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Noble Corporation has won contracts with UK-headquartered energy giant Shell and Brazilian state-owned oil and gas giant Petrobras, respectively, for two of its 7th-generation drillships. Shell has contracted Noble Voyager to drill a deepwater exploration well offshore Mauritania. The drillship is currently operating for the energy giant offshore Mexico. The new contract has an estimated... Continue Reading →
(Reuters) - Shell (SHEL.L) on Thursday posted first-quarter net profit of $9.65 billion, topping analysts' forecasts, as strong earnings from fuel trading and higher liquefied natural gas (LNG) sales offset cooling energy prices. The stronger-than-expected profits followed a string of forecast-beating results from rivals including BP (BP.L) and Exxon Mobil (XOM.N) as the sector continues to benefit from strong demand and price volatility.... Continue Reading →
(Reuters) The head of oil major Shell Plc's Brazilian operations on Monday said a temporary oil-export tax established in March was a concerning development that could hurt the country's investment attractiveness. Brazil's government in March said the temporary, four-month tax would compensate for its decision to partially maintain a tax exemption on fuels for consumers,... Continue Reading →
(Reuters) - BP (BP.L) made a profit of $5 billion in the first quarter of 2023, up from the previous three months on the back of strong oil and gas trading, but the company's shares fell as it slowed a share buyback programme. BP's results, which beat forecasts, follow a strong showing by rivals including Exxon Mobil (XOM.N) and Chevron last week... Continue Reading →
(Reuters) - Oil major Chevron Corp (CVX.N) beat market expectations on Friday as profit nudged higher in the first quarter, with earnings from refining compensating for slides in energy prices as well as oil and gas production. Net profit climbed 5% to $6.57 billion or $3.46 per share. Results beat consensus by 4%, according to Refinitiv data.... Continue Reading →
(Reuters) - Exxon Mobil Corp (XOM.N) has held preliminary talks with Pioneer Natural Resources Co (PXD.N) about a possible acquisition of the U.S. shale oil producer, the Wall Street Journal reported on Friday, citing people familiar with the matter. Discussions between the two companies about a potential deal have been informal, the newspaper said, adding that Exxon executives have discussed a... Continue Reading →
Exxon Mobil Corp has ended a major campaign to find oil in Brazil, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The oil and gas giant has stopped current drilling at the offshore acreage it started snapping up with partners for $4 billion in 2017, after failing for the third time to... Continue Reading →
(Reuters) - Exxon Mobil Corp (XOM.N) on Tuesday signaled in a securities filing that first-quarter operating profits dropped about 25% from last year's record levels as oil and gas prices eased. Operating results could drop to about $9.6 billion, compared to $12.8 billion net profit from the fourth quarter, according to a snapshot of factors affecting first... Continue Reading →
(Reuters) - Exxon Mobil Corp's (XOM.N) Low Carbon business has the potential to generate hundreds of billions of dollars in revenue and outperform the company's traditional oil and gas as soon as a decade from now, CEO Darren Woods said. The largest U.S. oil producer on Tuesday laid out to investors the aims of its emerging energy transition strategy... Continue Reading →
(Reuters) - Shell (SHEL.L) is splitting up its renewables and low-carbon division as part of CEO Wael Sawan's shake-up to boost the energy giant's returns. The changes come as Sawan, who took office at the start of the year, has signalled in recent weeks that Shell is considering ditching oil reduction output targets as part of its... Continue Reading →
Brazil Energy Insight 