Finance News

Bolsonaro Hints at Change in Petrobras' Profit Distribution

May 16, 2022

Brazilian President Jair Bolsonaro suggested on Monday he may tinker with state-run company Petrobras' profit policy, cutting the percentage distributed to shareholders, as he looks to curb fuel price hikes ahead of the country's October elections…

Saudi Aramco Sees 1Q Net Profit Soar 82%

May 16, 2022

Saudi state-owned oil producer Saudi Aramco on Sunday reported an almost 82% rise in first-quarter net profit, broadly in line with analyst forecasts, helped by strong oil prices.Aramco, which is at par with Apple Inc as the world's most valuable company…

Japan's Inpex Boosts Annual Profit Outlook on Soaring Oil Prices. Shares Abadi Plans

May 11, 2022

Japan's biggest oil and gas explorer Inpex Corp raised its net profit forecast for 2022 by 20% to a record 300 billion yen ($2.3 billion) thanks to higher-than-expected oil prices and a lower yen against the U.S. dollar.Its annual net profit…

Saipem Eyes 2B Euro Capital Hike in Summer - CEO to Paper

May 10, 2022

Italian energy services group Saipem is working to bring forward a planned 2 billion euro ($2.12 billion) capital increase and carry it out in the summer, CEO Francesco Caio told Il Sole 24 Ore in an interview published on Tuesday.The capital…

Brazil's Petrobras Reports $9B Profit as Bolsonaro Rails Against Company

May 06, 2022

Brazil's Petrobras posted a first-quarter net income that beat forecasts on Thursday, just minutes after Brazilian President Jair Bolsonaro railed against the state-run oil company's profitability, saying its executives had no sympathy for ordinary people…

Equinor Posts Record 1Q Pretax Profit. Sale of Gas Now Its Most Profitable Business

May 04, 2022

Equinor reported record earnings on Wednesday, as the war in Ukraine triggered an energy supply crunch that sent gas prices soaring to all-time highs.The state-controlled Norwegian company has emerged as a big winner in Europe's energy crisis…

BP's Profit Soars to Highest in Over Decade

May 03, 2022

BP boosted its share buyback program after net profit soared to its highest in more than a decade on strong oil and gas trading results, as the energy company took a $24 billion charge after exiting its operations in Russia.Soaring oil and gas…

Exxon Takes a Hit from Russia, Triples Buybacks over Higher Oil Prices

Apr 29, 2022

Exxon Mobil Corp doubled its first-quarter per-share profit, it said on Friday, but the results fell short of Wall Street estimates, even excluding a $3.4 billion writedown from its withdrawal from Russia.The top U.S. oil producer tripled its buyback program…

Chevron 1Q Income Nearly Quadruples as Oil Prices Surge

Apr 29, 2022

Chevron Corp's first-quarter profit nearly quadrupled from the same period a year ago, easily surpassing Wall Street's forecasts as oil and gas prices surged following Russia's invasion of Ukraine.The second-largest U.S. oil producer on Friday posted adjusted earnings of $6…

CNOOC Q1 Net Profit Doubles, Domestic Oil and Gas Output Jumps

Apr 28, 2022

China's top offshore oil and gas producer CNOOC Ltd saw its net income more than double during the first quarter of 2022 from a year ago, on the back of a surge of global oil prices and an increase in domestic oil and gas production.The listed…

Hess' Profit Jumps 65% on Surging Crude Prices

Apr 27, 2022

U.S. oil and gas producer Hess Corp reported a 65% rise in first-quarter profit on Wednesday, helped by a jump in energy prices due to Russia's invasion of Ukraine.Oil prices hit multi-year records during the quarter as the conflict in Ukraine led to sanctions against Russia…

Oslo Stock Exchange to Delist Seadrill Limited Shares

Apr 25, 2022

The Oslo Stock Exchange on Monday passed a resolution to delist the offshore drilling contractor Seadrill Limited.'The Oslo Stock Exchange considers that the shares of Seadrill Limited are no longer suitable for listing on the Oslo Stock Exchange…

CNOOC Soars in Shanghai Debut, Defies Weak Market

Apr 21, 2022

China's CNOOC Ltd saw its stock surge as much as 44% in its Shanghai debut on Thursday in defiance of overall market weakness, as investors sought safety in the oil giant amid lofty energy prices and quickening inflation.The stock started trade 20% higher than its offering price…

Baker Hughes Posts Higher Q1 Profit, but Misses Wall Street Estimates

Apr 20, 2022

U.S. oilfield services and equipment firm Baker Hughes Co BKR.O on Wednesday reported a higher quarterly profit from a year earlier, but missed Wall Street estimates after facing a 'volatile market' in early 2022 that prompted mixed results across its reporting units…

Current News

Woodside Sees Slim Risk of Big Share Selloff by BHP Investors

Bolsonaro Hints at Change in Petrobras' Profit Distribution

Incident with Gas Cooler Cracks on Equinor's Troll C Platform Could've Caused a Major Gas Leak, PSA Says

Weatherford CFO Jennings to Leave in July

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