Oilfield services giant Baker Hughes has agreed to acquire Norway-based well intervention specialist Altus Intervention.The company said the acquisition of the well intervention services and down-hole oil & gas technology company, complemented…
Exports of Malaysia's flagship Kimanis crude oil are set to fall to six cargoes in May, down two from April, due to maintenance at oilfields offshore Sabah, a preliminary loading schedule showed on Friday.Shell, the operator of the oilfields that produce Kimanis…
Schlumberger NV reported a rise in third-quarter adjusted income on Friday, buoyed by higher demand for the company's oilfield services and related equipment from producers looking to capitalize on a rebound in crude prices.Global crude prices rose 4…
Chinese oil and gas firm CNOOC Ltd wants to exercise an option and acquire an additional 5% stake in production rights for the Buzios oilfield for $2.08 billion, the oilfield's owner, Brazil's Petrobras, said on Wednesday.Petroleo Brasileiro SA…
Chinese oil company CNOOC said Thursday it had made a 'large-sized' discovery at Kenli 10-2 site in Bohai Bay, offshore China.The Kenli 10-2 oilfield is located in Laizhou Bay Sag in Southern Bohai Bay, with an average water depth of about 15…
China's top offshore oil and gas producer, CNOOC, has launched the country's first offshore carbon capture and storage (CCS) project in South China Sea, which is expected to store more than 1.46 million tonnes of carbon dioxide.As one of the…
Malaysian oil company Ping Petroleum, a subsidiary of DNeX, has agreed to buy the remaining 50 percent stake in the Avalon oil field in the UK North Sea, for $17 million.Ping will buy the 50 percent stake in the oil field from Summit Exploration and Production…
Oilfield services giant Schlumberger NV issued a bullish forecast for 2021 on Friday as second-quarter profit topped estimates due to surging margins, with a rebound in oil prices boosting demand for its software and equipment.Global crude prices…
Shares of energy services firm Baker Hughes slipped on Wednesday after reporting second-quarter results that fell short of Wall Street estimates as it shifts its business to technology and services that help customers transition to a lower-carbon world…
Chinese oil company CNOOC said Monday it had kicked off production from Weizhou 11-2 oilfield phase II project.The Weizhou 11-2 oilfield phase II project is situated in the South China Sea's Beibu Gulf, at a water depth of around 40 meters.'In…
Oilfield services company Baker Hughes has won a subsea oilfield equipment contract with the Brazilian oil company Petrobras as part of the Marlim and Voador field revitalization plan in the Campos Basin, offshore Brazil. Baker Hughes will supply…
Oilfield services group Hunting Plc said on Wednesday its first-quarter earnings were in line with expectations despite a hit to the company's Texas facilities in February when the U.S. state faced severe cold weather.The company said it recorded…
China's CNOOC on Monday said it had started production from the Caofeidian 6-4 offshore oil field in the Bohai bay, China.The Caofeidian 6-4 oilfield is located in the Midwest of Bohai, with an average water depth of about 20 meters. 'In addition…
China's CNOOC said Monday that its Penglai 25-6 oilfield area 3 project has started production ahead of schedule.The Penglai 25-6 oilfield area 3 project is located in the south central Bohai Sea, with average water depth of about 27 meters…
The U.S. oilfield services sector lost 91,680 jobs due to pandemic-related oil demand destruction, according to a monthly report compiled and published by trade group Petroleum Equipment & Services Association (PESA) on Tuesday.Demand for drilling…
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