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DeltaTek's Cementing Tech Saves Petronas Time and Cost Offshore Mexico

Nov 24, 2021

Well construction firm DeltaTek said Tuesday that Petronas had recently used its cementing technology offshore Mexico for the first time.This project, at a deepwater exploration well (BC-1) off the coast of Tampico in over 5000ft of water, marked…

U.S., Global Partners Challenge OPEC+ with Coordinated Release of Oil From Reserves

Nov 23, 2021

The United States said on Tuesday it would release millions of barrels of oil from strategic reserves in coordination with China, India, South Korea, Japan and Britain, to try to cool prices after OPEC+ producers repeatedly ignored calls for more crude…

McDermott, Shell in MoU to Decarbonize Construction

Nov 03, 2021

Offshore installation and construction company McDermott has signed a memorandum of understanding with Shell Eastern Petroleum Pte Ltd (Shell), a subsidiary of Shell, to collaborate on decarbonizing construction. 'The agreement enables McDermott and Shell to explore opportunities for reducing…

Exxon Posts Strongest Results Since 2017

Oct 29, 2021

Exxon Mobil on Friday pledged to revive a share repurchase program next year as its earnings outlook improved on quarterly results that topped analysts' estimates.The largest U.S. oil producer posted an adjusted profit of $1.58 a share, beating the Refinitiv estimate by two cents…

Chevron Posts Highest Quarterly Profit in Eight Years

Oct 29, 2021

Chevron Corp on Friday posted its highest quarterly profit in eight years on surging oil and gas prices and as a recovery in motor fuel demand that boosted refining margins.The strong results came a day after top executives from major oil companies were grilled by U…

QatarEnergy Farms Into ExxonMobil's Block Offshore Canada

Oct 25, 2021

QatarEnergy has signed a deal for a 40% stake in one of ExxonMobil’s major offshore explorations in Canada, the Qatar state-owned oil and gas firm said on Sunday.The deal marks QatarEnergy’s first foray into offshore exploration in Canada, the company said in a statement…

Baker Hughes Profit Misses Estimates

Oct 20, 2021

Oilfield firm Baker Hughes Co reported a quarterly profit that fell short of Wall Street expectations on Wednesday, sending its shares down sharply in pre-market trading.Oil producers and service firms are expected to be supported by a rebound…

Chevron to Triple Low-carbon Investments

Sep 14, 2021

U.S. oil producer Chevron Corp on Tuesday pledged to triple to $10 billion its investments in low-carbon fuel and projects through 2028 amid pressure to boost clean-energy markets.Oil producers globally have stepped up plans to transition to a less carbon intensive production…

McDermott CEO David Dickson Resigns. Interim CEO Named

Jun 08, 2021

David Dickson, CEO of offshore installation and construction firm McDermott has decided to resign, the company said Monday. Dickson was CEO of the company since December 2013.Lee McIntire, an independent director on the McDermott Board of Directors…

Society of Petroleum Engineers, AAPG Exploring Merger

May 25, 2021

The American Association of Petroleum Geologists (AAPG) and the Society of Petroleum Engineers (SPE) on Tuesday announced the two associations were in the process of exploring a potential merger.AAPG and SPE said they were studying the benefits…

Exxon Expects $200M in Job Cuts Charges

May 06, 2021

Exxon Mobil Corp expects up to $200 million in charges this year related to job cuts in an era of cost savings, according to a regulatory filing.The biggest U.S. oil producer has slashed costs, delayed projects and said it could trim an estimated 14…

U.S. LNG Export Bonanza Reshapes Energy Map in Asia

Apr 05, 2021

U.S. exports of liquefied natural gas (LNG) to China, Japan, and South Korea, the biggest importers of the fuel, have surged to record highs in recent months as the heavily industrialized region recovers from the COVID-19 pandemic, Eikon trade data shows…

ExxonMobil's Total Oil and Gas Reserves Drop by a Third

Feb 25, 2021

ExxonMobil's global oil and gas reserves tumbled by a third last year as the COVID-19 pandemic slammed global oil prices and demand, the company said on Wednesday.The largest U.S. oil producer is reeling from the sharp decline in oil demand…

Japan's Inpex Beefs Up Stake in Gulf of Mexico Fields

Feb 03, 2021

Japanese oil firm Inpex has increased its share in Lucius and Hadrian North fields in the U.S. Gulf of Mexico.The company on Tuesday said it had acquired 2.3546% interest of the participating interest (23.29512%) in the Lucius and Hadrian North fields previously held by ExxonMobil…

Former Petronas CEO Joins ExxonMobil Board

Feb 02, 2021

ExxonMobil added a new director to its board after months of investor pressure and the top U.S. oil producer on Tuesday also posted its first annual loss as a public company due to the COVID-19 pandemic hammering energy prices.Tan Sri Wan Zulkiflee Wan Ariffin…

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