Total Profits Take a Hit
French energy major Total said its net profit for the first three months of the year fell 4 percent to $2.8 billion compared with a year ago due to volatile oil prices and debt costs, despite record…
Op/Ed: Connecting to the Future of Offshore
120 miles out at sea, 6,000-horsepower devices lift drilling equipment weighing up to 3 million pounds out of holes lying 10,000 feet beneath the water. Keeping such sea monsters in good working order…
Funds Pull Back from Permian as U.S. Shale Heats Up
Cash, people and equipment are pouring into the prolific Permian shale basin in Texas as business booms in the largest U.S. oilfield. But one group of investors is heading the other way - concerned…
Fracker Pioneer's Q2 Loss Widens on Derivatives
U.S. oil producer Pioneer Natural Resources Co posted a second-quarter net loss on Wednesday that widened from a year earlier on noncash mark-to-market losses for derivatives it uses to insulate its revenues from volatile oil prices.
Total's Cuts are the Deepest: Fitch
French oil group Total has to make the steepest cuts to investments and shareholder returns among Europe's oil majors if oil prices remain weak, in order to maintain its current credit rating, Fitch said on Monday.
Ithaca Completes RBL Redetermination
Ithaca Energy Inc. announced that it has successfully completed its planned semi-annual reserves based lending (“RBL”) facilities review and continues to maintain in excess of $125 million of funding…
South Africa Prepares to Give Shale Gas go ahead
South Africa will gazette final regulations for shale gas exploration by June, two years after releasing draft rules and as companies reconsider investments due to volatile oil prices and delays in awarding licenses.
Brightoil Reports Steady Growth in Interim Results
Brightoil Petroleum (Holdings) Limited announced its interim results for the six months ended December 31, 2014, reporting steady growth over the period. During the period, profit attributable…
Big Spending Cuts Expected for Oil Companies in 2015
Plunging oil prices will prompt energy companies to cut investments in new projects by 25 percent or more in 2015, analysts said over the past week, as firms try to stay cash-flow positive and keep debt in check.
Iranian Stake Hurts Indian Refiner's Revival Plan
Indian Oil Corp (IOC) , the country's biggest refiner, is exploring options including a merger to save loss-making unit Chennai Petroleum Corp (CPCL), its chairman B. Ashok told Reuters on Wednesday.
