Oil & Gas

In this article XOM Follow your favorite stocksCREATE FREE ACCOUNT Gas prices are displayed at an Exxon gas station on July 29, 2022 in Houston, Texas. Brandon Bell | Getty Images Three academics from Harvard and the University of Potsdam in Germany published a study in the journal Science on Thursday providing evidence that Exxon Mobil,

Perenco has installed its eleventh self-elevating platform system, with a new unit installed by its Congo unit, Perenco Rep. The company installed the system on the Mibalé Field, offshore DRC. The Fololo design (flower in Lingala), which were initially developed by Perenco for operations in the DRC, comprises lightweight floating pontoons and legs that can

An oil pumpjack operates in the Inglewood Oil Field on January 28, 2022 in Los Angeles, California. Mario Tama | Getty Images An oil company with a drilling operation in the Wilmington neighborhood of Los Angeles has filed a lawsuit against the city over its law to ban new wells and phase out all drilling within city

Global tech and HPC major, CGG, is expecting its fourth quarter 2022 revenue to reach $321 million. The figure would mean a 48 percent increase on the previous quarter and an 8 percent proforma jump in the corresponding quarter in 2021. The rise in revenue is driven by strong aftersales, especially in the US Gulf

Employment in the U.S. oilfield services and equipment sector rose by an estimated 4,677 jobs to 650,587 in December, according to preliminary data from the Bureau of Labor Statistics (BLS). The employment numbers were announced after adjustments to November numbers and analysis by the Energy Workforce & Technology Council. November’s adjusted number of 645,910 is

Independent oil and gas exploration and production company IGas has announced that Doug Fleming accepted an invitation to join the Board of the company. IGas stated that Fleming would join the company as an Independent Non-executive Director with immediate effect. He will be a member of the audit committee. Fleming was most recently a Chief

Shell Plc said its gas-trading earnings were “significantly higher” in the final three months of 2022 as the unit previously run by the company’s new boss overcame some of the challenges encountered earlier in the year. The update published on Friday suggests the company may avoid a repeat of what happened in the third quarter,

Don’t let pictures of snowbound Americans give you the wrong impression. Worldwide, it’s actually a pretty warm winter. Europeans, in particular, are enjoying sweater weather — it was 16C (61F) in Berlin on New Year’s Day. But China and central Japan are also looking at unseasonably mild temperatures next week and into the Lunar New

It should be another good year for energy stocks, according to Goldman Sachs. The sector outperformed the S & P 500 by 78% in 2022, and while it is unlikely there will be a repeat of that magnitude, the backdrop is still constructive for energy equities, analyst Neil Mehta said in a note Tuesday. “We

Oil posted a large loss the first week of trading in the new year as demand uncertainty continued to hang over the market. West Texas Intermediate settled below $74 a barrel, posting the largest weekly loss in a month, over 8.1%. Saudi Arabia cut prices for crude sold to Asia and Europe in February, signaling

Italian major Eni has incorporated its new company dedicated to sustainable mobility, named Eni Sustainable Mobility. The unit is vertically integrated along the entire value chain, bringing together services and products that support the energy transition and accelerate the path to net zero emissions throughout their entire life cycle. Eni Sustainable Mobility will develop bio-refining,

Mexico’s Petroleos Mexicanos is evaluating debt payment options with the Finance Ministry as the company struggles to convert high oil prices into profits amid weak production and a focus on refining instead of exporting its crude.  Pemex Chief Executive Officer Octavio Romero Oropeza said he’s been in talks with the Finance Ministry since the last

Plenitude, through its US subsidiary Eni New Energy US, has acquired the 81 MW Kellam photovoltaic plant located in North Texas. Plenitude is located 80 kilometers from the Dallas-Fort Worth metroplex. The plant, sold by Hanwha Qcells, joins the other assets within Texas and the rest of the United States in Plenitude’s portfolio, which reaches,

Rates for petroleum product tankers that carry low-sulfur petroleum products, including refined petroleum products such as motor gasoline, diesel fuel, jet fuel, and naphtha, reached multiyear highs this summer. The U.S. Energy Information Administration (EIA) said that rates for these tankers, known as clean tankers, remained elevated through November, driven largely by the effects of

US government scientists warned federal regulators the South Fork offshore wind farm near the Rhode Island coast threatened the Southern New England Cod, a species so ingrained in regional lore that a wooden carving of it hangs in the Massachusetts state house. The Interior Department approved the project anyway. The warnings were delivered in unpublished

US shale executives remain concerned about the outlook for rising costs going into 2023 as they continue to struggle with hiring and retaining workers, according to the Federal Reserve Bank of Dallas. A majority of respondents polled in the bank’s latest quarterly energy survey, which was released Thursday, said they expect to increase capital spending

Oil ended a volatile year modestly higher as investors look ahead to a potential rebound in Chinese demand next year. West Texas Intermediate futures staged a last-minute rally in the final session of the year to settle above $80, marking a 4% annual gain. The finish was a far cry from the triple digits seen

Three associations, the American Petroleum Institute (API), the Asociación Mexicana de Empresas de Hidrocarburos (AMEXHI) and the International Association of Oil & Gas Producers (IOGP), have strengthened their cooperation through a new memorandum of understanding. The MoU will see the trio cooperate on helping to enhance operational performance across North American natural gas and oil

Oil prices may not have as wide a swing in 2023 as they had in 2022, but the market will still remain volatile and risks price shocks as much from economic developments as geopolitical ones, energy analysts say. One of the biggest wild cards for markets in general is the economic reopening of China as

Solstad Offshore has been able to book work for the CSV Normand Maximus to the tune of $50.8 million. The company has received Letters of Award from a number of undisclosed subsea contractors for the hire of the vessel throughout 2023. The projects have a combined duration of minimum of 200 days plus additional option