NOBLE Energy saw a significantly wider loss in the second quarter as revenue was slashed on lower commodity prices and production cutbacks amid a slump in energy demand due to the Covid-19 pandemic. The US independent - which is in the midst of being taken over by compatriot supermajor Chevron - this week reported a quarterly net loss of $408 million for the three months to the end of June, compared with a year-earlier loss of $10 million. The loss came as revenue was halved to $571 million from $1.01 billion in the same period of 2019. Noble's bottom line was also negatively impacted by a $264 million loss on commodity derivatives, as well as a $51 million asset impairment on the Felicita project off Equatorial Guinea and $30 million in corporate restructuring costs.
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