Here are Rigzone’s top stories during the last week, just in case you missed them…
TechnipFMC Braces for April Layoffs
TechnipFMC will be launching a round of layoffs beginning April 14, according to a recent WARN notice the company sent to the Pennsylvania Department of Labor & Industry in February. According to the notice, the potential number of people affected totals 80 employees at its office at 1100 Evergreene Dr. in Waynesburg, PA.
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US to Sell 12 Million Barrels of Oil as Virus Hits Demand
Bloomberg reported that the U.S. will sell up to 12 million barrels of oil from its emergency government stockpile. The crude would be delivered to U.S. Gulf Coast pipelines in April and May, Bloomberg highlighted.
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Frack Ban Would Cost Up To 7.5MM Jobs in 2022
According to a new economic analysis released by the American Petroleum Institute, banning federal leasing and fracking on public and private lands would cost up to 7.5 million American jobs in 2022 alone, lead to a cumulative GDP loss of $7.1 trillion by 2030 and cut household incomes by $5,400 annually.
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McDermott to Sell Lummus to Private Equity Firms
McDermott International, Inc. plans to proceed with a previously announced $2.75 billion deal to sell its entire Lummus Technology business to a joint partnership of private equity firms: The Chatterjee Group and Rhône Capital.
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Occidental's Anadarko Buy Yields 2019 Loss
Occidental Petroleum's acquisition of Anadarko Petroleum last year resulted in 2019 losses, the company reported late last week. In an earnings release, the company stated it took a hit of $965 million in 2019, versus $4.1 billion in profit the year before. It had to shoulder over $1.3 billion in costs tied to its $38-billion purchase of Anadarko.
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Here’s What’s Coming
Keep an eye out for these articles on Rigzone later today…
- Dominion LNG Growth Strategy Starts in Florida
- ConocoPhillips Divests Niobara and Permian Assets
- BP Azerbaijan Work Goes to Worley
- Blockchain 'Genie' Spreading Offshore
- Equinor, Partners Complete North Sea Well
- Denbury Acquires Working Interest in Texas Oil Fields
- Meritage Doubles Powder River Processing Capacity
To contact the author, email andreas.exarheas@rigzone.com
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