Saturday, August 24, 2019

Reuters News

Gulf Marine CEO Quits in wake of Profit Warning

A Gulf Marine Services Jack Up unit (CREDIT: GMS)

Gulf Marine Services said on Wednesday Chief Executive Officer Duncan Anderson has resigned as the oilfield industry contractor warned a reassessment of its ships and contracts showed profit would fall this year…

Brent Oil Prices Rise Above $60

© freddytb Foto / Adobe Stock

Brent crude oil futures rose above $60 a barrel on Wednesday after industry data showed a larger-than-expected drop in U.S. crude inventories, but lingering worries about a possible global…

Oil Search on Tenterhooks over Total's PNG Gas Deal

Oil Search warned on Tuesday that costs for a $13 billion plan to double gas exports from Papua New Guinea could rise if talks on a gas agreement between the government and Total SA drag…

Saudi Aramco Asks Banks to Pitch for IPO Roles

(Photo: Saudi Aramco)

Saudi Aramco has formally asked major banks to submit proposals for potential roles in its planned initial public offering, two sources with direct knowledge of the matter said.Aramco's planned IPO, which could potentially raise $

Chinese Ship Returns to Vietnam's EEZ

A Chinese survey ship returned to Vietnam's exclusive economic zone off its coast on Tuesday, ship tracking data showed, less than a week after it left the area where vessels from the two…

Exxon's Cepu Production May Exceed Capacity

The Central Processing Facility of Banyu Urip field located in Bojonegoro, East Java.  (Photo: ExxonMobil)

Crude output from Exxon Mobil Corp's Cepu block may exceed its capacity of 220,000 barrels per day (bpd) this year, to reach 235,000 bpd, upstream oil and gas regulator SKK Migas told reporters on Thursday.Potential reserves at th

U.S. Crude Stockpiles Unexpectedly Rise - EIA

© RobertCoy / Adobe Stock

U.S. crude stocks rose last week, while gasoline and distillate inventories also rose, the Energy Information Administration said on Wednesday.Crude inventories rose by 2.4 million barrels in the last week…

Petrobras Posts Highest-ever Quarterly Profit

Photo: Petrobras)

Brazilian state-run oil firm Petroleo Brasileiro SA posted its highest ever quarterly profit on Thursday and handily beat analysts' estimates, thanks in large part to billions of reais in asset sales.In a securities filing…

Oil slumps 7% as More Tariffs Loom

AdobeStock / © Kasto

Oil prices plummeted more than 7% on Thursday, with the U.S. benchmark posting its worst day in more than four years, after President Donald Trump said he would impose additional tariffs Chinese imports starting Sept.

Fire Erupts at Exxon's Baytown complex; 37 Hurt

An aerial view of the houston Refining complex (CREDIT: AdobeStock / © Irina K)

Exxon Mobil Corp said it was fighting a fire that erupted on Wednesday at its Baytown, Texas, refining and chemical plant complex injuring 37 people and sending nearby residents indoors.As…

U.S. Senate Panel Backs Nord Stream 2 Pipeline Sanctions Bill

Photo: Nord Stream

A U.S. Senate committee passed a bill on Wednesday to slap sanctions on companies and individuals involved in building the Nord Stream 2 pipeline from Russia to Germany that the Trump administration…

BP Profits Lifted by Production Uptick

(Photo: BP)

A strong rise in oil and gas production helped BP offset weaker crude prices and refining profit to again beat profit expectations on Tuesday, boosting its shares.BP's second quarter contrasts with Total and Norway's Equinor…

Mexico's Pemex Narrows Loss

Mexican state oil company Pemex reported a narrower loss of 52.7 billion pesos ($2.7 billion) in the second quarter on Friday, as the heavily indebted firm faces the prospect of a fresh…

U.S. Court Vacates Dominion Atlantic Coast Natgas Pipe Permit

Photo: Atlantic Coast Pipeline

A U.S. appeals court in Richmond, Virginia, on Friday vacated a permit by the U.S.

Tullow Decides $33 Mln Interim Payout

(Photo: Tullow Oil)

The board of British oil producer Tullow will pay an interim dividend of 2.35 cents per share, representing a payout of about $33 million, the company said on Wednesday, in line with plans…

Beach Energy to Boost Drilling Spend

(Photo: Beach Energy)

Beach Energy, Australia's third-largest independent oil and gas producer, ended the 2019 financial year more cashed up than expected and plans to step up spending on drilling while keeping an eye out for acquisitions…

ADNOC, Pertamina Ink Development Pact

(Photo: ADNOC)

The Abu Dhabi National Oil Company (ADNOC) signed an agreement on Wednesday with Indonesia's state-owned energy company PT Pertamina for oil and gas collaboration in both countries and globally, ADNOC said in a statement.The compr

Tanzania State Oil Company Chief Reinstated

© md3d / Adobe Stock

The former head of Tanzania's state company oil is being reinstated by Tanzanian President John Magufuli, after the executive was suspended in 2016 over claims of abuse of office, the presidency said.James Mataragio…

Last Yamal LNG Arctic Ships on Sea Trials

Arctic Firsts: Arc 7 LNG carriers, including the Risunok and the ice-breaking Christophe de Margerie (pictured here). (Photo Courtesy: Yamal LNG and Sovcomflot)

The last of 15 Arc7-classed tankers ordered for the liquefied natural gas (LNG) production plant Yamal LNG in Russia's Arctic north are undergoing sea trials around a South Korean shipyard…

Aker Energy IPO May be in Late 2019 or 2020

Aker Chief Executive Oeyvind Eriksen (Photo: Aker)

Norwegian investment firm Aker could launch its planned initial public offering (IPO) of Aker Energy in late 2019 or in 2020, depending on when Ghana approves the development plan of its Pecan oilfield, the CEO said.The company, c