Arabian Drilling Co., a Saudi oilfield-services company partly held by Schlumberger NV, is preparing an initial public offering that could give it a valuation of around $2 billion, according to people familiar with the matter.
Chesapeake Energy Corp., the once mighty shale explorer that exited bankruptcy earlier this year, is seeking to sell oil-producing assets in South Texas for as much as $2 billion, according people familiar with the plan.
Norwegian oil firm Equinor has, with its partners, decided to develop the Askeladd Vest field, located in the southern Barents Sea, off Norway. The investment is close to NOK 3.2 billion (~$385 million).
Norway's Equinor, with partners Petoro, Shell, Total, and ConocoPhillips, has decided to electrify the Troll West field offshore Norway and has submitted the plan for development and operation to the Norwegian minister of petroleum and energy.
Equinor has selected Fugro to perform a deepwater site investigation in Canada’s Flemish Pass, 500 kilometers off the coast of St John’s, In an unprecedented year for the oil and gas industry, oil production declined by 8% in 2020, while global gas flaring reduced by 5%, according to satellite data compiled by the World Bank’s Global Gas Flaring Reduction Partnership (GGFR).
Equinor has selected Fugro to perform a deepwater site investigation in Canada’s Flemish Pass, 500 kilometers off the coast of St John’s, Newfoundland and Labrador, in approximately 1200-meter water depths.
China Petroleum & Chemical Corp swung to a first-quarter profit from a loss a year earlier, with net income reaching 18.54 billion yuan ($2.86 billion), amid a recovery in global oil prices and robust demand for refined oil products.
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