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Month: November 2020

Tullow completes $575 million sale of Uganda assets to Total

November 10, 2020
| Archives

Tullow Oil plc is pleased to announce that the sale of its assets in Uganda to Total has completed with $500 million consideration received earlier today. Tullow is also due to receive a further $75 million when a Final Investment Decision is taken on the development project plus contingent payments linked to the oil price payable after

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Equinor signs up Baker, Halliburton and Schlumberger for $455 million deal in Santos Basin

November 10, 2020
| Archives

Norway’s Equinor awarded oil services firms Baker Hughes, Halliburton and Schlumberger $455 million worth of drilling and well service contracts at its Bacalhau project off Brazil, the company said on Tuesday. “Brazil is a core area for Equinor, and Bacalhau is an important asset in the Brazilian pre-salt Santos area. Together with our partners, we are currently maturing

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Cenovus to sell Alberta assets to Headwater Exploration

November 10, 2020
| Archives

Cenovus Energy Inc. through a wholly owned partnership, has entered into a definitive agreement to sell its Marten Hills oil assets in northern Alberta to Headwater Exploration Inc. for initial cash and common share equity consideration of approximately $100 million. Total consideration paid to Cenovus consists of $35 million in cash and 50 million common shares of

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Shell to cut over 500 jobs from Singapore refinery

November 10, 2020
| Archives

Royal Dutch Shell will halve crude processing capacity and cut jobs at its Pulau Bukom oil refinery in Singapore as part of an overhaul to reduce its carbon emissions. The refinery on Pulau Bukom, a small island in the Southeast Asian city-state, can process 500,000 barrels per day (bpd) of oil and is Shell’s largest wholly owned refinery

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Update on Aker Solutions merger with Kvaerner

November 9, 2020
| Archives

Reference is made to the previous stock exchange announcements made by Kværner ASA ("Kvaerner") regarding the contemplated merger with Aker Solutions ASA ("Aker Solutions") as further set out in the merger plan dated 17 July 2020 (the "Merger"). The Merger contemplates that Aker Solutions will absorb all the assets, rights and obligations of Kvaerner and that Kvaerner is dissolved. Kvaerner

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Noble preparing to emerge from bankruptcy

November 9, 2020
| Archives

Noble Corporation plc announced Friday that it has changed its name to Noble Holding Corporation plc to allow the ultimate parent company that emerges from the Chapter 11 reorganization to use the name “Noble Corporation plc.” The temporary name change relating to the ultimate parent entity will not affect current shareholders, and no action by shareholders is

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Citi cuts 2021 oil price outlook on COVID-19 concerns

November 9, 2020
| Archives

Citi Research on Monday cut its 2021 oil price forecasts after a larger-than-expected rise in COVID-19 cases but said tighter supply from OPEC and its allies would still lead to a gradual uptick in prices next year. Citi cut its 2021 Brent and West Texas Intermediate crude price outlook by $5 to $54 and $49 respectively. It forecast

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Rig Lynx Weekly Rundown – Top 5 from week 45

November 9, 2020
| Weekly Rundown

Welcome back! If you missed any of the trending articles from last week we got them all here for you to start your week off with For week 45, Nov 1 - Nov 7, we had over 7.1k page views and below are the top 5 News from Noble, Pacific and Borr Have a great week ahead! Borr sells jackup Balder (ex GSF

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India to be key driver of global oil demand in coming decades

November 9, 2020
| Archives

India’s fuel demand has almost recovered to pre-COVID-19 levels and the nation will experience the fastest growth in energy consumption among all large economies in the coming decades, oil minister Dharmendra Pradhan said on Monday. In October local sales of gasoline, gasoil and cooking gas in India, the world’s third biggest oil consumer and importer, rose from year-ago

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