North Sea oil and gas company Ithaca Energy reported a nearly 34% fall in net profit for the first half of the year on Thursday, hurt by lower production, a decline in natural gas prices and impairment charges.Shares of Ithaca, fell about 2…
Australian oil and gas producer Beach Energy, backed by billionaire Kerry Stokes, slumped to a more than 2-1/2-year low on Monday after it reported a decline in profit and downgraded reserves for a key gas field in Victoria state.The company's shares closed 12…
Investors cut their petroleum positions to the lowest level for at least a decade early last week, part of a broad-based retreat from risk amid rising concerns over a global economic slowdown.Hedge funds and other money managers sold the equivalent…
New Fortress Energy missed second-quarter earnings estimates on Friday after delays in starting up a floating LNG export facility off the coast of Altamira in Mexico.New Fortress stock was down 25% on Friday morning on Nasdaq.The company reported…
Brazilian state-run oil giant Petrobras on Thursday posted a net loss of 2.6 billion reais ($470 million) for the second quarter of 2024, the firm said as it announced lower-than-expected results and a reduction in investment estimates.Despite the results…
Harbour Energy, the largest British North Sea oil and gas producer, reported a net profit for the first half of the year from a year-earlier loss and narrowed its full-year 2024 total production outlook on Thursday.Following a spike in energy prices in 2022…
Occidental Petroleum on Wednesday beat Wall Street estimates for second-quarter profit, in the first results since it closed the $12 billion acquisition of CrownRock last week.The Houston-based oil and gas firm benefited from higher oil production and a rise in crude prices…
Early 2024 saw a group of financial deals that have implications, in a broad sense, for how offshore wind projects may be financed. While offshore wind projects might be thought of as being in the ‘utility finance’ basket, they are ultimately…
Oil giant Saudi Aramco on Tuesday reported a 3.4% fall in second-quarter profit on lower crude volumes and softer refining margins.Aramco posted second-quarter net income of 109.01 billion riyals ($29.03 billion) in the three months to June 30…
Chevron Corp on Friday posted sharply weaker second-quarter earnings and the oil major's CEO discounted the chance to close a $53 billion acquisition of Hess Corp before mid-2025, sending shares down 3%.Shares were off 9% since Wednesday following…
Exxon Mobil on Friday posted a better-than-expected $9.2 billion second-quarter profit based on rising output from its purchase this year of shale oil firm Pioneer Natural Resources.Exxon delivered a $2.14 a share profit that beat analysts'…
U.S. oil and gas producer ConocoPhillips' COP.N second-quarter profit beat Wall Street estimates on Thursday, benefiting from higher output and commodity prices.The beat comes as ConocoPhillips is pursuing a $22.5 billion takeover of Marathon Oil MRO…
Shell reported second-quarter profit of $6.3 billion, a drop of 19% from the previous three months, as refining margins and oil and gas trading weakened, though still beating analysts' forecasts.The results were nearly 25% higher than a year earlier…
Offshore drilling company Valaris has secured approximately $715 million in new contracts and extensions since its last fleet status report issued three months ago.Contract backlog of $715 million excludes lump sum payments such as mobilization fees and capital reimbursements…
BP increased its dividend and extended its share repurchasing programme on Tuesday as it reported a forecast beating second-quarter profit of $2.76 billion, with weak refining offset by stronger oil prices and retail.The result will ease pressure…
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