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September 2017 Monthly Floating Production Systems Report

September 2017 Monthly Floating Production Systems Report

As described in the September WER report, evidence is accumulating that supply and demand in the oil market is rebalancing. Oil prices are firming as excess global crude inventory continues to be worked down by strong demand growth and curtailed supply. Brent crude is now trading in the mid-$50s and the futures market is predicting prices in the upper-$50s five years out. Also in the report are details…

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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

FPSOs: New Storage Tank Explosion Frequencies

October 19, 2017

The fatal explosion in the pump room on the Brazilian FPSO Cidade de São Mateus in February 2015…

Randgrid FSO Begins Gina Krog Field Contract

October 16, 2017

Teekay Offshore Partners announced the Randgrid FSO, which was converted from one…

Exmar FSRU Locks in For Longevity with EcoLock Protection

October 16, 2017

Subsea Industries has applied its hard-type Ecolock protective coating to the hull of a 26…

Energy News

Chevron Approves New Tech in North Sea

October 20, 2017

U.S. oil major Chevron has approved an investment to increase output from its Captain oilfield by using a new water-injection…

Aker Solutions' Shares Surge, Recovery in Sight

October 20, 2017

Shares of Norwegian oil services company Aker Solutions surged on Friday on higher than expected quarterly earnings, a better…

Loss for Oil Looms as Profit-Taking Weighs

October 20, 2017

Global refiners import U.S. oil to make up for OPEC cuts. Oil prices fell on Friday and were set for a weekly loss as investors…