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2023 Annual Review and Forecast Report

2023 Annual Review and Forecast Report

There has been a strong recovery in the deepwater sector and the business environment is much different now than two years ago. Crude oil prices have rebounded to the $80s+ and upstream operators are reporting record profits. They are still holding back on major increases in capital spending. But this is changing. Oil prices have risen to levels that support investment in new facilities and capex budgets are slowly expanding. The profit opportunities are too great to pass up.

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Floating Production News

Petrobras 'Pre-salt' Geologist Tapped to Head E&P

January 30, 2023

The new Chief Executive of Brazil's Petrobras , Jean Paul Prates, has picked geologist…

Yinson's FPSO Contract in Nigeria Ends after 16 Years as Client Opts to Buy the Floater

January 12, 2023

The Malaysian FPSO leasing company Yinson has completed the 16-year contract for…

German Green Group Seeks to Cut Wilhelmshaven FSRU License by 10 Years

January 11, 2023

A German environmental group has lodged a complaint calling for the operating licence…

Energy News

Thinking Holistically about Hydrogen’s Place in the Energy Transition

February 3, 2023

As energy operators across the world come to terms with the continuously changing nature of the energy transition, the need…

Thinking Holistically About Hydrogen’s Place in the Energy Transition

February 2, 2023

As energy operators across the world come to terms with the continuously changing nature of the energy transition, the need…

Exxon Banks Record $56B Profit in '22

January 31, 2023

Exxon Mobil Corp posted a $56 billion net profit for 2022, the company said on Tuesday, taking home about $6.3 million per hour last year…