Finance News

 

Galp Reports 29% Profit Fall

Apr 28, 2025

Portugal's Galp Energia reported a 29% drop in adjusted first-quarter core profit on Monday, hit by falling oil output and a decline in refining margins to less than half the levels booked a year ago.Adjusted earnings before interest, taxes…

SLB Misses Profit Estimates for First Quarter of 2025

Apr 25, 2025

Top oilfield services provider SLB missed estimates for first-quarter profit on Friday, as weaker Latin American demand dragged on its international business, and the company warned of a potential industry-wide shift due to economic uncertainty…

Eni Reports Smaller Profit Drop Than Expected

Apr 24, 2025

Italian energy group Eni on Thursday reported a smaller than expected 11% yearly drop in adjusted net profit for the first quarter.Adjusted net profit came in at 1.41 billion euros ($1.60 billion) between January and March, down from 1.58 billion euros in the first quarter of 2024…

Fugro Cuts More Jobs, Shifts Focus to Different Business Segments

Apr 24, 2025

Dutch geological data specialist Fugro it would cut more jobs and shift focus to different business segments after confirming a drop in first-quarter revenue on Thursday, hit by a pause in new U.S. offshore wind projects.The company also cited a highly volatile global market environment…

Vaar Energi Misses Quarterly Profit Forecast

Apr 23, 2025

Oslo-listed oil and gas firm Vaar Energi on Wednesday reported a lower-than-expected operating profit for the first quarter, but said it would maintain its dividend level as it prepares for a sharp rise in output in coming months.Vaar's earnings…

SBM Offshore Banks New $1.1B Loan for Floating Production Solutions

Apr 11, 2025

Dutch FPSO leasing specialist SBM Offshore has signed a $1.1 billion unsecured Revolving Credit Facility (RCF) with a group of 13 international banks.The loan will be used to refinance its existing $1.0 billion RCF which was due to expire in February 2026…

CNOOC Sees 11% Profit Growth in 2024 Driven by Record Oil Production

Mar 27, 2025

China National Offshore Oil Company (CNOOC) has posted an 11.4% net profit growth in 2024, marking a record year of oil and gas production, which has been increased by 7% compared to a year earlier.In 2024, CNOOC recorded a net oil and gas production of 726…

RWE Cuts Back Planned Investments Citing ‘Global Uncertainty’

Mar 20, 2025

RWE, Germany's largest utility, on Thursday said it would cut investments by more than a fifth until the end of the decade, citing global uncertainty around renewable energy returns that has forced major sector players to pare back spending plans…

ADNOC Exploring International Listing of Its Investment Arm XRG

Mar 10, 2025

Abu Dhabi National Oil Company is considering listing its international investment arm XRG on an exchange outside of the United Arab Emirates, three people with knowledge of the matter said, potentially creating one of the largest listed energy companies globally…

Constellation Starts Trading on Euronext Growth Oslo Exchange

Mar 06, 2025

Constellation, an offshore oil and gas drilling services provider in Brazil, has started trading on Euronext Growth Oslo, under the ticker symbol ‘COSH’.Constellation holds about one fifth of Brazil’s country’s offshore drilling market.Constellation…

VAALCO Energy Secures Up to $300M Loan to Grow its Assets

Mar 06, 2025

Africa-focused oil and gas company VAALCO Energy has entered into a new revolving credit facility with an initial commitment of $190 million and the ability to grow to $300 million, which will be used for its investment programs across diversified asset base over the next few years…

Harbour Energy Reports Annual Loss in 2024 Driven by UK Taxes

Mar 06, 2025

Harbour Energy swung to an annual loss in 2024 as the U.K.'s windfall tax for energy companies wiped out most of its pre-tax earnings, the company said on Thursday.North Sea producers have warned that the UK's windfall tax on the industry, first…

Aramco Reports Over 12% Profit Fall in 2024

Mar 04, 2025

Saudi oil giant Aramco said on Tuesday it expects to declare total dividends of $85.4 billion in 2025, nearly 30% less than last year, after reporting a drop in profits as a result of lower sales and higher costs.For the first quarter of 2025…

Subsea7 Marks 53% Profit Rise Ahead of Planned Saipem Merger

Feb 27, 2025

Oslo-listed energy service group Subsea 7, which plans to merge with Italian rival Saipem, said on Thursday its core profit rose 53% last year, in line with its previous guidance.Subsea 7 and Saipem announced on Sunday a plan to create a leading…

Eni Takes 46% Quarterly Profit Hit

Feb 27, 2025

Italian energy group Eni reported a 46% slide in fourth-quarter adjusted net profit on Thursday, hit by lower energy prices and weakness at its refining, biofuel and chemicals divisions.Adjusted net profit for October and December totaled 892 million euros ($934 million)…

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