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August 2017 Monthly Floating Production Systems Report

August 2017 Monthly Floating Production Systems Report

As described in the August report, oil prices have returned to the low-$50s as global crude inventory continues to be worked down. Increasing oil demand and curtailed supply has been trimming the excess crude stock that built up in late 2016/early 2007 -- giving support to near term crude pricing. Meanwhile two major FPSO contractors have expressed their confidence in the future FPSO market – one by ordering a speculative FPSO hull…

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There Are Signs of Hope for the Energy Industry

Video: There Are Signs of Hope for the Energy Industry

Jim McCaul, founder of International Maritime Associates, discusses the rebounding energy sector and the state of floating production.

Floating Production News

Prelude FLNG Enters into Lloyd’s Register Class

August 23, 2017

Shell’s floating liquefied natural gas (FLNG) facility Prelude has officially entered…

Chevron CEO John Watson to Step Down

August 22, 2017

Chevron Corp Chief Executive John Watson is stepping down from his post atop the…

Former CEO of Brazil's Petrobras Charged with Corruption

August 22, 2017

Brazilian prosecutors on Tuesday charged the former chief executive officer of state…

Energy News

Rosneft Awards Tender to Sell Venezuelan Heavy Oil

August 23, 2017

Russian oil company Rosneft has awarded a group of refining and trading firms including U.S. companies a tender to sell a…

Alberta Sees Lower Revenues on Weak Oil Prices

August 23, 2017

Canada's largest crude-producing province Alberta downgraded its 2017-18 revenue forecast on Wednesday because of lower-than…

Sistema to Pay Rosneft $2.3 Bln in Damages

August 23, 2017

A Russian court ruled on Wednesday that conglomerate Sistema should pay more than 136 billion roubles ($2.3 billion) to oil…