Schlumberger Posts $10B Loss in 2019

Industry Headlines

Oil Prices Nearly Flat for the Week
Friday, January 17, 2020 WTI and Brent crude oil futures posted small gains Friday but are down slightly for the week.

US Adds 15 Oil, Gas Rigs
Friday, January 17, 2020 The U.S. rig count increased for the first time this year as the nation added 14 oil rigs and one gas rig.

Oil Heads for Weekly Drop Amid Demand Concerns
Friday, January 17, 2020 Oil is headed for a weekly drop amid persistent demand concerns.

Oil Companies Face Serious Decisions on Iraq
Friday, January 17, 2020 Many oil and gas companies face serious decisions regarding their short and mid-term plans in Iraq, according to Rystad Energy.

Microsoft to Invest $1B to Help Reduce Carbon Footprint
Thursday, January 16, 2020 Microsoft unveiled plans to invest $1 billion to back companies and organizations working on technologies to remove or reduce carbon from the earth's atmosphere.

OGA Says Social License to Operate Under Threat
Thursday, January 16, 2020 The chairman of the UK's Oil and Gas Authority said the oil and gas industry's social license to operate is under serious threat.

US-China Phase One Trade Deal Reaction
Thursday, January 16, 2020 The API, WoodMac and Stenn Group give their reaction to the phase one trade deal.

Heavy Crude Freezing Solid in Western Canada
Thursday, January 16, 2020 Temperatures of -30 degrees Celsius and lower have descended on Alberta and Saskatchewan - cold enough to render the region's viscous oil rock solid.



Angola's Oil Drilling Ramps Up
Friday, January 17, 2020 Angola's ailing oil industry got a shot in the arm this week, with Eni SpA and Total SA both showing their commitment to the OPEC producer.

First Shafag-Asiman Expl. Well Spudded Offshore AZ
Friday, January 17, 2020 BP announced this week that the first exploration well was spudded on the Shafag-Asiman offshore block in the Azerbaijan sector of the Caspian Sea.

Total to Drill World's Deepest Offshore Well in Angola
Wednesday, January 15, 2020 Total SA will drill the world's deepest offshore well in Angola, in waters more than 2 miles deep, as the African country works to reverse years of declining output.

Offshore Senegal Project Advances
Thursday, January 09, 2020 The 23-well Sangomar Field Development offshore Senegal just moved one step closer to getting underway.

Offshore Contractors Primed For a Busy 2020
Wednesday, January 08, 2020 Some industry insiders have doubts about whether there is sufficient contractor capacity to deal with the expected volume of business.

Apache and Total Hit Oil Pay Offshore Suriname
Tuesday, January 07, 2020 Apache and Total on Tuesday reported a significant oil discovery on Block 58 offshore Suriname - and adjacent to Guyana's Stabroek Block.

Repsol to Abandon Offshore Guyana Well
Thursday, January 02, 2020 Tullow exec says oil discovery has positive implications for Kanuku and Orinduik blocks, though.



IEA Says Iraq Oil Supplies Vulnerable
Thursday, January 16, 2020 Oil supplies from Iraq are 'potentially vulnerable' amid rising political risks in the country and the broader region, the International Energy Agency warned.

Norway Offers 69 Production Licenses in APA 2019
Wednesday, January 15, 2020 The Norwegian Ministry of Petroleum and Energy has offered 69 production licenses on the Norwegian Continental Shelf as part of its latest licensing round - APA 2019.

New Gas Finds Creating Opportunity in West Africa
Wednesday, January 15, 2020 It is expected that many of the gas discoveries will help displace oil as a source of more sustainable fuel in the regional mix.

Experts Insist Permian Output is Approaching a Peak
Tuesday, January 14, 2020 Over the past five years, has the industry and its investors mistaken a massive structural change for a simple cyclical event?

SapuraOMV Achieves First Gas from Larak Field Offshore Malaysia
Monday, January 13, 2020 SapuraOMV Upstream has achieved within budget first production from its Larak gas field offshore Malaysia under the SK408 Production Sharing Contract (PSC).

Gulf of Mexico Hits Record Daily Production
Tuesday, January 07, 2020 The U.S. Gulf of Mexico made history in August as it exceeded oil production of 2MMbopd, according to the U.S. Bureau of Safety and Environmental Enforcement.


Finance and Investing

US Renewable Investment Hit a Record in 2019
Thursday, January 16, 2020 The U.S. renewable energy industry doesn't seem to take much notice of President Donald Trump's views on green energy and climate change as investments surged to a record last year.

Oil, Gas Supermajors Living Beyond their Means
Thursday, January 16, 2020 Some of the world's largest oil and gas companies are shelling out more to their shareholders than they can afford, according to a new report.

New Offshore Investment Cycle in the Making
Wednesday, January 15, 2020 Telltale signs have emerged that we are entering a new offshore investment cycle, according to Rystad Energy.

Rosenberg Says Energy Shares are Downright Cheap
Tuesday, January 14, 2020 Energy stocks are cheap among S&P 500 peers, and there's already plenty of bad news baked into the sector, according to David Rosenberg.

Lekoil Sinks After Falling Victim to Alleged Scam
Tuesday, January 14, 2020 Lekoil sank to a record low in London trading after falling victim to an alleged scam.

Is Chevron's $11B Write-Down an Oilpatch Warning?
Tuesday, January 14, 2020 Current market conditions are resulting in many US fracking projects failing to break even.


Company Operations

Schlumberger Posts $10B Loss in 2019
Friday, January 17, 2020 Schlumberger posted a $10.1 billion loss in 2019 amid North America land market weaknesses.

China Energy Leaders Set for Shake-Up
Friday, January 17, 2020 Top executives at China's leading energy companies are set for a power shake-up as the nation takes steps to reorganize and revamp its leadership and energy infrastructure.

Keppel Infrastructure Acquires 20% Stake in MET Group
Thursday, January 16, 2020 Keppel Corporation Limited subsidiary Keppel Infrastructure has completed its acquisition of a 20 percent stake in European energy company MET Group.

Tullow to Take $1.5B Charge
Wednesday, January 15, 2020 Tullow Oil expects to take a charge of $1.5 billion when it reports 2019 results.

Encana Investors Approve US Move
Tuesday, January 14, 2020 Encana Corp. won investors approval to relocate to the U.S. and change its name to Ovintiv, a plan that has dented morale in Canada's beleaguered energy industry.

Total Moves London Cash-Management Team to Paris
Tuesday, January 14, 2020 Total is relocating a key part of its finance operation from London to Paris less than a month before Britain leaves the European Union.