Finance News


Suriname Seeking Funds for Offshore Exploration

Aug 16, 2019

Suriname's state-owned oil company is planning a bond sale next year to finance offshore oil exploration, its chief executive said on Thursday, as it seeks to capitalize on growing hype over neighboring Guyana's looming oil boom.The company…

MODEC Raises $1bln Bond for FPSO Project

Aug 16, 2019

Japanese FPSO provider MODEC has decided to issue project bonds to international investors to refinance a floating production, storage and offloading  (FPSO) vessel chartered to the TUPI consortium.TUPI consortium is led by Petrobras with the…

Woodside H1 Profit Slumps

Aug 15, 2019

Woodside Petroleum flagged a challenging near-term outlook on Thursday as it grapples to win over its partners to back $34 billion worth of new oil and gas projects amid a souring global environment.Australia's biggest independent oil and gas…

Oxy CFO Pledges to Quickly Pare Acquisition Debt

Aug 13, 2019

Occidental Petroleum Corp expects to quickly reduce the $40 billion in debt it took on with its purchase of Anadarko Petroleum, the company's finance chief said on Monday.Cedric Burgher, in his first public remarks since the $38 billion acquisition closed last week…

New Money, Finds & Field Starts

Aug 13, 2019

Norway’s government will earn around NOK 265 billion ($30 billion) taxing and taking up stakes in its oil and gas fields in 2019, and Norwegian production is on the rise. In contrast, Britain in 2019 will earn about GBP 1.1 billion ($1.34 billion)…

Petrobras Prepays Debt with Pension Fund

Aug 13, 2019

Brazil's state-run oil company Petroleo Brasileiro SA said on Monday it had prepaid a 2.7 billion reais ($678 million) debt with its employees' pension fund Petros that was due in 2028, according to a securities filing.Petrobras, as the company is known…

Tullow Shares Soar on Guyana Find

Aug 12, 2019

Tullow Oil PLC said on Monday it has made a large oil discovery in Guyana, sending its share price soaring on expectations that it will develop a productive field in the South American country's nascent oil industry.Shares London-based Tullow…

Anadarko Shareholders Go for Cash in Oxy Buyout

Aug 08, 2019

Shareholders of Anadarko Petroleum Corp on Thursday voted overwhelmingly to sell the company for $38 billion to rival Occidental Petroleum Corp, ending a short-lived contest that pitted two of the most storied names in the oil industry against one another…

Exxon Looks to Spur Norwegian Asset Sales

Aug 08, 2019

U.S. oil major Exxon Mobil has hired investment bank Jefferies to sell the stakes it holds in oil and gas fields off the Norwegian coast, which could fetch up to $4 billion, banking sources said.Exxon said in June that it was looking to test market interest for its Norwegian upstream portfolio…

Petrobras Posts Highest-ever Quarterly Profit

Aug 02, 2019

Brazilian state-run oil firm Petroleo Brasileiro SA posted its highest ever quarterly profit on Thursday and handily beat analysts' estimates, thanks in large part to billions of reais in asset sales.In a securities filing, Petrobras, as the firm is commonly known…

Tower’s Financial Reprieve in Cameroon

Aug 01, 2019

London-based, independent oil and gas company Tower Resources Plc has sighed with relief after the repayment of its $750,000 short term loan facility was extended to August 31 this year to enable the company finalize arrangements for the drilling…

Oxy Q2 Earnings Dip

Jul 31, 2019

Occidental Petroleum Corp , which is battling activist investor Carl Icahn over its $38 billion purchase of Anadarko Petroleum, reported a 14% drop in quarterly profit on Wednesday, as costs related to the deal and weaker chemical earnings hit its bottom line…

Apache Corp Quarterly Profit Falls

Jul 31, 2019

U.S. oil and gas producer Apache Corp reported a 78.6% fall in second-quarter adjusted profit on Wednesday, hit by lower prices of oil, gas and natural gas liquids (NGL) and higher operating costs.The company reported a 43.6% fall in natural…

Hess Corp Posts Smaller Quarterly Loss

Jul 31, 2019

Hess Corp reported a smaller-than-expected quarterly loss on Wednesday, helped by lower exploration costs and a surge in output in its Bakken shale and Gulf of Mexico assets that also prompted the company to raise its 2019 production forecast…

Current News

White Rose to Resume Full Production

Hunting Acquires RTI Energy Systems

PGNiG to Drill Shrek Wildcat

ExxonMobil Planning Exit from UK North Sea

Safe Boreas Extended at Mariner

Kosmos Hires Maersk Voyager

Suriname Seeking Funds for Offshore Exploration

Norway's July Oil Output Beats Forecast

Prolonging Wellhead Fatigue Life

Woodside Begins Greater Enfield Project

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