Danish offshore drilling company Maersk Drilling said Friday its Chief Financial Officer Jesper Ridder Olsen would step down from the position by January 2021.The offshore drilling contractor said that Ridder Olsen had 'decided to pursue another…
Exxon Mobil Corp reported a $1.1 billion loss for the second quarter on Friday, the first back-to-back quarterly loss for the U.S. oil giant in at least 36 years.Exxon stood out among its supermajor peers for not taking a large writedown on…
Rosneft, Russia's largest oil producer, will cut salaries at its central office by a quarter following a decision to reduce the working hours due to the fallout from the coronavirus, Kommersant daily reported on Friday.The newspaper, citing unnamed sources…
Chevron Corp on Friday reported an $8.3 billion loss on asset writedowns from plummeting fuel prices, a forced exit from Venezuela, and expenses tied to thousands of job cuts.Multibillion-dollar asset writedowns have become a prominent part of second-quarter energy results…
A former manager of consultancy Unaoil was sentenced to three years in jail by a London court on Thursday – the second Unaoil executive to be jailed for bribing an Iraqi official to secure a $55 million oil deal after the fall of Saddam Hussein in 2003…
Tim Duncan, CEO of Talos, an oil and gas company focused on exploration and production in the Gulf of Mexico, has been appointed Vice Chairman of the U.S. National Ocean Industries Association (NOIA).Duncan will join NOIA Chairman and Halliburton…
Royal Dutch Shell avoided its first quarterly loss in recent history, helped by a booming trading business, but announced nearly $17 billion in impairment charges reflecting a pessimistic outlook for oil and gas prices.Shell had warned last…
UK-based Envoy Group has acquired a marine engineering company, Avantis Marine, to target carbon reduction and clean energy solutions for offshore markets.Avantis specializes in marine engineering with a focus on environmental performance and clean technologies for the shipping…
Offshore installation services company Subsea 7 reported a Q2 net loss of $922 million, compared to a profit of $24 million in Q2 2019, due to impairment charges of $807 million.The second-quarter revenues of $754 million was 21% lower than in the second quarter of 2018…
Australian oil and gas company Karoon Energy has said that its founder and CEO Robert Hosking will step down after 16 years at the helm.The company, with oil and gas projects in Australia, Peru, and Brazil, said Wednesday that Hosking had informed…
Tullow Oil said on Wednesday it was set to book $1.4-1.7 billion in impairments before tax in its half-year results, as it follows larger rivals in lowering its oil price forecasts.Tullow, which had a market capitalization of around $508 million after markets closed on Tuesday…
The former boss of Mexican state oil firm Pemex, Emilio Lozoya, told a court on Tuesday he was innocent of graft charges and vowed to denounce those responsible for his alleged crimes, in a case that could seriously embarrass Mexico's previous rulers…
Equinor has short-listed four internal candidates to succeed Chief Executive Eldar Saetre who is likely to announce his departure within the next few months, a source familiar with the process told Reuters.The candidates have been asked to present…
LR has appointed Mike Holliday as Marine & Offshore president for South Asia, the Middle East, and Africa (SAMEA).In his new role, Holliday will lead LR’s Marine and Offshore operations across SAMEA, primarily based in Singapore, and be responsible…
London-listed oil and gas company Energean has named Kimberley Wood and Andreas Persianis as Independent Non-Executive Directors.Wood replaces Ohad Marani, who has stood down from the board and joins the board of Energean's subsidiary Energean…