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(Reuters) - Equinor (EQNR.OL) on Friday beat third-quarter profit expectations on strong energy trading and said it had overcome disruptions that hampered oil and gas output, boosting its shares. The Norwegian energy producer lowered its 2023 forecast for oil and natural gas output to 1.5% growth from 3% but said this was caused by extensive maintenance that... Continue Reading →
(Reuters) An appraisal well drilled by a consortium led by Exxon Mobil in Guyana has resulted in a "significant discovery" of oil and gas, the South American country's energy ministry said on Thursday. The Lancetfish-2 well results mark the fourth offshore discovery in the country this year, and brings the total number of discoveries from... Continue Reading →
Petróleo Brasileiro S.A. – Petróleo Brasileiro S.A. – Petrobras, regarding the pieces of news published in the media, informs that a mission of Petrobras executives was carried out in Bolivia with representatives of YPFB (Yacimientos Petrolíferos Fiscales Bolivianos). On that occasion, Petrobras executives heard about the opportunities presented by YPFB representatives, none of which were... Continue Reading →
(Reuters) U.S. oilfield technology firm Baker Hughes beat third-quarter profit estimates on Wednesday, driven by strong demand for its services and equipment in international markets. Energy firms booked record profits last year following a spike in commodity prices and have looked to invest these to boost production and find new deposits. The move benefited companies... Continue Reading →
(Reuters) TotalEnergies on Thursday posted a 35% fall in its third-quarter adjusted net income compared to a year ago, hurt by a drop in energy prices from highs hit following Russia's invasion of Ukraine. The French energy company's Q3 adjusted net income stood at $6.5 billion. That compared to a record adjusted net income of $10 billion... Continue Reading →
(Reuters) Energy company Repsol's REP.MC adjusted net profit fell 27% year-on-year in the third quarter because of lower oil and gas prices, it said on Thursday, adding it would further diversify into renewables to offset fossil fuel volatility. The company reported an adjusted net profit of 1.1 billion euros ($1.16 billion). That was below the... Continue Reading →
Petrobras announced that FPSO Almirante Barroso, installed in the Buzios field, reached its peak production of 150 thousand barrels of oil per day. The result represents another record for Petrobras' list, as the feat was achieved in 146 days (less than five months). The oil company's previous record had been set by FPSO P-76, which... Continue Reading →
(Reuters) - Colombia's oil and gas industry is not coming to an end due to the transition to cleaner energy, Ecopetrol (ECO.CN) CEO Ricardo Roa said on Tuesday, in response to a union statement which alleged executive decision-making is threatening the majority state-owned company's future. The government of President Gustavo Petro, Colombia's first leftist leader, has set... Continue Reading →
(Reuters) - Chinese national offshore oil and gas major CNOOC Ltd (0883.HK), on Tuesday revised up its 2023 capital spending to a record on building new production capacities, after reporting an 8.13% fall in third-quarter profit on lower realised oil prices. Despite higher oil and gas output, net profit during July-September period fell to 33.88 billion... Continue Reading →
(Reuters) - Chevron Corp (CVX.N) said on Monday it will buy smaller rival Hess Corp (HES.N) in a $53 billion all-stock deal, putting the company head to head with rival Exxon (XOM.N) in two of the world's fastest growing oil basins - shale and Guyana. The deal comes weeks after Exxon made a $59.5 billion offer for Pioneer Natural Resources (PXD.N) that would make it the biggest... Continue Reading →
Brazil Energy Insight 