The COVID-19 pandemic and the current low-oil-price environment have pushed global exploration and production operators to cut costs, scrapping all but the most vital of their investment plans

Total has announced a revised capex of US$14.7bn for 2020 by factoring average crude oil prices of US$30 per barrel

Italian oil and gas operator Saipem has decided to withdraw its 2020 guidance

Oilfield services provider Petrofac has announced that its Petrofac Emirates joint venture has received notice of termination from Abu Dhabi National Oil Company (ADNOC) of two recently awarded contracts for the Dalma Gas Development Project

Energy technology company Baker Hughes has announced that it will take a non-cash goodwill impairment of US$15bn in Q1 2020