Company Operations News for East & South Africa


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Petrofac Cutting Salaries and Staff Share your comments
Monday, April 06, 2020Petrofac Limited announced Monday that it is taking decisive actions to improve its cost competitiveness and protect the long-term health of its business.

Wood Significantly Adjusts Cost Base Share your comments
Friday, April 03, 2020Wood announced Thursday that it is taking action to 'significantly' adjust its cost base in anticipation of a reduction in activity levels.

Polarcus Cuts Jobs and Salaries Share your comments
Wednesday, April 01, 2020Polarcus Limited has announced a $15 million cost reduction plan following the coronavirus outbreak and recent oil price crash.

BP CEO Says Staff Jobs Safe For at Least Three Months Share your comments
Monday, March 30, 2020CEO Bernard Looney made the promise in a live webcast to about 7,000 employees from his apartment in London.

BP Foundation Donates $2MM to Pandemic Fight Share your comments
Friday, March 27, 2020The BP Foundation is donating $2 million to the World Health Organization's Covid-19 Solidarity Response Fund.

Equinor Launches $3B Action Plan Share your comments
Thursday, March 26, 2020Equinor revealed Wednesday that it has launched a $3 billion action plan to strengthen its financial resilience in 2020.

Seadrill Re-Hires Houlihan Share your comments
Thursday, March 26, 2020Billionaire John Fredriksen's Seadrill Ltd. re-hired long time adviser Houlihan Lokey Inc. to engage in fresh talks with lenders, people familiar with the situation said.

Chevron Cuts Spending by $4B Share your comments
Tuesday, March 24, 2020Chevron became the latest oil company to take an ax to its budget.

Shell Tightens Belt Amid Pandemic Share your comments
Monday, March 23, 2020Shell has embarked on a series of operational and financial initiatives that are expected to contribute $8-9 billion of free cash flow on a pre-tax basis.

Tenaris Cutting 900+ Employees Share your comments
Monday, March 23, 2020Tenaris is cutting more than 900 employees in the United States due to the sharp decline in the price of oil.

Exxon Looks to Significantly Reduce Spending Share your comments
Tuesday, March 17, 2020ExxonMobil is looking to significantly reduce spending due to the market conditions caused by the COVID-19 pandemic and commodity price decreases.

Ineos Takes Virus Action Share your comments
Monday, March 16, 2020Ineos Group has announced a series of measures to protect employees following the outbreak of the coronavirus.

Apache Responds to Low Oil Prices Share your comments
Friday, March 13, 2020Apache Corporation has announced multiple actions in response to the current oil price environment.

Petronas, Exxon to Divest Stakes in Chad Project Share your comments
Thursday, March 12, 2020The combined holdings of both oil companies could be worth over $1 billion.

Wood Makes Exclusive Tech Deal with Shell Share your comments
Thursday, March 12, 2020The deal applies to a slug suppression device for pipeline-riser systems.

Weir to Become Mining Tech Pure Play Share your comments
Thursday, February 27, 2020Weir Group plc has announced that its focus is now on becoming a mining technology pure play.

Repsol Profit Misses Estimates Share your comments
Thursday, February 20, 2020Repsol SA reported fourth-quarter earnings that missed estimates as a weaker refining and chemicals business and a drop in crude prices had a larger impact than expected.

CGG Exits Land Seismic Business Share your comments
Wednesday, February 19, 2020The company has embarked on a strategic transition.

TGS Appoints New CFO Share your comments
Tuesday, February 18, 2020TGS has appointed Fredrik Amundsen as its new chief financial officer.

Transocean Ups Backlog by $366MM Share your comments
Monday, February 17, 2020Transocean reported that it has added 10 contracts since last October.

TechnipFMC Expects $2.4B Impairment Charge Share your comments
Wednesday, February 12, 2020TechnipFMC has revealed that it expects approximately $2.4 billion of non-cash asset impairment charges to impact its results in the fourth quarter.

New BP CEO Sets Out Plan Share your comments
Wednesday, February 12, 2020BP pledged to achieve net-zero carbon emissions from its oil and gas operations and production by 2050.

Ineos Teams Up with F1 Team Share your comments
Tuesday, February 11, 2020Ineos has teamed up with the Mercedes-AMG Petronas Formula One team through a new principal partnership.

BP Downstream Chief to Move On Share your comments
Monday, February 10, 2020Tufan Erginbilgic, the chief executive of BP plc's Downstream segment since 2014, has decided to leave the company at the end of next month.

Total Profit Beats Estimates Share your comments
Thursday, February 06, 2020Total SA's fourth-quarter profit beat even the highest estimate as record production offset the impact of slumping natural gas prices and strikes at its French oil refineries.

BP Shines in Oil Industry Gloom Share your comments
Tuesday, February 04, 2020BP's fourth-quarter profit beat analyst estimates and the company increased its dividend slightly.

Ocean Infinity Launches Pioneering New Company Share your comments
Tuesday, February 04, 2020Ocean Infinity has announced the launch of a new, 'pioneering' marine technology and data company called Armada.

Americas Contracts Go to DOF Subsea Share your comments
Thursday, January 30, 2020DOF Subsea reported Wednesday that it has won contracts from undisclosed clients for projects from Canada to the Caribbean.

Shell Hits 2-Year Low Share your comments
Thursday, January 30, 2020Royal Dutch Shell Plc fell to the lowest in more than two years after it scaled back share buybacks.

Ammonia-Fueled Supply Vessel on the Drawing Board Share your comments
Friday, January 24, 2020Equinor announced Thursday that the world's first carbon-free ammonia-fueled supply vessel is on the drawing board.

TechnipFMC Split Well on Track Share your comments
Tuesday, January 21, 2020TechnipFMC has announced that its planned transaction to separate into two companies is 'well on track' for completion in the first half of 2020.

BP CFO To Retire Share your comments
Tuesday, January 21, 2020The board of BP announced Tuesday that its chief financial officer, Brian Gilvary, has decided to retire from the company and step down from the BP board on June 30.

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

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

Transocean Contract Backlog Grows by $353MM Share your comments
Wednesday, January 08, 2020New contracts make up two-thirds of additional backlog since October.

Rigzone Reveals Most Wanted Oil, Gas Skills of 2019 Share your comments
Thursday, January 02, 2020Rigzone spotlights the most frequently posted skills for all jobs on our website in 2019.

Saipem Bags Drilling Deals Worth $1.7B Share your comments
Friday, December 27, 2019Saipem's onshore and offshore drilling divisions have been awarded new contracts, and extensions to existing contracts, worth approximately $1.7 billion.

Sembmarine Bags Two Deals Worth $400MM+ Share your comments
Thursday, December 26, 2019Sembcorp Marine Offshore Platforms Pte. Ltd. clinches two offshore platform contracts worth over $405 million.

Damen Shipyards Group Appoints New CEO Share your comments
Monday, December 23, 2019Damen Shipyards Group revealed Monday that Arnout Damen will become the new CEO of the business.

Shell Keeps Spending Constrained Share your comments
Friday, December 20, 2019Royal Dutch Shell expects capital expenditure to be near the lower end of the $24 billion to $29 billion range in 2019.

SLB Makes GHG Emission Reduction Commitment Share your comments
Friday, December 20, 2019Schlumberger has committed to setting a 'science-based' target to reduce its greenhouse gas emissions.

Shell Signs $10B Revolving Credit Facility Share your comments
Friday, December 13, 2019The new facility replaces Shell's existing $8.84 billion revolving credit facility and is provided by a syndicate of 25 banks.

Aramco Set to Pay Banks $64MM for Record IPO Share your comments
Friday, December 13, 2019Saudi Aramco is poised to pay a combined $64 million to the banks that arranged the world's largest initial public offering.

Tullow CEO Resigns Share your comments
Monday, December 09, 2019Paul McDade has resigned from the Tullow board by mutual agreement and with immediate effect.

Solstad Announces Several Contract Awards in Dec Share your comments
Friday, December 06, 2019Solstad Offshore ASA has announced several contract awards this month already.

Fredriksen Leaves Seadrill Board Share your comments
Thursday, November 21, 2019Billionaire John Fredriksen steps down as chairman of Seadrill.

Siemens CEO Looks to Shake Things Up With Energy Spinoff Share your comments
Wednesday, November 20, 2019Siemens AG aims to shed about 75% of its struggling power and gas unit in one of the most radical moves to date by CEO Joe Kaeser to untangle the sprawling conglomerate and try to boost its valuation.

Oil, Gas Boys Club of CEOs Sees Woman Join Its Ranks Share your comments
Wednesday, November 13, 2019The male-dominated club of oil and gas chief executives just received a new female member.

TechnipFMC Announces Intent to Sell Vessel Share your comments
Wednesday, November 13, 2019TechnipFMC has announced its intent to sell the G1201 vessel.

Oil Majors' Carbon, Portfolio Changes Offer Long-Term Positives Share your comments
Wednesday, November 13, 2019Both BP and Royal Dutch Shell recently shared downbeat financials but their long-term objectives are a silver lining.

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