Offshore energy industry services company Acteon Group Ltd has appointed Dr Bernhard Bruggaier as Group Chief Executive. He succeeded Dr Carl Trowell, effective from January 1, 2023.Bruggaier joined Acteon’s subsidiary MENCK in 1994, became its Managing Director in 1998…
Oilfield services company Archer Limited has acquired Aberdeenshire-based firm Romar-Abrado, which offers services to the plugging and abandonment market. The acquisition is based on an enterprise value of USD 8 million, plus an earn-out pending trading performance over 2023 to 2025…
Oilfield services giant Baker Hughes has appointed Ganesh Ramaswamy as executive vice president (EVP) of the Industrial & Energy Technology (IET) business segment, effective Jan. 16. 'Ramaswamy’s appointment is another step in the company’s…
Offshore exploration and production (E&P) capital expenditures (capex) will shake off the pandemic-induced declines of the past two years and rebound by 20% in 2022, reaching a total $165 billion spent on exploration, wells, and facilities (Figure 1)…
Petra Energy Berhad has secured a contract extension with Petronas for production, operation, and maintenance services at the Banang offshore oil field. The agreement runs until August 6, 2024. Its scope under the extension includes the provision of production…
Oilfield services company Weatherford has appointed Arun Mitra as the Company’s Executive Vice President and Chief Financial Officer.Before joining Weatherford, Mitra served as the Executive Vice President and Chief Financial Officer of Mitsubishi Power Americas Inc…
Oilfield services provider Petrofac Ltd on Tuesday forecast an annual operating loss of about $100 million due to challenges in recovering costs in its engineering and construction (E&C) division. The group expects E&C, its largest division…
Saudi Arabian national oil company Saudi Aramco saod Tuedsay it had signed signed 59 corporate procurement agreements (CPAs) with 51 local and global manufacturers, including oilfield services majors Baker Hughes, Halliburton, SLB, and TechnipFMC…
Oilfield services provider Petrofac said on Tuesday that Sami Iskander would step down as chief executive officer at the end of March 2023 and be replaced by Tareq Kawash, a senior executive at energy firm McDermott. Iskander took the helm in…
Kent, an energy services company, said on Wednesday that INEOS UK SNS Ltd. had awarded it a three-year framework contract for structural integrity analysis modeling services.Kent will support the safe and sustainable structural integrity management…
Top oilfield services firm SLB will raise its quarterly dividend next year by 43% and resume a share buyback program, executives said on Thursday, offering an upbeat view of energy markets. Although annual revenues have fallen every year since 2019…
Abu Dhabi National Oil Company (ADNOC) on Tuesday announced the award of three framework agreements valued at $4 billion (AED14.68 billion) for integrated drilling fluids services (IDFS) to support the ongoing expansion of its 'lower cost and…
Oilfield firm Baker Hughes on Thursday said it would increase its quarterly dividend by 5.5% to 19 cents per share and that its board had authorized an additional $2 billion in share repurchases. The increases underscore an ongoing focus by…
Italy's Saipem improved its guidance for the full year after third-quarter adjusted core earnings and revenue beat analysts' expectations. The energy contractor reported on Thursday an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of 215 million euros ($216…
Halliburton Co posted a rise in profit for the third quarter on Tuesday, wrapping up an upbeat earnings season from the world's top oilfield services providers on strong demand fueled by higher oil prices. Brent crude averaged $98.96 a barrel during the third quarter…
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