Finance News

 

Chevron Names Breber CFO

Feb 05, 2019

Supermajor Chevron announced on Monday it has named Pierre Breber vice president and chief financial officer, effective April 1, 2019.Breber replaces Patricia Yarrington who has elected to retire after 38 years with the company.Breber joined Chevron in 1989…

Chevron's Profit Rises

Feb 01, 2019

U.S. oil and natural gas producer Chevron Corp on Friday reported quarterly earnings that topped analysts' estimates on higher prices and production, sending shares higher in premarket trading.Results for the San Ramon, California, company reflected a 12…

ExxonMobil Profit Tops Estimates

Feb 01, 2019

Exxon Mobil Corp on Friday reported a quarterly profit that topped analysts' estimates, pushing it shares up nearly 3 percent in premarket trading as its oil and natural gas output rose slightly on a year-over-year basis.The company's fourth-quarter net income fell to $6 billion…

BP to Expand Emissions Disclosure

Feb 01, 2019

BP has agreed to broaden its disclosure on greenhouse gas emissions to show how it thinks future investments in oil and gas align with U.N.-backed climate goals, it said on Friday.Following talks with a large group of investors, BP also agreed…

ConocoPhillips Beats Profit Estimates

Jan 31, 2019

ConocoPhillips beat quarterly profit estimates on Thursday as the world's largest independent oil producer sold more oil at higher prices, sending its shares up 2 percent before the opening bell.Total production, excluding Libya, rose 94,000 barrels of oil equivalent per day (boe/d) to 1…

Baker Hughes Adjusted Profit Surges 85%

Jan 31, 2019

Baker Hughes, General Electric Co's oilfield services arm, posted an 85 percent jump in adjusted quarterly profit on Thursday, boosted by surging demand for its services.Unlike rivals Schlumberger NV and Halliburton Co, Baker Hughes has less exposure to the North American pressure pumping sector…

Hess Production Tops Estimates

Jan 30, 2019

Oil and gas producer Hess Corp's fourth-quarter production beat Wall Street estimates on Wednesday, driven by higher output from the Bakken shale region and the Gulf of Mexico.Total production for the quarter ended Dec. 31, excluding its Libyan operations…

Mexico Working to Strengthen Pemex Finances

Jan 29, 2019

Mexico's finance ministry said on Monday that it will implement measures to strengthen the finances and boost the production of state oil firm Pemex, specifically by increasing the limit on deductions for costs related to extraction and exploration…

Lundin Buys Stakes in Rolvsnes, Goddo

Jan 28, 2019

Lundin Petroleum, Europe's independent oil and gas exploration and production company with operations focused on Norway, has increased its stake in the major Rolvsnes oil discovery in the Norwegian North Sea, flagging a potential tieback eventually to its operated Edvard Grieg oil field…

UK Decommissioning Tax Relief Estimate in Question

Jan 25, 2019

Britain's public spending watchdog on Friday questioned a government estimate of 24 billion pounds ($31 billion) as the cost of tax relief to decommission oil and gas infrastructure.As one of the oldest and most mature oil basins, Britain's…

Total CFO to Retire this Year

Jan 25, 2019

Total Chief Financial Officer Patrick de La Chevardiere is to retire by the end of this year, a spokesperson for the French oil and gas major said on Friday.De la Chevardiere has been Total CFO for the last 11 years and has been with the firm for 37 years…

Santos Sees Production Surge on Quadrant Acquisition

Jan 24, 2019

Santos Ltd, Australia's No. 2 independent gas producer, on Thursday said it expects 2019 production to rise by up to 32 percent boosted by the acquisition of Quadrant assets.The company expects to churn out 71 million to 78 million barrels of oil equivalent (mmboe) in 2019…

Transocean Raising Cash to Pay for Deepwater Poseidon

Jan 23, 2019

Offshore drilling contractor Transocean announced Wednesday that its wholly owned indirect subsidiary Transocean Poseidon commenced a private offering of $550 million in aggregate principal amount of senior secured notes due 2027.The net proceeds…

Petrobras Receives Unfavorable Tax Ruling

Jan 23, 2019

Petroleo Brasileiro SA (Petrobras) has received an unfavorable ruling from a tax court in a 1.7 billion reais ($445.70 million) dispute involving corporate tax charged in 2012 on overseas companies it controlled, the Brazilian state-run oil company said in a securities filing on Wednesday…

Lukoil Opposes Prolonged Global Oil Output Cuts

Jan 23, 2019

The global oil output cut should not be prolonged, the head of Russia's second biggest oil producer, Lukoil, said on Wednesday, Interfax news agency reported.Lukoil would have to cut its output by 30,000 barrels per day by April under the OPEC and non-OPEC oil deal…

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Offshore Engineer (Sep/Oct 2019)

This issue of Offshore Engineer is dedicated to Big Data and Digitalization

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