Tuesday, September 16, 2025
Halliburton to 'significantly' cut 2020 capex below $1.2 billion budget- oil and gas 360

Halliburton to ‘significantly’ cut 2020 capex below $1.2 billion budget

Reuters Oilfield services firm Halliburton (HAL.N) is accelerating its cost-cutting and will significantly reduce spending this year below its original $1.2 billion budget, its finance chief said on Tuesday. The Houston, Texas-based company did not disclose a new spending target, but is testing scenarios including a 60-65% reduction in some areas of the oilfield services sector, Chief Financial Officer Lance

Occidental names former CEO Stephen Chazen as non-executive chair- oil and gas 360

Occidental names former CEO Stephen Chazen as non-executive chair

Reuters Occidental Petroleum Corp (OXY.N) on Tuesday named its former chief executive officer, Stephen Chazen, as non-executive chairman of its board in a bid to end a long and bitter fight with activist investor Carl Icahn. WSJ had previously reported that the company planned to name Chazen as the new chairman to appease Icahn and that it was also close

Layoffs, pay cuts loom as Schlumberger plans to cut up to 30 percent from budget- oil and gas 360

Layoffs, pay cuts loom as Schlumberger plans to cut up to 30 percent from budget

Houston Chronicle Layoffs and pay cuts loom as Schlumberger, the largest oilfield service company in the world, plans to cut up to 30 percent from its budget amid crumbling oil prices and the economic effects of the coronavirus pandemic. Schlumberger CEO Olivier Le Peuch reported the budget cuts during a Tuesday morning fireside chat at the Scotia Howard Weil Energy Conference in