired to support Esso Australia Resources (Esso), a subsidiary of U.S.-headquartered energy giant ExxonMobil, during an offshore removal campaign of multiple platforms, hundreds of wells, and subsea infrastructure off the coast of Australia. This program is described as the country’s largest offshore decommissioning campaign. The post ABL finds work on ExxonMobil’s huge Australian offshore decom campaign appeared first on Offshore Energy.