International

Weatherford C-suite leaders step up as CEO McCollum leaves the company

HOUSTON - Weatherford International announced that Mark A. McCollum, President, CEO and a director, has left the company, effectively immediately. Karl Blanchard, executive vice president and COO, and Christian Garcia, executive vice president and CFO, will form the Office of the Chief Executive, reporting directly to the board of directors and will oversee the day to day operations. The board of directors has initiated a search to identify a permanent President and CEO and will work with a leading executive search firm to assist in the process.

Oil prices stumble as Saudis set end date for new OPEC+ cuts

Oil traded near $42 a barrel in London after OPEC and its allies agreed to extend historic output curbs by an extra month, but Saudi Arabia signaled it wouldn’t continue with additional, deeper curbs after June.

Saudis Make Biggest Oil Price Hike in 20 Years After OPEC+ Cuts

Saudi Arabia made some of the biggest price increases for crude exports in at least two decades, doubling down on its strategy to bolster the oil market after OPEC+ producers extended historic output cuts.

China Begins Consolidation Of $100+ Billion Oil & Gas Pipeline Industry

China has required the three biggest state-held oil corporations to transfer the management of half of their liquefied natural gas (LNG) terminals to the newly created state-controlled midstream firm, Caixin Global reported, citing industry insiders.

Shell faces spending scrutiny after dividend cut

Shareholders push for clarity on strategy following slashed payout

OPEC+ Agrees to Extend Output Cuts as Cheats Offer Penance

OPEC+ agreed to a one-month extension of its record output cuts and adopted more stringent methods to ensure members don’t break their production pledges.

Apergy and ChampionX complete merger to create the new ChampionX

ChampionX Corporation, formerly known as Apergy Corporation announced the completion of the merger of the businesses of Apergy Corporation and ChampionX Holding Inc., the former upstream energy business of Ecolab Inc. In association with this transaction, Apergy Corporation has changed its name to ChampionX Corporation, and beginning tomorrow its shares of common stock will trade on the New York Stock Exchange under the symbol “CHX”.

Eni launches a new business structure to be a leader in the energy transition

The two business groups will maintain close links in the hydrocarbon value chain, with the objective of best managing the different phases of the energy transition and jointly developing decarbonization processes to supply bio, blue and green products.