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.
Colombia’s state-run oil company Ecopetrol SA is looking to spend $500 million in exploring unconventional deposits over the next three years, its CEO said on March 5, starting with pilot programs in the Magdalena Medio region.
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.