Edition:
United Kingdom

Shariq Khan

Halliburton takes $2.2 billion charge on shale slump

21 Jan 2020

U.S. oilfield services firm Halliburton Co. on Tuesday disclosed a $2.2 billion charge to earnings as weakening North American shale activity continued to hit the industry.

Apache shares jump 27% on major discovery in Suriname with Total

08 Jan 2020

Apache Corp and Total SA said on Tuesday they had made a major oil discovery in a closely watched area off the coast of South America's Suriname, sending Apache's shares surging nearly 27%.

Occidental to cut Western Midstream stake to reduce debt

06 Jan 2020

Occidental Petroleum Corp said on Monday it would cut its majority stake in pipeline operator Western Midstream Partners LP to less than 50% in 2020, to reduce its debt that grew significantly with the Anadarko Petroleum Corp deal.

Schlumberger CFO Simon Ayat to be replaced by Stephane Biguet

10 Dec 2019

Schlumberger NV Chief Financial Officer Simon Ayat is stepping down after nearly 12 years in the role and will be replaced by second-in-command Stephane Biguet, the top oilfield services provider said on Tuesday.

Halliburton lays off 70 employees at Bakersfield plant in California

06 Dec 2019

Halliburton Co is laying off employees at its Bakersfield plant in California in its latest round of job cuts this year, as the U.S. oilfield services firm struggles with falling profits amid slowing oil and gas activity.

Exclusive: Chevron CEO plans major cost-cutting overhaul of production teams - sources

23 Nov 2019

Chevron Corp Chief Executive Michael Wirth is preparing sweeping changes at the No. 2 U.S. oil and gas company that would cut costs and streamline operations in a drive to boost profitability, according to people familiar with the matter.

ProPetro confirms U.S. SEC probe, accounting weaknesses

13 Nov 2019

Oilfield services firm ProPetro Holding Corp on Wednesday said a board investigation had uncovered material weaknesses in its financial controls and an undisclosed related-party transaction with its former chief accountant.

Slumping Canadian oil province Alberta loses producer Encana, moves to boost rail shipping

31 Oct 2019

Canada is losing the headquarters of major oil and gas producer Encana Corp to the United States, the latest blow to an industry crippled by a pipeline shortage, even as the Alberta government moved to stimulate crude shipping by rail.

WRAPUP-Slumping Canadian oil province Alberta loses producer Encana, moves to boost rail shipping

31 Oct 2019

Oct 31 Canada is losing the headquarters of major oil and gas producer Encana Corp to the United States, the latest blow to an industry crippled by a pipeline shortage, even as the Alberta government moved to stimulate crude shipping by rail.

Encana to move to U.S., change name amid pipeline crunch in Canada

31 Oct 2019

Encana Corp will shift base from Calgary to the United States and become Ovintiv Inc next year, the oil and gas producer said on Thursday, the latest company to move away from Canada as the nation battles with pipeline capacity shortages.

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