Schlumberger chief financial officer steps down after £9.3bn loss
Schlumbergers chief financial officer has announced plans to step down following the company's £9.3billion pre-tax loss in October.
oilfield services
Dealmakers look ahead to ‘big year’ for M&A in UK North Sea
As some of the North Sea’s private equity-backed players prepare themselves for public listings, 2020 is expected to be a “big year” for gauging the size of investors’ appetites.
Schlumberger posts £9.3billion loss as it takes heavy impairment charges
Heavy impairment charges led Schlumberger to a loss of £9.3billion before tax in its third quarter results.
Jump in oil price could send service company margins higher – Rystad
The recent oil price jump could create further momentum for service sector margins, according to Rystad Energy.
Global service market will sink into recession next year – Rystad
Lower oil prices will push the global service market into a recession in 2020 after three successive years of growth, according to Rystad Energy.
Updated: Plexus teams up with valve maker for Dyce-based venture
Dyce-based oil-well technology firm Plexus and a Newcastle valve maker have formed a joint venture to supply equipment North Sea operators are “crying out for”.
Hope for Weatherford in face of Chapter 11 bankruptcy
Oilfield services giant Weatherford International has announced further backing from lenders for financial restructuring plans aimed at significantly reducing its colossal debt pile.
Expro sees good growth amid recovery in core markets
Expro has cash in the bank and is in good shape for “conservative growth” amid a recovery in its core markets, one of the oilfield service company’s bosses said yesterday.
Innovative models for a tricky market
In eras of high oil prices, operators have focused on bringing oil to market, with less consideration for the costs and risks they incurred.
Clueless frontline staff hurt suppliers’ chances of winning orders
Oilfield service firms’ failure to properly train front desk staff is damaging their chances of securing contracts, a new report said.
OPINION: A time of opportunity for oilfield services sector
As companies have continued to consolidate during the oil and gas market downturn, Céline Delacroix, Associate Partner, EMEIA Oilfield Services at EY, explains how this activity is creating investment and growth opportunities in the oilfield services sector.
Oilfield services leaders told they cannot remain in “survival mode”
Oilfield services leaders in the UK have been told they have “done well to survive” but need to get over risks around innovation.
UK oilfield services sector ‘back from the brink’ after 15% drop in turnover
The UK oilfield services (OFS) sector is now “back from the brink” after reporting a drop in turnover of 15.5% for 2016, according to a new report from EY.
Winds of change blow for oilfield service sector
Oil-field service (OFS) companies are increasingly looking for work in offshore wind as activity in core markets remains suppressed, an analyst has said.
EY ‘cautiously optimistic’ for UK oilfield service sector
A combination of more stable oil prices and signs of new investment have provided grounds for “cautious optimism” for the UK oilfield service sector, according to analysis published by EY today.
Halliburton posts surprise profit, plans to reduce ‘structural’ costs by a quarter
Halliburton has posted a surprise quarterly profit.
Exclusive: Schlumberger staff on gardening leave on 20% of pay….but can’t work anywhere else
Oil workers in Aberdeen have been put on gardening leave from Schlumberger for up to a year on 20% of their normal salary – but can’t work anywhere else.
Oilfield service sector could see $30billion growth by 2018
There is hope in the oilfield service industry despite the current downturn with a project $30billion growth from 2014-2018 according to a leading analyst.
Former Wood well-support boss to add expertise to Expro board
Aberdeen-based well-flow management group Expro has appointed Jim Renfroe as a non-executive director.
Baker cooks up unconventionals initiative in Saudi
US oilfield services major, Baker Hughes, has opened a research and technology centre in Dhahran, Saudi Arabia to concentrate on new ways of unlocking "unconventional" hydrocarbons like shale gas.
Houston – or anyone who can be bothered – we have a problem
Do you ever read BBC economics chap Robert Peston's blog on the BBC website? I do because it provides some interesting insight into how the City is thinking or - as recent events would seem to prove - not thinking.