+1(833) 396-4204 info@riglynx.com
Menu

Archives

Occidental is sued by shareholders, bondholders over Anadarko merger

May 27, 2020
| Archives

Occidental Petroleum Corp has been sued by investors who claim they suffered billions of dollars of losses because the heavily indebted company concealed its inability to weather plunging oil prices, after paying $35.7 billion to acquire Anadarko Petroleum Corp. The proposed securities class action was filed late Tuesday in a New York state court in Manhattan on behalf

Read More...

Chevron may eliminate up to 15% of workforce

May 27, 2020
| Archives

Chevron is planning a 10% to 15% reduction in its global workforce this year, the biggest cut to headcount yet among global oil majors following the Covid-19 pandemic. The company aims to reduce costs to ride out the worst crude-price crash in a generation. Among other big oil companies, BP Plc is reducing senior management roles ahead of

Read More...

The DH350 from Epiroc: a step change in drilling rig mobility

May 27, 2020
| Archives

Epiroc, a leading productivity partner for the mining and infrastructure industries, introduces DH350, the first of a new line of oil and gas drilling rigs that delivers advanced performance for customers who want the very best in an oil and gas machine. The Epiroc DH350 challenges conventional rig design while offering advantages of Tier-1 class drilling rigs

Read More...

How to prepare a ship for Layup

May 26, 2020
| Archives

With the recent dip in oil prices, like many drilling contractors, ship owners have had to stack or Layup vessels. It is always a big decision to layup a vessel.  But with recent market conditions many oil exploration companies with marine fleets have had to Layup vessels until the market improves. “Laidup” or “Layup” of a ship technically means

Read More...

BPC replaces Seadrill with Stena DrillMax Ice for Exploration in Bahamas

May 26, 2020
| Archives

Consistent with this revised operational objective, BPC, on 24 May 2020, entered into an agreement with Stena DrillMax Ice Limited ("Stena"), a wholly-owned subsidiary of Stena Drilling Limited, one of the world's foremost independent drilling contractors, for the provision of a sixth-generation drilling rig (the "Rig Contract"). The Rig Contract is fully termed, binding and unconditional, and

Read More...

Low oil prices will take demand beyond pre-crisis highs experts say

May 26, 2020
| Archives

Global oil consumption hasn’t peaked, the head of the International Energy Agency warned, throwing cold water on hopes the coronavirus will cap demand and reduce climate-changing emissions. “In the absence of strong government policies, a sustained economic recovery and low oil prices are likely to take global oil demand back to where it was, and beyond,” Fatih Birol

Read More...

BP Scales Back Management

May 25, 2020
| Archives

When BP Plc announced its plans to tackle its carbon emissions in February, it overshadowed another big change: Getting rid of the traditional Big Oil corporate structure split between refining and production.Those changes are now pressing ahead as Chief Executive Officer Bernard Looney, in a memo sent to staff on May 14, said his new leadership team

Read More...

Petrobras to auction off 3 production platforms

May 25, 2020
| Archives

Petrobras will hold an electronic international auction in July to dispose of three semi-submersible platforms that operated in the Campos Basin. The units in question are platforms P-7, P-12 and P-15. The virtual bidding is scheduled for July 9 and will take place on the auctioneer João Emílio’s website. The information was released in the Federal Official

Read More...

Oil posts longest run of gains in more than a year

May 23, 2020
| Archives

Oil posted its longest streak of gains in more than a year, buoyed by output cuts across the globe that have whittled away at a stubborn supply glut. Futures climbed 1.3% in New York. U.S. supply data showed crude inventories fell for a second week after climbing steadily since January and stockpiles at the storage hub at Cushing,

Read More...