Oslo-listed Vaar Energi, majority-owned by Italy's Eni, raised its dividend on Tuesday as the oil and gas exploration and production company reported a fourth-quarter operating profit in line with expectations.Vaar's earnings before interest…
Italian offshore energy services firm Saipem has entered into a new $620 million revolving credit facility with a pool of fourteen national and international financial institutions.The facility has a tenor of three years, extendable for a further…
BP reported quarterly profit of $1.17 billion on Tuesday, weaker than expected and the lowest in four years, while the company promised to reset its strategy, after news broke at the weekend that investor Elliott Management had built up a stake…
ConocoPhillips beat Wall Street estimates for fourth-quarter profit on Thursday, as higher production helped offset lower crude prices, and expects 2025 to be a peak spending year for its long-term projects.The company expects capital expenditure in 2025 to be $12…
Denmark's Orsted decided to cut its 2030 investment program by 25%, the renewable energy firm said on Wednesday, as the offshore wind industry grapples with rising costs and supply chain issues.The firm will now invest in the range of 210 billion to 230 billion Danish crowns ($29…
French oil major TotalEnergies beat expectations for fourth-quarter earnings on Wednesday as higher trading profits in the gas market helped it offset some of the impact of low oil prices and weak fuel demand.Adjusted net income for the final three months of 2024 was $4…
Norway's Equinor is reducing its ambitions for developing renewable energy capacity by 2030, it said on Wednesday, the latest move by a European energy company to cut green targets as the market for renewables sours.Equinor follows peers BP and Shell…
ExxonMobil on Friday beat Wall Street's estimate for fourth-quarter profit as higher oil and gas production offset lower oil prices and weaker refining margins.Its adjusted profit was $7.39 billion or $1.67 per share, beating analyst estimates of $1…
Shell on Thursday reported a fourth-quarter profit of $3.66 billion, missing estimates, on lower refining margins and lower liquefied natural gas (LNG) trading, while saying it would buy back shares worth $3.5 billion.The oil major also announced a 4% increase in its dividend…
BP will cut over 5% of its global workforce, it said on Thursday, as part of CEO Murray Auchincloss' efforts to reduce costs and rebuild investor confidence in the energy giant.Around 4,700 employees and 3,000 contractor positions will be cut this year…
BP warned on Tuesday that its fourth-quarter results will be hit by weaker oil and gas production, refining margins and trading, while also delaying a highly-anticipated investor day due to a medical procedure undergone by CEO Murray Auchincloss…
Irish ocean data company XOCEAN has secured $118.3 million investment to support its expansion across multiple offshore segments including wind development and operations, asset integrity assurance, CCUS, and civil hydrography.XOCEAN partnered with S2G Ventures to structure the round…
Exxon Mobil signaled on Tuesday that sharply lower oil refining profits and weakness across all its businesses would reduce its fourth-quarter earnings by about $1.75 billion from the prior quarter.The oil major also said in an SEC filing that…
Shell trimmed its liquefied natural gas production outlook for the fourth quarter on Wednesday and said oil and gas trading results are expected to be significantly lower than in the previous three months.In a trading update ahead of Jan. 30 full-year results…
Oil prices fell 1% on Friday and were headed for a weekly loss as analysts projected a supply surplus next year despite an OPEC+ decision to delay output hikes and extend deep production cuts to the end of 2026.Brent crude futures were down 85 cents…
Subscribe
