Trump told his negotiators to stop discussions with Democratic leaders just hours after Federal Reserve Chair Jerome Powell stepped up his call for more spending to avoid damaging the economic recovery. SourceContinue Reading
Caterpillar Inc. has signed an agreement to acquire the Oil and Gas Division of the Weir Group PLC, a Scotland-based global engineering business. Headquartered near Fort Worth, Texas, Weir Oil and Gas produces a full line of pumps, flow iron, consumable parts, wellhead and pressure control products. SourceContinue Reading
NOV recently delivered the world’s longest and heaviest coiled tubing work string, which comprised 7.57 miles of continuously milled carbon steel tubing. SourceContinue Reading
The world’s largest owner of deep-water oil rigs recently engineered a bond swap to trim some of its $9 billion debt load and ease the crunch caused by slumping energy prices. But other creditors say the transaction amounts to a default because it pledges assets that Transocean already promised to them. SourceContinue Reading
Boris Johnson’s plan to quadruple the size of the UK offshore wind industry will require $58 billion of investment and careful management of what’s a tricky building process in some of the world’s roughest waters. SourceContinue Reading
Crude started the week by getting swept up in a broader market relief rally, and was aided by a strike in Norway that has shut fields and is curbing flows. SourceContinue Reading
The deal marks the end of the road for one of the oldest independent oil explorers. After years laboring under a mountain of debt Premier has bowed to pressure from creditors, with CEO Tony Durrant abandoning his plan to acquire some of BP’s North Sea assets and agreeing to step down. SourceContinue Reading
“Proceeds will be used to fund our world class investment opportunity in Guyana,” CEO John Hess said. “This sale is aligned with our strategy to preserve cash and preserve the long term value of our assets in the current low oil price environment.” SourceContinue Reading
Planning documents show for the first time that Exxon has carefully assessed the direct emissions it expects from the seven-year investment plan adopted in 2018 by CEO Darren Woods. SourceContinue Reading
The collapse in oil demand and prices spurred the fastest rate of oil- and chemical-industry layoffs in history, with about 107,000 jobs eliminated between March and August, Deloitte said in a study scheduled to be released Monday. SourceContinue Reading
