The COVID-19 pandemic and the current low-oil-price environment have pushed global exploration and production operators to cut costs, scrapping all but the most vital of their investment plans
Exploration
Total revises capex guidance in the wake of drop in oil prices, says GlobalData
Total’s refining and petrochemical operations have sizeable exposure to COVID-19 affected countries and may experience a fall in capacity utilisation over the near term, said data and analytics company GlobalData
Saipem decides to withdraw 2020 guidance
Italian oil and gas operator Saipem has decided to withdraw its 2020 guidance
Baker Hughes to cut capex and take US$15bn impairment
Energy technology company Baker Hughes has announced that it will take a non-cash goodwill impairment of US$15bn in Q1 2020 and it will cut its 2020 capital spending by 20 per cent, due to low commodity prices and COVID-19 pandemic
Gardner Denver launches VX hydraulic fracturing pump fluid end
Gardner Denver High Pressure Solutions (HPS), a total solutions provider for the drilling, well servicing and frac pumps market, has launched its new, next-generation, cost-efficient fluid end: the Gardner Denver VX Hydraulic Fracturing Pump Fluid End (VX)
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