Finance News

 

China's CNOOC Sees Q3 Revenue Soar, Reaffirms Green Investment

Oct 29, 2021

CNOOC Ltd's unaudited third-quarter revenue grew 64% to 59.7 billion yuan ($9.33 billion) on higher prices and output, the Chinese offshore oil and gas major said on Thursday.The state oil firm said it is mapping out an emissions-cutting roadmap…

Petrobras Posts Big Profit Right After Bolsonaro Says It Is Too Profitable

Oct 29, 2021

Brazil's Petrobras posted third-quarter results on Thursday that smashed profit and margin estimates, less than two hours after President Jair Bolsonaro said the state-run oil company was too profitable and would have to contribute more to society as a whole…

Lundin Energy to Lift Dividend by 25% as 3Q Profit Nearly Triples

Oct 29, 2021

Swedish independent oil firm Lundin Energy will raise its dividend for 2021 by 25% after its third-quarter operating profit almost tripled from a year ago, the company said on Friday.Lundin's earnings before interest and tax (EBIT) for July-September rose to $1…

Eni Q3 Profit Jumps Back to pre-COVID Levels Boosted by Gas

Oct 29, 2021

Italian energy group Eni on Friday beat expectations with a third-quarter profit that jumped back to pre-COVID levels boosted by higher gas prices.The group swung to an adjusted net profit of 1.43 billion euros ($1.67 billion) from a 153 million euro loss a year earlier and beat a 1…

Aker BP Raises Dividend as Q3 Profit Jumps on Strong Oil, Gas Prices

Oct 28, 2021

Norway's Aker BP said on Thursday it would increase its dividend payout as third-quarter profits soared on the back of strong oil and gas prices.Earnings before interest and tax (EBIT) for July-September rose to $849 million from $242 million a year ago…

Weak Q3 and Mixed 2022 Guidance Overshadow Saipem's New Plan

Oct 28, 2021

Weak quarterly results and mixed 2022 guidance overshadowed a new business plan from Saipem on Thursday, sending shares in the Italian energy services group down more than 8%.In his first strategy plan, Chief Executive Francesco Caio said Saipem…

Shell Sets Tougher Climate Targets, Q3 Income Below Expectations

Oct 28, 2021

Royal Dutch Shell set itself tougher emissions-cutting targets on Thursday, even as it reported a lower-than-expected third-quarter profit of $4.13 billion.The oil major said it would cut absolute emissions from its operations and the electricity it uses…

TotalEnergies Says Gas Prices Should Stay High, Q3 Earnings Soar

Oct 28, 2021

TotalEnergies' earnings rose sharply in third quarter, the French energy group said on Thursday, as it reaped the rewards of surging power prices and predicted gas prices would remain high in Europe and Asia though next spring.The company's third-quarter adjusted net profit soared to $4…

Seadrill Gets Court Approval to Cut Debt, Exit Bankruptcy

Oct 27, 2021

Offshore driller Seadrill Ltd on Tuesday obtained court approval for its reorganization plan, clearing the way for it to emerge from bankruptcy.U.S. Bankruptcy Judge David Jones in Houston signed off on the plan during a virtual hearing. Under the plan…

Equinor Posts Strongest Quarterly Result in Nine Years

Oct 27, 2021

Norway's Equinor posted its strongest quarterly result in nine years on Wednesday, driven by a global energy supply crunch that pushed Europe's natural gas prices to record highs and sent the value of derivative contracts soaring.The company…

Wintershall Dea Q3 Earnings More than Double on Higher Prices, Spending cuts

Oct 26, 2021

Oil and gas producer Wintershall Dea's most closely watched measure of earnings more than doubled in the third quarter, it said on Tuesday, benefiting from soaring oil and gas prices and spending cuts.The company, owned jointly by BASF and Russia's LetterOne…

Portugal's Galp Raises Earnings Outlook after Hefty 3Q Profit

Oct 25, 2021

Portuguese oil company Galp Energia on Monday raised its earnings outlook for 2021 after higher oil prices and positive refining margins buoyed profitability in the third quarter.Galp said its adjusted core earnings or EBITDA in this year as a whole would exceed 2…

Schlumberger 3Q Profit Rises as Oilfield Services Demand Recovers

Oct 22, 2021

Schlumberger NV reported a rise in third-quarter adjusted income on Friday, buoyed by higher demand for the company's oilfield services and related equipment from producers looking to capitalize on a rebound in crude prices.Global crude prices rose 4…

Seadrill Says Its Reorganization Plan Accepted by Creditors, Shareholders

Oct 11, 2021

Offshore drilling company Seadrill said all voting classes of stakeholders accepted its reorganization plan, including all 12 credit facilities and general unsecured creditors and shareholders, labeling the result as an important step to Chapter 11 emergence…

CNOOC Seeks to Raise $5.4B to Fund Key Oil and Gas Projects

Sep 27, 2021

China's state-run offshore oil and gas major CNOOC Ltd said it plans to raise up to 35 billion yuan ($5.41 billion) in a new share issue on the Shanghai stock exchange to fund several key oil and gas projects.The domestic fund-raising plan came as U…

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Deirdre Michie to Step Down as Offshore Energies UK CEO

Deirdre Michie to Step Down as Offshore Energies UK CEO

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