ConocoPhillips on Thursday raised its shareholder payout target by 50% after the largest U.S. independent oil producer beat Wall Street's earnings estimates on surging energy prices.Oil and gas prices have skyrocketed with Western sanctions on major producer Russia throttling energy supply amid a rebound in demand from pandemic lows. Crude is trading about 25% higher since the start of the year and results also benefited from strong natural gas prices…
Spain's Repsol said on Thursday its fourth-quarter adjusted net profit more than doubled, helped by high oil and gas prices, and flagged a big increase in capital spending for this year. Its fourth-quarter profit surged to 2.01 billion euros ($2…
China's CNOOC Ltd has set its 2023 production target at a record 650 million to 660 million barrels of oil equivalent (boe), about 8% above last year's goal. The state-controlled offshore oil and gas company produced about 620 million boe last year…
Top oilfield services firm SLB will raise its quarterly dividend next year by 43% and resume a share buyback program, executives said on Thursday, offering an upbeat view of energy markets. Although annual revenues have fallen every year since 2019…
Norway's Equinor joined European peers in hiking shareholder payouts after posting record pretax profits for the fourth quarter due to a boom in oil and gas prices.Adjusted earnings before tax rose to $15.0 billion in the October-December quarter from $756 million in the same period a year ago…
Hess Corp said on Tuesday it expects its 2022 capital budget for production to rise 37% as the oil company looks to focus on its operations in Guyana and the U.S. Bakken shale basin.A more than 50% rise in global crude prices in the past year…
Woodside Petroleum expects to hike its capital spending by about a third to $4 billion in 2022, as it advances oil and gas growth projects in Western Australia and Senegal as well as steps up efforts to start producing hydrogen.After booking record quarterly sales revenue on soaring LNG prices…
Abu Dhabi National Oil Company (ADNOC) announced on Wednesday a $127 billion capital spending plan for 2022-2026, as it reported an increase in the United Arab Emirates' (UAE) oil and natural gas reserves.The state-owned company said national…
Chevron Corp on Friday reported its highest profit in six quarters and joined an oil industry stampede to reward investors with share buybacks, as rebounding crude oil prices carried earnings and cash flow to pre-pandemic levels.Oil and gas…
Exxon Mobil has relinquished its 80% interest in Ghana’s Deepwater Cape Three Points offshore block, a spokesman told Reuters on Thursday.“Exxon Mobil is prioritizing near-term capital spend on the most advantaged assets with the lowest cost…
U.S. energy firms added oil and natural gas rigs this week, leading to a ninth straight monthly rig count increase, as a recovery in prices lured some drillers back to the wellpad.The oil and gas rig count, an early indicator of future output…
ExxonMobil Corp on Friday topped Wall Street quarterly earnings estimates and posted its first profit in five quarters, boosted by higher oil prices and strong chemicals margins.Exxon and rivals results this year have been rising with crude oil prices…
Chevron Corp's first-quarter profit fell 29% from the same period a year ago as gains from oil and gas prices were undercut by weaker refining margins, production losses and the impact of an asset sale that benefited results last year.Oil companies are generally enjoying a recovery in energy prices…
China's national offshore oil and gas producer CNOOC Ltd reported on Thursday its first-quarter revenue surged 21% on year on recovering oil and gas prices and higher sales.Revenue was 48.34 billion yuan ($7.45 billion) over the January-March period…
China’s offshore oil and gas major CNOOC Ltd is expected to start production at Lingshui 17-2, a large deepwater natural gas deposit in South China Sea, in the first half of 2021, the company executive said on Thursday.Lingshui 17-2 is CNOOC’s first fully-owned deepwater gas project…
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