Oilfield Services News


Baker Hughes Earnings Hit by Restructuring Charges

Jul 21, 2021

Shares of energy services firm Baker Hughes slipped on Wednesday after reporting second-quarter results that fell short of Wall Street estimates as it shifts its business to technology and services that help customers transition to a lower-carbon world…

Halliburton Says Oil Industry in Early stages of a Multi-year Up-cycle

Jul 20, 2021

Oilfield company Halliburton Co on Tuesday said the industry was in the early stages of a multi-year up-cycle, as activity has rebounded from pandemic lows and pricing for some of its services has inched higher.The Houston, Texas-based company reported a 33…

UAE: ADNOC Awards Deals Worth $763.7M to Schlumberger, ADNOC Drilling, Halliburton

Jul 14, 2021

The Abu Dhabi National Oil Company (ADNOC) on Wednesday announced awards of  $763.7 worth of contracts to Schlumberger, ADNOC Drilling, and Halliburton for integrated rigless services across six of its artificial islands in the Upper Zakum and Satah Al Razboot (SARB) fields…

ICR to Deliver Services for All Shell's UKCS Assets

Jul 14, 2021

ICR Integrity (ICR), an industrial maintenance and integrity company, has won a three-year contract with Shell UK.Under the contract, which includes extension options, ICR will provide its Technowrap engineered composite repairs, as well as Quickflange weldless connectors…

Danos Secures Construction Work in Gulf of Mexico

Jul 08, 2021

U.S. oilfield services provider Danos has won a contract with an unnamed  Gulf of Mexico operator for construction operations on two shelf assets, located approximately 80 miles off the coast of Louisiana. Work for the contract is expected to last through the end of 2021…

Petrofac, SOCAR JV Net $25M Deal to Support BP's Azeri Central East Project

Jun 24, 2021

Oilfield services firm Petrofac, in a joint venture with Azerbaijan's SOCAR, has won a contract to support BP's Azeri Central East (ACE) project, in the Caspian Sea, offshore Azerbaijan.Under the contract valued at about  $25 million, the Petrofac…

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…

Baker Hughes CEO Calls for Regulatory Incentives on Emissions

Jun 23, 2021

U.S. energy services firm Baker Hughes Co on Tuesday said regulatory frameworks are needed to help spur the growth of energy transition technologies, such as hydrogen, as its top executive called on regulators to create incentives to reduce emissions…

Malaysia's Serba Dinamik to Take Legal Action against KPMG

Jun 22, 2021

Malaysia's Serba Dinamik Holdings Bhd will take legal action against its auditor KPMG for negligence and breach of contract, its chairman Mohamed Ilyas Pakeer Mohamed said on Tuesday.KPMG has 'negligently red flagged some issues', he said at a news conference…

Biden Allows Chevron, U.S. Oilfield Services Firms to Remain in Venezuela till Dec. 1

Jun 02, 2021

Chevron Corp, the last major U.S. oil company still operating in Venezuela, received a new U.S. government license allowing it to remain in Venezuela until Dec. 1, the Treasury Department said on Tuesday.The United States beginning in 2019 imposed…

Archer to Complete DeepWell Buy in 'Next Few Days'

May 31, 2021

Oilfield services company Archer is set to complete the previously announced acquisition of rival DeepWell.'The completion of the acquisition [of DeepWell ] was conditional on obtaining necessary regulatory approval. Such approval was granted today by the Norwegian Competition Authority…

Tucker Energy Services to Offer Tendeka's Tech in the Caribbean

May 25, 2021

Tucker Energy Services has signed a deal with Tendeka to promote the sales, installation, and services of Tendeka’s completion technologies across Trinidad, Suriname, and Guyana.'Tendeka’s technology and business development experts in Houston…

Halliburton Shareholders Vote Against Executive Compensation Plan

May 21, 2021

Halliburton Co's shareholders voted against the oilfield services provider's proposed executive compensation plan in an advisory motion, the company said on Thursday.Halliburton Chief Executive Officer Jeff Miller said the company was 'disappointed…

Ithaca Energy Awards Captain EOR EPCI Deal to TechnipFMC

May 18, 2021

Oilfield services firm TechnipFMC has won a 'significant' engineering, procurement, construction, and installation contract from Ithaca Energy for the recently sanctioned Captain Enhanced Oil Recovery (EOR) Project in the UK North Sea. For TechnipFMC…

Baker Hughes CEO 'Cautiously Optimistic' About Oil Demand Recovery

Apr 21, 2021

Oilfield equipment and services provider Baker Hughes Co top boss on Wednesday reiterated he is 'cautiously optimistic' about oil demand recovering this year from the coronavirus blow, echoing a view he shared on the company's last earnings call…

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