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International oil activity should ramp-up through the end of this year and beyond, Schlumberger NV (SLB.N) top boss Olivier Le Peuch said on Friday, a shift that will help the company grow revenue outside North America by double-digits in the second half of the year. The oilfield service provider's shares were up 1.27% in pre-market trading at... Continue Reading →
(BUSINESS WIRE)--GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Ecuador, Chile, Brazil, and Argentina, today announced successful first phase of its strategic deleveraging process that is expected to result in a significant debt reduction and an... Continue Reading →
China's national offshore oil and gas producer CNOOC Ltd reported on Thursday its first-quarter revenue surged 21% on year on recovering oil and gas prices and higher sales. Revenue was 48.34 billion yuan ($7.45 billion) over the January-March period. Realized oil prices rose 20.5% to $59.07 per barrel, while gas prices were up 5% on... Continue Reading →
(Reuters) UN climate envoy Mark Carney and U.S. peer John Kerry on Wednesday announced a new plan to boost efforts by the financial system to help move the global economy to net zero greenhouse gas emissions. While many large banks, insurers and asset managers have started to commit to some form of action, the frameworks... Continue Reading →
(Bloomberg) -- For John Arnold, the billionaire philanthropist who made his fortune betting on natural gas prices, Houston’s fossil-fuel industry seems finally ready to move on. A year ago, talk in the Texas energy hub was mostly about defending oil and gas and denouncing renewables, Arnold, 47, said Monday on his Twitter account. Now, much of the... Continue Reading →
Oilfield equipment and services provider Baker Hughes Co (BKR.N) top boss on Wednesday reiterated he is "cautiously optimistic" about oil demand recovering this year from the coronavirus blow, echoing a view he shared on the company's last earnings call. The company reported a 40% fall in first-quarter adjusted profit, compared to the fourth, as the pandemic's hit... Continue Reading →
(Reuters) Halliburton Co (HAL.N) on Wednesday reported a 6% rise in first-quarter adjusted profit from the previous three months, as a rebound in oil prices from pandemic lows fueled drilling activity and demand for oilfield services. Higher oil prices during the quarter boosted drilling, completion and production, which led to the rebound in demand for oilfield equipment... Continue Reading →
(Reuters) Italy’s Eni (ENI.MI) is considering spinning off oil and gas operations in West Africa and the Middle East into new joint ventures to help reduce debt and fund its shift to low-carbon energy, according to company and industry sources. The move is part of a major overhaul the company launched last year as it transitions into... Continue Reading →
Canadian oil and gas companies Frontera Energy and CGX Energy have entered into a term sheet for a $19 million loan that will enable CGX to continue to finance its share of costs related to the Corentyne, Demerara, and Berbice blocks off Guyana. Frontera said that the loan would also allow CGX to further finance... Continue Reading →
(Reuters) French bank Natixis said it plans to stop financing the trading of Ecuadorian crude oil by 2022, after pressure from campaigners over the trade's links to environmental damage in the Amazon. The role of European banks in backing the trade came under scrutiny in August, when a report by advocacy groups Stand.earth and Amazon... Continue Reading →
Brazil Energy Insight 