Higher tax payments and foreign exchange losses pushed Mexico's Petroleos Mexicanos back into the red in the third quarter, even as crude production recovered somewhat, the state oil company said on Thursday.Pemex lost 77.2 billion pesos ($3…
Equinor plans to invest 25-35 billion Norwegian crowns ($3-$4.2 billion) to develop the so-called NOAKA oil and gas fields with partners in the North Sea, it said on Friday.The NOAKA (North of Alvheim Krafla Askja) project is set to come on…
Exxon Mobil on Friday pledged to revive a share repurchase program next year as its earnings outlook improved on quarterly results that topped analysts' estimates.The largest U.S. oil producer posted an adjusted profit of $1.58 a share, beating the Refinitiv estimate by two cents…
Norwegian oil and gas company OKEA, the operator of the giant Draugen platform off Norway, is working on a project that will see the offshore oil production facility powered by floating wind turbines.The news was shared by the recently formed…
Brazil's state-controlled oil company Petrobras said on Wednesday it has entered the binding phase for the sale of its stakes in the Urugua and Tambau fields in the Santos basin.The two fields belong to the BS-500 concession and are located in the north of the Santos Basin…
Chevron Corp on Friday posted its highest quarterly profit in eight years on surging oil and gas prices and as a recovery in motor fuel demand that boosted refining margins.The strong results came a day after top executives from major oil companies were grilled by U…
CNOOC Ltd's 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 an emissions-cutting roadmap…
Brazil's Petrobras posted third-quarter results on Thursday that smashed profit and margin estimates, less than two hours after President Jair Bolsonaro said the state-run oil company was too profitable and would have to contribute more to society as a whole…
Serica Energy's Columbus field in the UK North Sea will see its first production start-up delayed due to restricted capacity at Shell's Shearwater platform.The Columbus field development plan, approved in 2018, envisions the reservoir will be…
Swedish independent oil firm Lundin Energy will raise its dividend for 2021 by 25% after its third-quarter operating profit almost tripled from a year ago, the company said on Friday.Lundin's earnings before interest and tax (EBIT) for July-September rose to $1…
Italian energy group Eni on Friday beat expectations with a third-quarter profit that jumped back to pre-COVID levels boosted by higher gas prices.The group swung to an adjusted net profit of 1.43 billion euros ($1.67 billion) from a 153 million euro loss a year earlier and beat a 1…
Austrian oil and gas company OMV has agreed to sell its 25% stake in the Wisting offshore oil field in the Barents Sea off Norway, to the Swedish oil firm Lundin Energy for $320 million. OMV, which discovered the oil field in 2013, said it was focusing increasingly on low-carbon projects…
Norway's Aker BP said on Thursday it would increase its dividend payout as third-quarter profits soared on the back of strong oil and gas prices.Earnings before interest and tax (EBIT) for July-September rose to $849 million from $242 million a year ago…
Orcadian Energy, a UK North Sea-focused oil and gas development company previously known as Pharis Energy, has said it has received three expressions of interest for the provision of an FPSO for its Pilot field development.The company engaged…
A disruption at a gas well in Indonesia's Merakes gas field is likely to affect the project's production for as long as six months, an official at the country's oil and gas regulator said on Thursday.The disruption, caused by a sand blockage…