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Italian energy group Eni said on Friday its first-quarter net profit fell 11% year on year on lower oil and gas prices compared with the first three months of 2022, when Russia's invasion of Ukraine sent energy prices soaring. Adjusted net profit for the period came in at 2.91 billion euros ($3.2 billion), down from... Continue Reading →
(Reuters) - Exxon Mobil Corp (XOM.N) on Friday reported a record first-quarter profit that was more than double a year ago and topped Wall Street estimates as rising oil and gas output overcame a pullback in energy prices from high levels. Oil companies are riding a wave of strong demand and cost-cutting tied to efforts to counter... Continue Reading →
(Reuters) German chemicals group BASF on Thursday said it was working to exit energy business Wintershall Dea, with a stock market listing remaining the preferred option. CEO Martin Brudermueller also flagged a possible sale of the oil and gas producer to investors. "The exit will not take place immediately," Brudermueller said in a speech to... Continue Reading →
3R Petroleum Óleo e Gas S.A. (“3R” or “Company”) (B3: RRRP3) hereby reports its results for the first quarter of 2023 (“1Q23”). Except as indicated otherwise, the financial and operational information described hereinafter are presented on a consolidated basis, are expressed in Brazilian Reais (R$), and are in accordance with International Financial Reporting Standards -... Continue Reading →
Challenger Energy said Wednesday that it had identified three sizeable prospects in its AREA Off-1 offshore block in Uruguay of between 1 to 2 billion barrels and that the company said it would launch a farm-out process "following unsolicited interest from a number of industry counterparties." The company said that an initial prospect inventory of... Continue Reading →
ExxonMobil has made yet another oil discovery in Guyana's prolific Stabroek offshore block. The news of the new offshore oil discovery in Guyana was shared by Hess Corp., ExxonMobil's partner in the block, where around 11 billion barrels of oil have been discovered in recent years. According to Hess, a partner alongside China's CNOOC in... Continue Reading →
Brazilian oil firm Enauta has restarted production from its Atlanta field offshore Brazil following a brief interruption, but the 2HP well that was shut down Tuesday remains shut. First, the company on Tuesday said that it had temporarily interrupted the production of the Atlanta field and was evaluating the causes of the interruption. The company... Continue Reading →
(OE) Norwegian oil and gas company Vår Energi will collaborate with floating wind technology firm Odfjell Oceanwind and Source Galileo to pursue a pilot project for floating offshore wind at its Goliat oil field in the Barents Sea, offshore Norway. The Goliat platform is currently electrified and is supplied with power from shore through a... Continue Reading →
Operator Wintershall Dea and its partners Harbour Energy and Sapura OMV have made a significant oil discovery on the Kan exploration prospect in Block 30, located in the shallow waters of the Cuenca Salina in the Sureste Basin, offshore Mexico. Based on preliminary estimates, the discovery may contain 200 to 300 million barrels oil equivalent... Continue Reading →
(Reuters) Colombia's majority state-owned oil company Ecopetrol will use new technology, including artificial intelligence, to improve exploration success rates and boost output from existing fields, new Chief Executive Ricardo Roa said on Monday. Roa officially took over as CEO on Monday following his appointment earlier this month, replacing former chief Felipe Bayon amid a push... Continue Reading →
