Finance News

 

UK Considering Big Increase in Energy Windfall Tax, Sources Say

Nov 14, 2022

British finance minister Jeremy Hunt is considering a big increase in a windfall tax on oil and gas firms and extending it to power generation firms as he tries to find ways to repair the country's public finances, sources said on Saturday.The…

Colombia's Ecopetrol Q3 Net Profit Doubles as Oil Demand, Prices Rise

Nov 09, 2022

Colombian state oil company Ecopetrol on Tuesday reported its third-quarter net profit more than doubled to 9.51 trillion pesos ($1.90 billion), rising 150% from a year earlier, as production returned to levels not seen since before the coronavirus pandemic…

Ithaca Energy Shares Dip after UK's Largest IPO This Year

Nov 09, 2022

Ithaca Energy shares dipped on their London debut on Wednesday after the North Sea oil and gas producer defied volatile markets to deliver Britain's largest initial public offering (IPO) this year, and Europe's fifth biggest. The shares opened…

Japan's Inpex Lifts Profit Forecast on Higher Energy Prices

Nov 08, 2022

Japan's biggest oil and gas explorer, Inpex Corp, lifted its full-year profit forecast by 14% to a record 400 billion yen ($2.7 billion) thanks to higher-than-expected oil and gas prices and the yen's plunge against the U.S. dollar. The company…

Arabian Drilling Co Shares Up 18% on Market Debut

Nov 07, 2022

Shares of Arabian Drilling Company , a Saudi oilfield services firm, were up 18% above its listing price on its market debut in Riyadh on Monday, in a sign that investors still have appetite for local flotations despite a gloomy outlook for the world economy…

Ithaca Energy IPO Set to Price at Lower End of Range - Bookrunner

Nov 07, 2022

A planned initial public offering of North Sea oil and gas producer Ithaca Energy IPO is set to price at the lower end of the previously guided range, bookrunners on the deal said on Monday.The revised price guidance is for between 250 and 270 pence per share…

Harbour Energy Expects $400M in UK Windfall Tax This Year

Nov 03, 2022

Harbour Energy on Thursday forecast liabilities from the UK's windfall tax on energy companies to be about $400 million this year, and urged the government to 'carefully consider' the consequences of any increase or extension to the scheme. The…

BP Joins Rivals With Bumper $8.2B Profit

Nov 01, 2022

LONDON, Nov 1 (Reuters) - BP more than doubled its third-quarter profit from a year earlier to $8.15 billion, lifted by strong natural gas trading, as it expanded its share buybacks by $2.5 billion amid rising calls to increase taxes on the energy sector…

Global Oil Giants Rake in Massive Profits in Third Quarter

Oct 28, 2022

Global oil-and-gas giants including Exxon Mobil, Chevron, and Equinor, posted huge profits in the third quarter, benefiting from surging energy costs that have boosted inflation around the world and hit consumers hard. Oil companies booked billions of dollars in profits as prices for crude…

Exxon's Record-breaking Q3 Profit Nearly Matches Apple's

Oct 28, 2022

Exxon Mobil Corp on Friday smashed expectations as soaring energy prices fuelled a record-breaking quarterly profit, nearly matching that of tech giant Apple. Its $19.66 billion third-quarter net profit far exceeded recently raised Wall Street…

Chevron's $11.2B Q3 Profit Soars Past Estimates

Oct 28, 2022

Chevron Corp  on Friday reported its second-highest ever quarterly profit, blasting past analysts' estimates, driven by soaring global demand for its oil and gas and rising production from its U.S. oilfields.The surge comes as oil companies…

Baker Hughes Increases Dividend, Authorizes Share Buyback

Oct 28, 2022

Oilfield firm Baker Hughes on Thursday said it would increase its quarterly dividend by 5.5% to 19 cents per share and that its board had authorized an additional $2 billion in share repurchases. The increases underscore an ongoing focus by…

Boosted by Gas Business Italy's Eni's Beats Expectations

Oct 28, 2022

Italian energy group Eni said profits in the third quarter beat expectations thanks to a strong performance from its Global Gas and LNG portfolio division (GGP). Adjusted net profit in the period came in at 3.73 billion euros ($3.72 billion)…

Equinor Reports Record Profit Boosted by Soaring Gas Prices

Oct 28, 2022

Equinor on Friday posted forecast-beating record profits for the third quarter driven by all-time-high European gas prices amid the Ukraine war, and said it would raise its dividend payment while reducing full-year output guidance.The oil and…

China CNOOC Q3 Profit Climbs 89% to $5.1B as Energy Prices Surge

Oct 27, 2022

CNOOC Ltd's third-quarter net profit soared by 89% from a year earlier to 36.9 billion yuan ($5.11 billion), driven by stronger oil and gas prices, the Chinese offshore oil and gas major said on Thursday. Third-quarter revenue rose 54% on the year to 89…

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