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(Reuters) - Spanish energy group Repsol (REP.MC) posted on Thursday a doubling in first-half net profit, boosted by high oil and gas prices, but its share price suffered as investors had wanted more. Rapidly recovering demand after COVID-19 lockdowns propelled energy prices to highs that have been driven to records by Russia's invasion of Ukraine, increasing profits... Continue Reading →
BP has reserved Yinson's Nganhurra floating, production storage and offloading (FPSO) vessel for use on its proposed 10-well subsea Palas, Astrea and Juno oil fields (PAJ Project), on Block 31, offshore Angola. Under an agreement signed between BP and Yinson, Yinson will exclusively allocate FPSO Nganhurra to BP for the PAJ Project until 31 December... Continue Reading →
(Reuters) - Shell (SHEL.L) on Thursday reported a second quarter profit of $11.5 billion, smashing its previous record just three months earlier, lifted by a tripling of refining profits and strong gas trading. The company also announced a share buyback program of $6 billion for the current quarter, but did not raise its dividend of 25 cents... Continue Reading →
(Reuters) - TotalEnergies (TTEF.PA) posted a surge in second-quarter profits, joining others in its sector that have benefited from higher energy prices, although its shares fell as its stock buyback plans disappointed some analysts and investors. Adjusted net income nearly trebled from a year ago to $9.8 billion, as the company cashed in on a rise in... Continue Reading →
2P reserves in the Atlanta field, in the Santos Basin, belonging to Enauta, went from 105.7 million barrels on December 31, 2021 to 155.7 million barrels on June 30, 2022. This is a 47% increase in 2P (Proved and Probable) reserves of the area. The new certification was carried out by the independent consultancy Gaffney,... Continue Reading →
(OEM) A consortium of Subsea 7 and Van Oord has won a contract by ExxonMobil affiliate Esso Exploration and Production Guyana Limited (EEPGL) related to the pipeline for the gas-to-energy project offshore Guyana. The scope under the “substantial” contract, as the companies define it, covers the project management, engineering, and installation of approximately 190 kilometers of pipeline in... Continue Reading →
Semi-submersible accommodation vessels owner and operator Prosafe said BP Trinidad and Tobago LLC (‘bpTT’) has exercised all four weeks of options for the Safe Concordia to continue providing gangway connected operations through September 2022 at Cassia C offshore Trinidad. Total value of the contract extensions is approximately $3.5 million. Safe Concordia is a DP2 semi-submersible... Continue Reading →
U.S. oil and gas producer Hess Corp reported a nine-fold increase in second-quarter adjusted profit on Wednesday, helped by a surge in energy prices following Russia's invasion of Ukraine. Oil prices have scaled multi-year highs this year as Western sanctions against major exporter Russia have squeezed an already under-supplied market. Global benchmark Brent crude was... Continue Reading →
(Reuters) Crude oil spilling from one of state-run PDVSA's joint ventures has hit an environmentally sensitive area at Venezuela's eastern region, three sources close to the operations said on Tuesday. Oil spills and gas leaks have become frequent in recent years in Venezuela, where lack of investment and delayed maintenance have contributed to the deterioration... Continue Reading →
(Reuters) - Europe's biggest utility Iberdrola (IBE.MC) posted a 36% rise in half-year net profit on Wednesday as strong results in the U.S., UK and Brazilian markets offset a fall at home in Spain. European energy prices have soared as markets still reeling from the havoc COVID-19 played on supply and demand were hit with supply disruptions... Continue Reading →
Brazil Energy Insight 