Portugal's Galp Energia on Monday reported a 13% slump in adjusted first-quarter net profit, hit by a decline in oil production owing to constraints caused by the COVID-19 pandemic and slower refining activity. Galp suspended output at its largest refinery in Sines and its smallest…
The problem for crude oil market bulls is that every time they think they have built up steam, something comes along to knock the momentum off track.The coronavirus surge in India and the imposition of states of emergency in populated parts of Japan…
China's national offshore oil and gas producer CNOOC Ltd reported on Thursday its first-quarter revenue surged 21% on year on recovering oil and gas prices and higher sales.Revenue was 48.34 billion yuan ($7.45 billion) over the January-March period…
Oilfield equipment and services provider Baker Hughes Co top boss on Wednesday reiterated he is 'cautiously optimistic' about oil demand recovering this year from the coronavirus blow, echoing a view he shared on the company's last earnings call…
Halliburton Co on Wednesday reported a 6% rise in first-quarter adjusted profit from the previous three months, as a rebound in oil prices from pandemic lows fueled drilling activity and demand for oilfield services.Higher oil prices during the quarter boosted drilling…
Norway's $1.3 trillion wealth fund, the world's largest, should reduce the size of its global company reference index by between 25% and 30% to better follow up companies, primarily by removing small-cap stocks, the finance ministry proposed on Friday…
The top executive for oilfield services firm Halliburton Co earned roughly $10 million more in 2020 than the prior year, despite company pledges to reduce executive pay as the coronavirus pandemic crushed the oil industry, according to a regulatory document filed on Tuesday…
BP expects to reach its $35 billion net debt target in the first quarter of 2021, the energy group said on Tuesday, following earlier-than-expected proceeds from disposals and a 'very strong' quarter.The company, which had a debt pile of $39 billion at the end of 2020…
Offshore drilling rig contractor Seadrill has asked creditors to write off more than 85% of its debts in exchange for a 99% stake in the reorganized company, a court filing showed.The Oslo-listed firm controlled by Norwegian-born billionaire…
Gulf Marine Services, a UAE-based provider of self-propelled, self-elevating support vessels serving the offshore oil, gas, and renewables industries, has struck a deal with banks to reduce the interest rate on its loan.'Under the revised agreement…
Malaysia's largest oil and gas services provider Sapura Energy on Tuesday said it has refinanced 10.3 billion ringgit ($2.48 billion) of its debt for a period of seven years.The company said the refinancing includes an $820 million term loan facility to be offered by banks in U…
The European Investment Bank (EIB) has granted a €350 million (~$412 million) credit line to a consortium building a wind farm off the coast of Courseulles-sur-Mer in France. This financing, granted to the consortium made up of EDF Renouvelables…
BP Chief Executive Bernard Looney's remuneration was 1.735 million pounds ($2.4 million) in 2020 after it scrapped all bonuses during his first year in office due to the pandemic, the energy group said in its annual report.Looney's pay included 1…
Saudi Arabian state oil giant Aramco is betting on an Asian-led rebound in energy demand this year after it reported a steep slide in net profit for 2020 on Sunday and scaled back its spending plans.The COVID-19 pandemic took a heavy toll on the company and its global peers in 2020…
Mexico's government will absorb regular debt payments this year for Petroleos Mexicanos (Pemex), as President Andres Manuel Lopez Obrador intensifies his efforts to prop up the heavily-indebted state-run oil company.Those so-called debt amortization payments will total over $6 billion in 2021…
Subscribe
