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A Look Back at the Top 10 Articles of 2020

December 29, 2020
| Archives

Listen to "Overtime - Special Broadcast - Look back on 2020" on Spreaker. A Look Back at the Top 10 Articles of 2020 2020 has been a difficult year personally and professionally for many in the industry but we are optimistic going into 2021 as the world comes to grips with COVID-19 and continues to put in place plans and

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Shell Buys 50% Stake in Natural Gas Blocks from Colombia Ecopetrol

December 28, 2020
| Archives

Ecopetrol S.A. hereby informs that it consummated the transaction with Shell previously announced to the market on February 7, 2020, by which Shell, through its subsidiary Shell EP Offshore Ventures Limited ("Shell"), acquired a 50% stake in the Fuerte Sur, Purple Angel and COL-5 blocks, located in the Colombian Caribbean deep water, where a new gas province

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Reliance talks buy out of IMG Worldwide LLC for $7 million

December 28, 2020
| Archives

Indian shares hit a record high on Monday, led by gains in Reliance Industries Ltd and HDFC Bank Ltd, while U.S. President Donald Trump’s approval of a pandemic relief package aided risk sentiment globally. The NSE Nifty 50 index was up 0.68% at 13,842.45 by 0447 GMT, while the S&P BSE Sensex was 0.61% higher at 47,261.09. Both

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UAE sets up supreme council to oversee petroleum and natural resources

December 28, 2020
| Archives

United Arab Emirates President Sheikh Khalifa bin Zayed, in his capacity as the ruler of Abu Dhabi, on Sunday established a Supreme Council for Financial and Economic Affairs that will also oversee matters relating to petroleum and natural resources. The current Supreme Petroleum Council, which regulates petroleum-related policies, will be merged with this new council, the Abu Dhabi

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Borr announces new CFO

December 28, 2020
| Archives

Borr Drilling Limited is pleased to announce the appointment of Mr. Magnus Vaaler as its new Chief Financial Officer, replacing Mr. Christoph Bausch with effect from 28 December 2020. Patrick Schorn, Chief Executive Officer, commented:  “I am pleased to announce Magnus as the new Chief Financial Officer of Borr Drilling. Magnus has been with the company since 2018 and

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Rig Life Christmas Poem

December 25, 2020
| Archives

Some they called him weevil, some they called him worm Some they wouldn't speak to him, figgered he was just short term They told him "Open up that vee door; go to get the key It's in the possum belly, in doghouse number three" Took his turns at floor hand, at first a little green Became the fastest

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Pacific Drilling aims to emerge from bankruptcy by year end

December 23, 2020
| Archives

Pacific Drilling S.A. announced the United States Bankruptcy Court for the Southern District of Texas confirmed the First Amended Joint Plan of Reorganization of Pacific Drilling S.A. and its Debtor Affiliates Pursuant to Chapter 11 of the Bankruptcy Code (the “Plan”) on December 21, 2020. “The Court’s confirmation of our Plan represents an important milestone in our progress towards emergence

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National Oilwell Varco to change its name

December 23, 2020
| Archives

National Oilwell Varco, Inc.  announced plans to change its corporate name to “NOV Inc.”, effective January 1, 2021. The Company’s ticker symbol, “NOV”, will remain unchanged. “Our Company has a long and proud legacy of innovation and technology dating back to the earliest days of the oilfield. We are committed to continuously improving the drilling and production operations of

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China’s oil production to reach 3.87 mbpd

December 23, 2020
| Archives

China’s crude oil production in 2020 is set to reach 194 million tonnes, equivalent to 3.87 million barrels per day, the director of the country’s National Energy Administration (NEA) was reported as saying by the official Xinhua news agency on Tuesday. That would represent a second straight year-on-year rise, a 1.6% increase on the 191.01 million tonnes China

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Cairn wins $1.2 billion arbitration suit against Indian government

December 23, 2020
| Archives

Cairn Energy said on Wednesday it had won an international arbitration case against the Indian government over a tax dispute that had caused concern among investors over retrospective tax claims on companies. The tribunal ruled unanimously that India had breached its obligations to Cairn under the U.K.-India Bilateral Investment Treaty and awarded Cairn damages of $1.2 billion plus

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