Unused oil rigs sink Awilco Drilling to losses of £7.5million
A pair of oil rigs lying idle in Invergordon sank Awilco Drilling to losses of £7.5million in the first quarter of 2020.
q1 2020 results
Impairments sink Apache to a £3.6billion loss
US energy firm Apache took a £3.6billion pre-tax loss in the first quarter of the year as the oil price crash hit the value of its assets.
DNO making job cuts ‘in all locations’
DNO, the Oslo-listed exploration firm which took over Aberdeen's Faroe Petroleum, has announced it is reducing staff “in all locations” in response to Covid-19 outbreak and oil price crash.
Equinor’s profits crash by 98% due to oil price slump
Norway’s Equinor saw its profits slide by 98% - a drop of £3.8billion – year-on-year as the Covid-19 pandemic and oil price crash took effect.
Occidental Petroleum takes $1.4 billion writedown, cuts budget on oil rout
Occidental Petroleum Corp. took a $1.4 billion writedown related to an investment in a pipeline affiliate, cut capital spending and withdrew its guidance for the year after a historic collapse in oil prices.
Total barely stays in profit amid ‘economic and oil crisis’, sets 2050 net zero target
Total barely managed to stay in profit for the start of 2020 as oil prices took a nosedive due to the Covid-19 outbreak.
Transocean doubles losses amid oil price crisis
Rig operator Transocean has seen its pre-tax losses more than double year-on-year as it tackles the effects of Covid-19 and the oil price crash.
Impairments sink Valaris to a £2.5billion loss
Rig operator Valaris fell to a £2.5billion pre-tax loss for the first quarter of 2020 due to write-downs on its oil and gas assets.