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(Reuters) - Europe's top energy companies signalled confidence in a lasting recovery from the pandemic impact by drawing on higher oil prices to boost shareholder returns and reassure investors as they roll out risky climate strategies. After swiftly cutting spending and jobs in response to the unprecedented collapse in energy demand last year, executives from... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the releases disclosed on 07/10/2020 and 12/30/2020, informs that it has signed a contract with the company Compass Gás e Energia S.A. (Compass) for the sale of all its stake (51%) in Petrobras Gás S.A. (Gaspetro). The sale value is R$ 2.03 billion, to be paid at... Continue Reading →
TotalEnergies and APA Corporation have encountered oil in the Sapakara South-1 well on Block 58 off the coast of Suriname. This announcement follows previous discoveries at Maka Central, Sapakara West, Kwaskwasi, and Keskesi, making it TotalEnergies’ fifth discovery off Suriname. Located four kilometres southeast of the Sapakara West-1 discovery, Sapakara South-1 was drilled in a water depth of about... Continue Reading →
Royal Dutch Shell boosted its dividend and launched a $2 billion share buyback program on Thursday after a sharp rise in oil and gas prices drove second-quarter profits to their highest in more than two years. As profits across the industry recovered from last year's pandemic-led collapse in energy demand, peers TotalEnergies and Norway's Equinor... Continue Reading →
(Reuters) - U.S. oil output could take more than four years to reach pre-pandemic levels, oil producer Hess Corp (HES.N) said on Wednesday, sticking to its spending plan despite rising demand to focus on shareholders returns over growth. U.S. crude prices have jumped over 50% this year but in a departure from previous boom cycles, shale producers... Continue Reading →
(Reuters) - Mexico's state oil company Petroleos Mexicanos (Pemex) on Wednesday reported net profit of $722.5 million in the second quarter, swinging from a loss in the same period last year thanks to higher crude prices and production. The company said the 14.4-billion-pesos profit was due to higher income from international sales, which doubled from... Continue Reading →
ICR Integrity (ICR), an industrial maintenance and integrity company, has partnered up with Guyana-based Panthera Solutions (Panthera) to deliver its Technowrap and Quickflange technologies and other solutions and the booming oil and gas market in the region. Panthera provides fabric maintenance and deck services to offshore energy companies and their suppliers and employs a local... Continue Reading →
(Reuters/OE) Exxon Mobil reportedly made a new discovery at Whiptail in the Stabroek Block offshore Guyana, as it develops one of the world's most important new oil and gas blocks in the last decade. The company operates the 6.6-million-acre Stabroek Block as part of a consortium that includes Hess Corp and China's CNOOC Ltd. It... Continue Reading →
Equinor (STOHF) (OSE: EQNR, NYSE: EQNR) reports adjusted earnings of USD 4.64 billion and USD 1.58 billion after tax in the second quarter of 2021. IFRS net operating income was USD 5.30 billion and the IFRS net income was USD 1.94 billion. The second quarter of 2021 was characterised by: Strong results due to higher... Continue Reading →
(Reuters) - Wintershall Dea (WINT.UL) posted strong second quarter 2021 earnings as it benefited from firmer oil prices and reduced spending, its earnings report showed on Tuesday. The company, owned jointly by BASF (BASFn.DE) and Russia's LetterOne, posted earnings before interest, tax, depreciation, amortisation, and exploration expenses (EBITDAX), a standard oil industry measure, of 636 million euros... Continue Reading →
Brazil Energy Insight 