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(Reuters) Italy's Saipem said on Thursday its adjusted core earnings rose 65% in the first quarter to beat expectations driven by its offshore engineering and construction (E&C) business and drilling. Adjusted core earnings in the period were 145 million euros ($157 million), above a Refinitiv consensus of 103 million euros. New orders rose to 2.36... Continue Reading →
(WO) — The energy crisis triggered by Russia’s invasion of Ukraine is increasing the world’s motivation to shift to low-carbon energy, but is also creating a near-term scramble for fossil fuels that will drive billions of dollars of new investment. The U.S. and European countries are planning liquefied natural gas terminals that will be in... Continue Reading →
Aiming to make full use of domestic and overseas financing channels, Chinese oil and gas giant CNOOC Limited has launched an initial public offering (IPO) on Shanghai Stock Exchange, raising about $4.4 billion. The company informed on Thursday it has been officially listed on the A-share market, building a platform for domestic and international capital... Continue Reading →
(Reuters) - The world needs to find $1.3 trillion of incremental investment by 2030 to boost all types of energy output and infrastructure from renewables to oil and gas to avoid an energy crunch, U.S. bank JP Morgan said in its first annual energy outlook. "Our main finding is that by 2030, energy demand growth... Continue Reading →
(Reuters) Wood Plc said on Wednesday its Chief Executive Officer Robin Watson plans to retire and the British oilfield services and engineering firm also posted a drop in full-year revenue, sending its shares down as much as 6% in early trade. The London-listed company's revenue for the year ended Dec. 31 was down 14% on... Continue Reading →
(Bloomberg) — Halliburton Co. said North American oil and natural gas drillers will lift spending by 35% this year, an increase from the biggest fracer’s pre-Russian war forecast. The oilfield-services giant didn’t directly attribute the spending increase to fallout from Russian President Vladimir Putin’s assault on Ukraine but noted that explorers are pivoting to “short-cycle... Continue Reading →
(Reuters) - Baker Hughes Co (BKR.O) on Wednesday reported a higher quarterly profit from a year earlier, as a surge in commodity prices fueled drilling activity and demand for oilfield services. Oil benchmarks have undergone their most volatile period since mid-2020 with global crude prices up more than 38% in the first quarter amid Russia's invasion of... Continue Reading →
(Reuters) - Siemens Energy (ENR1n.DE) is reviewing its full-year outlook after wind turbine division Siemens Gamesa (SGREN.MC) unveiled deeper-than-expected operating problems and rising costs that together triggered a substantial quarterly loss. Siemens Energy also said the operating environment had become more challenging due to the war in Ukraine as well as sanctions imposed on Russia, adding it could not... Continue Reading →
(PN) Acelen, the investment arm of Mubadala Capital, announced that it will invest BRL 500 million in the Mataripe Refinery (formerly RLAM), in Bahia. The funds will be applied to the plant's scheduled maintenance shutdown cycle over the next 12 months. The company's expectation is that up to 4,000 jobs will be generated at the... Continue Reading →
(Offshore Energy) Oil and gas exploration company Eco (Atlantic) Oil & Gas has made its required capital expenditure contribution and is on track to start drilling a high-impact exploration well located in Block 2B, located offshore South Africa, by October this year as scheduled. The joint venture (JV) partnership for Block 2B is operated by a subsidiary... Continue Reading →
