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CNOOC Posts Record Interim Profit

Aug 28, 2024

Chinese offshore oil and gas major CNOC posted record first-half profit on Thursday, boosted by output growth and higher oil prices.Net profit attributable to shareholders rose 25% to 79.73 billion yuan ($11.19 billion), CNOOC said in a filing with the Hong Kong Stock Exchange.CNOOC's net production of oil and gas increased by 9.3% to 362.6 million barrels of oil equivalent as it expanded its reserve base…

Profit Decline, Reserves Downgrade Drag Beach Energy to 2.5-year Low

Aug 12, 2024

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…

ConocoPhillips Misses Quarterly Profit Estimates

May 02, 2024

U.S. oil producer ConocoPhillips missed Wall Street bets for first-quarter profit on Thursday, as lower natural gas prices and increased costs offset gains from higher oil production.A milder-than-expected winter hurt demand for the heating fuel in the quarter and pulled down U…

Exxon's $36 Billion Profit Beats Estimates

Feb 02, 2024

Exxon Mobil on Friday posted a better-than-expected $36 billion profit for 2023, lifted by fuels trading and higher oil and gas production.Oil majors are expected to report 2023 profits down by about a third from record levels in 2022, as oil…

Oil Investors to Usher in 2024 Amid Oversupply, Demand Concerns

Dec 14, 2023

Oil investors will usher in 2024 with gnawing concerns about oversupply, slowing economic growth and simmering Middle East tension that could spark price volatility.Benchmark Brent has averaged around $80 a barrel this year, after a volatile…

Environmental Groups Ask Lenders to Avoid LNG Project in Papua New Guinea

Dec 12, 2023

Major global lenders should refuse to finance a liquefied natural gas (LNG) project in Papua New Guinea to help keep global warming in check, civil society groups said on Wednesday, as some owners tap banks ahead of a final greenlight next year…

Saudi Aramco Net Profit Drops Broadly as Expected, Shares Inch Up

Nov 07, 2023

Saudi Aramco on Tuesday reported a 23% fall in third-quarter net profit on the back of lower oil prices and volumes sold, marginally beating analyst estimates and helping underpin its shares.Net profit fell to $32.6 billion for the quarter to Sept…

China CNOOC's Q3 Profit Down 8% on Yr Despite Higher Output

Oct 24, 2023

Chinese national offshore oil and gas major CNOOC Ltd, on Tuesday posted an 8.13% fall in third quarter profit on lower realised oil prices despite higher output.Net profit fell to 33.88 billion yuan ($4.64 billion), CNOOC said in a filing to the Hong Kong Stock Exchange…

Oil and Gas Driller ADES Holding Starts Marketing IPO to Institutional Investors

Sep 11, 2023

Oil and gas driller ADES Holding, backed by Saudi Arabia's sovereign wealth fund, began marketing its initial public offering on Sunday, seeking 12.50 riyals to 13.50 riyals a share.ADES plans to raise as much as 4.57 billion riyals ($1.22 billion)…

Petronas Posts Lower Profit as Energy Prices Drop

Aug 30, 2023

Malaysia's Petroliam Nasional Berhad (Petronas) will focus on bolstering its capital position to deal with increasing volatility in the energy market and 'restrictive' access to financing, the state oil firm's chief executive said on Wednesday…

Keppel Profit Soars on One-off Gain from O&M Unit Sale

Jul 27, 2023

Singapore's Keppel Corp KPLM.SI on Thursday reported a more than seven-fold jump in its first-half profit boosted by a one-off gain from the sale of its offshore and marine (O&M) unit and strong performance from the infrastructure business.Keppel…

BNP Paribas Will No Longer Finance Development of New Oil and Gas Fields

May 11, 2023

BNP Paribas, France's largest bank, will no longer provide any financing dedicated to the development of new oil and gas fields, and it reiterated it targets an 80% cut of its oil exploration financing by 2030. 'BNP Paribas no longer provides…

Japan's Inpex Posts 61% Jump in Q1 Net Profit

May 10, 2023

Japan's Inpex posted a 61% surge in first-quarter net profit to 151.5 billion yen ($1.12 billion) as higher oil and gas sales coupled with a weaker yen boosted financials, it said on Wednesday, falling slightly short of the market expectations…

Aramco Q1 Profit Falls 19% to $31.9B

May 09, 2023

Saudi oil giant Aramco posted a first-quarter net profit of 119.54 billion riyals ($31.88 billion) on Tuesday, a fall of about 19% from the previous year.It said the drop was mainly driven by lower crude prices, although partially offset by…

China's CNOOC Reports Record 2022 Profits

Mar 30, 2023

China's CNOOC more than doubled its net profit in 2022, benefiting from a year of elevated international oil and gas prices following Russia's invasion of Ukraine. The company, one of China's three largest state-controlled oil and gas companies…

Current News

Harbour Energy, Mubadala Sign Deals for Central Andaman Block Off Indonesia

Harbour Energy, Mubadala Sign Deals for Central Andaman Block Off Indonesia

CNOOC Brings Bohai Sea Oil Field On Stream

CNOOC Brings Bohai Sea Oil Field On Stream

TVO Selects Collins to Head Australian Ops

TVO Selects Collins to Head Australian Ops

QatarEnergy Signs Deal with Shell for Long-Term LNG Supply to China

QatarEnergy Signs Deal with Shell for Long-Term LNG Supply to China

Yinson and PetroVietnam JV Get FSO Contract for Vietnamese Field

Yinson and PetroVietnam JV Get FSO Contract for Vietnamese Field

Valeura Boosts Production at Jasmine Field with Five New Wells Now Onstream

Valeura Boosts Production at Jasmine Field with Five New Wells Now Onstream

Saipem Gets $1B Job at BP’s Indonesian Gas and CCUS Project

Saipem Gets $1B Job at BP’s Indonesian Gas and CCUS Project

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