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Aker Solutions Manager Charged in Malaysia over False Documents

Jun 11, 2021

A Malaysian manager of Norway's largest oil services provider Aker Solutions was charged on Friday over allegations he submitted false documents in dealings with state-owned energy firm Petronas , according to a court charge-sheet.Ahmad Hatta Kamaruzzaman, 49, pleaded not guilty at the hearing at the Kuala Lumpur Sessions Court, his lawyer Devanandan S. Subramaniam told Reuters. If convicted, he could face five years in jail…

Kent Acquires Majority of SNC-Lavalin's Oil and Gas Business

10 hours ago

Bluewater-backed energy services firm Kent, formerly known as Kentech, has completed the acquisition of the majority of SNC-Lavalin’s oil and gas division, with a minority portion to follow at a later date. 'The Company now harnesses the strength…

Oil Search Says Boss Resigns for Health Reasons

Jul 19, 2021

Oil Search Managing Director Keiran Wulff has resigned 17 months after taking charge over a long-term medical condition that the Papua New Guinea-focused company said had recently deteriorated.The board had been in discussions with Wulff over complaints about his behavior…

Petronas Names New Chairman

Jul 12, 2021

Malaysia has appointed Mohd Bakke Salleh as the chairman of state energy firm Petroliam Nasional Berhad (Petronas), the prime minister's office said on Monday.The change comes as Petronas is recovering from a demand slump caused by the COVID-19 pandemic…

Jadestone, OMV Extend Long-stop Date for New Zealand Oilfield Transaction

Jul 02, 2021

Oil and gas companies Jadestone Energy and OMV New Zealand have given themselves more time to complete the transaction related to the Maari offshore field in New Zealand.Singapore-based Jadestone in November 2019 agreed to buy OMV's 69% operated interest in the Maari Project for $50 million…

Bursa Malaysia Wants Independent Review of Serba Dinamik's Deals after KPMG's Red Flags

Jun 24, 2021

Malaysian oil and gas service provider Serba Dinamik Holdings Bhd must appoint an independent reviewer to address issues raised by the company's external auditor, the national stock exchange said on Wednesday.In May, Serba said auditor KPMG…

KrisEnergy Files for Liquidation as Apsara Field Fails to Deliver

Jun 04, 2021

KrisEnergy, an oil and gas company focused on Southeast Asia, said Friday it had filed a winding-up petition and that it would proceed to liquidation due to its inability to pay debts.KrisEnergy warned about this outcome back on March 31 when it said that the production from the Apsara field…

Big Oil's Credit Risk Increased after Dutch Court Ruling, Investor Pressure

May 28, 2021

Rating agency Moody's said on Friday that the credit risk of major oil producers has increased with recent events including Royal Dutch Shell losing a Dutch climate lawsuit this week and Exxon losing a battle with shareholders.Chevron also lost…

ADNOC's Drilling Unit to Go Public

May 10, 2021

Abu Dhabi National Oil Co (ADNOC) has invited investment banks to pitch for bookrunner roles for the initial public offering of its drilling unit, two sources told Reuters on Sunday.The oil giant invited a handful of international and local…

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…

Valaris Completes Debt Restructuring. Emerges from Bankruptcy

May 03, 2021

Offshore drilling contractor Valaris, which had filed for bankruptcy in August 2020, said Monday it had on April 30, 2021, successfully completed its financial restructuring and emerged from chapter 11.The Valaris Group's Plan of Reorganization…

New Woodside Boss Faces Existential Threats, Outgoing CEO Coleman Says

Apr 16, 2021

Woodside Petroleum's outgoing boss said on Friday his replacement will face two company-defining challenges: replacing its aging assets and managing the transition to cleaner energy.Australia's top independent gas producer is betting its future on the $11 billion Scarborough gas project…

Sapura Energy CEO Retires. Successor Named

Mar 22, 2021

Malaysia's Sapura Energy has said its President and Group CEO Tan Sri Shahril Shamsuddin was retiring Monday, after leading the Group for more than 25 years. He will be succeeded by Mohd Anuar Taib, who takes over the helm as Sapura Energy Group Chief Executive Officer beginning 23 March 2021…

Activist Investor Seeks to Remove Ex-CEOs of IBM, Petronas, Caterpillar, MetLife from ExxonMobil Board

Mar 16, 2021

The activist investor leading a proxy fight to reshape Exxon Mobil Corp on Monday named the four directors it wants shareholders to remove at the oil company's upcoming annual general meeting.The investor, Engine No. 1, is a small fund that last year took on the top U…

Shell CEO's 2020 Pay Package Drops 42% to $7M

Mar 11, 2021

Royal Dutch Shell Chief Executive Ben van Beurden's pay package dropped by 42% to $7 million in 2020, a year in which the coronavirus pandemic pushed the energy company to a historic dividend cut following a collapse in profits.Van Beurden,…

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Kent Acquires Majority of SNC-Lavalin's Oil and Gas Business

Kent Acquires Majority of SNC-Lavalin's Oil and Gas Business

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Shell, Petronas Carigali, Petros Get Hold of Offshore Block in Sarawak, Malaysia

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