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(OE) Energy technology company Baker Hughes has secured a contract from ExxonMobil Guyana to provide specialty chemicals and related services for its Uaru and Whiptail offshore greenfield developments in Guyana’s Stabroek Block The multi-year contract includes all topsides, subsea, water injection and utility chemicals for the Errea Wittu and Jaguar floating production storage and offloading... Continue Reading →
(Reuters) - Chevron Corp reported fourth-quarter earnings below Wall Street estimates on Friday as weak margins pushed its refining business into a loss for the first time since 2020, sending its shares down more than 2%. Chevron CEO Mike Wirth told Reuters the downtrend in refining margins is set to continue this year. The second-largest U.S.... Continue Reading →
(Reuters) Exxon Mobil on Friday beat Wall Street's estimate for fourth-quarter profit as higher oil and gas production offset lower oil prices and weaker refining margins. Fourth quarter profit was $7.39 billion. Profit per share was $1.67, beating analyst estimates of $1.56, according to LSEG data. The No. 1 U.S. oil producer reported total earnings of... Continue Reading →
Shell on Thursday reported a fourth-quarter profit of $3.66 billion, missing estimates, on lower refining margins and lower liquefied natural gas (LNG) trading, while saying it would buy back shares worth $3.5 billion. The oil major also announced a 4% increase in its dividend. Since taking office two years ago CEO Wael Sawan has focused... Continue Reading →
TotalEnergies has awarded a contract to Stena Drilling for its Stena DrillMax drillship, which will be deployed for work offshore Suriname. As part of the contract, Stena DrillMax will perform managed pressure drilling of one exploration well in Suriname with TotalEnergies EP Suriname. The program, which is expected to start in the second quarter of... Continue Reading →
(Reuters) - Oil and gas producer Hess Corp's fourth-quarter profit surpassed Wall Street expectations on Wednesday, buoyed by higher production volumes in the United States and Guyana. Its total production rose over 18% to 495,000 barrels of oil equivalent per day (boepd) in the quarter, boosted by a 7% increase in volumes in the Bakken shale... Continue Reading →
(Reuters) Trinidad and Tobago on Tuesday offered 26 offshore oil and gas blocks in its largest-ever auction of areas for deepwater exploration and production, according to an official notice. The twin-island Caribbean country, Latin America's largest exporter of liquefied natural gas (LNG), is pushing producers, especially those offshore, to accelerate natural gas output in order... Continue Reading →
(Reuters) Wall Street expects U.S. oil and gas companies to keep a lid on spending in 2025 and keep their focus on generating shareholder returns, despite calls by President Donald Trump to "drill, baby, drill." Big Oil begins reporting fourth-quarter results this week, and outlooks for the coming year should reflect the dissonance between Trump's... Continue Reading →
(Reuters) - U.S. oil and gas producers are thrilled that President Donald Trump wants to encourage domestic energy development but say his decision to withdraw the United States from international climate cooperation will not help their investment plans in the global transition to cleaner energy. The position reflects a rare note of discord between Trump and Big Oil, one... Continue Reading →
(Reuters) - TotalEnergies said its fourth-quarter results would benefit from a slight pickup in refining margins, increased production and stronger gas trading and power sales, signalling a potential turnaround at the end of a year marked by low oil prices and refined products demand. The world's top oil and gas companies have watched their profits decline... Continue Reading →
Brazil Energy Insight 