Finance News

 

Exxon Appoints Bank to Sell Malaysia Assets

Oct 09, 2019

Exxon Mobil Corp has appointed Bank of America Merrill Lynch to run the sale of its Malaysian oil and gas assets as the U.S. firm accelerates a vast disposal program, banking and industry sources said.The Malaysian assets, which include stakes in two large fields, are expected to fetch up to $3 billion, the sources said.Exxon is exploring a sale of its Malaysian oil-and-gas producing assets, among a number of other properties worldwide…

Malaysia Could List Petronas' Exploration Arm

Sep 27, 2019

Malaysia is considering listing the exploration and production arm of state energy company Petronas, the world's third-biggest exporter of liquefied natural gas, state news agency Bernama reported on Friday citing Prime Minister Mahathir Mohamad…

Petronas Q2 Profit Rises 8%

Sep 20, 2019

Malaysia's state-owned energy firm Petroliam Nasional Bhd reported an 8% increase in second-quarter profit on Friday because of a weaker Malaysian ringgit, though that was partially offset by higher product costs.Petronas, as the company is known…

Saudi Aramco Pursues IPO Planning Despite Attack

Sep 17, 2019

Saudi Aramco is pressing ahead with its listing plans this week, although some investors and analysts doubt it can now meet its timeline as it has not said when oil output will be restored after attacks on its facilitiesReuters has reported it could take months for Aramco…

Tax Breaks Approved for Russia's Largest Oilfield

Sep 12, 2019

Russia's finance ministry has in principle approved tax breaks for developing the Priobskoye oilfield, Russia's largest, to oil giants Rosneft and Gazprom Neft, Alexei Sazanov, head of the ministry's tax department said on Thursday.He added…

GE to Shed Majority Control of Baker Hughes

Sep 11, 2019

General Electric is looking to raise up to $3 billion in sale of majority-owned Baker Hughes shares, resulting in a reduction of the U.S industrial conglomerate's stake in the oilfield services provider to less than 50%, Baker Hughes said on Tuesday…

Mexico Gives Pemex $5 Bln to Pay Debt

Sep 11, 2019

Mexico's government will give state-owned Pemex $5 billion so the world's most indebted oil company can pay off bonds, part of a plan to shore up accounts that also includes refinancing other bonds, the company said on Wednesday.Pemex, burdened by some $104 billion of debt…

Mexico, Pemex to Hedge Oil Output

Sep 09, 2019

The Mexican government has said in its 2020 budget proposal that it will maintain a strategy of hedging its oil output against lower prices.Mexico’s state oil company Pemex will also continue a similar but separate hedging program. Mexico’s…

Bribery Probe Slows Petrofac Sales

Aug 28, 2019

Petrofac Ltd on Wednesday reported a fall in first-half order intake and forecast lower 2020 revenue, citing uncertainty relating to an investigation into the oilfield services company's dealings in Saudi Arabia and Iraq.Petrofac, which designs…

Frontline buys 10 Tankers from Trafigura

Aug 23, 2019

Frontline will buy 10 Suezmax oil tankers from Trafigura in a cash and share deal worth up to $675 million, and may buy a further four vessels later, the two companies announced on Friday.The deal will allow Frontline, which is controlled by Norwegian-born billionaire John Fredriksen…

Gulf Marine CEO Quits in wake of Profit Warning

Aug 21, 2019

Gulf Marine Services said on Wednesday Chief Executive Officer Duncan Anderson has resigned as the oilfield industry contractor warned a reassessment of its ships and contracts showed profit would fall this year, kicking its shares 12% down…

Brent Oil Prices Rise Above $60

Aug 21, 2019

Brent crude oil futures rose above $60 a barrel on Wednesday after industry data showed a larger-than-expected drop in U.S. crude inventories, but lingering worries about a possible global recession capped gains.Brent crude had gained 26 cents…

Saudi Aramco Asks Banks to Pitch for IPO Roles

Aug 19, 2019

Saudi Aramco has formally asked major banks to submit proposals for potential roles in its planned initial public offering, two sources with direct knowledge of the matter said.Aramco's planned IPO, which could potentially raise $100 billion…

Woodside H1 Profit Slumps

Aug 15, 2019

Woodside Petroleum flagged a challenging near-term outlook on Thursday as it grapples to win over its partners to back $34 billion worth of new oil and gas projects amid a souring global environment.Australia's biggest independent oil and gas…

Oxy CFO Pledges to Quickly Pare Acquisition Debt

Aug 13, 2019

Occidental Petroleum Corp expects to quickly reduce the $40 billion in debt it took on with its purchase of Anadarko Petroleum, the company's finance chief said on Monday.Cedric Burgher, in his first public remarks since the $38 billion acquisition closed last week…

Current News

BP to Shut West Chirag Platform for Maintenance

BP to Shut West Chirag Platform for Maintenance

Exxon Appoints Bank to Sell Malaysia Assets

Exxon Appoints Bank to Sell Malaysia Assets

Oxy Books Supertanker for a Record $13.25 Mln

Oxy Books Supertanker for a Record $13.25 Mln

Sinopec Resumes Production at Sichuan Gas Processing Unit

Interra Resources Spuds First Well in Kuala Pambuang Block

Interra Resources Spuds First Well in Kuala Pambuang Block

Saipem Wins BP Azerbaijan Job

Saipem Wins BP Azerbaijan Job

Rosneft Makes Discovery Offshore Sakhalin

Rosneft Makes Discovery Offshore Sakhalin

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week