Finance News

 

Chevron Posts Its Biggest Quarterly Earnings

Jul 29, 2022

Chevron Corp increased its share buyback guidance on Friday after posting its biggest quarterly earnings ever, built on strong fuel margins and high prices for natural gas and oil.Chevron's move on potentially boosting share repurchases follows those of other oil majors…

Mexico's Pemex Expects Rare Annual Profit - CEO

Jul 29, 2022

Mexican state oil company Pemex expects to post a rare annual profit this year, with two consecutive quarters already in the black and a boost to crude output from new fields, Chief Executive Octavio Romero told Reuters.If achieved, it will be Pemex's first annual profit in more than a decade…

Petrobras Opens Dividend Gusher

Jul 28, 2022

Petrobras has approved a record dividend payout of 87.8 billion reais ($17 billion), Brazil's state-run oil company said on Thursday, a move that will boost the government's coffers heading into a tense election.In a securities filing, Petroleo Brasileiro SA…

Cenovus Energy Profit Jumps 11-fold

Jul 28, 2022

Cenovus Energy Inc on Thursday reported a near 11-fold surge in second-quarter profit, helped by its purchase of rival Husky and rising energy prices after the Russian invasion of Ukraine.Oil prices have scaled multi-year records this year as…

Financing and Bankability of Offshore Wind Vessels

Jul 27, 2022

In our first article we highlighted some of the key contractual considerations facing shipowners looking to construct and charter offshore wind vessels. In this article we explore some of the considerations concerning the financing and bankability of offshore wind vessels…

Hess Corp Profit Rises Nine Times as Crude Prices Surge

Jul 27, 2022

U.S. oil and gas producer Hess Corp reported a nine-fold increase in second-quarter adjusted profit on Wednesday, helped by a surge in energy prices following Russia's invasion of Ukraine.Oil prices have scaled multi-year highs this year as…

Saipem Confirms Targets After Return to Core Profit

Jul 27, 2022

Italy's Saipem on Wednesday confirmed its 2022 guidance and the targets in its business plan after the energy services group reported a first-half adjusted core profit of 321 million euros ($325 million).Investors this month agreed to fund only 1…

Galp Profit Leaps 90%

Jul 25, 2022

Portuguese oil and gas company Galp Energia reported a 90% jump in adjusted second-quarter profit on Monday, citing soaring oil prices and a sharp increase in its refining margin.Rapid recovery in demand after pandemic lockdowns and a surge…

Petronas to Contribute $13.25B to Malaysian Gov't Coffers in 2022

Jul 22, 2022

Malaysia's state energy firm Petronas is forecast to contribute to government coffers as much as 59 billion ringgit ($13.25 billion) this year, a cabinet minister said in a statement to parliament published Friday.Petronas contributions are a significant source of revenue for the federal government…

Aker BP to Raise Dividend in H2 after Upbeat Q2 Results

Jul 20, 2022

Norwegian oil company Aker BP posted upbeat second-quarter results on Wednesday and said it will raise its dividend payments in the second half of the year, as it continued to benefit from high oil and gas prices due to the war in Ukraine.Earnings before interest…

Aker Solutions Raises 2022 Revenue Outlook

Jul 14, 2022

Norwegian oil services firm Aker Solutions raised its 2022 revenue outlook as it sees increased activity from oil and gas companies, with tender activity heading for a new record, it said on Thursday.The company now expects its 2022 revenues to rise by around 30% year-on-year…

Tullow Expects Cashflow of $200M at Oil Price of $95/bbl

Jul 13, 2022

Africa-focused Tullow Oil said on Wednesday it expected to make $200 million in free cashflow this year at an average oil price of $95 a barrel, adding that it sees no cashflow in the first half after an arbitration payment and an acquisition…

Blofeld, Al Gihaz Eye Potential Offer, Loan for Cash-strapped Lamprell

Jul 12, 2022

Cash-strapped offshore construction company Lamprell said Tuesday it had received a combined non-binding indicative all cash offer from Blofeld and Al Gihaz for the acquisition of all remaining Lamprell shares. The Blofeld and Al Gihaz have a combined shareholding of 44…

Saipem Shares Drop After Cash Call Falls Short

Jul 12, 2022

Shares in Italy's Saipem fell as much as 40% on Tuesday after investors subscribed for only 70% of its 2 billion euro cash call, signaling limited confidence in the turnaround plan for the Italian energy services group.Saipem said on Monday it had raised around 1…

UK Lawmakers Approve 25% Windfall Tax on Oil and Gas Producers

Jul 12, 2022

British lawmakers approved a 25% windfall tax on oil and gas producers in the British North Sea on Monday, which the government says will raise 5 billion pounds ($5.95 billion) in one year to help people struggling with soaring energy bills…

Current News

Denmark Awards First North Sea CCS Licenses

Denmark Awards First North Sea CCS Licenses

Windea Leibniz SOV Becomes CSOV after Upgrades by Ulstein

Windea Leibniz SOV Becomes CSOV after Upgrades by Ulstein

Trinidad & Tobago, Venezuela to Start Talks over Offshore Gas Field Development

Trinidad & Tobago, Venezuela to Start Talks over Offshore Gas Field Development

Iran Pens $900M Offshore Gas Field Development Deal

Iran Pens $900M Offshore Gas Field Development Deal

Subscribe for OE Digital E‑News

Offshore Engineer Magazine