BP has been told by a New Orleans court that it must keep to the agreement it originally made with businesses compensated for the losses sustained in the oil-spill disaster of 2010. The oil giant tried to argue that some of the subsequent loss claims were excessive and over-estimated, saying that a flawed calculation formula for assessing compensation amounts meant that almost 800 firms were able to over-estimate their claims.
Diamond Offshore announced in its second quarter results that it has decided to cold stack one semi-submersible drilling rig and one jack-up rig as well as scrap two semi-submersible rigs.
Transocean announced it has acquired two drillships and one semi-submersible rig following the acquisition of its subsidiary, Transocean Partners.
ExxonMobil announced estimated second quarter (Q2) earnings of US$1.7 billion (£1.28 billion) compared to US$4.2 billion (£3.1 billion) in the same period in 2015.
Golar LNG and Schlumberger announced today the creation of a joint venture (JV) to accelerate the development of low gas reserves to LNG
ExxonMobil has successfully acquired gas explorer InterOil after a US$2.5 billion (£1.88 billion) bid that was not countered by rivals Oil Search and Total.
Nexen Energy is to cut 350 workers at Long Lake and Calgary headquarters throughout this year, following the decision not to resume its oil sands operations