Finance News

 

Exxon Mobil to Keep Dividend Flat for First Time Since 1982

Oct 29, 2020

Exxon Mobil Corp on Wednesday kept its fourth-quarter dividend flat at 87 cents a share, signaling 2020 will be the first year since 1982 that the U.S. oil producer has not raised its shareholder payout.The largest U.S. oil producer by volume…

Aker Solutions EBITDA Boosted by One-Off Gain from CCS and Offshore Wind Spinoffs

Oct 28, 2020

Norwegian offshore engineering and equipment provider Aker Solutions reported a drop in revenue in the third quarter of 2020, but its net profit rose. Aker Solutions' result received a one-off boost from the listing of carbon capture and offshore wind spinoffs…

Eni Posts 3Q Loss. Output Drops but Full Year Forecast Unchanged

Oct 28, 2020

Italian energy group Eni's balance sheet remains strong, it said on Wednesday after swinging to a third-quarter net loss as the coronavirus crisis took its toll.The company said it recorded an adjusted net loss of 0.15 billion euros ($177 million)…

Hess Cuts 2020 Output Forecast Slightly Due to Hurricanes, Lower SE Asia Production

Oct 28, 2020

U.S. oil and gas producer Hess Corp reported a bigger-than-expected quarterly loss on Wednesday and slightly lowered its full year production forecast, as its operations were hit by hurricanes in the Gulf of Mexico and lower production in South East Asia…

Ørsted's 3Q Results Beat Expectations

Oct 28, 2020

Danish energy group Ørsted beat third-quarter profit expectations on Wednesday but said offshore wind projects in the United States faced “significant” delays.The world’s largest offshore wind farm developer kept its full-year guidance for earnings before interest…

Saipem Expects 'Brighter' Year End After Q3 Loss

Oct 28, 2020

Italian energy services group Saipem expects no major delay to projects and predicted brisker business in the last part of the year after swinging to a loss in the third quarter.'We are not out of the woods yet ... (but) the picture starts to get brighter…

BP Swings Back to Small 3Q Profit

Oct 27, 2020

BP swung back to a small profit in the third quarter but warned the pace of recovery from the pandemic remains uncertain and continued to weigh on fuel demand and refining profits.The London-based company said that while fuel demand in Asia…

Third Straight Quarterly Loss for Baker Hughes

Oct 21, 2020

Baker Hughes Co reported a third straight quarterly loss on Wednesday, as a coronavirus-induced slump in commodity prices continued to hurt demand for equipment and services.Producers have been drilling fewer wells following a collapse in crude…

Halliburton Posts Fourth Straight Quarterly Loss

Oct 19, 2020

Halliburton Co posted its fourth-straight quarterly loss on Monday, as the world's second-largest oilfield services provider struggles with a plunge in demand and lower oil prices.Even though oil prices have recouped some of their losses from the historic lows of March and April…

NYSE Warns Transocean of Potential Delisting Risk

Oct 19, 2020

Offshore drilling contractor Transocean has received a listing warning from the New York Stock Exchange after its average closing share price fell below the minimum of $1.00 per share during a consecutive 30 trading-day period. From the date of the formal non-compliance notice…

Norway: Offshore Projects See Delays, Rise in Costs on Weak NOK, Virus

Oct 07, 2020

Equinor, Norway's largest oil company, said Tuesday that the Covid-19 pandemic and weakened Norwegian krone have negatively impacted some of its offshore development projects in Norway, however, the company said that its 'combined project portfolio is still very resilient…

Premier Oil Gets Some Breathing Space from Creditors

Oct 01, 2020

Creditors of Premier Oil have extended a waiver for the group's debt covenant test until Nov. 5, Premier said on Thursday, granting it breathing space to avoid an immediate debt crunch and work on a longer-term plan.Premier needs to convince…

KrisEnergy Gets Kepinvest Support to Bring Cambodia Offshore Oil Project Online

Sep 23, 2020

Southeast Asia-focused oil company KrisEnergy has reached a loan deal with Kepinvest Singapore, that should help the company bring online its Apsara offshore project in Cambodia's Block A on time, and remove the risk of losing the license.Namely…

Aker BP Contemplating US Dollar Loan

Sep 23, 2020

Norwegian independent oil firm Aker BP will hold meetings with fixed-income investors to prepare the ground for a possible U.S. dollar-denominated loan, the company said on Tuesday.The potential issue of investment-grade senior unsecured notes will be subject to market conditions…

Borr Drilling to Postpone Debt Payment, Plans Stock Issue to Weather Downturn

Sep 23, 2020

Oil rig operator Borr Drilling Ltd has agreed with lenders to postpone the deadline for repayment of some of its debt, and aims to raise capital through equity as it seeks to overcome a demand slump, the company said late Tuesday.Borr, which is dual-listed in Oslo and New York…

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