21 May

Oilfield services provider Halliburton has trimmed its quarterly dividend by 75% as the company seeks to bolster its capital flow amid the Covid-19 pandemic. The company announced a 2020 second-quarter dividend of $0.045 a share, while its board of directors approved a 20% voluntary reduction to their annual retainer.

Oil exploration and drilling activities have been suspended in Angola due to the impact of the Covid-19 pandemic, Reuters reports. French firm Total, which manages around 50% of the country’s oil output, told the news agency that it has halted drilling activity in Angola. Other operators have also suspended drilling operations.

The US Government has postponed an auction of oil and gas leases in New Mexico, at a time when the oil industry is struggling with the impact of Covid-19 pandemic. However, the government did not provide any reason for the move, according to Reuters. The oil and gas lease sale was scheduled to begin on 21 May.

Aberdeen Drilling Consultants (ADC) has introduced a resilience audit that will help oil and gas companies prevent the spread of Covid-19 at offshore installations. The audit will help companies adapt to the new working environment and review the best practices. The audit comes with ADC’s TRAMS digital rig audit management system or is available separately.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.