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Oct. 30 (OE) Offshore drilling contractor Noble Corporation has secured approximately $560 million in new rig contracts across Africa, South America and Norway since its July fleet status report, bringing its contracted backlog to $6.7 billion. The awards span six drilling rigs and include exploration, development drilling, plug and abandonment (P&A) and light well intervention... Continue Reading →
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 27 (Reuters) - Baker Hughes reported a fall in third-quarter profit on Tuesday, as prolonged conflict in the Middle East hit demand for services and equipment in the key oil-producing region. Repeated flare-ups in the Middle East conflict, now in its eighth month, have squeezed margins for the oilfield services sector amid delays in... Continue Reading →
Oct. 27 (oilnow.gy) Noble Corporation reported a net loss of US$117 million in the third quarter of 2026, widening from US$37 million in the preceding quarter, as a sharp increase in income tax expenses outweighed its pretax earnings. The drilling contractor published its earnings on October 26, 2026. The offshore drilling contractor recorded an income... 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 23 (Reuters) - SLB beat Wall Street estimates for third-quarter profit on Friday, supported by strong North American oilfield activity, while signaling recovery in parts of the Middle East following conflict-related disruptions. Repeated flare-ups in the US-Iran conflict, now in its eighth month, have pressured oilfield services companies with significant exposure to the region... Continue Reading →
Oct. 22 (seeking alpha) Weatherford International (WFRD) jumped 8.6% in Wednesday's trading after easily beating Q3 earnings estimates and saying its Venezuela business could reach its previous peak of $500M in annual revenue in the next few years. Q3 profit rose to $120M, or $1.66/share, from $81M, or $1.12/share, in the year-earlier quarter, while revenue... Continue Reading →
Oct. 22 (AP) A single figure sets Venezuela apart from the rest of the world: 303 billion barrels of so-called proven oil reserves. But experts say the country's estimate is inherently problematic and far from proven — rooted in exaggerated, aging data from a corrupt government. The number has long been touted by politicians and... 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 →
