Petrofac again extends grace period with lenders over missed payments
Petrofac (LON: PFC) has extended its existing forbearance agreement on a missed interest payment with a group of lenders from 20 September to 18 October 2024.
oilfield services
SLB says lithium breakthrough brings full-scale plant closer to reality
SLB, the world’s biggest oilfield services provider, said it achieved results at a lithium project that prove it can some day produce the battery metal at a commercial scale with less impact on the environment.
SLB and Halliburton see strong international oilfield demand
SLB and Halliburton, two of the world’s biggest oilfield service providers, said they see strong international demand for crude drilling after posting earnings that met or exceeded expectations, supporting their shift into overseas markets.
After tough years, UK offshore services sector looks to brighter future
The UK offshore services sector (OFS) has had a rough time over recent years, given the COVID-19 pandemic, declining oil and gas activity, political uncertainty and limits on the pace of the energy transition.
Kintore engineering firm Brimmond marks best ever year
Kintore-based engineering firm Brimmond is toasting its best-ever financial year amid a surge in demand.
Oilfield service capacity to stay ‘tight’, says Halliburton CEO as group earnings swell
Halliburton (NYSE: HAL) is warning that oilfield services are likely to be tight for the foreseeable as companies scramble to up production.
Archer and IKM in for Baker Hughes’ pumping and tubing division
A pair of firms are making a play for Baker Hughes’ coil tubing and pumping business, potentially paving the way for its takeover of rival Altus Intervention.
Saipem unveils new CEO after Caio resigns with immediate effect
Saipem (MIL: SPM) has announced the appointment of a new chief executive after incumbet Francesco Caio resigned with immediate effect.
Choppy waters ahead for oilfield service businesses as the windfall tax creates uncertainty
Legislation for the energy profits levy passed through the House of Commons recently to the dismay of many in the industry.
Halliburton takes $366m impairments on Russia invasion of Ukraine
Marketing for sale its business in Russia and impairments on its assets in Ukraine saw Halliburton (NASDAQ: HAL) take $366m of impairments in the first half of 2022.
Baker Hughes misses estimates, warns of geopolitical instability
Baker Hughes reported lower than expected first-quarter earnings and said the rest of the year will be impacted by “broad-based inflation and supply pressures,” exacerbated by “unfortunate geopolitical events” including uncertainty in Russia.
Altus Intervention to be acquired by oilfield services giant Baker Hughes
Oilfield services giant Baker Hughes has signed a deal to acquire wells specialist Altus Intervention.
Hunting to appoint former Schlumberger director to board
Oilfield services firm Hunting plans to appoint a former top boss at Schlumberger to its board.
Enerquip marks ‘important first’ with $500K Uganda contract
Aberdeen-based oilfield services firm Enerquip has hailed a landmark move into a new market with its first ever contract to supply equipment to Uganda.
OSSO doubles size of Aberdeen headquarters, plans to expand team
Oilfield equipment specialist OSSO has announced its move to a larger headquarters in Aberdeen.
Signs point to a more positive year for the global energy supply chain
The Omicron virus variant has plunged the world into yet more uncertainty in recent months – but even so, 2021 will be remembered as the year when the pandemic loosened its grip on global energy markets and the supply chain could start to recover from last year’s 14% drop in global energy spending. Investments grew 7% this year, putting economies, energy demand and the supply sector on the road to recovery.
Aberdeenshire engineering firm Infinity to double headcount in aggressive growth drive
Aberdeenshire-based engineering company Infinity expects to double its headcount over the next three years in an aggressive push for growth.
FutureOn signs digital twin partnership deal, secures £3.3m investment
Energy software firm FutureOn is hoping the formation of a new strategic partnership will allow it to maintain “streamlined and effective” operations.
Schlumberger anticipates ‘exceptional growth cycle’ amid profits boost
Schlumberger (NYSE: SLB) enjoyed a boost to profits in the third quarter as the oilfield services giant plans to “close 2021 with strong momentum”.
Halliburton results show ‘effectiveness’ of strategy as company reports profits of £596m
Halliburton’s chief executive has praised the “effectiveness” of its “strategy and execution” after the company reported a healthy balance sheet.
International demand for its oilfield technology boosts revenue at north-east firm Tendeka
Bosses at oilfield services firm Tendeka are toasting new international contracts worth more than £22 million for work over the next three years.
Oilfield services firm Expro unveils narrower losses ahead of tie-up with Frank’s
UK-based energy services firm Expro has delivered its last set of results before its "merger" with Dutch rival Frank’s International.
Baker Hughes trims losses in second quarter
Baker Hughes trimmed its losses in the second quarter as drilling activity continued to rebound from the pandemic-driven oil bust.
Halliburton strategy ‘working well’ says CEO as company posts healthy H1 profits
Halliburton’s chief executive says the company’s strategy is “working well” after a relatively healthy financial start to the year.
Baker Hughes’ new North Sea OFS boss sets out decarbonisation objectives
Baker Hughes’ new North Sea vice president for oilfield services (OFS) has made decarbonising operations one of her key priorities.