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(Reuters) Danish wind turbine maker Vestas reported on Wednesday a wider-than-expected operating loss for the third quarter, cutting its full-year outlook due to continued cost inflation and supply chain instability. Vestas cut its 2022 profit margin outlook to minus 5% from previously between minus 5% and 0%, and narrowed its full-year revenue forecast to between... Continue Reading →
(Reuters) - Exxon Mobil Corp (XOM.N) on Friday smashed expectations as soaring energy prices fuelled a record-breaking quarterly profit, nearly matching that of tech giant Apple. Its $19.66 billion third-quarter net profit far exceeded recently raised Wall Street forecasts as sky-rocketing natural gas and high oil prices put its earnings within reach of Apple's $20.7 billion net... Continue Reading →
(Reuters) - General Electric Co (GE.N) on Tuesday trimmed its full-year profit forecast after reporting a decline in third-quarter earnings, primarily due to higher warranty and related reserves at its renewable energy business. The company, however, reported much higher-than-expected free cash flow. Its quarterly revenue also topped Wall Street's estimates. GE's shares were down about 1.8% at... Continue Reading →
3R Petroleum announced Thursday evening (20) that it had signed a commitment to structure and issue debentures, with a firm placement guarantee, in the amount of US$ 500 million. This amount will join another US$ 500 million raised by the oil company in August, through financing led by Stanley Senior Funding. With this US$ 1... Continue Reading →
(Reuters) Oilfield service firms are poised to deliver the strongest third-quarter results in years as demand for equipment and services has risen despite supply chain snags and higher costs from inflation, according to analyst forecasts. Schlumberger, Halliburton, and others have struggled to regain pricing power after a 2016 price drop. The oil market crash during the pandemic... Continue Reading →
3R PETROLEUM ÓLEO E GÁS S.A. (“3R” or “Company”), following best practices in corporate governance and transparency, informs its investors and the market in general the preliminary unaudited production data for September 2022 in the assets that the Company holds participation. The Company is the operator of Macau, Areia Branca, Fazenda Belém, Rio Ventura, Recôncavo... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has started the opportunity disclosure stage (teaser), regarding the sale of 100% of its stake in Petrobras Operaciones S.A. (POSA), Petrobras' wholly owned subsidiary in Argentina, which holds a 33.6% stake in the Rio Neuquén Field. The teaser, which contains the key information about the opportunity, as... Continue Reading →
Offshore wind capacity could grow 56-fold until 2050, driven by a growing need for decarbonisation and energy security, and decreasing costs. Regarding the latter, bottom-fixed and floating offshore wind levelised costs of energy (LCoE) are forecast to drop by 39 per cent and 84 per cent, respectively, according to the new Energy Transition Outlook from... Continue Reading →
(Reuters) - Private equity fund Carlyle Group (CG.O) is preparing to launch the sale of its Gabon-focused oil and gas producer Assala Energy, hoping to raise over $1 billion amid high global energy prices, industry sources said. Carlyle International Energy Partners, the fund's energy arm, first invested in Assala in 2017 when it acquired Shell's (SHEL.L) operations in Gabon... Continue Reading →
(Reuters) - Argentine state-owned energy firm YPF (<YPFD.BA>) has seen its bonds and shares take off this year, despite a wider economic malaise, with hope of a shale boom in the South American nation's huge Vaca Muerta formation luring investors. The state firm's bonds have risen between 5-11% this year, even as some sovereign debt has plummeted... Continue Reading →
