Oil services group TechnipFMC said on Jan. 10 Doug Pferdehirt would replace Thierry Pilenko as its executive chairman, following Pilenko’s imminent retirement.
Pilenko was one of the key directors behind the 2016 merger between French company Technip and U.S. rival FMC, as a drop in oil prices spurred consolidation within the oil services sector.
Blackstone Energy Partners made an equity commitment of $500 million in Waterfield Midstream, a Permian Basin oil and gas water management platform.
Oil major Exxon Mobil said Jan. 31 it would create three new separate E&P companies, effective April 1, in an effort to double its profit by 2025.
Oil and gas operating costs in the U.S. shale basins have come down recently following a drop in crude prices, BP’s head of upstream Bernard Looney said on Feb. 5.