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(Reuters) - The Swiss-based company which built the Nord Stream 2 gas pipeline from Russia to Germany is considering filing for insolvency, two sources familiar with the situation said, as it attempts to settle claims ahead of a U.S. sanction deadline for other entities to stop dealings with it. The United States sanctioned Nord Stream... Continue Reading →
(Reuters) - Mexican state oil company Pemex reported a $6.05 billion fourth-quarter net loss on Monday, driven by highertaxes and currency exchange losses despite more oil output, with the firm set to require further big cash infusions from the government. Pemex (PEMX.UL), which has long struggled to stay in the black, managed to turn a... Continue Reading →
Oil and gas company Kosmos expects to spend approximately $700 million in capital expenditures in 2022. The company will spend around $400 million of the budget in relation to its base business in Ghana, Equatorial Guinea, and Gulf of Mexico. Around $300 million is set to be spent in relation to its assets in Mauritania... Continue Reading →
(Reuters) - BP is abandoning its stake in Russian oil giant Rosneft in an abrupt and costly end to three decades of operating in the energy-rich country, marking the most significant move yet by a Western company in response to Moscow's invasion of Ukraine. Rosneft accounts for around half of BP's oil and gas reserves... Continue Reading →
The Department of the Interior today announced the results of the nation’s highest-grossing competitive offshore energy lease sale in history, including oil and gas lease sales, with the New York Bight offshore wind sale. These results are a major milestone towards achieving the Biden-Harris administration’s goal of reaching 30 gigawatts of offshore wind energy by... Continue Reading →
Solstad Offshore has reported a revenue of NOK 5.4 billion for the financial year 2021, an 8% increase compared to NOK 5 billion in 2020. Looking ahead, the Norwegian company revealed it fears that the current situation in Ukraine could impact its operations. The Norwegian company announced a full-year adjusted EBITDA increase of 20% to... Continue Reading →
(Reuters) - Brazilian state-run oil company Petrobras will closely monitor international price swings following Russia's invasion of Ukraine before making any decisions on domestic fuel prices, the firm's logistics and trading head said on Thursday. The company, formally Petroleo Brasileiro SA , says it aligns domestic prices with international rates but allows prices to decouple... Continue Reading →
(Bloomberg) -- After watching big banks curtail lending and asset managers pare bets, fossil fuel producers are now losing access to some of Wall Street’s deepest pockets. Blackstone Inc., once a major player in shale patches, is telling clients its private equity arm will no longer invest in the exploration and production of oil and... Continue Reading →
(Reuters) - Brazilian state-run oil company Petrobras smashed its all-time record for annual profits and dividend payouts in 2021, as sky-high Brent prices and a laser focus on the firm's exploration and production business continued to bear fruit. In a Wednesday evening securities filing, the firm, formally Petroleo Brasileiro SA , posted a yearly net... Continue Reading →
TechnipFMC has gathered over $6.7 billion in inbound orders in the financial year 2021, a 33.4% increase from the $5 billion in 2020, according to the company’s latest results. The company’s chair and CEO Doug Pferdehirt said that 2021 was a breakout year for TechnipFMc as the full-year adjusted EBITDA was $580 million with a... Continue Reading →
