Russia's No.2 oil producer Lukoil's fourth-quarter net profit rose to 159 billion roubles ($2.42 billion), up from 120.5 billion roubles in the same period a year earlier, the company said on Monday.Fourth-quarter revenue stood at 2 trillion roubles…
Hedge funds continued to boost their bullish position in crude and fuels last week despite a call from U.S. President Donald Trump for OPEC to 'relax and take it easy'.Hedge funds and other money managers were net buyers of an extra 16 million…
U.S. energy firms this week cut the number of oil rigs operating to the lowest in almost nine months as some producers follow through on plans to cut spending despite an over 20-percent increase crude futures so far this year.Drillers cut 10 oil rigs in the week to March 1…
Petroleo Brasileiro SA is expanding its ambitious divestment program and has 'bold' plans for future sales, the Brazilian state-run oil company's chief executive said after the firm reported its first annual profit in five years.On a post-results conference call with analysts on Thursday…
For a proposed statute still at the first stage of the legislative process, with only a handful of sponsors in the U.S. Congress, the “No Oil Producing and Exporting Countries Act of 2019” (NOPEC) is generating a lot of comment.The amount of…
Record U.S. output, exports offset some of OPEC's cuts.Oil prices were broadly steady on Friday as surging U.S. supply and concerns of a global economic slowdown were offset by falling OPEC output.International Brent crude futures were at $66…
Dutch banking group ING and the European Investment Bank said they will provide a EUR 110 million ($123 million) loan to Dutch ship management firm Spliethoff’s Bevrachtingskantoor B.V. for retrofitting vessels with exhaust gas cleaning systems…
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…
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