Oilfield services provider Baker Hughes will be taking a $15 billion non-cash goodwill impairment charge in its first quarter 2020 in response to the significant decline in oil and gas prices and the COVID-19 pandemic.
President and chief executive officer (CEO) of U.S. oil and gas company Murphy Oil has resumed his responsibilities at the company after recovering from what was presumed to be COVID-19.
After four days of negotiations OPEC, Russia, and allies have agreed on record production cuts to save the oil industry amid a major industry crisis exacerbated by the coronavirus pandemic.
Tender rig specialist Energy Drilling has completed the heavy lifting of the drilling equipment set at the Kerisi platform in the Natuna Sea.
OMV has decided to postpone its drilling plans offshore New Zealand and Greenpeace is claiming a win, hoping this would mean the end of OMV’s drilling operations in the country.
OPEC, Russia, and allies are on the verge of ending the oil price war in an effort to save the oil industry which, in addition to the oil price war consequences, suffered even more as the coronavirus pandemic further curbed the oil demand, creating a whirlwind of adverse effects. However, the allies
Russia’s Lukoil has moved on to the next stage of facilities construction for the Valery Grayfer field with the launch of a jacket for the living quarters platform from a yard to the Caspian Sea.
The oil price war and the coronavirus pandemic are already taking their toll on the oil and gas services market, with offshore drilling contractors among the most affected segments. One of the major drillers, Noble Corporation, has seen its contracts shortened, rigs stacked and put on standby, and d
At least nine of the world’s top planned exploration wells for 2020 are at risk of being suspended as a result of the combined effect on oil and gas activities of the Covid-19 virus and the oil price war, a Rystad Energy impact analysis shows.
An independent competent persons report for Energean’s Karish North field, located offshore Israel, has revealed a significant uplift to the company’s previous best estimate of the field’s volumes and submitted an addendum to the field development plan.
Dallas-based Kosmos Energy noted that the Coronavirus impact on time-critical workstreams resulted in the delay of the Greater Tortue Ahmeyim LNG project’s timeline delay.
Exploration activity offshore Norway has been reduced and 10 wildcat wells previously planned for this year will be delayed due to the coronavirus crisis and the sharp decline in oil price.
Norwegian Ministry of Petroleum and Industry has approved the plans for development and operation of the Hywind Tampen project, which will make the Snorre and Gullfaks platforms the world’s first oil & gas platforms to be powered by a floating offshore wind farm.
UK’s Ineos has decided to postpone its planned shutdown of the Forties pipeline system until the spring of 2021.
