Finance News


Chevron's $11.2B Q3 Profit Soars Past Estimates

Oct 28, 2022

Chevron Corp  on Friday reported its second-highest ever quarterly profit, blasting past analysts' estimates, driven by soaring global demand for its oil and gas and rising production from its U.S. oilfields.The surge comes as oil companies…

Baker Hughes Increases Dividend, Authorizes Share Buyback

Oct 28, 2022

Oilfield firm Baker Hughes on Thursday said it would increase its quarterly dividend by 5.5% to 19 cents per share and that its board had authorized an additional $2 billion in share repurchases. The increases underscore an ongoing focus by…

Boosted by Gas Business Italy's Eni's Beats Expectations

Oct 28, 2022

Italian energy group Eni said profits in the third quarter beat expectations thanks to a strong performance from its Global Gas and LNG portfolio division (GGP). Adjusted net profit in the period came in at 3.73 billion euros ($3.72 billion)…

Equinor Reports Record Profit Boosted by Soaring Gas Prices

Oct 28, 2022

Equinor on Friday posted forecast-beating record profits for the third quarter driven by all-time-high European gas prices amid the Ukraine war, and said it would raise its dividend payment while reducing full-year output guidance.The oil and…

China CNOOC Q3 Profit Climbs 89% to $5.1B as Energy Prices Surge

Oct 27, 2022

CNOOC Ltd's third-quarter net profit soared by 89% from a year earlier to 36.9 billion yuan ($5.11 billion), driven by stronger oil and gas prices, the Chinese offshore oil and gas major said on Thursday. Third-quarter revenue rose 54% on the year to 89…

TotalEnergies Clocks $9.9B Profit in Q3

Oct 27, 2022

TotalEnergies posted a sharp jump in its third-quarter net profit compared with a year ago, as it joined other energy giants in its sector to have benefited from higher oil and gas prices, although it also booked a new Russia-related impairment…

Shell Posts $9.5B Profit, Plans to Boost Dividend

Oct 27, 2022

Shell Thursday posted a third-quarter profit of $9.45 billion, easing from the previous quarter's record high due to weaker refining and gas trading, as it announced plans to sharply boost its dividend by year end when its CEO departs.Shell also extended its share repurchasing program…

Seadrill Approved to Relist on the New York Stock Exchange

Oct 11, 2022

Offshore drilling contractor Seadrill announced on Tuesday that it has received approval to relist its common shares on the New York Stock Exchange under the ticker symbol 'SDRL'.The company voluntarily delisted from the NYSE in June 2020, several…

Harbour Energy Ups Buybacks to $300M after Free Cash Flow Jump

Aug 25, 2022

Harbour Energy, the UK North Sea's biggest oil and gas producer, increased a share buyback program by 50% to $300 million on Thursday as it reported first-half free cash flow of $1.4 billion.Harbour, which is set to produce just over 200,000…

Norway's Oil and Gas Firms Raise Spending Forecasts

Aug 18, 2022

Norway's oil and gas firms have raised their investment forecasts for 2022 and 2023 as they plan to explore more and develop new projects, a national statistics office (SSB) survey showed on Thursday.The country's biggest business sector now expects to invest 172…

'Pawn' in Energy Stand-off, Germany's Uniper Suffers $12.5B Loss

Aug 17, 2022

Uniper, the highest-profile corporate victim of Europe's energy crisis so far, reported a 12.3 billion euro loss ($12.5 billion) due to Russian gas supply cuts, saying it had become a 'pawn' in the energy standoff between the European Union and Moscow…

Sembcorp Marine Cuts Losses as Easing COVID Curbs Aid Project Deliveries

Aug 11, 2022

Singapore's Sembcorp Marine Ltd (Sembmarine) said on Friday its half-year loss narrowed 78% from a year earlier, as the oil rig builder finished delayed projects after pandemic curbs were eased while also benefiting from cost management.The…

BW Energy Signs $300M Reserve Based Loan to Fund Work Offshore Gabon

Aug 09, 2022

Oil and gas company BW Energy has signed an up to $300 million international Reserve Based Lending (RBL) facility, to finance further development work in a block offshore Gabon.The facility has an initial commitment of $200 million which can be expanded up to an additional $100 million…

Japan's Inpex Increases Full-year Profit Guidance on Stronger Oil, Gas Prices

Aug 08, 2022

Japan's biggest oil and gas explorer Inpex Corp on Monday lifted its full-year net profit forecast by 17% as strong prices of oil and natural gas boosted its first-half earnings while a weaker yen also lent support.A rapid recovery in demand…

Conoco Sweetens Shareholder Returns by $5 Billion as Profit Jumps

Aug 04, 2022

ConocoPhillips on Thursday raised its shareholder payout target by 50% after the largest U.S. independent oil producer beat Wall Street's earnings estimates on surging energy prices.Oil and gas prices have skyrocketed with Western sanctions…

Current News

HSM to Build Offshore Wind-powered Gas Platform for One-Dyas

HSM to Build Offshore Wind-powered Gas Platform for One-Dyas

Norway Delays 26th Oil Licensing Round

Norway Delays 26th Oil Licensing Round

Exail's DriX USV Gets Lloyd's Register Certification

Exail's DriX USV Gets Lloyd's Register Certification

UTEC Showcases New Unmanned Catamaran for Offshore Wind Surveys

UTEC Showcases New Unmanned Catamaran for Offshore Wind Surveys

Subscribe for OE Digital E‑News

Offshore Engineer Magazine