French energy major Total said its net profit for the first three months of the year fell 4 percent to $2.8 billion compared with a year ago due to volatile oil prices and debt costs, despite record oil and gas output.The firm kept its investments…
Exxon Mobil Corp on Friday reported a 49 percent fall in first-quarter profit that missed forecasts due to weakness across its major businesses that showed the turnaround at the company remains a work in progress.The largest U.S. oil producer…
Norway's Aker BP, an oil firm partly owned by BP, posted on Friday a bigger than expected fall in operating earnings in first quarter, after impairments in the Ula area of the North Sea and higher exploration costs.Chief Executive Karl Johnny…
Canada's Husky Energy Inc beat analysts' estimates for quarterly profit on Friday, as it benefited from improved Canadian crude prices following Alberta's output cuts and investment in a number of refineries and pipelines boosted its margins per barrel…
Shell announced Wednesday it has made a significant discovery at the deepwater Blacktip prospect in the Alaminos Canyon Block 380 in the U.S. Gulf of Mexico.The discovery is located in approximately 1,900 meters water depth in the Alaminos Canyon Block 380…
Italian energy group Eni stuck to its production growth targets for the year on Wednesday, as it reported profits for the first quarter coming in below market expectations.Adjusted net profit in the quarter rose 4 percent to 992 million euros ($1…
Occidental Petroleum Corp on Wednesday started the first takeover battle for a major oil company in years, offering $38 billion for Anadarko Petroleum Corp, a bid that topped a $33 billion offer by Chevron Corp.Both suitors are offering a premium…
Currently one in every five barrels produced in the United States comes from the Gulf of Mexico (GoM), and 88% of that output flows from reservoirs in water depths greater than 500 feet.In 2016 the GoM produced 575 million barrels of oil, and in 2017 621 million barrels…
Oil prices jumped more than 2 percent on Monday to a near six-month high, on growing concern about tight global supplies after the United States announced a further clampdown on Iranian oil exports.Washington said it will eliminate in May all…
Angola's state oil company Sonangol plans to divest 52 joint ventures, reduce staff and focus on its core business, part of an ongoing reorganization and package of reforms designed to lure back investors, its chairman said on Friday.'We are going to sell…
The British multinational oil and gas company BP and its partners will lead a $6 billion development of the giant Azeri-Chirag-Deepwater Gunashli (ACG) oil-field complex offshore Azerbaijan.The supermajor said that the Azeri Central East (ACE)…
Gulf Drilling International (GDI) has signed a three-year contract with North Oil Company (NOC) to provide drilling services through the drilling rig Dukhan for NOC’s extensive development programmes in Al Shaheen oil field.The Al Shaheen Oil…
American multinational oil and gas corporation ExxonMobil said it made a new oil discovery offshore Guyana at the Yellowtail-1 well, marking the 13th discovery on the Stabroek Block.The discovery adds to the previously announced estimated recoverable resource of approximately 5…
Australia's Woodside Petroleum Ltd on Thursday posted a 4 percent rise in first-quarter revenue on higher realized prices for its oil and gas.Revenue rose to $1.22 billion for the three-months ended March 31, compared to $1.17 billion a year ago…
Chrysaor has reached a deal to acquire ConocoPhillips’ oil and gas exploration and production assets in the UK for $2.675 billion, the companies announced on Thursday.Full-year 2018 production and year-end 2018 proved reserves associated with the assets being sold were approximately 72…
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