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Shell Greenlights $7B Shares Buyback 'At Pace' Despite LNG Woes

Jan 07, 2022

Royal Dutch Shell said it will pursue 'at pace' a $7 billion share buyback largely funded from the sale of its U.S. shale business as it faces liquefied natural gas (LNG) outages and slower fuel sales due to the economic hit from Omicron.Shares in Shell, the world's largest trader of LNG, were down 0.32% on Friday after a trading update ahead of its quarterly results on Feb. 3. This compared with a 0…

Abu Dhabi's Offshore Service Firm ZMI Secures up to $500M Financing Facility

Jan 11, 2022

Abu Dhabi's offshore marine services company ZMI Holdings said on Tuesday it had signed and closed a new senior secured financing facility of up to $500 million.It will help ZMI invest further in its growth markets, and provide committed and…

Petrofac Expects Drop in Annual Revenue on COVID-19 Woes, Weak Orders

Dec 16, 2021

British oil services firm Petrofac Ltd said on Thursday it expects its revenue for the financial year to be down by about a quarter, as low order intake and the coronavirus pandemic continued to dent its operations.The company forecasts its annual revenue to come in at about $3 billion…

'Cash Machine' BP Sees Profit Surge

Nov 02, 2021

BP added more than a billion dollars to its share buyback program on Tuesday as it likened itself to a 'cash machine' benefiting from higher oil and gas prices and a strong trading performance in the third quarter.Natural gas and power prices…

Exxon Posts Strongest Results Since 2017

Oct 29, 2021

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…

Chevron Posts Highest Quarterly Profit in Eight Years

Oct 29, 2021

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…

China's CNOOC Sees Q3 Revenue Soar, Reaffirms Green Investment

Oct 29, 2021

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…

Eni Q3 Profit Jumps Back to pre-COVID Levels Boosted by Gas

Oct 29, 2021

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…

TotalEnergies Says Gas Prices Should Stay High, Q3 Earnings Soar

Oct 28, 2021

TotalEnergies' earnings rose sharply in third quarter, the French energy group said on Thursday, as it reaped the rewards of surging power prices and predicted gas prices would remain high in Europe and Asia though next spring.The company's third-quarter adjusted net profit soared to $4…

Schlumberger 3Q Profit Rises as Oilfield Services Demand Recovers

Oct 22, 2021

Schlumberger NV reported a rise in third-quarter adjusted income on Friday, buoyed by higher demand for the company's oilfield services and related equipment from producers looking to capitalize on a rebound in crude prices.Global crude prices rose 4…

CNOOC Seeks to Raise $5.4B to Fund Key Oil and Gas Projects

Sep 27, 2021

China's state-run offshore oil and gas major CNOOC Ltd said it plans to raise up to 35 billion yuan ($5.41 billion) in a new share issue on the Shanghai stock exchange to fund several key oil and gas projects.The domestic fund-raising plan came as U…

Petronas Swings to 2Q Profit. CEO Says Oil Market Recovery 'Fragile'

Aug 27, 2021

Malaysian state energy giant Petronas announced a flip to a second-quarter profit on Friday on the back of a recovery in prices and demand, but said it will be a 'long, drawn out process' before the industry returns to pre-pandemic levels.Petronas…

CNOOC Sees 1H Profit Soar

Aug 19, 2021

China's top offshore oil and gas driller CNOOC Ltd said on Thursday its first-half net profit more than tripled from a low base last year, supported by rebounding oil prices and recovering energy demand after the pandemic.CNOOC Ltd, a listed branch of China National Offshore Oil Corp…

ConocoPhillips Beats Estimates on Higher Prices, Output

Aug 03, 2021

ConocoPhillips on Tuesday posted a second-quarter profit that nearly doubled from the first and topped analysts estimates, helped by higher oil and gas prices and production.A recovery in fuel demand from a pandemic-forced slump has boosted globally-traded crude prices to over $70…

Qatar Petroleum Hires Banks for Jumbo Bond Sale

Jun 28, 2021

Qatar Petroleum has hired a group of banks to arrange a four-tranche issuance of U.S. dollar-denominated bonds, a document showed, for what will be its debut public bond sale months after it signed a contract to boost its liquefied natural gas output…

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Iberdrola Joins Five Early-Stage Offshore Wind Projects in the Philippines
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