Latest news with #WeatherfordInternational
Trade Arabia
7 days ago
- Business
- Trade Arabia
TAQA appoints new Executive VP of Products & Technologies and CTO
Industrialization and Energy Services Company (TAQA), a global leader in energy and industrial services, has welcomed Jeff Lembcke to TAQA as Executive Vice President of Products & Technologies and Chief Technology Officer. Lembcke brings to TAQA more than four decades of global experience in engineering leadership within the energy services sector. In his new role, he will oversee TAQA's technology strategy, product innovation, and engineering excellence across our diversified portfolio of solutions. Prior to joining TAQA, Lembcke held senior executive roles at Weatherford International, including Chief Engineer, Director of Engineering Quality, and Vice President of Research, Development, and Engineering. He successfully led complex transformation programs, including integrating over 40 acquisitions, while accelerating innovation cycles and maintaining high operational performance. Lembcke is widely respected for his technical depth and strategic vision. He holds more than 50 US patents in areas such as artificial lift, completions, fiber optics, and production optimization, and has contributed to the development of global industry standards through his long-standing involvement with API and ISO technical committees. He earned a BS in Mechanical Engineering from the University of Oklahoma and an MBA from the University of Tulsa. Lembcke is also known for his strong leadership, mentorship, and passion for building high-performing teams and fostering a culture of innovation, TAQA said. - TradeArabia News Service
Libya Review
06-05-2025
- Business
- Libya Review
US Oil Services Giant Weatherford Resumes Operations in Libya
American oilfield services company Weatherford International has officially resumed its operations in Libya after more than ten years of suspension, in a significant step forward for the country's energy sector recovery. The announcement came during a meeting in Tripoli between Weatherford's Deputy CEO Richard Ward and the Chairman of Libya's National Oil Corporation (NOC). Ward confirmed that Weatherford has already restarted providing services to Libyan oil companies, operating from its new headquarters in the Hay Al-Andalus district of the capital. Ward stated that the company is fully prepared to deliver comprehensive technical and field services at the Jalu 59 oilfield. He emphasised Weatherford's readiness to support the Libyan energy industry with its expertise and advanced oilfield technologies. Expressing the company's commitment to long-term cooperation, Ward reaffirmed Weatherford's intention to work closely with Libyan oil institutions and maintain the highest standards of service delivery across all operations. This move marks a key milestone in Libya's efforts to revitalise its oil and gas infrastructure, which has suffered setbacks due to years of conflict and instability. Tags: libyanocoiltripoliusWeatherford
Reuters
05-05-2025
- Business
- Reuters
Weatherford CEO says oil below $50/bbl could hurt offshore investments
HOUSTON, May 5 (Reuters) - Oil prices below $50 a barrel could hurt final investment decisions on offshore projects, oilfield services company Weatherford International's (WFRD.O), opens new tab CEO Girish Saligram said on Monday. Plans by the producer group OPEC+ to raise output and U.S. President Donald Trump's tariff policies have pushed U.S. crude oil prices down to over four-year lows to around $57, worrying investors of production shut-ins. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here. Offshore production has remained a rare bright spot as investments are longer cycle, unlike shale. "If we see prices sustain below $50 a barrel, I think it could create a little bit of a lull for some of the new final investment decisions," Saligram said on the sidelines of the Offshore Technology Conference in Houston. Projects that are already underway are unlikely to be impacted as companies have thought through different commodity price scenarios, Saligram added.
Yahoo
26-04-2025
- Business
- Yahoo
Weatherford International First Quarter 2025 Earnings: EPS Beats Expectations
Revenue: US$1.19b (down 12% from 1Q 2024). Net income: US$76.0m (down 32% from 1Q 2024). Profit margin: 6.4% (down from 8.2% in 1Q 2024). The decrease in margin was driven by lower revenue. EPS: US$1.04 (down from US$1.54 in 1Q 2024). Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. All figures shown in the chart above are for the trailing 12 month (TTM) period Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.6%. Looking ahead, revenue is forecast to stay flat during the next 3 years compared to a 3.3% growth forecast for the Energy Services industry in the US. Performance of the American Energy Services industry. The company's shares are down 8.4% from a week ago. What about risks? Every company has them, and we've spotted 2 warning signs for Weatherford International you should know about. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
