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Woodside Profit, Dividend Beat Estimates

Aug 27, 2024

Australia's Woodside Energy reported on Tuesday a decline of 14% in half-year profit, hit by lower oil prices, but the result and its dividend beat market expectations, sending shares up 4%.Chief Executive Meg O'Neill said there had been a flood…

Ithaca Energy Says Profits Are Down Nearly 34%

Aug 23, 2024

North Sea oil and gas company Ithaca Energy reported a nearly 34% fall in net profit for the first half of the year on Thursday, hurt by lower production, a decline in natural gas prices and impairment charges.Shares of Ithaca, fell about 2…

North Sea Realism in a Busy Market

Aug 28, 2024

The offshore support vessel (OSV) market is very much a global industry where ships frequently mobilize between regional markets. This offers far more opportunities than markets more closely linked to their specific local geography and operational patterns…

Full Output Resumes at Liza Unity in Guyana

Aug 26, 2024

An Exxon Mobil consortium's crude output in Guyana has been fully restored at two floating production facilities after workers completed a natural gas pipeline tie-in, a company spokesperson said on Monday.Output had fallen to between 400,000 and 500…

Demand Concerns Drive Oil Prices Down

Aug 22, 2024

Oil prices edged lower for a fifth session on Thursday as investors worried about the global demand outlook, however a decline in U.S. fuel inventories limited declines.Brent crude futures LCOc1 slipped 2 cents to $76.03 a barrel, while U.S…

FourPhase Bags New Contracts and Extensions

Aug 22, 2024

FourPhase, a specialist in solids and production performance for the oil and gas industry, announced it has secured three new or extended service contracts with international operators, reinforcing its role in maintaining sand-producing wells…

OPEC⁺ Faces Moment of Truth on Planned Output Increase

Aug 22, 2024

In the next few weeks, Saudi Arabia and its OPEC⁺ allies must take a delicate decision about whether to proceed with planned production increases from October, or postpone them because of an uncertain economic outlook.The recent slides in front-month Brent futures prices…

‘World’s Largest’ Floating Wind Platform on Its Way to Offshore Site in China

Aug 13, 2024

China’s Mingyang Smart Energy has started towing what’s said to be the world’s largest single-capacity floating wind platform, rated at 16.6MW, to the the Qingzhou IV offshore wind farm site in South China Sea.The floater, dubbed OceanX, features…

Industry First: Deepwater Tech Brings Chevron's Anchor Field Online (Video)

Aug 12, 2024

The first oil from the Anchor field, operated by Chevron with partner TotalEnergies, has started flowing in the U.S. Gulf of Mexico, marking the successful delivery of the high-pressure technology in an industry first.The high-pressure technology…

BP Posts $2.8B Second Quarter Profit, Raises Dividend

Jul 30, 2024

BP increased its dividend and extended its share repurchasing programme on Tuesday as it reported a forecast beating second-quarter profit of $2.76 billion, with weak refining offset by stronger oil prices and retail.The result will ease pressure…

Hess Guyana's Value is Central to Exxon Mobile Spat

Aug 20, 2024

An arbitration panel that will decide a high-profile clash between Exxon Mobil and Chevron will delve into the secret value of Hess' oil riches in Guyana, people familiar with the matter said.Chevron last October offered to pay $53 billion for Hess…

Inside the Future of AI-Driven Weather Prediction

Aug 20, 2024

Volue and Jua announce a partnership to harness the power of AI driven weather predictionVolue announced a partnership agreement with Jua that the tandem see as revolutionizing weather prediction for the renewable energy market.  The partnership…

Heat Drives Asian LNG Spot Price Spike

Aug 16, 2024

Asian spot liquefied natural gas (LNG) prices rose to their highest in over eight months, with warmer temperatures across the region boosting power demand for cooling purposes.The average LNG price for October delivery into north-east Asia LNG-AS was at $14…

Shell Beats Forecasts With $6.3B Q2 Profit

Aug 01, 2024

Shell reported second-quarter profit of $6.3 billion, a drop of 19% from the previous three months, as refining margins and oil and gas trading weakened, though still beating analysts' forecasts.The results were nearly 25% higher than a year earlier…

Oil Price Drops on China Worries

Aug 16, 2024

Oil prices fell about 2% on Friday and were set to end the week around the same levels as last, with Brent crude just below $80 a barrel, as investors tempered expectations of demand growth from top oil importer China.Brent crude futures LCOc1 fell by $1…

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