Norway's Equinor and Poland's Polenergia made a final investment decision for the project to build two wind farms off the Polish coast of the Baltic Sea, the Warsaw-based company said on Monday.The two farms, each with a generation capacity of 720 megawatts are set to cost a total of about 6…
Shell, the top U.S. offshore producer, said this week that two of its wells to boost production at the Perdido offshore development were delayed to the end of the year, while one was brought online in March.All three wells, part of Perdido's Great White unit…
Saudi oil giant Aramco, a longtime cash cow for the kingdom, reported a 4.6% drop in first-quarter profit on Sunday due to lower sales and higher operating costs as economic uncertainty hit crude markets.The world's top oil exporter reported net profit of 97…
Shell on Friday reported a 28% drop in first-quarter net profit to $5.58 billion, beating analyst expectations, and kept the pace of its share buyback programme steady amid falling oil prices and lower refining margins than last year.It said it would buy back $3…
Dutch oil and gas services firm SBM Offshore reported a 27% rise in its first-quarter revenue on Thursday, boosted by strong performance across all its segments, particularly in its turnkey unit.The Amsterdam-listed firm, which provides floating production services to the offshore energy industry…
Brazil's Petrobras on Monday posted a net profit of 35.2 billion reais ($6.21 billion) for the first quarter, up 48.6% from a year earlier, boosted by non-recurring events, while also announcing about $2.1billion in dividends.Without one-off events…
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The U.S. Gulf of Mexico can continue growing oil output even amid geopolitical volatility not seen in decades, oil and gas industry leaders said on Monday.U.S. President Donald Trump's global tariff announcements have since last month contributed…
Norwegian geophysical services company Electromagnetic Geoservices (EMGS) has established a new business platform within the offshore subsea construction market, having entered into a set of agreements for the acquisition of Siem Day offshore subsea construction vessel (OSCV)…
BP on Tuesday reported a deeper-than-expected 48% drop in net profit to $1.4 billion on weaker refining and gas trading and announced the departure of its strategy chief.CEO Murray Auchincloss is in under pressure from activist investor Elliott to improve profitability and cut costs…
A final investment decision on TotalEnergies' new Cyprus gas project could come in 2026, CEO Patrick Pouyanne told analysts on Wednesday, with deliveries expected in 2028 or 2029.The French oil major is developing Block 6 at the Cronos gas field in a 50-50 joint venture with Italy's Eni…
Noble Corporation’s recent decision to sell the Pacific Meltem and Pacific Scirocco for non-drilling purposes highlights a key issue in the drillship market: What happens to cold-stacked rigs that are unlikely to return to work? With the floater…
Chevron on Friday reported first-quarter earnings that met Wall Street estimates, but said it would spend less on share repurchases in the current quarter, reflecting the shaky economic outlook faced by Big Oil.The company's share repurchases this year could be between $11…
Italian energy group Eni on Thursday reported a smaller than expected 11% yearly drop in adjusted net profit for the first quarter.Adjusted net profit came in at 1.41 billion euros ($1.60 billion) between January and March, down from 1.58 billion euros in the first quarter of 2024…
Portugal's Galp Energia reported a 29% drop in adjusted first-quarter core profit on Monday, hit by falling oil output and a decline in refining margins to less than half the levels booked a year ago.Adjusted earnings before interest, taxes…
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