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Tullow Oil Returns to Net Profit

Feb 13, 2019

Africa-focused Tullow Oil reported its first annual net profit in five years on Wednesday and said it would resume dividends with a 4.8 cent per share payout as it sets its sights on East African projects and drilling in Guyana.As flagged in November…

Uganda Expects Delayed First Oil Production

Feb 13, 2019

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…

Kvaerner to Pay First Dividend Since 2015

Feb 12, 2019

Oil platform builder Kvaerner on Tuesday unexpectedly proposed its first dividend since 2015 and said it may make another such payment later this year, sending its shares soaring.The company said it expected to compete for contracts worth 30-50 billion Norwegian crowns ($3…

Seismic Surveys Delayed in US Arctic

Feb 11, 2019

There will be no seismic exploration this winter on the coastal plain of the Arctic National Wildlife Refuge, the Interior Department said on Friday, after the company seeking permission to conduct the tests ran out of time to get the required permit…

DNO 2019 Spending to Rise Sharply

Feb 07, 2019

Norwegian oil firm DNO reported on Thursday a higher-than-expected operating profit in the fourth quarter and said it would hike 2019 spending as it planned to drill a record number of wells.The Oslo-listed firm, which produces most of its oil in the Kurdistan region of Iraq…

BSOG to Go Ahead with Midia Offshore Project

Feb 07, 2019

Romanian-based Black Sea Oil & Gas, controlled by private equity firm Carlyle Group LP, said on Thursday it has decided to go ahead with its $400 million offshore gas project in Romania, the first such project to be developed in 30 years.The…

NOIA Statement on Trump’s SOTU Address

Feb 06, 2019

Increase Access to All Offshore Energy Sources for American Energy Greatness.National Ocean Industries Association (NOIA) President Randall Luthi issued this statement following President Trump’s State of the Union address:“In his second State of the Union address…

Aker BP Raises Dividend, Q4 Profit Lags

Feb 06, 2019

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…

OMV Q4 Core Profit Surges

Feb 06, 2019

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…

QP, Exxon to Build $10B LNG Plant in Texas

Feb 05, 2019

Exxon Mobil and Qatar Petroleum announced a final decision to finance a $10 billion-plus project to export liquefied natural gas (LNG) from the Texas Gulf Coast.Construction of the Golden Pass LNG export project located in Sabine Pass will begin…

Anadarko Profit Misses as Costs Rise

Feb 05, 2019

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…

US Shale Lifts Exxon, Chevron Profits

Feb 01, 2019

Exxon Mobil Corp and Chevron Corp, two of the world's largest oil producers, on Friday posted improved quarterly earnings that benefited from double-digit percentage increases in production from the top U.S. shale field.Shares of both companies rose about 3 percent…

Chevron's Profit Rises

Feb 01, 2019

U.S. oil and natural gas producer Chevron Corp on Friday reported quarterly earnings that topped analysts' estimates on higher prices and production, sending shares higher in premarket trading.Results for the San Ramon, California, company reflected a 12…

ExxonMobil Profit Tops Estimates

Feb 01, 2019

Exxon Mobil Corp on Friday reported a quarterly profit that topped analysts' estimates, pushing it shares up nearly 3 percent in premarket trading as its oil and natural gas output rose slightly on a year-over-year basis.The company's fourth-quarter net income fell to $6 billion…

Orsted Full-year Profit Beats Expectations

Jan 30, 2019

Danish offshore wind developer Orsted reported full-year profit above expectations on Wednesday and said it would consider restarting its activities in Taiwan following a new proposal from the local government.Orsted earlier this month put two…

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