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Schlumberger beat expectations with a rise in fourth-quarter profit on Friday as higher crude and natural gas prices drove demand for the world's largest oilfield services company. Oil prices surged about 50% last year and are trading at seven-year highs on a COVID-19 vaccine-fueled demand recovery and tight supplies. The global rig count was 1,563... Continue Reading →
Global upstream merger and acquisition (M&A) deals rebounded to pre-Covid-19 levels in 2021, reaching a total of $181 billion, which is a 70 per cent increase over 2020, Rystad Energy’s research shows. Additionally, the M&A market is likely to stay active for the foreseeable future. According to Rystad Energy’s report on Friday, the total deal value for... Continue Reading →
Offshore drilling firm Seadrill Limited's unit Seadrill New Finance (the Issuer) has emerged from chapter 11 after successfully completing its pre-packaged restructuring pursuant to its chapter 11 plan of reorganization. The Plan was confirmed by the United States Bankruptcy Court for the Southern District of Texas on January 12, 2022. All conditions precedent to the... Continue Reading →
(Reuters) - Schlumberger NV (SLB.N), the world's largest oilfield services company, reported a rise in fourth-quarter profit on Friday, as higher crude and natural gas prices drove up demand for its services and equipment. Oil prices surged about 50% last year and are currently trading at seven-year highs on the back of a vaccine-fueled demand recovery... Continue Reading →
(Reuters) - The transition to clean energy required to prevent temperatures from rising swiftly could shave 2% off global GDP by 2050 but is likely recoverable before the end of the century, a report by natural resources consultancy Wood Mackenzie said on Thursday. While investments in technologies like solar and wind farms, advanced batteries will... Continue Reading →
Baker Hughes Co on Thursday reported an adjusted quarterly profit compared with a year-ago loss, as producers took advantage of a rise in crude prices that fueled demand for oilfield service equipment. Oil prices surged more than 50% last year on hopes of a global economic recovery from the COVID-19 pandemic and as OPEC+ cut... Continue Reading →
TechnipFMC is proceeding with the voluntary delisting of its shares from Euronext Paris, following the partial spin-off of Technip Energies and the progressive selldown of its remaining ownership stake. After a comprehensive review of its strategic objectives, TechnipFMC said it has refocused as a pure-play technology and services provider to the traditional and new energies... Continue Reading →
(epbr) The Administrative Council for Economic Defense (Cade) approved, without restrictions the acquisition of the Carmópolis Cluster, sold by Petrobras to Carmo Energy. The regulatory agency understood that there is no harm to the competitive environment in the oil and gas sector. Carmo Energy, an affiliate of the Spanish group Cobra, will take over the... Continue Reading →
Global oil and gas investments will expand by $26 billion this year as the industry continues its protracted recovery from the worst of the pandemic and the hurdles imposed by the Omicron variant. An analysis by Rystad Energy projects overall oil and gas investments will rise 4 per cent to $628 billion this year from... Continue Reading →
(Reuters) - Equinor (EQNR.OL) will book a loss from gas derivatives of between $1.4 billion and $1.5 billion for the final quarter of 2021, in line with previous statements that some third-quarter profits would be reversed, the energy company said on Tuesday. Norway's largest company on Oct. 27 reported a surge in July-September earnings, driven by a global... Continue Reading →
