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(Reuters) Exxon Mobil on Friday posted a better-than-expected $9.2 billion second-quarter profit based on rising output from its purchase this year of shale oil firm Pioneer Natural Resources. Exxon delivered a $2.14 a share profit that beat analysts' estimates on oil production and pricing gains that offset refining weakness. Results mirrored profit beats by rivals... Continue Reading →
(OE) Oilfield services firm Archer has entered into an agreement with Air Drilling Associates to acquire its managed pressure drilling (MPD) subsidiary ADA Argentina. ADA provides MPD services to Archer's largest customers in the Vaca Muerta basin in Argentina. MPD is an adaptive drilling process used to precisely control the annular pressure profile throughout the... Continue Reading →
(Reuters) - Hess Corp beat estimates for second-quarter profit on Wednesday, helped by sharply higher oil production in Guyana and stronger prices. The South American country and its lucrative oil assets are at the center of a dispute between Hess, Chevron and Exxon . Last October, Hess agreed to sell itself to Chevron for $53 billion in stock,... Continue Reading →
(Reuters) - Brazil's state-run oil firm Petrobras has made a non-binding offer to buy a major stake in Galp Energia's huge offshore oil discovery in Namibia, Petrobras exploration and production director Sylvia dos Anjos told Reuters on Friday. If accepted, the bid would make Petrobras the operator of the Mopane oil and gas field, which has an... Continue Reading →
(Reuters) - Brazil's state-run oil company Petrobras (PETR4.SA), opens new tab is wrapping up due diligence for a bid on the Mataripe refinery it sold to Abu Dhabi sovereign fund Mubadala for $1.65 billion in 2021, three people familiar with the matter told Reuters. President Luiz Inacio Lula da Silva campaigned against the sale of Petrobras refineries and has pushed for... Continue Reading →
(offshoreWIND.biz) RWE and TotalEnergies have entered into an agreement under which TotalEnergies will acquire a 50 per cent stake in RWE’s OranjeWind offshore wind farm in the Netherlands. TotalEnergies said it would use its share of the electricity from the 795 MW OranjeWind to produce green hydrogen. The new partners have now also taken the... Continue Reading →
(Offshore-energy.biz) UK-headquartered AIS has secured multiple contracts to supply a comprehensive range of subsea ancillary solutions on a “major” deepwater oil field development located in the Santos Basin, off the coast of Brazil. The contracts are from several engineering, procurement, construction, and installation (EPCI) and original equipment manufacturer (OEM) companies. The contracts involve providing various critical subsea... Continue Reading →
(Reuters) - Colombia's majority state-owned energy company Ecopetrol said on Friday that it is in talks with U.S. oil major Occidental Petroleum to possibly buy a stake in CrownRock. Ecopetrol, in a statement, did not include additional details and added that a final decision on the size of the stake and the amount it could pay were... Continue Reading →
(Reuters) Exxon Mobil's legal bid to stop Chevron's proposed $53 billion acquisition of Hess rests on whether the transaction would involve a change of control of Hess' prize subsidiary in Guyana, according to people knowledgeable about the argument. The two top U.S. oil producers are in an arbitration battle over the world's largest oil discovery... Continue Reading →
(OE) QatarEnergy has signed an agreement with Chevron to acquire a 20% working interest in a production sharing contract for block 5 offshore Suriname. Pursuant to the signed agreement, Chevron as the operator will retain a 40% interest, while Paradise Oil Company, an affiliate of Suriname’s national oil company Staatsolie, will own the remaining 40%.... Continue Reading →
