Woodside Energy's profit for the first half of the year beats expectations due to higher oil prices
Woodside Energy announced a 7% increase?in its half-year profits?on Tuesday, driven by a surge in the price of oil due to the conflict in the Middle East as well as an increase in demand for their products. Prices of oil?rose to multi-year-highs in April due to fears about supply disruptions in Middle East.
TotalEnergies CEO: New exploration planned in Norway
TotalEnergies, the French oil giant, will appoint an exploration manager in Stavanger to examine new projects?in?the country. This was announced by its CEO on Norwegian TV on Monday. Patrick Pouyanne, speaking at the ONS Energy?conference held in Stavanger, said that the Norwegian continental shelf was a prolific basin.
Canadian Natural raises production outlook, beats quarterly profit estimates on higher crude prices
Canadian Natural Resources raised its full-year production forecast on Thursday for the second time in a row. It also beat analysts' expectations for the second quarter profit as record production and higher crude prices boosted earnings. Canada's oil-sands producers…
Beach Energy's shares fall on weak production forecast, but the company is still profitable.
Beach 'Energy' posted a profit for the year on Thursday. This is a dramatic turnaround from a loss a year earlier. However, shares in this Australian oil and gas producer fell more than 6% as investors focused on their?soft? production outlook. The Adelaide-headquartered…
Sheinbaum, a Mexican company, is weighing pilot fracking to boost gas production.
According to four sources familiar with the discussion, Mexican President Claudia Sheinbaum has been evaluating possible pilot fracking in the northern states of Coahuila & Tamaulipas that could boost domestic gas production. Mexico produces crude oil and natural gas via fracking.
ExxonMobil to recoup initial costs and increase profits in Guyana
ExxonMobil's joint venture in Guyana has recovered the?billions?of dollars?it invested for developing a large oilfield, according to its chief financial office. The South American nation will receive more money from oil. Since its discovery in 2015, the U.S. Oil Producer's portfolio has included Guyana's Stabroek Block.
ExxonMobil to recoup initial costs and increase profits in Guyana
ExxonMobil's joint venture has recovered billions in investment to develop an oilfield in Guyana. The South American nation will receive additional oil money. Since its discovery in 2015, Guyana's Stabroek Block has been a top asset for the U.S. oil company's portfolio.
Matador buys Paloma permian for $1.2 billion to boost Delaware Basin presence
Matador Resources announced?on Thursday that it will buy the privately-held?Paloma Permian?from EnCap Investments?for about $1.28billion,?adding a high-quality drilling asset in?the oil rich?Delaware Basin. U.S. shale producers prioritize acquisitions of premium drilling inventory, over rapid production growth.
Norway offshore workers and employers enter mediation to avoid strike
On Wednesday, Norwegian unions representing offshore drilling platform and 'floating platform' workers began wage negotiations mediated by the state. The aim was to avoid a strike that would have taken place on?Friday and could affect parts of?the oil and gas industry in Norway.
Shell sells Gulf of America assets for $1.7 billion to Talos Energy Ridgewood
Shell announced a deal on Tuesday to sell its interest in the Na Kika Platform and associated fields in the Gulf of America to subsidiaries of Talos Energy & Ridgewood Energy. The sale will be for $1.7 billion. Shell will produce 37,000 barrels equivalent to oil per day from the assets in 2025.
Vaar Energi to invest $1.4 billion in 3 oil and gas discoveries offshore Norway
Vaar Energi, together with its partners, will invest approximately 14?billion crowns (1.42 billion dollars) in order to develop three oil & gas discoveries offshore Norway. This is according to plans that were submitted to the Energy Ministry on Thursday. Cerisa Nord…
Petronas finds new gas in Suriname offshore block. Discoveries equivalent to 1 billion barrels
The president of Suriname Jennifer Simons announced on Tuesday that Malaysia's state energy company Petronas has made another gas find at the offshore 'Block' 52 in Suriname. A company executive stated the eight discoveries contained more than one billion barrels oil equivalent.
Norway's Equinor buys back shares twice as much due to cash flow from the Iran war
Equinor, a Norwegian company, announced on Tuesday that it would increase its share-buybacks. This will return more cash to shareholders as the Middle East war has increased the price of gas and oil. Equinor, a majority state-owned company, said it would spend $3 billion this year to buy back its own shares.
Norway Oil Sector Workers Threaten Strike from June 5,
Labour union data revealed that nearly eight percent of Norwegian offshore oil and gas workers intend to strike if the state-brokered wage mediators fail. It wasn't immediately clear whether a strike could affect Norway's oil production. According to the government appointed mediator's office…
Petronas executive says that Indonesia and Malaysia have approved the transfer of assets to the new Eni-Petronas joint venture.
A Petronas executive announced on Thursday that the Indonesian and Malaysian government?approved the change of ownership for oil and?gas blocks which will be?transferred to a new 'joint venture' between Petronas & Eni. Eni, the Italian energy company and Malaysian…
Equinor and Aker BP exchange stakes in several Norwegian oil fields
Equinor, a Norwegian oil company and BP said that they had agreed to swap stakes in several 'oil and gas' fields near the Norwegian coast. This could increase production through accelerating new developments. The initial deals included?stakes? in a cluster known as Ringvei Vest…
Inpex, Japan's oil company, raises its full-year profit estimate as oil prices rise
Inpex, Japan's largest oil and gas exploration company, raised its net profit forecast for the full year on Wednesday. It cited higher than expected crude oil prices as well as a weaker Japanese yen in light of the Middle East crisis. Inpex has revised its 'net…
Ecopetrol's Q1 profit drops 7.7%
Ecopetrol, Colombia's state-owned oil producer, reported on Tuesday a 7.7% decline in net profit for the first three months of 2026 from a year ago. This was due to lower sales and exchange rate effects. Higher taxes also offset gains made by a strong refining performance.
Italy and Libya discuss enhancing energy ties
Giorgia?Minister Meloni, Italian Prime Minister and her Libyan counterpart Abdulhamid Dbeibah met on Thursday to discuss strengthening the energy cooperation. This comes at a moment when Italy is trying to diversify its energy supply due to the turmoil that has been occurring in the Gulf. The U.S.
Canadian Natural exceeds profit expectations on higher oil production
Canadian Natural Resources, the nation's largest oil-and-gas?producer exceeded expectations for its first quarter profit on Thursday. This was fueled by higher production of?its oil?sands segment?as well as conventional operations. Canada's oil-sands producers…