Brazilian state-run oil firm Petroleo Brasileiro SA reported its first annual profit in five years on Wednesday as it swung to a net profit in the fourth quarter, although one-time provisions and writedowns led it to miss estimates.In a securities filing…
Mexico's national oil company Pemex narrowed its multibillion-dollar losses last year, executives said on Wednesday, as it seeks to fast-track the development of 20 new fields this year in a bid to bring new streams of crude online.Long a source of Mexican pride and a potent political symbol…
Mexican state oil company Pemex reported a loss of 125.5 billion pesos ($6.4 billion) for the fourth quarter on Wednesday, narrowing its loss from the same period in 2017, as the firm's finances face renewed scrutiny following a credit downgrade last month…
Saudi Aramco has added Goldman Sachs as a bookrunner for a planned bond which will help finance its purchase of a stake in Saudi Arabian Basic Industries Corp (SABIC), two sources familiar with the matter told Reuters.The U.S. investment bank…
Chesapeake Energy Corp's quarterly profit beat analysts' estimates on Wednesday and the company said it expects to produce more crude oil in 2019, boosted by its acquisition of WildHorse Resource in October.Chesapeake's shares rose 10 percent before the opening bell…
Mexico's president said on Tuesday his government would push for an investigation into the hundreds of millions of dollars squandered by state oil company Pemex after its purchase of two struggling fertilizer plants during the previous administration…
U.S. crude inventories seen up for sixth week; prices helped by OPEC cuts, U.S. sanctions.Brent oil edged up to $65 a barrel on Tuesday as Saudi Arabia and the rest of OPEC were expected to stick to their production cuts, despite renewed pressure from U…
Seadrill's core earnings for the fourth quarter exceeded the company's own guidance, boosted by lower costs and one-off items, while the market outlook for drilling rigs was improving, the Oslo and New York-listed firm said on Tuesday.The company…
Workers at three of Total's North Sea oil and gas platforms will hold a series of strikes between March 11 and May 8, Britain's Unite union said on Tuesday.Unite members on the Elgin Franklin, North Alwyn and Dunbar platforms will take part in a continuous ban on overtime on March 11…
Drilling rig contractor Maersk Drilling, which will soon list on the Copenhagen stock exchange, said the offshore drilling market is improving as oil firms generate more cash and look to boost reserves.A fall in oil prices in 2014 prompted a…
Abu Dhabi State-Owned Oil Company Adnoc has sealed a $4 billion midstream pipeline infrastructure deal with BlackRock, the world's largest asset manager, and private equity firm KKR & Co.The Middle East national oil company said that the transaction includes the creation of Adnoc Oil Pipelines…
Jeffrey Skilling, the onetime chief of Enron Corp who was sentenced to 24 years in prison for his conviction on charges stemming from the company’s spectacular collapse, has been released from federal custody, the Houston Chronicle reported on Thursday…
U.S. crude stocks rise to 454.5 mln barrels as crude exports from U.S. hit record 3.6 mln bpd.Oil prices rose on Friday, supported by OPEC's ongoing supply cuts and hopes that Washington and Beijing may soon end their trade dispute.International Brent crude futures hit a new 2019 high of $67…
Mexico's state-oil company Pemex burned through $665 million at its fertilizer unit, ignored consultants and made high-risk investments with no discernible business strategy, according to a devastating government audit of its 2017 operations…
Private equity firm HitecVision is seeking to sell its British North Sea oil and gas production unit Verus Petroleum, which last year completed a string of large acquisitions ramping up its output, industry and banking sources said.The sale…
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