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(offshore-energy.biz) In what is described as a “strong start of the year”, Dutch geo-data specialist company Fugro reported a 9% revenue growth for Q1 2024 compared to the same period last year, said to be due to ongoing significant growth in offshore wind projects. Revenue in the first quarter was €503.2 million, a 9% increase compared... Continue Reading →
(Reuters) -Oil giant Chevron Corp beat estimates for first-quarter profit on Friday as higher production volumes in the U.S. helped offset a hit from weak natural gas prices and fuel margins. The second largest U.S. oil producer posted a profit of $5.5 billion in the quarter ended on March 31, down from $6.57 billion, or... Continue Reading →
(Reuters) - Exxon Mobil Corp on Friday missed analysts' estimates with a 28% year-on-year drop in first quarter profits as weaker refining margins and lower natural gas prices offset volume gains. The largest U.S. oil company, which is in the process of closing a $60 billion deal for top shale oil producer Pioneer Natural Resources,... Continue Reading →
(Offshore-energy.biz) Subsea7 has reported a “robust” backlog of $10.4 billion in its financial results for the first quarter of 2024, with tendering activity high in both the subsea and offshore wind sectors. To remind, in the financial results for the full year of 2023, Subsea7 reported it had secured $7.4 billion of contract awards last year, taking its backlog... Continue Reading →
By Fernando Tamayo, Emissions Team Lead, Welligence Energy Analytics (OE) In recent years, the oil and gas industry has faced mounting pressure to address its environmental impact. This has led many companies to set decarbonization targets – we are tracking more than 460 targets set by independents, majors, and NOCs across the sector. However, achieving... Continue Reading →
Petróleo Brasileiro S.A.- Petrobras, in continuity with the Material Fact disclosed on March 7, 2024, informs that the Annual General Meeting (AGM), in a meeting still in progress, approved the remuneration to shareholders for the 2023 Fiscal Year, in the total amount of R$ 94,354,315,809.82. This amount includes the prepayments approved throughout 2023 and paid... Continue Reading →
(Reuters) - Equinor (EQNR.OL), opens new tab posted a sharp fall in first-quarter profit on Thursday, hit by tumbling natural gas prices in Europe, though strong energy trading and rising output limited the decline. The Norwegian oil and gas producer's adjusted earnings before tax for January-March fell almost 37% to $7.53 billion but beat the $7.2 billion... Continue Reading →
(OM) Offshore rig rates hit a nine-year high last year, according to a report from Westwood Global Energy Group subsidiary RigLogix. Day rates for jackups, semisubmersibles and drillships averaged $118,000, $368,000 and $419,000, respectively, 54% up on the figures for 2021. However, the inflationary prices, caused by a combination of higher global rig demand, rising rig use... Continue Reading →
(Reuters) - Hess Corp (HES.N), opens new tab reported a first-quarter profit on Thursday that beat analysts' estimates, helped by higher production from the oil and gas company that is set to be acquired by U.S. energy major Chevron (CVX.N), opens new tab in a $53 billion deal. Net production at Hess jumped 27.3% to 476,000 barrels of oil... Continue Reading →
(Reuters) - Oilfield services firm Baker Hughes (BKR.O), opens new tab beat analysts' estimates for first-quarter profit on higher international drilling demand and increased its dividend. Brent crude rose nearly 10% in the quarter on an average, prompting oil firms to drill more, creating demand for oilfield services and equipment offered by Baker Hughes and rivals. International... Continue Reading →
Brazil Energy Insight 