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(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 →
(OE) As the energy transition accelerates, upstream companies are under pressure to decarbonize, and this is likely to intensify. Governments, investors, financial markets, society, along with other stakeholders are pushing for change. Companies need to define their strategy and act to future-proof their business and retain their social licence to operate. There are strategic advantages... Continue Reading →
Oilfield services provider Baker Hughes is set to change its listing from the New York Stock Exchange (NYSE) to Nasdaq Global Select Market (Nasdaq). Baker Hughes reported on Wednesday that it will transfer the listing of its common stock and listed bonds from the NYSE to the Nasdaq. Lorenzo Simonelli, Baker Hughes chairman and CEO, explained: “Baker Hughes is a leading... Continue Reading →
Global wind power leader Iberdrola reported a 10% fall in net profit on Wednesday but beat market expectations for a turbulent nine months on energy markets which saw its home government in Spain swoop on utilities' earnings. Power and gas prices have soared to record highs around the world as economies fired up after the... Continue Reading →
Japanese oil and gas producer Inpex has sold all shares in its subsidiary Teikoku Oil (D.R. Congo) to Perenco Energies International and divested all its interests in the offshore block in the Democratic Republic of the Congo. Inpex reported the sale on Wednesday. The company previously held a 32.28 per cent participating interest in the... Continue Reading →
(Reuters) - U.S. oil producer Hess Corp (HES.N) on Wednesday reported a better-than-expected quarterly profit, as soaring prices for crude and gas cushioned the hit from lower production. Shale producers in the United States are poised to deliver their strongest earnings since the onset of the COVID-19 pandemic as prices for oil and gas have sky rocketed. read... Continue Reading →
(Reuters) - Norway's Equinor (EQNR.OL) posted its strongest quarterly result in nine years on Wednesday, driven by a global energy supply crunch that pushed Europe's natural gas prices to record highs and sent the value of derivative contracts soaring. Equinor has the largest exposure to spot gas prices among big oil companies and its results come ahead... Continue Reading →
Vallourec has signed a ten-year frame agreement with Esso Exploration and Production Guyana Limited (EEPGL), an affiliate of ExxonMobil, to supply line pipe products in Guyana. Under the agreement, Vallourec will act as a strategic supplier of seamless tubes for future projects in Guyana to build subsea flowlines and risers. The company’s line pipe is... Continue Reading →
