According to Rigzone’s pageview figures, some of the most popular downstream-related articles from the past week discussed topics ranging from an offshore attack to reassessments of the oil industry’s future. Keep reading for details.
Pirates Attack FPSO and Kidnap 9
Nine Nigerian nationals were kidnapped during a July 2 pirate attack on the FPSO Sendje Berge, BW Offshore reported. The company also noted that none of the personnel remaining onboard the vessel, located in the Gulf of Guinea, suffered physical injuries. The FPSO is contracted to Addax Petroleum. The ICC International Maritime Bureau has designated the Gulf of Guinea the world hotspot for piracy.
McDermott Nets Large Canada Contract
CB&I Storage Solutions, a unit of McDermott International Ltd., has won an engineering, procurement, fabrication and construction (EPFC) contract for 14 tanks in Burnaby, British Columbia, McDermott revealed. The contract recipient stated that Canadian workers will engineer and install the tanks, which are part of the Trans Mountain Expansion Project. It added the EPFC contract’s value ranges from $50 million to $250 million.
EIA Raises Oil Price Forecasts Again
In its Short Term Energy Outlook (STEO) for July, the U.S. Energy Information Administration (EIA) revised upward its forecasts for the Brent and West Texas Intermediate (WTI) crude oil benchmarks. As this staff-written article notes, EIA also raised its Brent and WTI projections last month. It points out that EIA bases the increases on expected global crude inventory declines.
Eni Says Pandemic is Reshaping Oil Industry
Eni SpA has added its voice to the growing chorus of oil companies that anticipate a lasting effect on the industry from the COVID-19 pandemic. On Monday, the firm reported that it now anticipates a $60 Brent crude price in 2023 real terms – a $10 decrease from its earlier estimate. Moreover, the Italy-based company stated that it might accelerate its long-term climate strategy. Other companies that have cut price forecasts include Royal Dutch Shell plc and BP plc.
To contact the author, email mveazey@rigzone.com.
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