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(Reuters) - Shell (SHEL.L) on Thursday reported a second quarter profit of $11.5 billion, smashing its previous record just three months earlier, lifted by a tripling of refining profits and strong gas trading. The company also announced a share buyback program of $6 billion for the current quarter, but did not raise its dividend of 25 cents... Continue Reading →
(Reuters) - TotalEnergies (TTEF.PA) posted a surge in second-quarter profits, joining others in its sector that have benefited from higher energy prices, although its shares fell as its stock buyback plans disappointed some analysts and investors. Adjusted net income nearly trebled from a year ago to $9.8 billion, as the company cashed in on a rise in... Continue Reading →
U.S. oil and gas producer Hess Corp reported a nine-fold increase in second-quarter adjusted profit on Wednesday, helped by a surge in energy prices following Russia's invasion of Ukraine. Oil prices have scaled multi-year highs this year as Western sanctions against major exporter Russia have squeezed an already under-supplied market. Global benchmark Brent crude was... Continue Reading →
(Reuters) Italy's Saipem on Wednesday confirmed its 2022 guidance and the targets in its business plan after the energy services group reported a first-half adjusted core profit of 321 million euros ($325 million). Investors this month agreed to fund only 1.4 billion euros of a life-saving 2 billion euro cash call, leaving the underwriting banks... Continue Reading →
Fugro has reported a revenue of €833 million for the first half of 2022, an increase of 17.2% compared to the same period last year, driven by growth in all markets, particularly high client demand for renewables services. Utilization of Fugro’s fleet was 67% in the first half-year, versus 69% in the same period last... Continue Reading →
Equinor said it will return an additional $3 billion to shareholders after reporting better-than-expected second-quarter profit on the back of soaring gas prices fuelled by the war in Ukraine. The company boosted gas supplies to Europe by 18% in the April-June period compared to a year ago, making Norway the continent's largest supplier of piped... Continue Reading →
(Reuters) - Guyana's government expects that an upcoming auction for oil and gas blocks will attract new companies to its energy industry, President Irfaan Ali said on Monday, following years of domination by U.S. giant Exxon Mobil (XOM.N) and its partners. As part of his first official trip to Washington, Ali expects to hold talks with U.S.... Continue Reading →
Petróleo Brasileiro S.A. - Petrobras, regarding the news published in the media, confirms that it received, on 06/22/2022, a letter from the Special Secretary of the Treasury and Budget of the Ministry of Economy regarding the payment of dividends. The Company clarifies that, in its response, it informed that all the requests in the referred... Continue Reading →
Rystad Energy, an energy intelligence group, has revealed that Guyana’s burgeoning offshore oil and gas industry is poised to enter the big league with revenues set to break the $1 billion mark in 2022 and see a significant annual acceleration in 2030. This boost in revenue is powered by the Stabroek block, according to Rystad Energy’s research,... Continue Reading →
(Reuters) - Portuguese oil and gas company Galp Energia (GALP.LS) reported a 90% jump in adjusted second-quarter profit on Monday, citing soaring oil prices and a sharp increase in its refining margin. Rapid recovery in demand after pandemic lockdowns and a surge in energy prices driven by Russia's invasion of Ukraine have boosted profits for oil companies... Continue Reading →
Brazil Energy Insight 