Finance News

 

Iberdrola Profits Up with Contribution from OWF

Jul 29, 2019

Spanish public multinational utility company Iberdrola said that its gross operating profit (EBITDA) grew by 12.5% to €4.99 billion, due to the positive performances in the United States, Mexico and Brazil and the contribution of the Wikinger offshore wind farm…

Bourbon Offshore Files for Reorganization

Jul 29, 2019

French offshore services giant Bourbon Corporation's existing liabilities amount to 900 million euros, or just over $1 billion, according to sources. It is is in serious danger of bankruptcy now that a group of creditors has demanded immediate payment of outstanding debt…

Anadarko Beats Profit Estimates

Jul 28, 2019

Anadarko Petroleum Corp, in its last earnings report before shareholders vote on its sale to Occidental Petroleum, on Friday reported a quarterly profit that topped analysts' estimates, as higher production offset lower prices for its oil.It…

Eni Profits Drop 27%

Jul 26, 2019

Italian energy group Eni said its adjusted net profit in the second quarter fell 27% on the year to miss expectations as lower oil and gas prices took their toll.Adjusted net profit in the quarter came in at 0.56 billion euros ($624 million) below an analyst consensus provided by the company of 0…

Nigeria State Oil Firm Withholds Eni Payments

Jul 25, 2019

Nigeria's state oil firm said on Wednesday it had suspended cash call repayments to Eni for three months and did not plan to renew some of the Italian firm's asset licences.The Nigerian National Petroleum Corporation (NNPC) owes billions of dollars to international oil companies…

TechnipFMC: Record Orders, Backlog in Q2

Jul 25, 2019

Franco-American oil services company TechnipFMC received a record volume of orders in the second quarter, pushing its backlog of projects to a peak thanks to new liquefied natural gas projects, it said on Wednesday.The records could signal a…

Total Plans $5 Bln in Asset Sales

Jul 25, 2019

French energy giant Total will sell around $5 billion worth of assets, mostly from its upstream exploration and production business, as it seeks to focus on low breakeven projects that can weather weak oil prices, it said on Thursday.The company…

Equinor Q2 Earnings Lag Forecast

Jul 25, 2019

European oil major Equinor said on Thursday it expects less capital expenditure this year, partly due to further cost savings at its Johan Sverdrup oilfield, after reporting quarterly earnings slightly below forecasts.Adjusted earnings before interest and tax (EBIT) fell to $3…

Husky Energy Beats Profit Estimates

Jul 25, 2019

Husky Energy Inc reported a better-than-expected quarterly profit on Thursday, as higher Canadian crude prices following Alberta government's mandatory output cuts more than offset the company's lower production and weak refining margins.The Calgary-based company said average realized prices rose 7…

Tullow Decides $33 Mln Interim Payout

Jul 25, 2019

The board of British oil producer Tullow will pay an interim dividend of 2.35 cents per share, representing a payout of about $33 million, the company said on Wednesday, in line with plans to disburse at least $100 million a year.The dividend…

Repsol Profit Beats Estimates

Jul 24, 2019

Spanish energy company Repsol trimmed its full-year earnings outlook on Wednesday as lower oil prices and refining margins weighed on profits, but a share buy-back and better than expected results bolstered its stock.Repsol proposed buying and cancelling 5% of its outstanding shares…

Halliburton Profit Beats Estimates

Jul 22, 2019

Halliburton Co on Monday beat analysts' estimates for second-quarter profit as its Completions and Production unit outperformed expectations, pushing its shares up 6.8 percent in early trading.The Houston, Texas-based company is a leading provider of hydraulic fracturing services in North America…

Vaalco Exits Angola

Jul 22, 2019

Oil and as firm Vaalco Energy has paid a US$4.5 million settlement fee to Angola National Agency of Petroleum, Gas, and Biofuels (ANPG), for offshore block termination.The Houston-based independent energy company said that the settlement finalized the termination of Vaalco’s rights…

2019 Project Sanctions to Surpass 2014 Numbers

Jul 19, 2019

The overall dollar amount for offshore project sanctions so far in 2019 has already broken the $50 billion mark and is on pace to surpass 2014's total commitments of $78 billion in the near future, according to analysts Rystad Energy.Driven…

Aker Energy IPO May be in Late 2019 or 2020

Jul 18, 2019

Norwegian investment firm Aker could launch its planned initial public offering (IPO) of Aker Energy in late 2019 or in 2020, depending on when Ghana approves the development plan of its Pecan oilfield, the CEO said.The company, controlled by Norwegian billionaire Kjell Inge Roekke…

Current News

Exxon to Load First Crude from Guyana This Weekend

Exxon to Load First Crude from Guyana This Weekend

Middle East: Offshore Drilling Spend Set to Soar

Middle East: Offshore Drilling Spend Set to Soar

Saipem, Italian Police Sign Cyberattack Prevention Deal

Saipem, Italian Police Sign Cyberattack Prevention Deal

TAQA Taking Over as Brae Field Operator

TAQA Taking Over as Brae Field Operator

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