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Chevron CEO Mike Wirth praises Texas, bemoans California home

Chevron CEO Mike Wirth praises Texas, bemoans California home

Chevron may be based in California, but CEO Mike Wirth had little praise for the state as he lauded the Texas business environment. The Supreme Court of Canada has rejected a request to review a decision of the Court. Chevron Corporation has established new goals to reduce net greenhouse gas (GHG) emission intensity. In the...

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Dolphin Drilling lands semisub contract with Shell

Dolphin Drilling lands semisub contract with Shell

Global contractor Dolphin Drilling has secured further work for its Borgland Dolphin semi-submersible drilling rig. The oil rig has left a £50,000 cash donation. Olsen Energy ASA, has entered into a contract for the provision. The company has won a contract with AS Norske Shell in Norway to provide rig support. The majority lenders under...

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PESA Argentina chapter debuts in Buenos Aires

PESA Argentina chapter debuts in Buenos Aires

United States Ambassador to Argentina Edward Prado welcomed PESA to his residence in Buenos Aires. The PESA West Texas Steering Committee conducted a school supply drive for local schools in August. PESA in welcoming new Member Companies ProFrac Services, Tomahawk Safety. After a welcome and overview of the oil and gas industry dynamics in Argentina...

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DNV GL seeks to close gap between risk analysis and “digital twins”

DNV GL seeks to close gap between risk analysis and “digital twins”

DNV GL proposes the “Probabilistic Digital Twin” (PDT) to close the gap between digital twins. DNV GL and TenneT sign 4-year framework agreement for project certification. Apache Corporation has awarded DNV GL a new verification services contract. The shipping industry is looking to take advantage of additive manufacturing. DNV GL has established a Renewables Certification...

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Putin’s budget has lowest break-even oil price in over a decade

Putin’s budget has lowest break-even oil price in over a decade

Oil prices may be recovering, but Russian President Vladimir Putin isn’t taking any chances. On August 10, opposition supporters held a mass protests in the Russian capital. Russia’s President Vladimir Putin has urged the United States to begin new arms talks. Russian President Vladimir Putin has taken a step towards cooling tensions with Georgia. It’s...

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Iran oil tanker released by Gibraltar, setting up race with the U.S

Iran oil tanker released by Gibraltar, setting up race with the U.S

Iran is racing to return an oil supertanker to international waters. The captain of an Iranian tanker seized in Gibraltar, provoking a diplomatic crisis between Tehran and London. The ship, the Grace 1, had been held in Gibraltar after British forces detained it last month. Iran on Sunday called Britain’s seizure of an Iranian oil...

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Venezuela importing the most fuel since U.S. sanctions started

Venezuela importing the most fuel since U.S. sanctions started

Venezuela is importing fuel at a rate not seen since the U.S. imposed crippling sanctions on the country. A Chinese contractor has agreed to shore up Venezuela’s derelict refining network to ease fuel shortages. US imposed sanctions on Venezuelan individuals linked to Maduro’s government. US President Donald Trump has signed an executive order imposing an...

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Cenovus Energy reaches production milestone in northern Alberta

Cenovus Energy reaches production milestone in northern Alberta

Cenovus Energy Inc. has announced that on July 10, 2019, the company reached 1 Bbbl of cumulative production. Company delivered strong operating and financial performance in the first quarter of 2019. Company remains committed to increasing shareholder value. Company generated more than $700 million of free funds flow. Company signed three-year deals with major rail...

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Weatherford completes sale of surface data logging business

Weatherford completes sale of surface data logging business

Weatherford International plc has announced it has completed the sale of its surface data logging business. The market expects Weatherford International to deliver a year-over-year increase in earnings on lower revenues. Weatherford International plc WFT recently completed its previously announced transaction with ADES. Weatherford International plc WFT posted fourth-quarter 2018 adjusted loss of 14 cents...

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Chevron beats earnings estimates with cuts to operating expenses

Chevron beats earnings estimates with cuts to operating expenses

Chevron beat analysts’ estimates for the first quarter. Chevron Corporation reported earnings of $2.6 billion per share. The Supreme Court of the Netherlands has ruled in favor of Chevron Corporation (NYSE: CVX). Chevron Corporation (NYSE: CVX) announced that it has entered into a definitive agreement with Anadarko Petroleum Corporation. Chevron Corporation (NYSE: CVX) announced expectations...