GE and Baker Hughes are teaming up to form the “new” Baker Hughes, a company that will be led by current GE Oil & Gas CEO Lorenzo Simonelli and have dual headquarters in Houston and London. Image of Simonelli…
ExxonMobil took a 38% decline in its Q3 2016 earnings, in addition to reducing its capital and exploration expenses by 45% during the period. Image from Exxon. The supermajor’s earnings for Q3 2016 took a US$1…
Global offshore oil production (including lease condensate and hydrocarbon gas liquids) from deepwater projects reached 9.3 MMb/d in 2015. Deepwater production, or production in water of depths greater than 125m, has increased 25% from nearly 7 MMb/d a decade ago…
US supermajor Chevron reported a 35% decline for Q3 2016 when compared to 2015, and an even more drastic drop when looking at its total earnings for the first nine months of the year. Big Foot…
ConocoPhillips reported a US$1 billion loss in Q3 2016, along with plans to reduce its capital expenditures. ConocoPhillips headquarters, from ConocoPhillips. Although the Q3 loss for ConocoPhillips was big…
Husky Energy President and CEO Asim Ghosh will retire, with Rob Peabody, Husky's chief operating officer will take over for Ghosh, effective 5 December. 'For the past seven years Asim has brought his extensive business experience and…
The Lake Erie Energy Development Corp. (LEEDCo) in Cleveland, Ohio has appointed Offshore Design Engineering Ltd. (ODE), an engineering and operations support services contractor that is part of the DORIS Group located in the UK, as the engineering representative for Icebreaker Wind…
Fugro has been awarded the contract by Vineyard Wind, formerly named OffshoreMW, to perform a marine geotechnical site investigation within its wind development lease, offshore Massachusetts. Fugro’s state-of-the-art, 105m drilling vessel M/V Fugro Synergy will perform the study…
Mexico’s national oil company Pemex has awarded French seismic firm CGG a major contract to deliver an orthogonal wide-azimuth integrated solution designed to optimize subsalt seismic imaging in the geologically complex deepwater of the Perdido area…
In this video, Fred. Olsen Windcarrier shows the installation of the first ever offshore wind farm in the US: Block Island. On 18 August, the Brave Tern jackup completed the installation of five GE Haliade 150-6MW turbines at Deepwater Wind’s Block Island Wind Farm…
Brazil’s Petrobras and France’s Total have entered into a strategic alliance for upstream and downstream activities in Brazil, that will expand internationally. Image of Pouyanné, from Total. Petrobras…
Mexico’s National Hydrocarbons Commission (CNH) has approved Italian giant Eni to drill a well in the shallow waters of the Gulf of Mexico, according to news reports. Image from Eni. Drilling…
FMC Technologies is moving forward with its aggressive tactics to make more job cuts in Q4 2016, as the company reported a 29% drop in revenue for Q3 2016. Illustration of FMC Houston offices, from FMC Flickr…
Rowan Companies has received two early termination notices this month, in addition to booking more work and selling one jackup. Image of a Rowan jackup, from Rowan. Cobalt International…
French seismic firm CGG will use ultramodern images help to assess exploration blocks in Mexico’s upcoming licensing round, in the Perdido fold belt. The reprocessing project, Encontrado, is a merge of nine existing surveys, acquired with different orientations…