Petroleos Mexicanos swung to a 35.7 billion peso ($1.84 billion) net loss during the first quarter as revenues and crude output at the heavily-indebted Mexican state oil company fell, results posted to the stock exchange showed on Tuesday. Revenues at Pemex were 356.3 billion pesos during the January-March period, down 10.4 percent from 397.4 billion... Continue Reading →

Norwegian oilfield services provider Aker Solutions recorded an increase in its quarterly profit and revenues driven by high activity levels. Looking ahead, Aker Solutions expects an increase in energy demand. Aker Solutions recorded an increase in its first quarter 2019 net income which totaled NOK 149 million ($17.2M) compared to NOK 105 million ($12.1M) in... Continue Reading →

Oil and gas companies DEA and Wintershall have completed the previously announced merger agreement, creating Wintershall Dea, a company deemed the largest independent exploration and production company in Europe. In a joint statement on Wednesday, BASF (parent company of Wintershall) and LetterOne (parent company of DEA) said that Wintershall Dea would be managed by an Executive... Continue Reading →

Rio de Janeiro, April 30, 2019 - Petroleo Brasileiro S.A. - Petrobras will release 2019 first quarter results (1Q19) on May 7, after the closing of the market in Brazil (B3). On May 8 will be held two teleconferences/webcasts (Portuguese and English) to present its results to the company’s analysts and investors. The first, in... Continue Reading →

Baker Hughes reported negative free cash flow for the first quarter at a time energy investors have been pushing companies to aggressively shore up capital for dividends and buybacks, sending its shares down as much as 8.5 percent. Oilfield service companies, including bellweather Schlumberger NV and Halliburton Co, are planning to spend less in 2019,... Continue Reading →

4/30/2019 Volmir Korzeniewski will be, as of July 1, 2019, the new country manager and senior vice president for Products for Brazil at Aker Solutions. He replaces Maria Peralta, who takes the position of executive vice president for Aker Solutions Products in Norway. "Brazil continues to be an important market for Aker Solutions, as well... Continue Reading →

Russian gas producer Gazprom doubled its annual net profit last year, led by record sales to Europe despite pressure on EU states to diversify away from Russian energy imports. Gazprom is also working on contingency plans in case the undersea Nord Stream-2 gas pipeline to Germany is delayed and talks on a new gas transit... Continue Reading →

BP’s first quarter profits fell by nearly a third but beat forecasts as lower oil and gas prices and weaker refining margins were partly offset by higher production and stronger trading. The slump in profits marks the first significant dent in BP’s steady recovery over the past 18 months following the sector’s 2014 downturn. Continue... Continue Reading →

Billionaire Warren Buffet’s company Berkshire Hathaway has committed to invest $10 billion in Occidental Petroleum, subject to Oxy’s entering into and completing its proposed acquisition of rival Anadarko. According to Oxy’s statement on Tuesday, Berkshire Hathaway will receive 100,000 shares of Cumulative Perpetual Preferred Stock with a liquidation value of $100,000 per share, together with... Continue Reading →