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Oct 30 (Reuters) - US oil majors ExxonMobil and Chevron both beat analyst expectations for quarterly profit on Friday, as soaring refining margins increased earnings from their fuel-making businesses – which typically have smaller profits – to rival the upstream segments. The US-Israeli war with Iran and the conflict between Russia and Ukraine have disrupted... Continue Reading →
Oct 28 (Reuters) - Asia's largest oil and gas producer, PetroChina, reported a 21.6% year-on-year increase third-quarter net profit, driven by higher oil and gas prices, according to a stock filing on Wednesday. Net income for the July-September period totalled 51.84 billion yuan ($7.78 billion), compared with 42.29 billion yuan a year earlier. Net profit... Continue Reading →
Oct. 26 - HydroWing Ltd, the tidal energy division of Inyanga Marine Energy Group, has signed a contract with Ecodetect to introduce AI-driven environmental monitoring solutions to its pioneering tidal stream energy project at Morlais in Wales. Richard Parkinson, CEO of Inyanga Marine Energy Group, says: “Tidal energy projects operate in sensitive marine environments. Ecodetect’s... Continue Reading →
Oct 23 (Reuters) - In a windy, remote oilfield in Argentina, Chevron is bringing in US workers, equipment and expertise, betting it can recreate the Permian Basin shale boom that transformed the US oil industry two decades ago, this time in the Vaca Muerta formation, where success has long been elusive. The US oil producer... Continue Reading →
Oct. 21 (offshoreWIND.biz) Japanese construction company Kumagai Gumi has joined Saitec Offshore Technologies and Kansai Electric Power Company (KEPCO) in the DemoSATH floating wind project in Spain, with the partners extending the prototype’s operation at the BiMEP test site through 2027. Under a cooperation agreement, the partners will use the extended operating period for research,... Continue Reading →
Oct 21 (Reuters) - Europe's largest utility, Iberdrola, on Wednesday raised its profit target for this year for the second time and said it expects profit to grow faster than previously forecast, as its focus on power networks pays off. The Spanish company now expects adjusted net profit to grow by at least 10% this... Continue Reading →
Oct. 20 (TN) On October 18, the FPSO P-82 departed from the Tuas Boulevard Yard in Singapore, bound for the Búzios field in the pre-salt region of the Santos Basin—the field with the largest reserves and production volume in Brazil. The P-82 is one of six giant FPSOs commissioned by Petrobras; with a nominal production... Continue Reading →
Oct 17 (Reuters) - Venezuela expects nearly $76 billion in oil investment over the next five years under recently signed agreements, acting President Delcy Rodriguez said on Saturday, adding that a bilateral accord with the US includes plans to drill 250 rigs. Since the January ouster of President Nicolas Maduro, the country has been reopening... Continue Reading →
Oct 15 (Reuters) - ExxonMobil has told Guyana it will need more offshore gas to maximize oil production than the government had expected, potentially leaving less for liquefied natural gas production and exports, two people close to the talks said. Guyanese officials are now weighing whether to shrink a planned LNG project or skip exports... Continue Reading →
Oct. 13 (oilprice.com) Guyana, one of the world's newest oil exporters, is poised to surpass one million barrels per day in crude oil exports for the first time this December, marking another extraordinary milestone for the small South American country. According to Bloomberg, December's preliminary loading schedule includes 33 million barrels of crude exports, equivalent... Continue Reading →
