Fossil Energy
Chevron posts massive $8.3 billion loss
U.S. oil major Chevron hit the red hard as it reported a massive loss of $8.3 billion, or almost $4.5 per diluted share, for the second quarter of 2020.
Another Asia Pacific deal for Polarcus
Marine seismic player Polarcus has received a letter of intent for 3D seismic data acquisition services in Asia Pacific. The project should commence in the third quarter 2020, subject to relevant approvals. According to the Oslo-listed firm, the acquisition campaign will have a duration of one month
ExxonMobil posts first consecutive quarterly losses since the mid-80s
Oil major ExxonMobil reported a back-to-back quarterly loss for the first time in over three and a half decades.
Reliance, JERA secure funds for gas-fired power project in Bangladesh
Reliance Bangladesh LNG & Power have secured funds for a gas-fired power generation project in Bangladesh.
U.S. offshore rig count at 12 for four weeks straight
The U.S. offshore rig count has remained flat for another week, making this the fourth week straight with 12 active units, according to a Friday report by Baker Hughes.
EnQuest to operate Bressay field as Equinor halves interest
Equinor has agreed to sell a 40.8125 per cent interest in and transfer operatorship of the Bressay oil field development on the UK continental shelf to EnQuest.
Red ink for ConocoPhillips on lower oil prices and volumes
ConocoPhillips recorded a $1 billion loss in the second quarter of this year due to lower oil prices and production curtailments amid COVID-19 impact.
Floatel to book nearly $400 million in impairment charges
Floatel International will book impairments of nearly $400 million for the second quarter of the year due to impairments of its vessels made amid challenging market situation.
Green light for Equinor to use Maersk rig on Martin Linge field
Norwegian oil major Equinor has received safety consent from the country’s offshore safety watchdog to use the Maersk Intrepid jack-up rig on the Martin Linge field offshore Norway.
Equinor comes up dry in Barents Sea well
Equinor has drilled a dry well near the Johan Castberg field in the Barents Sea offshore Norway.
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.
Petrobras renews Vallourec contract for provision of tubes and services
Tubular solutions provider Vallourec has been awarded an extension of its contracts to supply products and services to Brazil’s oil and gas giant Petrobras.
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