TotalEnergies CEO bullish on oil price despite slowing Chinese demand
ABU DHABI/PARIS - TotalEnergies CEO Patrick Pouyanne stated on Monday that the growth of Chinese oil demand has slowed as China transitions to a greener energy. He said, however, he remained optimistic in the long term due to increasing demand in India. They are moving…
TotalEnergies' Q3 earnings are down slightly as lower oil prices weigh
PARIS, 30 October - French oil giant TotalEnergies announced a 2.4% decline in earnings for the third quarter on Thursday. This was expected, as an increase in upstream production, and improved crude refining margins, partially offset lower oil price. LSEG's analysts…
Analysts are looking at 2026 as a timeframe for predicting the growth of oil earnings.
Big Oil's third-quarter results may be boosted by marginally higher oil and refining prices, as well as stronger results in the refinery sector. However, some analysts are more concerned with how the global oil majors will set the stage for the year 2026 when they report their results next week.
Analysts are looking at 2026 as a timeframe for a rise in Big Oil earnings
Big Oil's third-quarter results may be boosted by marginally higher oil and refining prices, as well as stronger results in the refinery sector. However, some analysts are more concerned with how the global oil majors will set the stage for the year 2026 when they report their results next week.
Aramco CEO: Oil demand is strong and the market is watching Russia sanctions
The CEO of Saudi Arabia's state-owned oil giant Aramco stated on Tuesday that crude oil demand had been strong before sanctions were imposed against major Russian oil companies Rosneft, and Lukoil. He also said the Chinese demand was healthy. Donald Trump, the U.S.
TotalEnergies says the Mozambique Liquefied Natural Gas project cost has risen to $4.5 billion
TotalEnergies told Mozambique in a letter that costs for its LNG project had risen $4.5 billion over the past four years. It also wants to extend its production agreement by 10 years. The French oil giant confirmed Saturday that it, along with its partners, had decided to lift the force majeure for this project.
In its third-quarter trading report, Total highlights lower LNG sales and rising refining profits.
TotalEnergies, the French oil giant, expects to post a decrease in its third-quarter earnings, it announced on Wednesday. Asset sales and improved margins for refining oil failed to offset lower prices and reduced liquefied gas production. The European refinery margin of the company averaged $63.0 a ton during the third quarter.
Sources claim that Colonial Pipeline will cut jobs.
According to two sources with knowledge of the situation and a statement from the company, The Colonial Pipeline Company informed its employees that it plans to reduce some positions this week. In response to questions about job cuts, the company stated: "We informed…
Chevron expands India Hub to boost AI and digital capabilities
Chevron India opened a 312,000 square foot facility for its Engineering and Innovation Excellence Center in Bengaluru on Thursday, a year and a half after launching this unit. The unit was launched to consolidate its technical work and enhance its digital and AI capabilities.
Bloomberg News reports that Exxon is planning to return to Iraq in order to explore the Majnoon oilfield.
Bloomberg News, citing sources familiar with the situation, reported that Exxon Mobil may re-enter Iraq after nearly two years by signing agreements to lay the foundation for exploring the Majnoon oil field. Majnoon Oil Field is located 60 km from Basra, in southern Iraq. It has an estimated 38 billion barleys of oil.
BP seeks partner for Brazil Bumerangue Block
BP's Brazil Chief Andres Guevara de la Vega announced on Thursday that the oil giant will look for a partner in order to evaluate the discovery made at Brazil's Bumerangue Block. It could also reach a deal with a partner before making a final decision about investing in the project.
TotalEnergies sells 50% of its North American solar portfolio and invests in U.S. Gas assets
TotalEnergies said it would sell half of its North American solar portfolio for $950 million in a deal announced on Monday. It also stated that it plans to invest in US gas-producing assets, which will help it secure future supplies. The sale of the stakes is in line…
BP approves $5 billion Tiber Guadalupe project in US Gulf
British oil giant BP announced on Monday that it would move forward with a $5 Billion offshore drilling project called Tiber-Guadalupe in the U.S. Gulf of Mexico. This marks another step in BP's new strategy to refocus its oil and gas core business. The project is expected to start oil and gas production by 2030.
Oilfield executives sour in Dallas Fed survey
According to a Federal Reserve Bank of Dallas survey published on Wednesday, oil and gas production in Texas, Louisiana, and New Mexico, the three states that produce the most, declined in the third-quarter as executives expressed a more negative outlook. The decline…
Sources say that Exxon has signed an initial agreement with Rosneft in order to map out a possible route to recover Russian losses.
According to sources familiar with these talks, U.S. oil giant Exxon Mobil signed an initial non-binding agreement to help Exxon recover a $4.6 billion loss it took on its Russian activities in 2022 due to Moscow's invasion in Ukraine. The agreement is a first step in repairing the commercial ties between the two nations…
TASS reports that Russia's top oil executive said Asian oil demand is still growing.
Alexander Dyukov of Russian oil giant Gazprom said that the demand for crude oil in Asia continues to increase, while China, among other countries, has been replenishing its crude stocks, according to TASS. OPEC+ agreed this month to increase oil production in October, as Saudi Arabia tries to regain its market share.
Santos stock slides as $18.7 billion ADNOC-led deal collapses
Santos, the Australian gas producer, saw its shares fall as much as 13.6 percent on Thursday. A consortium led by Abu Dhabi-based ADNOC canceled their $18,7 billion offer for the company after commercial terms were not agreed. Santos announced in a press release issued…
Santos said it was prepared to approve an ADNOC bid of $18,7 billion before the deal collapsed
Santos, the Australian gas producer, said that it would be willing to accept the ADNOC consortium's bid of $18,7 billion for the company if the international group did not withdraw the offer because commercial terms could no longer be agreed. Santos, in a Thursday morning statement…
ADNOC consortium withdraws bid of $18.7 Billion for Australia's Santos
After months of disagreements over valuation, Abu Dhabi National Oil Company has pulled its $18,7 billion bid to purchase Australian gas producer Santos. ADNOC may be slowing down its aggressive expansion overseas as it looks to invest the booming oil revenue in the country.
Interior secretary: US wants to strengthen energy ties with Greece
Interior Secretary Doug Burgum told reporters in Athens that the U.S. is looking to strengthen its energy relations with Greece. This comes as the Trump Administration works to reduce Russia's gas and oil supplies to Europe. Burgum was in Europe this past week to sign energy deals that the U.S.