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(Reuters) - Oil prices rose on Friday, heading towards a sixth consecutive weekly gain, as geopolitical tensions continue to raise supply concerns. Brent crude futures were up 63 cents, or 0.7%, at $89.97 a barrel by 1013 GMT, having hit $91.04 on Thursday for their highest since October 2014. U.S. West Texas Intermediate (WTI) crude... Continue Reading →
(Reuters) - Finland's Wartsila (WRT1V.HE) posted on Friday a surge in orders and solid sales and profits, but its operating margin and proposed dividend disappointed, sending shares in the marine and energy equipment maker down more than 8%. Comparable operating margin rose to 9.9% from 8.4%, but missed the 10.5% estimate in a poll of analysts provided... Continue Reading →
(Reuters) Siemens Energy has stepped up efforts to explore a full integration of wind turbine business Siemens Gamesa, sources told Reuters, after profit warnings and share price slumps last week exposed flaws in the current ownership structure. The company is currently working with advisers to look at options for how to best acquire the remaining... Continue Reading →
A federal judge invalidated the results of an oil and gas lease sale in the Gulf of Mexico on Thursday saying the Biden administration failed to properly account for the auction's climate change impact. The decision has cast uncertainty over the future of the U.S. federal offshore drilling program, which has been a big source... Continue Reading →
Panoro Energy said Thursday it had received government approvals to sell its interest in the OML 113 offshore block in Nigeria to PetroNor. The company will sell its stake in Aje Petroleum which holds a 6.502% participating interest, with 16.255% cost-bearing interest, representing an economic interest of 12.1913% in OML 113, which includes the Aje... Continue Reading →
(Reuters) - Oil extended gains to seven-year highs above $90 a barrel on Thursday as the Ukraine crisis outweighed signs that the U.S. Federal Reserve will tighten monetary policy. Brent crude futures were up 89 cents, or 1%, at $90.85 a barrel by 1217 GMT. U.S. West Texas Intermediate (WTI) crude futures were up 87... Continue Reading →
(Reuters) - Exxon Mobil Corp. (XOM.N) next month plans to start production at its second oil platform in Guyana, a person familiar with the matter said on Tuesday. Guyana is one of Exxon's top bets for production growth. Its recent discoveries are expected to drive recoverable oil and gas volumes beyond 10 billion barrels, the person said.... Continue Reading →
U.S. oil and gas company Hess Corporation returned to profit during the fourth quarter of 2021, bolstered by higher oil and gas prices. Hess reported on Wednesday a net income of $265 million in the fourth quarter of 2021, compared with a net loss of $97 million in the fourth quarter of 2020. The company also reported... Continue Reading →
Peru's environmental regulatory agency said on Wednesday it was investigating the possibility that Spanish energy company Repsol SA was responsible for a second oil spill in as many weeks off the country's central Pacific coast. The suspected new spill may have occurred on Tuesday as Repsol's La Pampilla refinery was withdrawing oil reception and dispatch... Continue Reading →
Oil touched $90 a barrel for the first time in seven years on Wednesday, supported by tight supply and rising political tensions in Europe and the Middle East that raised concerns about further disruption in an already-tight market. Brent crude rose $1.67, or 1.9%, to $89.87 by 10:40 a.m. EST (1540 GMT), after hitting $90.02,... Continue Reading →
