Fossil Energy
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
Total sells Gabon assets to Perenco
French oil major Total has decided to divest its portfolio of mature non-operated assets located offshore Gabon to Perenco.
Karoon CEO to retire after 16 years at the helm
Karoon Energy’s founder and long-standing CEO and Managing Director, Robert Hosking, is retiring from the company at the 2020 Annual General Meeting.
Apache in fresh oil discovery offshore Suriname
Apache has made what it says is a major oil discovery at the Kwaskwasi-1 well drilled offshore Suriname in Block 58.
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
Tullow delays Suriname well with rig hunt under way
Tullow Oil has postponed the drilling of its exploration well on a block located offshore Suriname. Meanwhile, Tullow is looking to hire a rig for the well.
Hess sinks deeper into the red
Hess sank deeper into the red during the second quarter of the year compared to the same period last year as its revenues dipped on lower oil and gas prices.
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