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(Reuters) - Italian energy group Eni (ENI.MI) pledged higher shareholder returns after swinging to a net profit in the second quarter to beat expectations as firmer oil prices offset lower production. Adjusted net profit was 929 million euros ($1.1 billion), compared with a loss of 714 million euros in the year-earlier period, Eni said on Friday. The... Continue Reading →
Italian energy services group Saipem on Friday forecast a sales pick-up in the second half after posting an operating loss in the first six months, hurt by the impact of the COVID-19 pandemic and problems with a wind project. The group posted an adjusted operating loss of 266 million euros ($316 million) for the first... Continue Reading →
(Reuters) - Chevron Corp (CVX.N) on Friday reported its highest profit in six quarters and joined an oil industry stampede to reward investors with share buybacks, as rebounding crude oil prices carried earnings and cash flow to pre-pandemic levels. Oil and gas are trading near multi-year highs as fuel consumption has thrown off pandemic losses and natural... Continue Reading →
(Reuters) - Exxon Mobil on Friday posted its biggest quarterly profit in more than a year that also topped analysts' estimates as demand for oil, gas and chemicals rebounded, quelling some investor concerns over its recent weak performance. The company's first results following a contested board fight over its direction highlighted how oil producers are taking... Continue Reading →
Brazilian oil and gas company PetroRio has been granted a royalty rate reduction for the Tubarão Martelo field by the country’s authorities in an effort to incentivize investment in revitalization. Brazil’s National Petroleum, Gas and Biofuels Agency (ANP) approved PetroRio’s Development Plan for the cluster consisting of the Polvo and Tubarão Martelo offshore fields, the... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 09/11/2020, informs that today it signed contracts for the sale of its 20% stakes in Termelétrica Potiguar S.A. (TEP) and 40% in Companhia Energética Manauara S.A. (CEM) to Global Participações Energia S.A. (GPE), through its subsidiaries GFT Participações S.A. and GFM Participações S.A.,... Continue Reading →
Singapore’s marine and offshore engineering player Sembcorp Marine saw its profit and revenues dip in the first half of the year due to project delays and increased costs caused by the Covid-19-related disruptions. Sembcorp Marine on Thursday posted a net loss of S$647 million (about $475.8 million) for the six months ended 30 June 2021 (1H2021), reflecting... Continue Reading →
(Reuters) - Norway's Equinor (EQNR.OL) and France's TotalEnergies (TTEF.PA) have agreed to sell their stakes in Venezuela's onshore Petrocedeno project to a unit of state oil firm PDVSA, which will become the sole owner, Equinor said on Thursday. TotalEnergies separately confirmed the transaction and said it would mean a loss of $1.38 billion for the French company. Prior to... Continue Reading →
(Reuters) - Europe's top energy companies signalled confidence in a lasting recovery from the pandemic impact by drawing on higher oil prices to boost shareholder returns and reassure investors as they roll out risky climate strategies. After swiftly cutting spending and jobs in response to the unprecedented collapse in energy demand last year, executives from... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the releases disclosed on 07/10/2020 and 12/30/2020, informs that it has signed a contract with the company Compass Gás e Energia S.A. (Compass) for the sale of all its stake (51%) in Petrobras Gás S.A. (Gaspetro). The sale value is R$ 2.03 billion, to be paid at... Continue Reading →
