Fossil Energy
UK boasts improved production efficiency for seven years in a row
Production efficiency on the UK Continental Shelf has improved for the seventh consecutive year and for 2019 reached 80 per cent.
Eni slips to loss, cuts capex
Eni went from a profit in the second quarter of 2019 to a loss in the same period this year hit by the combined effects of the coronavirus pandemic and the oil price crisis.
Plexus seals POS-GRIP deal with Spirit Energy
Plexus has secured a purchase order for a POS-GRIP surface production wellhead system from Spirit Energy. The order from Spirit Energy includes Plexus’ POS-GRIP 5,000psi leak proof “HG” metal to metal sealing surface production wellhead and associated spares and equipment for a new gas well in the U
Shell books $18 billion loss on huge impairment charges
Shell booked a loss of $18.1 billion in the second quarter of 2020 due to huge impairments as it cut its price outlook in response to the coronavirus pandemic and the oil price crisis.
Total logs profit despite COVID-19 effects
Total reported a 96 per cent drop in adjusted profit for the second quarter of 2020 due to lower prices and COVID-19 effects.
TechnipFMC quarterly earnings dip
TechnipFMC has reported second-quarter 2020 profit of $12 million or 3 cents per diluted share against $97 million profit same time last year. Adjusted diluted earnings per share, excluding charges and credits, was 9 cents. Revenues for the quarter were down 8 per cent at $3.16 billion, form $3.43 b
Shell’s second-quarter LNG sales drop
The Hague-based LNG giant Shell logged a 7 percent decline in its liquefied natural gas sales during the second quarter of this year as it reported a huge quarterly loss. Shell announced on Thursday a loss of $18.1 billion for the second quarter due to the effects related to the Covid-19 pandemic. T
Equinor gains drilling permit for wildcat wells in Norwegian Sea
The Norwegian Petroleum Directorate has granted Equinor a drilling permit for wells located in the Norwegian Sea.
Ampelmann to support Ithaca’s project in North Sea
Ampelmann has secured a contract with Olympic Shipping to support topside commissioning work on Ithaca Energy’s FPF-1 offshore semi-submersible in the North Sea.
Spirit Energy gives another three years of life to North Sea gas field
Spirit Energy has given another three years of life with an additional £13 million ($16.7Mn) investment to its York gas field in the Southern North Sea.
NEO Energy taps Petrofac for well services in UK
Oilfield services provider Petrofac has been awarded a two-year contract with NEO Energy, which doubled Petrofac’s UK portfolio.
Subsea 7 sinks to $922 million loss
Subsea 7 has booked a major loss in Q2 2020 on restructuring and impairment charges as well as activity drop in the SURF and Conventional business units. The engineering and construction specialist recognised quarterly net loss of $922 million, against profit of $24 million in Q2 2019. Diluted loss
Magseis Fairfield and CGG secure additional pre-funding for Cornerstone survey
Magseis Fairfield has together with its partner, CGG, secured pre-funding from an oil major for the extension of the ocean bottom node (OBN) Cornerstone multi-client survey in the North Sea. This both confirms the industry interest in the area and reduces Magseis Fairfield’s relative exposure in the
Maersk Drilling invests in new tech concept to help develop carbon-neutral drilling
Maersk Drilling has entered an agreement to invest $1 million in Clean Energy Systems to help develop a new technology called Carbon-Negative Energy.