Italian oil company Eni beat expectations with a 55 percent jump in fourth quarter profit as higher prices, mainly gas, offset a dip in production.Adjusted net profit was 1.459 billion euros ($1.65 billion), above an analyst consensus forecast provided by the company of 1…
BHP Group, the world's largest miner, said on Wednesday its board has approved $696 million in funding to expand production at the BP PLC-led Atlantis oil project in the U.S. Gulf of Mexico.The move comes about a month after London-listed oil…
Uganda expects to begin producing oil in 2022, its energy minister Irene Muloni said on Wednesday, indicating a slight delay from the east African country's revised target of 2021.Uganda discovered crude reserves more than 10 years ago but production…
Heavy lift specialist Roll Group said it has completed its activities on the expansion of the LNG plant at the Elba Island project in Savannah, Georgia.'The activities on Elba Island have come to an end for Roll-Lift USA. Mid-January the last equipment was removed…
Occidental Petroleum Corp on Tuesday reported a quarterly profit that beat analysts' estimates, helped by a surge in Permian basin production and higher realized prices for its crude.Production from its Permian resources unit rose 57 percent to 250…
OPEC cut its forecast for 2019 world oil demand on Tuesday due to slowing economies and expectations of faster supply growth from rivals, underlining its challenge to prevent a surplus even as it starts new production cuts.In a monthly report…
U.S. crude inventory has been hovering between 430 and 450 million barrels since early December — and remains around 6% above the five year average for this time of year.But there are indications that crude supply is beginning to decrease. U…
BP on Monday announced first gas production from the second stage of its West Nile Delta development offshore Egypt, marking the second start-up in a string of new upstream projects expected to be brought on line by the supermajor in 2019.The project…
U.S. oil and gas company Apache Corp said on Thursday it expects to spend much less on exploration and production this year than originally planned, becoming the latest shale producer to cut capital spending amid a fall in crude prices.Apache set a capital budget for oil production of $2…
French energy major Total said its net adjusted profit rose 10 percent in the final quarter of 2018, lifting its full year earnings by more than a quarter after record oil and gas production.Total said on Thursday that output reached an all-time high of 2…
Norwegian oil company Aker BP posted a smaller-than-expected increase in fourth-quarter earnings due to higher production costs and lower oil prices, but raised its dividend.The company said on Wednesday earnings before interest and taxes rose…
Austrian oil and gas group OMV on Wednesday said it would propose a dividend hike for 2018 after the company posted a 53 percent surge in fourth-quarter adjusted operating profit, topping estimates, buoyed by higher sales volumes in Russia and the United Arab Emirates…
US company Anadarko Petroleum has signed a major long-term contract to shore up its proposed liquefied natural gas (LNG) terminal in Mozambique.The Woodlands-based oil and gas company said that Mozambique LNG1 Company, the jointly owned sales entity of the Mozambique Area 1 co-venturers…
Oil and gas producer Anadarko Petroleum Corp on Tuesday reported a fourth-quarter profit that missed analysts' estimates by a wide margin, as it spent more on its projects in West Texas and northeast Colorado.Oil producers, betting on a recovery in oil prices since their slump in 2014…
BP's profit doubled to $12.7 billion in 2018, driven by strong growth in oil and gas output following the acquisition of a large portfolio of U.S. shale assets.The company's debt rose however, and the pace of its share buyback scheme slowed in the last quarter as it completed the $10…
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