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Oilfield Services News

 

Rystad: Oilfield Services Firms' Market Cap Halved. Offshore Drillers Have it Worst

May 15, 2020

Oilfield services companies have collectively lost almost half of their market capitalization, hit by the combination of the coronavirus pandemic and low oil prices, with offshore drillers, in particular, the most affected, Norway's Rystad Energy has said in its analysis released on Friday.'It is widely acknowledged that the oilfield services sector (OFS) is the energy world’s worst-hit market from the Covid-19 pandemic…

Oilfield Services Employment Diving to 10-Year Low

Aug 12, 2020

Oilfield services sector is set to reach the lowest total workforce count in over 10 years, as a consequence of the COVID-19 pandemic, low oil prices, and cuts in spending by the oil companies.'The oil market turmoil brought on by Covid-19 has…

Baker Hughes Posts Q2 Loss as Oil Slump Hits Demand

Jul 22, 2020

Baker Hughes Co posted its second consecutive quarterly loss on Wednesday and said it would continue to rein in costs in preparation for a longer period of volatility in oil prices.Oil producers halted the drilling of new wells and drastically…

Petrofac Warns of Project Delays on COVID-19, Lower Oil Prices

May 15, 2020

Petrofac Ltd on Friday warned of delays in new projects until 2021 due to coronavirus-induced supply chain disruptions and travel restrictions as well as lower oil prices and said it was taking steps to conserve cash.The crash in oil prices…

Sapura Energy CEO: Delays are Inevitable

Apr 30, 2020

Malaysia's largest oil and gas services company Sapura Energy said on Thursday it expects a delay in projects due to the historic rout in oil prices and as widespread coronavirus shutdowns hit demand.'Delays are inevitable,' Chief Executive Shahril Shamsuddin said in an earnings conference call…

Current News

India's ONGC Awards 10-Year Charter for Armada Sterling FPSO

India's ONGC Awards 10-Year Charter for Armada Sterling FPSO

Jadestone, OMV Take More Time to Wrap Maari Field Transaction

Jadestone, OMV Take More Time to Wrap Maari Field Transaction

The Philippines: Shell Looking to Sell Malampaya Stake

The Philippines: Shell Looking to Sell Malampaya Stake

Schottel Thrusters for Russia-bound Ice-Breaking W2W Vessel

Schottel Thrusters for Russia-bound Ice-Breaking W2W Vessel

India's ONGC Douses Fire on Offshore Gas-fed Plant

India's ONGC Douses Fire on Offshore Gas-fed Plant

Woodside Hires DOF Subsea for Flowline Installation Support

Woodside Hires DOF Subsea for Flowline Installation Support

KrisEnergy Gets Kepinvest Support to Bring Cambodia Offshore Oil Project Online

KrisEnergy Gets Kepinvest Support to Bring Cambodia Offshore Oil Project Online

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