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Noble Energy sales out to Chevron for $4.2 billion

October 2, 2020
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Noble Energy shareholders on Friday approved a deal to sell the oil and gas producer to Chevron Corp, making Chevron the No. 2 U.S. shale oil producer and giving it international natural gas reserves close to growing markets. The all-stock deal values Noble Energy at around $4.2 billion, excluding $8 billion in debt, and the vote cements the

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Houston’s Oasis Petroleum files for bankruptcy

October 1, 2020
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Oasis Petroleum Inc filed for Chapter 11 bankruptcy protection on Wednesday, the latest U.S. shale producer to seek court-aided restructuring as the energy industry reels under an unprecedented crash in oil prices due to the COVID-19 pandemic. Shares of the company, which earlier this month skipped interest payments on some bonds, fell over 24% premarket. Virus-led lockdowns, which decimated

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Marathon cuts over 2500 employees from California and New Mexico refineries

October 1, 2020
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Marathon Petroleum Corp, the top U.S. oil refiner, is cutting 12% of its workforce amid continued declines in fuel consumption due to the COVID-19 pandemic, it said on Wednesday. Refiners and oil producers have been dismissing staff, slashing spending and reducing production to cope with weak prices and a global glut of fuel. U.S. gasoline futures are down

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Oil major BP terminates 4 employees for improper use of WeChat

October 1, 2020
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BP has terminated four trading and operations staff responsible for Chinese crude oil sales as a result of an internal investigation into trades with Singapore's Hontop Energy, three people familiar with the matter said. The decision was made this week, the people said. The staff had been placed on leave in early July while BP conducted its probe. The

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Baker Hughes lands major LNG deal in Qatar

October 1, 2020
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Baker Hughes announced an order with longtime partner Qatar Petroleum to supply multiple main refrigerant compressors (MRCs) for Qatar Petroleum’s North Field East (NFE) project, executed by Qatargas. The total award is part of four LNG “mega trains,” representing 33 million tons per annum (MTPA) of additional capacity, which will increase Qatar’s total liquefied natural gas (LNG) production capacity from 77 MTPA

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Seadrill extends forbearance agreements

October 1, 2020
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Seadrill Limited announces that it has agreed to extend and/or renew the existing forbearance agreements with certain creditors, announced on 15 September 2020, in respect of the group's senior secured credit facility agreements, senior secured notes, and guarantee facility agreement. Pursuant to the forbearance agreements, as extended, the consenting creditors have agreed not to exercise any voting rights

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VAALCO will 3-D seismic survey the entire Etame Marin block offshore Gabon

October 1, 2020
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VAALCO Energy, Inc. today announced that in connection with planning for future drilling programs at the Etame Marin block offshore Gabon, it will begin acquiring and processing new three-dimensional (“3-D”) seismic data in the fourth quarter of 2020. The Company also announced estimated third quarter 2020 production. Highlights Committed to acquiring new proprietary 3-D dual-azimuth seismic data over the

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Seadrill appoints new CEO

October 1, 2020
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The Board of Seadrill Limited is pleased to announce the appointment of Stuart Jackson as Chief Executive Officer.  Stuart Jackson, currently Chief Financial Officer, will succeed Anton Dibowitz as Chief Executive Officer with immediate effect Following Stuart’s appointment, the role and responsibilities of the Chief Financial Officer will be divided into two new roles: Grant Creed will become Chief

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Eni looks to grab up Indonesia Deepwater Development (IDD) from Chevron

September 30, 2020
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Italy's Eni is expected to take over the Indonesian Deepwater Development (IDD) project as operator Chevron sells its interest in the gas venture, the chairman of the country's upstream oil and gas regulator said on Wednesday. Chevron confirmed in January its plan to sell its 62% interest in IDD project as the company makes global changes to cut

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