Eni swings to quarterly loss as production falls by 10 pct
Italian oil and gas company Eni booked a loss in the third quarter of 2020 compared to a profit in 3Q 2019 while its hydrocarbons production declined by 10 per cent due to impacts of the Covid-19...
View ArticleChevron to cut 25 pct of Noble Energy workforce following merger
Oil major Chevron has decided to reduce Noble Energy’s workforce by 25 per cent following the recent merger between the two companies. In an exclusive report on Tuesday, Reuters said that Chevron...
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Equinor in two oil discoveries offshore Canada
Norwegian oil and gas company Equinor has made two oil discoveries offshore Newfoundland, Canada. Newfoundland map; Source: Equinor Equinor is the operator of the two wells with a 60 per cent interest...
View ArticleShell lifts dividend as profit narrows
Oil major and LNG giant Shell saw its third quarter 2020 earnings decrease when compared to the last year’s third quarter amid lower oil price environment but the oil major decided to increase its...
View ArticleTGS drops to quarterly loss
TGS has seen red numbers in the third-quarter 2020 with revenues down some 64 per cent amid challenging seismic market conditions. Norwegian seismic player reported net loss for the third quarter 2020...
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Hurricane Zeta shuts-in two-thirds of U.S. Gulf of Mexico oil production
Hurricane Zeta has forced oil and gas operators in the U.S. Gulf of Mexico to shut-in two-thirds of oil production in the region. In an update on Wednesday, the U.S. Bureau of Safety and Environmental...
View ArticlePetronas investigating fatal incident involving oil platform and offshore vessel
Malaysian oil and gas player Petronas has started investigating an incident involving its oil platform and an offshore vessel, which resulted in two fatalities. The incident occurred when the Dayang...
View ArticleEquinor books bigger loss as impairments bite
Norwegian oil and gas company Equinor saw its quarterly loss increase after being hit by impairments due to reduced future price assumptions. Adjusted earnings were $0.78 billion in the third quarter,...
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Polarcus swings to loss on major revenue drop
Courtesy: Polarcus Marine seismic player Polarcus has slipped into the red in Q3 2020 as revenue fell some 76 per cent compared to prior year due to the global slow-down on the back of the COVID-19...
View ArticleCenovus to cut up to a quarter of combined workforce with Husky after deal...
Canadian oil and gas player Cenovus Energy has decided to cut between 20 and 25 per cent of its workforce after the acquisition of Husky Energy. Cenovus said on Tuesday that the workforce cut would be...
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Red ink for ConocoPhillips
U.S. oil major ConocoPhillips recorded a loss in the third quarter of 2020 compared to a profit in the same period last year. ConocoPhillips CEO Ryan Lance ConocoPhillips on Thursday reported a...
View ArticleMAN to supply compressors for Equinor’s Bacalhau FPSO
Japanese supplier and operator of offshore floating platforms MODEC has commissioned MAN Energy Solutions to supply a total of five radial compressor and two screw compressor trains for the first...
View ArticleExxonMobil to slash 14,000 jobs as effects of pandemic hit oil demand
U.S. oil major ExxonMobil could cut its global workforce by about 15 per cent, as the Covid-19 pandemic batters energy demand and prices. ExxonMobil said on Thursday that the company, as other oil...
View ArticleHurricane shutdowns bite U.S. oil and gas output
As crews began returning to U.S. Gulf of Mexico offshore facilities on Thursday following Hurricane Zeta, companies are feeling this year’s repeated oil and gas production halts. Eight named storms...
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Petrobras win for Solstad subsea vessels
Courtesy: Solstad Offshore Solstad Offshore said that Petrobras has extended the current contract of RSV Far Saga for a period of one year and picked up another vessel for operations in Brazil....
View ArticleU.S. offshore rig count stuck at 13 units
The number of offshore rigs in the U.S. remained steady last week but dropped nine units year over year, according to a Friday report by Baker Hughes. Baker Hughes Rig Count: U.S. +9 to 296 rigs U.S....
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Pacific Drilling files for Chapter 11 to eliminate $1.1 billion of debt
Offshore drilling contractor Pacific Drilling has filed for Chapter 11 bankruptcy to eliminate $1.1 billion of bond debt amid significant disruption in the offshore drilling market caused by the...
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Equinor makes minor gas discovery near Maria field
Norwegian oil major Equinor has made a minor gas discovery near the Maria field in the Norwegian Sea. The Norwegian Petroleum Directorate (NPD) said on Monday that Equinor, operator of production...
View ArticleBW Energy revealed as buyer of two Borr rigs as Gabon development plan gets...
BW Energy has concluded on an alternative development plan for the Hibiscus/Ruche satellite field in the Dussafu license offshore Gabon, using a converted jack-up rig to reduce investments and time to...
View ArticleLamprell scores engineering deal with IMI
UAE-based offshore oil rig builder Lamprell has been awarded a medium-sized contract by International Maritime Industries (IMI) for engineering design services. Lamprell said on Monday that it would...
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