Krishna Godavari Basin News

 

GE and Siemens Gamesa Settle Offshore Wind Turbine Patent Dispute

Apr 05, 2023

General Electric Co has settled all its outstanding wind turbine technology patent disputes in the United States and Europe with Siemens Gamesa Renewable Energy, the companies recently said.Terms of the settlement, which was described as amicable…

ONGC, TotalEnergies Sign Deepwater Exploration Deal

Mar 06, 2023

India's top explorer, Oil and Natural Gas Corp has signed a memorandum of understanding with French major TotalEnergies for exploration of deep-water blocks, the company tweeted on Monday.India, the world's third biggest oil importer and consumer…

Oilfield Giant SLB Beats Wall St. Q4 Estimates

Jan 20, 2023

Top oilfield services firm SLB on Friday reported results that topped Wall Street estimates for fourth-quarter profit on strong global demand for its drilling services and equipment.Formerly called Schlumberger, SLB has benefited from increased…

ONGC Names Rawat as Director of Exploration

Jan 03, 2023

India's national oil company ONGC has appointed Sushma Rawat as Director of Exploration. She prevciously served as Executive Director-Basin Manager, Assam & Assam Arakan.She takes over the reins as Director of Exploration from Rajesh Kumar Srivastava…

India's PM Modi Inaugurates Onshore Facilities for U-Field in Krishna Godavari Basin Block

Nov 14, 2022

India's Prime Minister Narendra Modi has inaugurated ONGC's U-field Onshore facilities of the KG-DWN-98/2 deepwater block, situated in Odalarevu, Andhra Pradesh, India.The event, in which the Prime Minister dedicated the onshore facilities to the nation…

Tullow Oil to Delist from Euronext Dublin Bourse

Sep 13, 2022

Africa-focused Tullow Oil said on Monday it would exit Ireland's Euronext Dublin bourse on or around Oct. 10 to cut costs.'It is anticipated the delisting will simplify compliance and regulatory obligations of Tullow and is in line with an overall objective to reduce central costs and its purpose…

Baker Hughes to Restructure Organization into Two Units

Sep 06, 2022

Oilfield services firm Baker Hughes Co said on Tuesday it will simplify its organizational structure by reducing its business units to two from four, starting October 1.The company added it expects to deliver at least $150 million in cost savings…

ONGC Inks Deal with ExxonMobil for Deepwater Exploration in India

Aug 19, 2022

Indian oil explorer and producer Oil and Natural Gas Corp said on Wednesday it signed a Heads of Agreement (HoA) with global petroleum giant ExxonMobil Corp for deepwater exploration in the country's East and West coasts.The two oil explorers…

Schlumberger Lifts Revenue Forecast as Oilfield Services Demand Booms

Jul 22, 2022

Schlumberger NV SLB.N on Friday raised its annual revenue forecast after beating analysts' second-quarter earnings expectations, buoyed by higher demand for its oilfield services and equipment.The company has benefited from a boost in activity driven by stronger oil and gas prices…

Baker Hughes Posts Bigger Quarterly Loss on Russia-related Charges

Jul 20, 2022

Oilfield services provider Baker Hughes on Wednesday reported a bigger second-quarter loss, hit by a $365 million charge from suspension of its Russian operations and supply chain inflation, dampening the benefits of higher oil prices.The company's shares fell about 4…

Petrofac Nets First Major O&M Deal India

Feb 07, 2022

Oilfield services giant Petrofac has won two new contracts with Cairn Oil & Gas, Vedanta Limited, India’s largest private oil and gas exploration company. With a combined value of around $100 million, the wins include Petrofac’s first significant Operations and Maintenance (O&M) contract in-country…

Malaysia Bid Round 2022: Petronas Offers Exploration Blocks, Discoveries, Late-life assets

Jan 27, 2022

Malaysia's state energy firm Petronas said it was offering 14 offshore exploration blocks, six clusters of discovered resource opportunities (DRO), and one cluster of late-life assets (LLA) in its annual bid exercise launched on Thursday.The…

US Oil and Gas M&A Activity Slows in Q4

Jan 13, 2022

Dealmaking in the U.S. oil and gas industry halved in value in the fourth quarter from the third, with the annual total falling short of the pre-pandemic average, according to data published by analytics firm Enverus on Thursday.Oil producers…

Baker Hughes Signs Deal with Shell for Renewable Energy Credits

Nov 10, 2021

Oil major Royal Dutch Shell's clean energy unit will provide renewable energy credits (REC) to oilfield firm Baker Hughes' facilities in United States for a two-year period, the companies said on Wednesday. The move comes as climate activists…

ConocoPhillips Swings to 3Q Profit

Nov 02, 2021

ConocoPhillips reported a third-quarter profit on Tuesday, compared with a year-ago loss, thanks to a rebound in crude prices to pre-pandemic levels.Oil prices have climbed nearly 63% since the beginning of the year, driven by a rise in global demand and on supply bottlenecks…

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