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(Reuters) - Exxon Mobil Corp (XOM.N) on Friday posted a $9.1 billion third-quarter profit, about a 54% drop from record earnings a year ago but up from the prior quarter as oil prices recovered. Earnings at the largest U.S. oil producer have benefited from higher crude oil prices compared to the previous quarter and demand for gasoline... Continue Reading →
(Reuters) - Chevron (CVX.N) posted third-quarter profit that missed Wall Street estimates by a wide margin, sending its share price down in pre-market trading. Oil company earnings have slumped from record year-ago levels as crude prices eased and higher costs crimped refining and chemical profits. Results remain strong by historical standards but are well off year-ago levels.... Continue Reading →
(Reuters) - Equinor (EQNR.OL) on Friday beat third-quarter profit expectations on strong energy trading and said it had overcome disruptions that hampered oil and gas output, boosting its shares. The Norwegian energy producer lowered its 2023 forecast for oil and natural gas output to 1.5% growth from 3% but said this was caused by extensive maintenance that... Continue Reading →
In 3Q23, average production of oil, NGL and natural gas reached 2.88 MMboed, 9.1% higher than in 2Q23, mainly due to the better operational performance of the pre-salt platforms and the lower losses with stoppages and maintenance, besides the ramp-up of platforms P-71 in the Itapu field, FPSO Almirante Barroso in the Búzios field and... Continue Reading →
(OET) PGE Polska Grupa Energetyczna and GE have signed an agreement for the development of a project aimed at testing the production of green hydrogen using a GE offshore wind turbine. In the planned project, hydrogen would be produced in an electrolyzer using electricity generated from the latest GE wind turbine model intended for the offshore... Continue Reading →
(Reuters) - Spanish power company Iberdrola (IBE.MC) on Thursday raised its 2023 outlook for the third time this year and hiked dividends after increased renewable output and margins drove net profit for the first nine months 17% higher. A European leader in green energy, Iberdrola has funded investment in renewable capacity and network assets by selling minority... Continue Reading →
(Reuters) U.S. oilfield technology firm Baker Hughes beat third-quarter profit estimates on Wednesday, driven by strong demand for its services and equipment in international markets. Energy firms booked record profits last year following a spike in commodity prices and have looked to invest these to boost production and find new deposits. The move benefited companies... Continue Reading →
(OM) Copenhagen Infrastructure Partners (CIP), through its development platform Vineyard Offshore, was awarded 1.3 GW in the latest solicitation for offshore wind power held by the New York State Energy Research and Development Agency. The award allows Vineyard Offshore to commercialize clean and reliable energy through its Excelsior Wind Project located in lease area OCS-A... Continue Reading →
(Reuters) TotalEnergies on Thursday posted a 35% fall in its third-quarter adjusted net income compared to a year ago, hurt by a drop in energy prices from highs hit following Russia's invasion of Ukraine. The French energy company's Q3 adjusted net income stood at $6.5 billion. That compared to a record adjusted net income of $10 billion... Continue Reading →
(Reuters) Energy company Repsol's REP.MC adjusted net profit fell 27% year-on-year in the third quarter because of lower oil and gas prices, it said on Thursday, adding it would further diversify into renewables to offset fossil fuel volatility. The company reported an adjusted net profit of 1.1 billion euros ($1.16 billion). That was below the... Continue Reading →
Brazil Energy Insight 