Second contract let for hook-up services for Ichthys LNG project

Daewoo Shipbuilding & Marine Engineering Co. Ltd. (DSME) has let a contract to engineering firm Clough Ltd., Perth, for hook-up services on the Ichthys LNG project’s floating production, storage, and offloading facility. Source: News


Phillips 66 records sharp quarterly drop in earnings

Phillips 66 reported fourth-quarter 2015 earnings of $650 million, a steep decline from earnings of $1.58 billion in the third quarter due in large part to lower realized refining margins. Its adjusted earnings, excluding special items of $60 million, were $710 million. Source: News


InterOil’s Antelope-6 intersects top reservoir as expected

The Antelope-6 appraisal well on PRL 15 in Papua New Guinea has intersected the top reservoir at 2,076 m true vertical depth subsea (TVDSS), within range of the expectations of operator Total E&P PNG Ltd.’s reference case, reported license partner InterOil Corp. Source: News


Colombia’s Ecopetrol forms offshore E&P unit

Ecopetrol SA reported that its wholly owned subsidiary Hocol Petroleum Ltd. has formed a new company, Ecopetrol Costa Afuera Colombia SAS, which will be responsible for offshore exploration and production activities in Colombia. Currently, offshore E&P work is being carried out by Ecopetrol, both as operator and non-operator. Source: News


Chevron posts $588 million fourth-quarter loss

Chevron Corp. ended 2015 with the company’s first quarterly loss since 2002, posting full-year earnings of $4.6 billion, compared with earnings of $19.2 billion in 2014. Source: News