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(Reuters) - Chevron Corp (CVX.N) posted on Friday its highest quarterly profit in eight years, thanks to surging oil and gas prices and a recovery in motor fuel demand that boosted refining margins. The strong results came a day after U.s. lawmakers grilled top executives of major oil firms over the industry's past dismissals of climate warming.... Continue Reading →
(Reuters) - Exxon Mobil Corp (XOM.N) remains focused on hydrocarbons and plans to press ahead with a $30 billion liquefied natural gas project in Mozambique, a top executive said on Thursday. "We've been in hydrocarbons for over 130 years... it's the core part of our business and it will be for a long time," Exxon Senior Vice... Continue Reading →
(Reuters) - Mexican state oil company Petroleos Mexicanos on Thursday reported a 2021 third-quarter net loss of 62.8 billion pesos ($3 billion), following higher tax payments and "significant foreign exchange losses". The loss marked a reversal from the same period last year, when Pemex (PEMX.UL) posted a net profit of 1.4 billion pesos, helped by... Continue Reading →
(OE) A complete subsea factory may yet be a pipe dream. However, with its constituent parts now more or less ready, the industry has a much greater toolbox of technologies with which it can now apply to existing and new subsea developments. But is there willingness, even with the temptation of being able to reduce... Continue Reading →
(Reuters) - Spanish energy company Repsol (REP.MC) on Thursday said it would raise its dividend and buy back shares after strong oil and gas prices helped to lift third-quarter profit above pre-pandemic levels. Global energy prices have soared as economies rebound from the coronavirus crisis, generating cash that can be returned to shareholders and spent on the... Continue Reading →
Oil major Shell has set a new target to reduce its Scope 1 and 2 emissions by 50 per cent compared to 2016 levels by 2030, regardless of the outcome of its appeal against the Dutch Court’s ruling. Shell announced an absolute emissions reduction target of 50 per cent by 2030, compared to 2016 levels on... Continue Reading →
(Reuters) - CNOOC Ltd's(0883.HK) unaudited third-quarter revenue grew 64% to 59.7 billion yuan ($9.33 billion) on higher prices and output, the Chinese offshore oil and gas major said on Thursday. The state oil firm said it is mapping out a emission-cutting roadmap together with parent company China National Offshore Oil Company under the broad national framework... Continue Reading →
(Reuters) - TotalEnergies (TTEF.PA) said high gas prices in Europe and Asia could last into spring as the French energy group reported a sharp rise in third quarter earnings on Thursday on surging power prices. The company's third-quarter adjusted net profit soared to $4.8 billion, from just $848 million last year, from core earnings that more than... Continue Reading →
Royal Dutch Shell set itself tougher emissions-cutting targets on Thursday, even as it reported a lower-than-expected third-quarter profit of $4.13 billion. The oil major said it would cut absolute emissions from its operations and the electricity it uses, known as Scope 1 and 2 emissions, by half by 2030 compared with 2016. The company has... Continue Reading →
Hess Corp expects to produce more than 1 million gross barrels of oil per day (bpd) in Guyana by 2027 from at least six production units, the U.S. oil producer said on Wednesday. The projection comes shortly after a second floating production system [Liza Unity] arrived in the South American country's waters. Hess added that it... Continue Reading →
