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Reliance Reaps Record Profit

Oct 18, 2019

Indian oil-to-telecoms conglomerate Reliance Industries said strong growth in its consumer-facing businesses lifted second quarter net profit by 18.3% year-on-year to a record total.Consolidated net profit rose to 112.62 billion Indian rupees ($1.58 billion) in the three months ended Sept. 30, the country's largest company by market value said on Friday.Analysts on average had expected a profit of 111…

India's Reliance Cuts Pay of Oil & Gas Division's Execs

Apr 30, 2020

India's Reliance Industries has cut the pay of some top oil-and-gas division employees by up to 50%, according to six sources and a letter seen by Reuters, as it battles lower profitability because of the coronavirus epidemic.Reliance, headed by India's richest man…

Worley CEO to Step Down. Replacement Named

Feb 03, 2020

Australia-based oilfield services and engineering company Worley has named a new CEO after Andrew Wood decided to retire after 26 years with the company, seven as CEO.He will be replaced by Chris Ashton, who has been with Worley since 1998, most recently serving as the Chief Operating Officer…

Schlumberger Profit Beats Estimates

Oct 18, 2019

Schlumberger NV beat Wall Street estimates for profit on Friday, in the first quarter under Olivier Le Peuch, as higher international drilling activity boosted demand for its equipment and services and helped counter weakness in North America…

PTTEP, Halliburton Ink Automation Deal

Oct 01, 2019

PTTEP, a national petroleum exploration and production company in Thailand, selected Halliburton Landmark for joint development of new well design workflow to automate drilling and completion engineering processes across the well lifecycle, the US-based oilfield services company announced…

Schlumberger, WesternGeco to Provide E&P Data

Sep 16, 2019

WesternGeco, the seismic and geophysical data solutions division of Schlumberger, has entered a strategic collaboration with IHS Markit, a global provider of information, analytics, and solutions.The collaboration will bring together data, technology…

TGS Acquires Production Data Firm

Sep 05, 2019

TGS said it has purchased all outstanding shares and completed the acquisition of Lasser, Inc., a Fort Worth-based company which provides historical and monthly oil and gas production data.Lasser owns, maintains and licenses a nationwide U.S…

DNV GL's Probabilistic Digital Twin Launch

Sep 05, 2019

DNV GL proposes the “Probabilistic Digital Twin” (PDT) to close the gap between digital twins – used increasingly by operators to manage the performance of their assets – and risk analysis still largely conducted manually before assets enter service…

Schlumberger CEO Outlines Digital Strategy

Sep 04, 2019

Schlumberger NV's newly-appointed Chief Executive Officer Olivier Le Peuch on Wednesday outlined his vision for the world's largest oilfield services company, vowing to exit unprofitable businesses, restructure some units and focus on returns…

Worley, AVEVA to Roll Out Cloud-based EPC Solution

Aug 26, 2019

Engineering and industrial software company AVEVA announced that Worley has selected AVEVA’s Enterprise Resource Management solution as its preferred  materials management platform. The partnership combines Worley’s engineering, procurement…

Voyager Targets Bulk Shipping for SaaS Solution

Aug 21, 2019

Voyager, a company offering a solution to the bulk commodity shipping market to operate in a unified and digital environment, announced completion a $1.5 million seed funding round co-led by ATX Venture Partners, Blue Bear Capital, GreenHawk Capital…

Woodside to Implement Schlumberger's DELFI

Aug 20, 2019

Australia's largest oil and gas operator Woodside Energy will leverage Schlumberger's DELFI cognitive cloud-based software environment in an effort to increase consistency, reduce study cycle time and foster innovation in its subsurface characterization and development activities…

Industrial Internet to Help Upstream Sector

Aug 12, 2019

There has been a growing interest among oil and gas companies in adopting the Industrial Internet to improve sustainability and market competitiveness, said a study.According to data and analytics company GlobalData the upstream sector is witnessing…

Equinor,YPF Pact on Argentina Wind Power

Aug 07, 2019

Norwegian multinational energy company Equinor ASA and Argentine power producer YPF Luz have joined for the development of the Cañadón León wind farm in Santa Cruz in Argentina.As per agreement, a subsidiary of Equinor will subscribe to shares in Luz del León…

Digitalization Boosts Renewable Sector

Jul 30, 2019

Renewable energy investors and developers are increasingly turning to digital technology to build effective investment strategies, with almost half (47%) of the finance industry saying they have digitalization as a core part of their publicly stated strategy…

Current News

SapuraEnergy Nets $179,6M in New Deals Across SE Asia

SapuraEnergy Nets $179,6M in New Deals Across SE Asia

KrisEnergy Suspends Wassana Oil Field Production 'Until Further Notice'

KrisEnergy Suspends Wassana Oil Field Production 'Until Further Notice'

Sinopec Adds More Oil Storage at Baishawan

Sinopec Adds More Oil Storage at Baishawan

Saudi Arabia, Russia Reach Deal on Oil Output Cut Extension

Saudi Arabia, Russia Reach Deal on Oil Output Cut Extension

China: Empyrean Gets More Time to Drill at 29/11 offshore block

China: Empyrean Gets More Time to Drill at 29/11 offshore block

Shell Weighs Sale of $2B-plus Share in Queensland LNG

Shell Weighs Sale of $2B-plus Share in Queensland LNG

Oil Gains, with Brent above $40

Oil Gains, with Brent above $40

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