(Reuters) - Chevron Corp (CVX.N) on Friday posted a record $36.5 billion profit for 2022 that was more than double year-earlier earnings, but the bottom line fell shy of Wall Street estimates, undercut by asset writedowns and rising costs. The second largest U.S. oil producer's adjusted net profit for 2022 exceeded its previous record set in 2011 by about... Continue Reading →
(Reuters) Norway's Equinor has launched the sale of its stake in an offshore Nigerian oilfield, joining a retreat by Western energy firms from the West African country as they focus on newer and more profitable operations, three industry sources said. The company has hired investment bank Standard Chartered to run the sale process, which could... Continue Reading →
Energy producer Hess Corp. on Wednesday beat Wall Street estimates for fourth-quarter profit on higher crude prices, and said it had found more oil offshore Guyana. Western sanctions against major energy producer Russia and the decision of producer group OPEC+ to cut output by 2 million barrels per day pushed up Brent crude prices by... Continue Reading →
(Reuters) U.S. oil and gas producer Hess Corp on Tuesday forecast higher Exploration & Production (E&P) capital and exploratory budget of $3.7 billion for 2023, of which more than 80% would be allocated to Guyana and North Dakota's Bakken shale field. The company forecast 2022 E&P capital and exploratory expenditures of about $2.7 billion. The... Continue Reading →
(Reuters) - U.S. oil and gas deal-making declined by 13% last year to $58 billion compared to 2021, according to energy technology firm Enverus, with the volume of activity hitting its lowest level since 2005 as buyers became more choosy about asset purchases. The decline comes as large companies with strong balance sheets are targeting... Continue Reading →
(Reuters) - Ecuador's state oil company Petroecuador said on Friday that union workers had ended a three-day protest in Quito after reaching an agreement with the government over improved salaries. The company's workers began the protest on Wednesday to demand compliance with a judicial ruling that required workers' salaries to be brought in line with one another.... Continue Reading →
3R PETROLEUM ÓLEO E GÁS S.A. (“3R” or “Company”) (B3: RRRP3), following best practices in Corporate Governance informs its investors and the market in general the preliminary unaudited production data for December 2022. (1) Refers to the 35% Interest held by 3R in Pescada Cluster concessions. (2) In December, approximately 70% of the gas produced... Continue Reading →
Baker Hughes’ rig count report has revealed that the international offshore rig count experienced an increase of 30 units in 2022 compared to the figures from the year before. The overall international rig count including both offshore and onshore rigs was up 66 rigs from the 2021 count of 834. Source: Baker Hughes According to the report,... Continue Reading →
(Reuters) - The Fangtooth oil discovery in Guyana's waters is big enough to potentially require a platform for itself, which would be the seventh in the country, Hess Corp (HES.N) Chief Executive Office John Hess said in a conference on Thursday. Hess Corp is part of the Exxon Mobil Corp-led (XOM.N) consortium that has confirmed so far plans for... Continue Reading →
(Reuters) Brazilian oil company Petroreconcavo SA has agreed to buy Maha Energy's subsidiary in the Latin American country, the companies said on Wednesday, marking another step in the Brazilian firm's ongoing expansion. According to a securities filing, Petroreconcavo will pay $138 million for 100% of Maha Brasil, which operates oilfields in the country's northeastern region,... Continue Reading →
