Halliburton

Sentiments are clearly improving amongst the hard-hit oilfield service companies who all saw revenue grow in the fourth quarter of last year.

Oilfield services provider Halliburton said that it would set greenhouse-gas emission reduction targets in line with what the latest climate science outlines is necessary to meet the goals of the Paris Accord.

The oilfield service company said it expects to set emissions-reduction targets by next year to meet the goals of the Paris Accord.

A recent panel discussion highlighted the industry’s progress in achieving significant digital advances. Barriers remain, however, and the measurement of success is being defined in this evolving technological step change.

The software solution aims to improve operational efficiency and production from subsurface to processing facilities in four offshore fields.

The companies say they expect the alliance to provide an integrated, open-architecture software platform designed to maximize asset potential.

Providing a kick start for nascent companies developing clean energy technologies, Halliburton launched its innovation lab, Halliburton Labs. Its first participant is a nanomaterials company developing fireproofing and insulation technology.

The 5-year effort will take advantage of Microsoft technologies in machine learning, augmented reality, user interactions, and the industrial Internet of things to deliver integrated solutions to the upstream industry.

With US oil prices struggling to top $25, oil companies and service providers are making deeper cuts this month to cope. The biggest come from Halliburton which may have shed 5,000 total jobs since the start of the year.

While many shale producers are racing to cut costs by removing crews from the field, ExxonMobil and Chevron stood out as maintaining large numbers of fracturing crews.