Finance News

 

Chevron Posts Q3 Profit

Oct 30, 2020

Chevron on Friday reported an adjusted third-quarter profit as oil prices recovered from spring lows and spending cuts benefited operating results.Chevron and its peers have slashed spending budgets this year on plummeting demand and crude oil prices that remain about 40% below where they began the year. Royal Dutch Shell Plc and BP Plc also posted higher-than-expected quarterly results after deep expense cuts this year…

Total Keeps Dividend But Cuts Investment Target

Oct 30, 2020

Total trimmed its 2020 investment target on Friday after a sharp drop in third-quarter net profit, though the French oil and gas producer maintained its dividend.The company cut its investment target to $13 billion from $14 billion and said it was keeping a lid on operating costs too…

Aker BP Posts Higher Than Expected Operating Profit. Cuts Capex Guidance

Oct 29, 2020

Norwegian independent oil firm Aker BP reported on Thursday higher-than-expected operating profits for the third quarter and slightly cut its expected spending for the full year.Operating profit rose to $242 million from $196 million in the same quarter a year ago…

Spanish Oil Firm Repsol Cuts Capex

Oct 29, 2020

Spanish oil and gas group Repsol returned to profit in the third quarter after a deep loss in the second, and suggested it could spin off some of its growing renewables business to maximize investment returns.Repsol, however, said it would cut…

Equinor Takes $2.9B Hit in Asset Write-offs

Oct 29, 2020

Norway's Equinor wrote off $2.93 billion from the value of its assets after cutting its long-term oil and gas price forecasts on Thursday, betting the pandemic and a shift away from fossil fuels will have a lasting impact on markets.The biggest hit came from a $1…

Exxon Mobil to Keep Dividend Flat for First Time Since 1982

Oct 29, 2020

Exxon Mobil Corp on Wednesday kept its fourth-quarter dividend flat at 87 cents a share, signaling 2020 will be the first year since 1982 that the U.S. oil producer has not raised its shareholder payout.The largest U.S. oil producer by volume…

Aker Solutions EBITDA Boosted by One-Off Gain from CCS and Offshore Wind Spinoffs

Oct 28, 2020

Norwegian offshore engineering and equipment provider Aker Solutions reported a drop in revenue in the third quarter of 2020, but its net profit rose. Aker Solutions' result received a one-off boost from the listing of carbon capture and offshore wind spinoffs…

Eni Posts 3Q Loss. Output Drops but Full Year Forecast Unchanged

Oct 28, 2020

Italian energy group Eni's balance sheet remains strong, it said on Wednesday after swinging to a third-quarter net loss as the coronavirus crisis took its toll.The company said it recorded an adjusted net loss of 0.15 billion euros ($177 million)…

Hess Cuts 2020 Output Forecast Slightly Due to Hurricanes, Lower SE Asia Production

Oct 28, 2020

U.S. oil and gas producer Hess Corp reported a bigger-than-expected quarterly loss on Wednesday and slightly lowered its full year production forecast, as its operations were hit by hurricanes in the Gulf of Mexico and lower production in South East Asia…

Ørsted's 3Q Results Beat Expectations

Oct 28, 2020

Danish energy group Ørsted beat third-quarter profit expectations on Wednesday but said offshore wind projects in the United States faced “significant” delays.The world’s largest offshore wind farm developer kept its full-year guidance for earnings before interest…

Saipem Expects 'Brighter' Year End After Q3 Loss

Oct 28, 2020

Italian energy services group Saipem expects no major delay to projects and predicted brisker business in the last part of the year after swinging to a loss in the third quarter.'We are not out of the woods yet ... (but) the picture starts to get brighter…

BP Swings Back to Small 3Q Profit

Oct 27, 2020

BP swung back to a small profit in the third quarter but warned the pace of recovery from the pandemic remains uncertain and continued to weigh on fuel demand and refining profits.The London-based company said that while fuel demand in Asia…

Third Straight Quarterly Loss for Baker Hughes

Oct 21, 2020

Baker Hughes Co reported a third straight quarterly loss on Wednesday, as a coronavirus-induced slump in commodity prices continued to hurt demand for equipment and services.Producers have been drilling fewer wells following a collapse in crude…

Halliburton Posts Fourth Straight Quarterly Loss

Oct 19, 2020

Halliburton Co posted its fourth-straight quarterly loss on Monday, as the world's second-largest oilfield services provider struggles with a plunge in demand and lower oil prices.Even though oil prices have recouped some of their losses from the historic lows of March and April…

NYSE Warns Transocean of Potential Delisting Risk

Oct 19, 2020

Offshore drilling contractor Transocean has received a listing warning from the New York Stock Exchange after its average closing share price fell below the minimum of $1.00 per share during a consecutive 30 trading-day period. From the date of the formal non-compliance notice…

Current News

Coronavirus, Consolidation Taking Toll On Energy Jobs

Coronavirus, Consolidation Taking Toll On Energy Jobs

Total Keeps Dividend But Cuts Investment Target

Total Keeps Dividend But Cuts Investment Target

Norwegian Businesses See Rise in Wind Industry Orders

Norwegian Businesses See Rise in Wind Industry Orders

Baksaas Appointed DNV GL’s Chair of the Board

Baksaas Appointed DNV GL’s Chair of the Board

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