11 September
Pelican Energy Partners has signed an agreement to acquire Baker Hughes’ surface pressure control (SPC) flow business. The business comprises wellhead product sales and service, and a rental offering of frac trees, valves and zipper manifolds. This comes as various oil field services are divesting business units amid low drilling activity due to the impact of Covid-19.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
India’s fuel demand plummeted the most in August since April as authorities resort to local lockdowns to check the spread of Covid-19. Last month, petroleum product sales dropped to 14.39 million tonnes, PTI reported citing Petroleum Planning and Analysis Cell (PPAC) data. The figure represents a 7.5% fall compared to July and 16% on a year-on-year basis.
Jadestone Energy, an Asia-Pacific-focussed oil and gas production company, has reported a net revenue of $115.7m for the first half of this year. The figure represents a 33% fall from $171.7m posted a year ago. The fall was attributed to lower oil prices amid Covid-19 pandemic. In the first half of this year, the production was also 8% compared to H1 2019 due to weather downtime and increased maintenance activities among other reasons.
