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
Exploration
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)
New licensed onshore acreage is likely to fall by about 30 per cent: Rystad Energy
More than half of the world’s planned licensing rounds are likely to be cancelled this year due to the combined effect of the COVID-19 pandemic and the ongoing oil price war, a Rystad Energy impact analysis forecasts
Nigeria to cut crude oil production up to 10 mmbbl
Nigeria has joined other OPEC+ counterparts in a historic curtailment of crude oil production to rebalance and stabilise the global oil markets
South Sudan joins OPEC, Russia, and Saudi Arabia to stabilise oil market
Puot Kang Chol, minister of petroleum of South Sudan, has joined its other OPEC and OPEC+ counterparts to agree on a historic deal to cut 9.7 mmbbl of oil per day of supply starting 1 May
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