African members of OPEC+ producer group Angola and Nigeria are aiming for higher oil output, officials told Reuters on Thursday, as the countries are locked in talks with the group about their production quotas for next year.The comments came…
Karoon Energy announced deals worth $720 million on Thursday to buy stakes in certain offshore oil and gas fields in the Gulf of Mexico from U.S.-based LLOG Exploration, in a move to diversify operations beyond Brazil and Australia.The oil and…
U.S. oil major ExxonMobil said Tuesday it had started production at Payara, Guyana’s third offshore oil development on the Stabroek Block, bringing total production capacity in Guyana to approximately 620,000 barrels per day. The company's third FPSO…
Chevron’s deal to buy Hess will unlock $15 billion worth of tax benefits that had once been relegated to the accounting dustbin, as the combined company takes advantage of Hess’s past losses to cut future payments, according to the company and tax experts…
Brazil's state-run oil company Petrobras raised its projection for oil and gas production this year, after posting a 41.5% decrease in third-quarter profit on Thursday.The firm lifted its 2023 oil and gas output to 2.8 million barrels of oil equivalent per day (boed)…
Norway's state-owned Statkraft could return to the British offshore wind market, but its key focus remains Ireland, Norway and Sweden, its CEO told Reuters on Friday.'We are looking at Britain,' Christian Rynning-Toennesen said after Statkraft's third-quarter earnings presentation…
Marine Technology Reporter (MTR) has been unveiled as the exclusive video media partner of the Oceanology International exhibition and conference and will be delivering extended broadcast coverage from the 2024 event (Oi24).The collaboration…
Abu Dhabi National Oil Company (ADNOC) has notified some term customers that it will reduce the volume of Upper Zakum crude oil supply in 2024, three sources with direct knowledge of the matter said on Thursday.The move could affect supplies to China…
U.S. Senate Majority Leader Charles Schumer on Wednesday urged the U.S. Federal Trade Commission to consider possible anti-competitive harms stemming from recent multi-billion dollar acquisitions by oil and gas giants Exxon Mobil and Chevron Corp…
Chevron posted a slump in third-quarter profit on Friday despite higher oil prices, days after agreeing to buy smaller U.S. rival Hess Corp. for $53 billion, sending its shares down 1.6% before the bell.The company had in July flagged that upstream…
Exxon Mobil's $59.5 billion deal to acquire oil and gas producer Pioneer Natural Resources may have been larger than Chevron's $53 billion agreement to buy Hess, but it is Chevron that is paying a loftier price tag.Pioneer generates twice as much annual cash as Hess…
Suriname offered late Monday to exchange $675 million of dollar bonds for new notes, the next step in negotiations after reaching a deal with its bondholders in May.The government offered holders of debt due in 2023 and 2026 to swap their notes for a new 10-year bond due July 15…
Oil and gas producer Hess Corp on Wednesday beat Wall Street estimates for third-quarter profit on higher production, days after agreeing to be bought by larger U.S. rival Chevron Corp for $53 billion.New York-based Hess's net production was 395…
Chevron agreed to buy U.S. rival Hess for $53 billion in stock in a deal that reflects top U.S. energy companies drive for oil and gas assets in a world seeking lower-risk future fossil supplies and higher shareholder returns. The proposed deal amps up competition between Chevron…
Saudi Energy Minister Prince Abdulaziz bin Salman said on Tuesday that recent multi-billion dollar acquisitions by U.S. oil majors Exxon Mobil and Chevron of smaller rivals showed that hydrocarbons were 'here to stay'.'Exxon, Chevron didn't buy because they want to have stranded assets…
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