Apache deep in the red as impairments hit hard
Apache recorded pre-tax losses of £3.8 billion in the first half of 2020 as the firm creaked under the weight of lower oil and gas prices.
Americas
Total maintains dividend despite net losses of £6.5bn, celebrates major oil discovery off Suriname
French energy giant Total this morning announced first-half net losses of £6.5 billion, but provided some cheer by maintaining its dividend and celebrating a major discovery off Suriname.
Total records $8bn writedown on carbon-heavy oil assets
Total SE announced an $8.1 billion writedown after the push to curb carbon emissions and the coronavirus pandemic challenged assumptions about the long-term viability of some oil and gas assets.
Aker Solutions bags £120m deal with ExxonMobil
Norwegian energy services firm Aker Solutions has clinched a five-year contract extension from ExxonMobil to provide a range of services on the Hebron platform, offshore Newfoundland.
US trial a major step forward for oil well technology developed in Aberdeen
Cavitas Energy’s mission to develop a downhole device aimed at improving the economic feasibility of heavy and enhanced oil recovery has taken a major leap forward.
Aberdeen mooring specialist anchors contract worth in excess of £1m
An Aberdeen headquartered marine services and mooring specialist has secured a deal worth in excess of £1 million.
88 Energy Prepare for a Farm out on Billion Barrel Plus Alaskan Project
Alaska’s North Slope basin has a long history of successful oil discoveries — recent discoveries have included the two largest conventional oil discoveries onshore North America in over 40 years.
Chevron is installing solar panels — To produce oil more cheaply
In California’s sun-drenched Kern Valley, Chevron Corp. has found a way to use one of the state’s clean-energy programs to cut the cost of pumping oil, to the chagrin of some environmentalists.
Weatherford scoops $15m deal in Argentina
Weatherford has won a two-year, $15m contract with a major independent operator in Argentina.
Ziyen boss throws weight behind Californian independence movement
The exiled Highlander behind US-based software and energy firm Ziyen Energy has secured a new role advising a group campaigning for independence for California.
US judge orders pipeline closure as shale struggles badly
Earlier this month, a federal judge stunned the U.S. energy sector with an order to shut down the Dakota Access pipeline. Environmentalists hailed it as the first time a fully operating system had been forced to close by a legal challenge.
UK confiscates £5m London home linked to Petrobras bribery case
U.K. prosecutors have frozen a £5 million apartment in west London owned by a Brazilian businessman implicated in the Petrobras bribery scandal.
Chevron snaps up Noble
Chevron has struck a deal to buy Noble Energy for $5 billion, which will be paid in an all-stock transaction.
Floating production system market set for quick rebound, Westwood Global says
The floating production systems (FPS) market will rebound to $13 billion annually from 2021-24 with an average oil price of $60 per barrel, analysts have said.
Ocean Infinity wraps up project offshore Guyana
Ocean Infinity, the world-leading marine robotics company, is pleased to announce it has successfully completed its recent project for ExxonMobil, within the Stabroek block offshore Guyana.
Trump claims he ‘created’ the Texas oil industry
President Donald Trump on Monday downplayed “phony polls” showing a tight presidential race in Texas, saying he’s way ahead because he “saved the oil industry,” and later adding, “I created it.”
Exxon restarts Guyana drilling amid voting crisis
Exxon Mobil Corp. resumed drilling in Guyana last month, underscoring its dedication to the offshore hotspot despite the oil price crash and a messy turn in local politics.
Transocean to lay off 110 offshore rig workers
Transocean Deepwater plans to lay off as many as 110 workers after the Houston offshore driller could not secure a new contract for one of its drillships amid low oil prices.
No more FPSO orders in 2020
No more floating production, storage and offloading (FPSO) vessels will be ordered this year, Rystad Energy has predicted.
Enron legacy returns in battle over $80 million yacht
Almost two decades after the collapse of Enron Corp., a former unit of the energy-trading giant is sparring with US and Nigerian authorities over the proceeds of the sale of a luxury yacht.
ExxonMobil suffers second quarterly loss on the bounce
Exxon Mobil Corp. incurred an unprecedented second straight quarterly loss as almost every facet of the oil giant’s business slumped amid Covid-19 lockdowns that stunted economic activity.
McDermott International exits Chapter 11 bankruptcy
Oil field service company McDermott International shed $4.6 billion debt after emerging from bankruptcy Monday afternoon.
Maersk Drilling bags £16.6million Suriname contract with Petronas
Maersk Drillng has won a £16.6m ($20.4m) contract with Petronas off Suriname.
Texas moves ahead on discharging oil wastewater, even as EPA balks
Environmental officials in Texas and other western states are moving ahead on plans to allow oil and gas companies to treat drilling wastewater and discharge it into rivers and streams, even as the Trump administration balks at endorsing the practice amid widespread questions about public health effects.
A second virus wave is threatening US oil demand again
After months of empty roads, lockdowns were easing and people were getting behind the wheel again. A station in Northern California was selling gasoline for a whopping $5.98 a gallon.