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(Reuters) - Chevron Corp (CVX.N)posted its biggest quarterly earnings ever on Friday, built on strong fuel margins and high prices for natural gas and oil, and boosted its share buyback target. The oil major posted second-quarter net profit of $11.6 billion, or $5.95 per diluted share, more than triple the $3.1 billion, or $1.60 per share,... Continue Reading →
(Reuters) - Exxon Mobil Corp (XOM.N) on Friday posted its biggest quarterly profit ever on the back of soaring energy prices and as it kept a tight rein on spending. The top U.S. oil producer reported second-quarter net income of $17.9 billion, or $4.21 per share, an almost four-fold increase over the $4.69 billion, or $1.10 per... Continue Reading →
(RE) Two of the world’s biggest energy companies have formed a joint venture to build green hydrogen ‘production hubs’ in Spain, Portugal and UK, with an intention to explore opportunities in other geographies. Spain’s Iberdrola — the world’s third-largest power company and a major renewables developer — and BP, the sixth-largest oil company, say they... Continue Reading →
(Reuters) - Mexican national oil company Pemex reported on Thursday itssecond-quarter net profit jumped more than nine-fold to $6.53 billion due in part to higher sales plus tax benefits. Revenue for the company, formally known as Petroleos Mexicanos,soared nearly 89% to 655.2 billion pesos. Meanwhile, debt during the three-month period ending in June held steady... Continue Reading →
(OEM) Italian oil and gas company Eni has drilled and tested an exploration well in waters offshore Ivory Coast (Côte d’Ivoire), delivering a 25 per cent increase to the field’s reserves. Eni revealed on Thursday it has successfully drilled the Baleine East 1X well, the first exploration well in block CI-802 and the second discovery on... Continue Reading →
Eni, with its partners in the New Gas Consortium, has taken a final investment decision in Angola's first non-associated gas development project, the development of the Quiluma and Maboqueiro (Q&M) fields. The project includes two offshore wellhead platforms, an onshore gas processing plant and a connection to Angola LNG plant for the marketing of condensates... Continue Reading →
(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 →
