Saipem has promoted Alessandro Puliti to the post of chief executive to replace Francesco Caio who has resigned with immediate effect, the Italian energy services company said on Wednesday.Puliti, will also continue in his current role as general manager of the group, Saipem added.Before joining Saipem in February this year, Puliti spent three decades first at Agip and then its parent energy giant Eni ENI…
Activist shareholders opposed Australian oil and gas explorer Santos' growth strategy on Thursday, saying executive incentives are driving up investments in upstream growth projects, potentially raising carbon emissions and reducing shareholder value…
Breakwater Energy, a subsidiary of EIG, an institutional investor in the global energy and infrastructure sectors, has acquired a 25% interest in Repsol Upstream for a total consideration of around $4.8 billion, including debt, with Repsol holding the remaining 75%…
Top oilfield services firm SLB will raise its quarterly dividend next year by 43% and resume a share buyback program, executives said on Thursday, offering an upbeat view of energy markets. Although annual revenues have fallen every year since 2019…
Schlumberger NV SLB.N on Friday raised its annual revenue forecast after beating analysts' second-quarter earnings expectations, buoyed by higher demand for its oilfield services and equipment.The company has benefited from a boost in activity driven by stronger oil and gas prices…
U.S. oil major ExxonMobil has agreed to sell its Romanian upstream affiliate, ExxonMobil Exploration and Production Romania, to Romgaz for more than $1 billion, subject to Romanian government approvals.The deal includes all shares in ExxonMobil…
Higher tax payments and foreign exchange losses pushed Mexico's Petroleos Mexicanos back into the red in the third quarter, even as crude production recovered somewhat, the state oil company said on Thursday.Pemex lost 77.2 billion pesos ($3…
Portuguese oil company Galp Energia on Monday raised its earnings outlook for 2021 after higher oil prices and positive refining margins buoyed profitability in the third quarter.Galp said its adjusted core earnings or EBITDA in this year as a whole would exceed 2…
British consulting and engineering group Wood Plc forecast 2021 revenue that came in below market expectations on Tuesday as renewed concerns about global growth and oil demand clouded the outlook for its largest division serving energy customers…
The Caspian region – home to 6 million barrels of oil equivalent per day of liquids and gas production – has been near the forefront of the global energy sector since the 19th century. It is core to most of the majors and has a resource base that should be primed for longevity…
Spending in the upstream oil and gas sector is expected to gradually begin to rise from 2022, however, it will not reach the pre-crisis period any time soon as the toll of the Covid-19 pandemic on upstream investments in the first two years of the downturn is estimated at a whopping $285 billion…
Royal Dutch Shell's profits leapt to $3.23 billion in the first three months of the year and the energy company raised its dividend as planned but warned that the outlook remained uncertain due to the coronavirus pandemic.Shell's adjusted earnings were above an average analyst forecast of $3…
Indonesia's first-quarter crude oil and natural gas liftings missed their targets because of technical issues at wells and postponements at a liquefied natural gas (LNG) project, data from upstream oil and gas regulator SKK Migas showed on Monday…
Oil major Shell is exploring options to sell its non-operated interests in the Amended 2011 Baram Delta EOR Production Sharing Contract (PSC) and the SK 307 PSC, offshore Malaysia.The assets located offshore Sarawak, Malaysia, are operated by…
Royal Dutch Shell on Monday said it will write down the value of oil and gas assets by $3.5 billion to $4.5 billion following a string of impairments this year as it adjusts to a weaker outlook.In an update ahead of its fourth-quarter results on February 4…
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