The energy shipping company PAO Sovcomflot (SCF Group) has managed to increase its revenue base and achieved a profit of USD 11.9 million against a USD 106.2 million loss in 2017.The annual results reflected a strong contribution from the industrial…
As the world's top oil companies diversify and expand their presence in the petrochemicals and renewables segments, Petrobras is craving to be a less verticalized company.As partner to the Brazilian government in one of the industry's most coveted…
Denmark's Orsted is looking at ways to avoid potential tariffs on imports of components for its multi-billion pound British offshore wind farms in the event of a disorderly Brexit, the company's UK chief told Reuters.With only 16 days before Britain is due to leave the European Union…
Brazilian oil company Petroleo Brasileiro SA has priced global notes worth $3 billion due in 2029 and in 2049 as it seeks to repurchase shorter-term debt obligations, according to a securities filing late Tuesday.Petrobras, as the state-run company is known…
U.S. President Donald Trump's proposed fiscal year (FY) 2020 budget submitted to Congress on Monday includes $200.5 million for the Bureau of Safety and Environmental Enforcement (BSEE) and $193.4 million for the Bureau of Ocean Energy Management (BOEM)…
Brazil's state-controlled oil company Petróleo Brasileiro SA, or Petrobras, announced plans to cut $8.1 billion from its operational costs in the period from 2019 through 2023, according to a securities filing released on Friday.Petrobras said…
Norway's trillion-dollar sovereign wealth fund, the world's biggest, will sell its stakes in oil and gas explorers and producers but still invest in energy firms that have refineries and other downstream activities, according to a government plan…
Malaysian state oil firm Petronas said on Friday its fourth-quarter profit slid 21 percent as costs piled up, and warned it will have to chart a way through a volatile, challenging 2019 citing market uncertainties and geopolitical risks.Petronas…
Oil prices edged higher on Wednesday, supported by OPEC-led supply cuts and U.S. sanctions against exporters Venezuela and Iran, but gains were capped by falling stock markets and renewed concerns over demand growth.Brent crude futures gained 26 cents…
Premier Oil swung to a net profit of $133.4 million in 2018 from a net loss of more than $250 million in the previous year, the British firm said on Thursday, adding it aimed to reduce its debt pile to potentially less than $2 billion by year-end…
Petroleum production costs on the Norwegian continental shelf rose in 2018 after falling for three consecutive years, state-owned oil firm Petoro said on Thursday.Cost cuts were high on oil firms' agenda following a sharp fall in crude prices in 2014…
Exxon Mobil Corp plans to boost capital spending for several years, CEO Darren Woods said on Wednesday, and the largest U.S. oil company's shares fell after he laid out a strategy to 'lean in' while the rest of the industry cuts back.Exxon shares fell more than 1…
Based on the latest forecasts, engery-sector specialists Nautilus Associates claim more than £59 billion ($77 billion) could be invested in new offshore energy and infrastructure projects between now and 2040 in the Lowestoft and Great Yarmouth Enterprise Zones…
Ratings agency Standard & Poor's on Monday slashed the stand-alone credit profile of Petroleos Mexicanos (Pemex) to 'B-' from 'BB-', piling pressure on the Mexican government to tighten up the debt-laden state oil firm's finances.S&P cut Pemex's outlook to negative from stable…
Russia's No.2 oil producer Lukoil's fourth-quarter net profit rose to 159 billion roubles ($2.42 billion), up from 120.5 billion roubles in the same period a year earlier, the company said on Monday.Fourth-quarter revenue stood at 2 trillion roubles…
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