Finance News

 

Eni Posts Best Results Since 2012 after Strong Q4

Feb 18, 2022

Italian energy group Eni posted its best yearly result since 2012 after profits in the fourth quarter surged to beat expectations, boosted by higher oil and gas prices.Adjusted net profit in the three months to December came in at 2.11 billion euros ($2…

Eni spin-off Vår Energi to be Priced at Bottom of IPO Range

Feb 14, 2022

Norwegian oil and gas firm Vår Energi, a spin-off from Italy's Eni, said its planned stock market listing in Oslo will value the company at 70 billion crowns ($7.8 billion), the low end of the company's intended range.Eni last month announced…

TotalEnergies Swings Back to Profit

Feb 10, 2022

TotalEnergies swung back to profit in 2021 thanks to higher hydrocarbons prices, it said on Thursday, with net income of $16 billion and adjusted net income of $18.1 billion, the highest since record years in 2007 and 2008.The French oil major…

Japan's Inpex to Spend Up to $38B in Growth Areas Over 9 years

Feb 09, 2022

Japan's biggest oil and gas explorer Inpex Corp said on Wednesday it will invest up to 4.4 trillion yen ($38 billion) in growth areas over the next 9 years, 1 trillion of which will be spent on decarbonization areas including hydrogen and ammonia…

Equinor Posts Record Q4 Results

Feb 09, 2022

Norway's Equinor joined European peers in hiking shareholder payouts after posting record pretax profits for the fourth quarter due to a boom in oil and gas prices.Adjusted earnings before tax rose to $15.0 billion in the October-December quarter from $756 million in the same period a year ago…

BP's Profits Hit Their Highest in Eight Years in 2021

Feb 08, 2022

BP's profits hit their highest in eight years in 2021, lifted by soaring gas and oil prices, as the company boosted share repurchases and said it was accelerating plans to cut emissions with increased spending on low carbon energy.BP's rebound to an annual profit of $12…

Aker Solutions Raises 2022 Revenue Outlook

Feb 08, 2022

Norwegian oil services firm Aker Solutions raised its 2022 revenue outlook on Tuesday and said its earnings margin is likely to increase this year while order intake is headed for a record high, sending its shares sharply higher.The company…

Saipem Names Eni's Puliti General Manager

Feb 04, 2022

Italian energy services firm Saipem, which on Monday issued a profit warning that sent its shares down to historic lows, on Friday appointed Eni's Alessandro Puliti as General Manager of the company.Born in Florence in 1963, Puliti has served…

Vår Energi's Oslo IPO May Value It at $9B

Feb 04, 2022

Oil and gas firm Vaar Energi said on Friday its planned stock market listing in Oslo this month could value the Eni spin-off at up to 79 billion Norwegian crowns ($9.1 billion).The touted price tag could make Vaar Norway's third-largest new stock market entrant of all time…

Maire Tecnimont Says Not Part of Any Tie-up with Struggling Saipem

Feb 03, 2022

Italian engineering group Maire Tecnimont said on Thursday 'it is not part of any project of integration with Saipem,' after fears of a potential tie up had pushed its shares down 6%.The idea of merging the two companies first emerged several…

Shell Boosts Dividend, Buybacks as Profits Soar

Feb 03, 2022

Shell boosted its dividend and share repurchases on Thursday after its fourth-quarter profits soared to $6.4 billion on the back of higher oil and gas prices.Shell, which moved its headquarters from The Hague to London last month, said it expected…

Lundin Energy Q4 Beats Forecast as Oil and Gas Prices Soar

Feb 02, 2022

Sweden's Lundin Energy reported on Tuesday a bigger-than-expected rise in operating profit for the final quarter of 2021 amid a surge in the price of crude oil and natural gas.Lundin's earnings before interest and tax (EBIT) for October-December rose to $1…

Saipem Loses Its Footing on Path to Green Energy

Feb 02, 2022

Italy's Saipem risks becoming a casualty of the transition to cleaner energy after a shock profit warning left leading shareholders scrambling to shore up the finances of the energy services company.The Saipem board met on Tuesday to discuss the situation…

Exxon Reports Best Results in Seven Years on High Oil Prices

Feb 01, 2022

Exxon Mobil Corp on Tuesday reported a fourth-quarter profit of $8.87 billion, its largest in seven years, as the top U.S. oil producer benefited from strong energy prices.The company slashed spending after fuel demand cratered two years ago and…

After Warning, Saipem Shares Slide to Lowest Since 1992

Feb 01, 2022

Shares in Italian energy services group Saipem slid to their lowest level in three decades after a shock profit warning left leading shareholders scrambling to find a way to bolster the company's finances.At 1045 GMT the shares were down 4%…

Current News

Liberty Green Creates Offshore Wind Consortium

Liberty Green Creates Offshore Wind Consortium

Equinor Spuds First of Two Offshore Wells in Canada's Flemish Pass

Equinor Spuds First of Two Offshore Wells in Canada's Flemish Pass

Crew Transfer Vessel-maker Strategic Marine Orders 50 Caterpillar Engines Citing Supply Chain Chaos

Crew Transfer Vessel-maker Strategic Marine Orders 50 Caterpillar Engines Citing Supply Chain Chaos

Westwood: Offshore Drilling Rig Utilization Much Higher Than Typically Reported

Westwood: Offshore Drilling Rig Utilization Much Higher Than Typically Reported

Subscribe for OE Digital E‑News

Offshore Engineer Magazine