Russia's second-largest oil producer Lukoil said on Tuesday its third-quarter net income rose 5% quarter on quarter to 190.4 billion roubles ($3 billion) helped by a lower effective income tax rate.Its sales fell 8.1% from the second quarter to 1…
Malaysia's state energy firm Petroliam Nasional Bhd said on Tuesday its third-quarter profit nearly halved due to lower demand and impairment charges, and warned of further risks to demand.Profit for the July-September period at Petronas, as the company is better known…
Bids for North Sea oil and gas firm Siccar Point, backed by private equity groups Blackstone and Blue Water Energy, came in at between $1.2 billion and just under $2 billion, according to three industry sources.Bidders in the first round, which ended on Nov…
Neptune Energy said on Friday there was only a 'remote' possibility it would launch an initial public offering next year, as the group was focused for now on exploration and bringing projects to production.Chief Executive Jim House also said…
With the oil price tracking a course that’s keeping nearly every oilfield viable, operators in the second half of 2019 are drilling a bevy of exploration and production wells that’s just lifting rig futures.Paradoxically, oil companies drill…
Malaysia's state of Sarawak filed a writ summons and statement of claim against national energy firm Petroliam Nasional Bhd on Thursday to recover taxes owed, according to media reports.National news agency Bernama reported that the company…
Total criticized on Thursday the European Investment Bank's decision to stop financing all fossil fuel projects including gas, saying companies that might switch to gas-fired power plants from heavy-polluting coal could now reconsider.'I think…
BW Offshore, a provider of floating production services to the oil and gas industry, has successfully completed a NOK 900 million senior unsecured bond issue with a coupon of three months NIBOR + 4.50% and maturity in December 2023.The Oslo…
Dutch oil and gas services firm SBM Offshore on Thursday raised its full-year core profit and revenue outlook on better-than-expected performance in its turnkey division.For 2019, SBM Offshore now expects earnings before interest, tax, depreciation…
Tullow Oil cut its outlook for production and cash flow because of persistent problems in Ghana, while revealing that the quality of oil recently discovered in Guyana was heavy in nature, sending its shares down more than 20%.Commenting for…
Japanese companies have decided to proceed with the deepwater floating production, storage, and offloading system (FPSO) charter project for the Petrobras-operated Búzios pre-salt oil field located offshore Brazil.MODEC, Mitsui & Co., Mitsui O…
Economists have lowered their forecasts for the Brazilian government's primary budget primary deficit this year but raised it for next year, an economy ministry survey showed on Tuesday.The expected increase in the 2020 deficit compared with…
Lower prices and increasing competition for investment are driving many African states to make it easier and cheaper for overseas companies to keep their oil and gas output flowing.From Ghana to Gabon, governments are adjusting terms to lure…
Activist investor Carl Icahn, who has been waging a bitter battle against Occidental Petroleum Corp's board over its $38 billion acquisition of Anadarko Petroleum, cut his holdings in the oil and gas producer by nearly a third, according to an open letter to shareholders released on Friday…
Offshore services provider Subsea 7 cut its 2019 revenue outlook on Thursday but predicted a rebound next year as demand for oilfield services and from renewable energy providers is set to increase, boosting its shares almost 6%.Subsea 7 now expects a slight decline in revenue this year from 2018…
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