Italian oil and gas operator Saipem has decided to withdraw its 2020 guidance
Exploration
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)
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