Oilfield Services News

 

TechnipFMC Splits the Company in Two

Feb 16, 2021

Oilfield services company TechnipFMC on Tuesday said it had completed its spin-off transaction to create two independent, publicly traded companies, TechnipFMC and Technip Energies.TechnipFMC, created in 2017 through a merger between France-based Technip and U.S.-based FMC Technologies, announced its intention to separate into two independent public firms in August 2019 - one focused on upstream activities - Technip FMC - the other on midstream and downstream - Technip Energies…

Technip Energies Shares Soar on First Trading Day

Feb 16, 2021

Shares in Technip Energies skyrocketed on Tuesday, the first trading day after Franco-American oilfield company TechnipFMC split its engineering and construction activities from its upstream oil services business.Shares were up 31.5% at 11.83 euros at 0901 GMT ($14…

Schlumberger CEO: Stage is Set for Oil Demand Recovery

Jan 22, 2021

Schlumberger on Friday joined rivals in predicting a steady recovery in the oil industry this year after the world's top oilfield services provider's fourth-quarter results beat estimates, aided partly by growing drilling demand.Easing of COVID…

Baker Hughes: Oil Industry Downturn to Bottom Out in 2021

Jan 21, 2021

Baker Hughes Co on Thursday joined larger rival Halliburton Co in saying the energy industry's worst downturn in decades should bottom out this year.Oil and gas producers have been forced to cut their budget, restructure operations and reduce employees…

Halliburton 4Q Result Beats Estimates, But Profit Drops 43.9%

Jan 19, 2021

Halliburton Co posted a better-than-expected fourth-quarter profit on Tuesday, buoyed by cost cuts and a recovery in demand for oilfield equipment and services after last year's industry slump, Reuters reported Tuesday.The second-biggest services…

TechnipFMC CFO Resigns. Replacement Named

Jan 13, 2021

Oilfield services giant TechnipFMC has appointed Alf Melin Executive Vice President and Chief Financial Officer, effective January 25, 2021. He will take the position from Maryann Mannen who has decided to resign, also effective January 25, 2021…

Report: Aker Solutions Sued by Ex-employee Amid Malaysia Graft Probe

Dec 30, 2020

A former Malaysian employee of Norway's largest oil services company Aker Solutions has sued the firm, saying it tried to stop her from speaking to authorities about its business practices, an accusation the company denies.Seetha Kumarasamy…

National Oilwell Varco to Change Name

Dec 22, 2020

Oilfield services provider National Oilwell Varco said Monday it would change its corporate name to “NOV Inc.”, effective January 1, 2021. The company’s ticker symbol, “NOV”, will remain unchanged.Clay Williams, Chairman, President, and CEO…

Pandemic Wiped 91,680 Jobs in U.S. Oilfield Services Sector

Dec 09, 2020

The U.S. oilfield services sector lost 91,680 jobs due to pandemic-related oil demand destruction, according to a monthly report compiled and published by trade group Petroleum Equipment & Services Association (PESA) on Tuesday.Demand for drilling…

Reuters: Malaysia Probing Aker Solutions over Petronas Dealings

Dec 02, 2020

Malaysia’s anti-graft agency is investigating Norway’s largest oil services provider Aker Solutions on suspicions of making false statements in its dealings with state-owned energy firm Petronas, three sources familiar with the probe said.The…

Norway: Around 260 Schlumberger Workers Set to Strike over Pay

Nov 26, 2020

Some 262 oil service workers at Schlumberger's Norwegian subsidiary plan to go on strike from Dec. 3 if negotiations with employers over pay and working conditions fail, the Safe trade union said on Thursday.The negotiations cover drillers, well service crews…

Tracking the Environmental Impact of the Oil and Gas Supply Chain

Nov 24, 2020

With the energy transition gaining pace, several exploration and production (“E&P”) companies have adjusted their business models; both to reduce emissions and to mitigate climate-related business risks. E&Ps may be grabbing the headlines regarding…

Halliburton to Set Greenhouse Gas Emission Reduction Targets

Nov 19, 2020

Oilfield services provider Halliburton Co said on Thursday it would set greenhouse gas emission reduction targets in line with what the latest climate science outlines is necessary to meet the goals of the Paris Accord.The announcement comes…

Vår Energi Pens Deals with Dozen Norwegian Service Firms

Oct 28, 2020

Norwegian oil and gas company Vår Energi said Wednesday it had entered into five-year framework agreements with twelve Norwegian service providers.The framework agreements include the provision of services both offshore and onshore, and, according to Vår Energi…

Saipem Expects 'Brighter' Year End After Q3 Loss

Oct 28, 2020

Italian energy services group Saipem expects no major delay to projects and predicted brisker business in the last part of the year after swinging to a loss in the third quarter.'We are not out of the woods yet ... (but) the picture starts to get brighter…

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