21 July
US-based energy company Chevron has signed a definitive agreement to acquire Noble Energy in an all-stock transaction valued at $5bn. If approved, the deal will be the biggest oil deal since the Covid-19 crisis crushed crude prices. The acquisition will bolster Chevron’s footprint in US shale and will help the company enter Israel energy market with a stake in Leviathan field.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Australia’s Oil Search has registered a total revenue of $625.6m in the first half of this year, a 19% fall from $777m registered in the same six-month period a year ago. The Papua New Guinea-focused company also noted to have completed an organisational review to trim costs, a move that will result in 34% reduction in global workforce by the end of this year.
Australian energy company Santos has announced that it expects to book a non-cash impairment charge between $700m and $800m before tax in its 2020 half-year results. The move is planned as the company downgraded oil price assumptions following the Covid-19 pandemic that crushed crude prices. The results are due next month.
US-based oil field services provider Halliburton Company has reported a net loss of $1.7bn for the second quarter of 2020. This comes after the company registered a net loss of $1bn in the first quarter. Adjusted net income in the three month period that ended in June 2020 was $46m, while total revenue amounted $3.2bn.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
