1. Halliburton profits surge on strong demand for oil drilling
Halliburton said on Tuesday its second-quarter adjusted net income surged 41% due to rising drilling activity in North America and international markets, adding that it expects a “multi-year increase” in drilling demand in international markets.
Halliburton is a major provider of hydraulic fracturing services in the United States, with adjusted net income of $442 million for the second quarter of 2022. Driven by high oil prices, the company made the gains despite a $344 million loss as it slashed its assets in Russia due to the Russia-Ukraine conflict.
2. Gazprom and Iran’s National Iranian Oil Company sign $40 billion memorandum of cooperation
The National Iranian Oil Company (NIOC) and Gazprom signed a memorandum of understanding worth about $40 billion on the 19th. Gazprom will assist the National Iranian Oil Company to develop oil and gas fields and build pipelines for LNG projects. The National Iranian Oil Company said it was the largest foreign investment agreement ever signed in the Iranian oil industry.
Under the agreement, Gazprom will help the National Iranian Oil Company develop the Kish and North Pars gas fields, as well as six other fields, and help pressurize the South Pars gas field. In addition, Gazprom will help build liquefied natural gas (LNG) projects and natural gas export pipelines..
3. Equinor restarts production at Brazil’s Peregrino field
Norwegian oil major Equinor announced over the weekend that it will resume production after more than two years of shutting down its Peregrino field offshore Brazil, and will focus on increasing output and reducing emissions intensity.
Peregrino is the largest field Equinor operates outside Norway and the first in a series of major field developments in Brazil. Peregrino Phase 1 remaining reserves estimated at 180 million barrels.
4. Sembcorp Marine wins EPC contract for natural gas platform project
Sembcorp Marine announced recently that its wholly-owned subsidiary Sembcorp Marine Offshore Platforms has been awarded a four-year EPC contract for the engineering, procurement, construction and installation of a natural gas platform project in Australia. But it did not disclose the name of the client or the project.
5. Sonatrach strikes production agreements with TotalEnergies, Occidental and Eni
Algeria’s state-owned oil company Sonatrach has reached an agreement with French oil major totalenergy, Occidental and Italy’s Eni to extend production sharing contracts in onshore blocks in the country’s east for a period of 25 years
Post time: Jul-25-2022