Chevron exceeds expectations for quarterly profits on the back of higher oil production
Chevron Corp. beat Wall Street expectations for the third quarter profit on Friday. However, its earnings dropped from a previous year. Chevron Corp, which has had its proposed $53 billion takeover…
Baker Hughes reports that US drillers have added oil and gas rigs to their fleet for the first time in 4 weeks.
Baker Hughes, a leading energy services company, said that the U.S. added oil and gas rigs this week for the first time since four weeks. The number of oil and gas rigs, a good indicator of future production…
Chevron sells assets worth $6.5 billion to Canadian Natural Resources
Chevron announced on Monday that it would sell its assets in the Athabasca Oilsands and Duvernay Shale fields to Canadian Natural Resources at a price of $6.5 billion. This is part of its divestment plan.
VEGOILS - Palm oil rises by more than 4%, the biggest increase in over a month on higher oil and soyoil
The price of crude oil and Chicago soyoil drove the increase in Malaysian palm oils futures by more than 4%. At the close of the day, the benchmark palm oil contract on Bursa Derivatives Malaysia…
CNOOC China posts record profit in the first half of 2018 on robust output growth
CNOC, the Chinese offshore oil-and-gas major, posted a record profit for the first half of this year on Thursday. This was largely due to higher oil prices and increased output. CNOOC reported…
Qatar signs another LNG supply contract with Kuwait for 15 years
Qatar has agreed to supply Kuwait for 15 years with 3 million tonnes per annum of liquefied gas (LNG). This is the second LNG deal signed since 2020, as Kuwait imports this fuel to meet the rising demand for electricity generation.
Exxon Q4 Earnings Poised to Exceed Pre-pandemic Level
Exxon Mobil Corp's fourth quarter profit should top Wall Street's consensus and surpass its pre-pandemic levels, lifted by better-than-expected earnings from oil and gas, analysts said.Credit Suisse…
Asian Countries Looking to Release Oil Reserves after U.S. Request
The world's biggest economies said on Thursday they were looking into releasing oil from their strategic reserves, following a rare request from the United States for a coordinated move to cool global energy prices.The U.S.
Investors on Board as U.S. Oil Majors Dismiss Wind and Solar Projects
Top U.S. oil firms are doubling down on drilling, deepening a divide with European rivals on the outlook for renewables, and winning support from big investors who do not expect the stateside companies to invest in wind and solar.
Saudi Aramco Q2 Profit Soars Nearly 300% to $25.5B
Saudi Arabian state oil producer Aramco reported a near four-fold rise in second-quarter net profit, beating expectations and boosted by higher oil prices and a recovery in oil demand.Aramco said…
WTI-Brent Spread Narrows as Oil Market Tightens
The price gap between the world's two most actively traded oil contracts narrowed to its lowest in more than seven months, demonstrating that U.S. oil output is still in the COVID-19 doldrums with…
BP Profit Triples to $2.6B in Q1 on Strong Oil, Gas Trading
BP's profit more than tripled to $2.6 billion in the first quarter thanks to stronger oil prices and bumper revenue from natural gas trading, paving the way for the energy company to start buying back its shares.The jump in profits from a y
US Oil Rig Count Rises for First Week Since March
U.S. energy firms cut the number of oil and natural gas rigs operating to a record low for a 12th week in a row, although they added one oil rig in the first weekly increase since March as a recovery…
Occidental Posts $2.2B Loss, Deepens Spending Cuts
Occidental Petroleum Corp on Tuesday swung to a first-quarter loss on writedowns and charges, and the troubled U.S. oil producer cut its budget for the third time since March in response to a historic…
Chevron: GoM Anchor Project Needs $5.7 bln
Chevron Corp said on Thursday its Anchor project in the Gulf of Mexico would need an investment of about $5.7 billion.Announcing its final investment decision on the planned facility, the oil major…
Oil Search on Tenterhooks over Total's PNG Gas Deal
Oil Search warned on Tuesday that costs for a $13 billion plan to double gas exports from Papua New Guinea could rise if talks on a gas agreement between the government and Total SA drag on beyond…
Chevron Profit Surges 26%
Chevron Corp reported a 26.3% jump in quarterly profit on Friday, as higher oil and gas production and a one-time breakup fee from its failed bid for a rival more than offset lower energy prices…
Exxon Mobil Profit Sinks
Exxon Mobil Corp on Friday reported a 21% drop in quarterly profit, its third period in a row of weaker year-over-year results, as sharply higher oil production was offset by weaker refining and…
Investors Push BP to Fight Climate Change
BP will face pressure at a meeting next week to set tougher targets to combat climate change, the latest signal from investors that they want the oil and gas industry to do more to clean up its…
IEA Says Oil Markets Adequately Supplied
The International Energy Agency is monitoring developments in global oil markets, and notes that markets are now adequately supplied, and that global spare production capacity remains at comfortable…
