Business/economics
Proposed and final notices of sale represent nearly 80 million acres in the Gulf of Mexico and approximately 1 million acres in Alaska’s Cook Inlet.
The US and UK sanctioned Russian independent Lukoil International and state-owned Rosneft in a bid to pressure Russia over Ukraine.
Ranger acquires American Well Services for $90.5 million, adding 39 workover rigs and boosting its fleet by 25%.
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Baker Hughes, a GE company, (BHGE) and C3.ai announced a joint venture agreement that brings together BHGE’s fullstream oil and gas expertise with C3.ai’s unique artificial-intelligence software suite to deliver digital transformation technologies and drive productivity for the oil and gas industry. -
Wood secured two new contracts from Equinor for onshore and offshore facilities in Norway.
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New analysis from Rystad Energy shows service companies are beginning to raise prices after seeing a significant drop following the oil price downturn. Pricing power is projected to keep rising in 2020 as the service industry sees more demand across the supply chain.
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Reports 20 June that Iran shot down a US Navy drone over the Strait of Hormuz—the global oil market’s most critical transit point—exacerbated tensions in the region following a pair of attacks on oil tankers in the Gulf of Oman just a week earlier.
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Ranking places US ahead of Saudi Arabia and Russia.
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Trade tensions and economic sentiment take a toll.
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Cost inflation and volatile commodity prices pose threats to sustained financial improvements.
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The facility will serve as a hub to support customers and projects in the Angola and Southern Africa region.
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Infinity Oilfield Services and Medserv have formed a new joint venture named InMedCo to provide a portfolio of specialized technical services to the oil and gas market.
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First cargo from the world’s largest floating LNG project comes in the midst of low LNG prices sparked by a global supply boost. Prelude is expected to produce 3.6 mtpa for Shell.
