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July 2017 Monthly Floating Production Systems Report

July 2017 Monthly Floating Production Systems Report

As described in the July WER report, oil prices continue to be constrained in the upper $40s, reflecting the dampening effect of the large crude inventory overhanging the market. But crude demand growth is now outpacing supply growth and there are increasingly clear signs that crude inventory is declining. Overall, it seems clear that rebalancing of the global crude market is underway – though the pace is slower than the market earlier anticipated.

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The State of U.S. Shipbuilding

Video: The State of U.S. Shipbuilding

Jim McCaul, founder of International Maritime Associates, discusses the state of U.S. shipbuilding, from naval to commercial.

Floating Production News

Latest Gulf of Mexico Auction Signals Offshore Return

August 19, 2017

Major oil producers pushed up high bids at a Gulf of Mexico offshore auction to $121…

Golar LNG Partners in FLNG Hilli Episeyo Stake Acquisition

August 19, 2017

Golar LNG Partners announced that it has entered into a purchase and sale for the…

Damen Shiprepair Rotterdam Completes the Refit of Petrojarl 1

August 19, 2017

On the August 18, 2017, Damen Shiprepair Rotterdam (DSR) has delivered the FPSO Petrojarl…

Energy News

Total: Maersk Deal to Boost Earnings

August 21, 2017

French oil major Total said on Monday that its acquisition of Maersk Oil for $7.45 billion would boost its earnings and cash flow…

Oil Dips as Rally Encourages Profit-Taking

August 21, 2017

Oil prices fell on Monday as a rally at the end of last week prompted investors to close positions at a higher price, against…

Rosneft, Trafigura Purchase Essar Oil Refinery

August 21, 2017

Rosneft to double Vadinar refinery capacity; may supply Venezuelan oil to Vadinar refinery. Russian oil major Rosneft, oil…