Baker Hughes Co on Thursday joined larger rival Halliburton Co in saying the energy industry's worst downturn in decades should bottom out this year.Oil and gas producers have been forced to cut their budget, restructure operations and reduce employees…
Halliburton Co posted a better-than-expected fourth-quarter profit on Tuesday, buoyed by cost cuts and a recovery in demand for oilfield equipment and services after last year's industry slump, Reuters reported Tuesday.The second-biggest services…
Oilfield services giant TechnipFMC has appointed Alf Melin Executive Vice President and Chief Financial Officer, effective January 25, 2021. He will take the position from Maryann Mannen who has decided to resign, also effective January 25, 2021…
A former Malaysian employee of Norway's largest oil services company Aker Solutions has sued the firm, saying it tried to stop her from speaking to authorities about its business practices, an accusation the company denies.Seetha Kumarasamy…
Oilfield services provider National Oilwell Varco said Monday it would change its corporate name to “NOV Inc.”, effective January 1, 2021. The company’s ticker symbol, “NOV”, will remain unchanged.Clay Williams, Chairman, President, and CEO…
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…
Malaysia’s anti-graft agency is investigating Norway’s largest oil services provider Aker Solutions on suspicions of making false statements in its dealings with state-owned energy firm Petronas, three sources familiar with the probe said.The…
Some 262 oil service workers at Schlumberger's Norwegian subsidiary plan to go on strike from Dec. 3 if negotiations with employers over pay and working conditions fail, the Safe trade union said on Thursday.The negotiations cover drillers, well service crews…
With the energy transition gaining pace, several exploration and production (“E&P”) companies have adjusted their business models; both to reduce emissions and to mitigate climate-related business risks. E&Ps may be grabbing the headlines regarding…
Oilfield services provider Halliburton Co said on Thursday it would set greenhouse gas emission reduction targets in line with what the latest climate science outlines is necessary to meet the goals of the Paris Accord.The announcement comes…
Norwegian oil and gas company Vår Energi said Wednesday it had entered into five-year framework agreements with twelve Norwegian service providers.The framework agreements include the provision of services both offshore and onshore, and, according to Vår Energi…
Italian energy services group Saipem expects no major delay to projects and predicted brisker business in the last part of the year after swinging to a loss in the third quarter.'We are not out of the woods yet ... (but) the picture starts to get brighter…
Oilfield and drilling services firm Archer said Thursday it had secured a two-year contract extension with a major North Sea operator for the provision of platform drilling operations and maintenance services on seven UK North Sea installations…
Wage negotiations between Norwegian oil service companies and the Safe labor union broke down on Thursday and will become subject to mandatory mediation later this year, union and industry officials said.Safe's 850 members are not permitted to strike at this point…
Baker Hughes Co reported a third straight quarterly loss on Wednesday, as a coronavirus-induced slump in commodity prices continued to hurt demand for equipment and services.Producers have been drilling fewer wells following a collapse in crude…
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