Baker Hughes reported lower than expected first-quarter earnings and said the rest of the year will be impacted by “broad-based inflation and supply pressures,” exacerbated by “unfortunate geopolitical events” including uncertainty in Russia.
Oilfield services giant Baker Hughes has signed a deal to acquire wells specialist Altus Intervention.
Oilfield services firm Hunting plans to appoint a former top boss at Schlumberger to its board.
Aberdeen-based oilfield services firm Enerquip has hailed a landmark move into a new market with its first ever contract to supply equipment to Uganda.
Oilfield equipment specialist OSSO has announced its move to a larger headquarters in Aberdeen.
The Omicron virus variant has plunged the world into yet more uncertainty in recent months – but even so, 2021 will be remembered as the year when the pandemic loosened its grip on global energy markets and the supply chain could start to recover from last year’s 14% drop in global energy spending. Investments grew 7% this year, putting economies, energy demand and the supply sector on the road to recovery.
Aberdeenshire-based engineering company Infinity expects to double its headcount over the next three years in an aggressive push for growth.
Energy software firm FutureOn is hoping the formation of a new strategic partnership will allow it to maintain “streamlined and effective” operations.
Schlumberger (NYSE: SLB) enjoyed a boost to profits in the third quarter as the oilfield services giant plans to “close 2021 with strong momentum”.
Halliburton’s chief executive has praised the “effectiveness” of its “strategy and execution” after the company reported a healthy balance sheet.
Bosses at oilfield services firm Tendeka are toasting new international contracts worth more than £22 million for work over the next three years.
UK-based energy services firm Expro has delivered its last set of results before its "merger" with Dutch rival Frank’s International.
Baker Hughes trimmed its losses in the second quarter as drilling activity continued to rebound from the pandemic-driven oil bust.
Halliburton’s chief executive says the company’s strategy is “working well” after a relatively healthy financial start to the year.
Baker Hughes’ new North Sea vice president for oilfield services (OFS) has made decarbonising operations one of her key priorities.
Oilfield services firm Expro has formed an exclusive partnership with FTAI Ocean for the supply of its well intervention vessel.
Expro’s chief executive says he doesn’t anticipate its amalgamation with Frank’s International to lead to any “significant headcount changes” in Aberdeen.
Sparrows Group has bagged a five-year contract worth more than £1 million for work in the US.
Offshore contractor Bilfinger Salamis has indicated it is open to the possibility of trade union recognition, around five years after it allegedly stopped acknowledging them.
Baker Hughes and Akastor ASA have announced plans to form a joint venture company to provide global offshore drilling solutions.
Oilfield technology firm Hunting has formed a strategic partnership with Well Data Labs (WDL) and agreed to provide the firm with $2.5 million (£1.8m) in convertible capital financing.
Schlumberger’s chief executive has described 2020 as “an exceptional year of operational resilience” with the firm posting pre-tax losses of $11.2 billion (£8.3bn).
Oilfield services provider McDermott International has secured more than half a billion dollars in new capital.
Baker Hughes has said it remains “intensely focussed" on improving its "margin and return profile" as it stayed deep in the red in the third quarter.
Schlumberger has completed its plan to cut 21,000 jobs in response to the oil downturn, according to its latest accounts.