A Norwegian drill rig owner is supplying Russian oil giant Rosneft and Exxon Mobil with the kind of high technology that will be barred under US and European Union sanctions taking effect as soon as Friday.
Eni, Italy’s biggest oil company, said second-quarter profit rose 51%, boosted by the improved performance of its gas and power division and its services subsidiary Saipem.
Woodside Petroleum's plan to buy back shares from Shell for $2.7billion is at risk of being rejected by shareholders as it falls short of the votes needed to proceed.
UK's third largest gas producer BG Group said second-quarter earnings rose 23% after production from Brazil increased.
Centrica, grappling with an antitrust probe and the resignations of three senior managers, reported a 31% drop in first-half profit because of losses at its gas-fired power-generation business.
US oil giant ConocoPhillips has completed the sale of its Nigeria upstream business to Oando for $1.5billion.
SMA Solar Technology, Germany’s biggest solar company, said it may lose as much as $60million this year because of “stagnating” demand in the solar industry. Shares fell the most in seven months.
Irish explorer Tullow Oil reported a drop in revenues and profits for the first half of the year following exploration write-offs – but the company remains confident African exploration will pay off.
French oil giant Total stopped buying shares in Russian partner Novatek after the Malaysian Airline plane was downed in Ukraine, the company's chief financial officer has revealed.
Total is preparing a three-year, company-wide plan to cut costs after second-quarter profit fell 12% amid record low production and a slump in refining margins.
Talisman Energy announced a bumper second quarter as the firm continues its evolution towards becoming a two region company.
Power generation group APR Energy has recorded a 203% year-on-year increase in revenue for the second quarter of the year capitalising on high demand for electricity in Africa and the Middle East
Niger – focused Savannah Petroleum has announced it was looking to proceed with an initial public offering (IPO) and to apply for listing on the junior London Stock Exchange, the AIM.
British oil giant BP has reported a 34% rise in year-on-year profits for its second quarter of the year. The financial spike was driven by increased production and higher oil and gas sales prices.
Exxaro Resources Ltd. agreed to buy Total SA’s South African coal unit, the fifth-largest producer in the country, to gain expanded reserves and rights at the main export harbor for the fuel. Exxaro will acquire 100% of Total Coal South Africa Pty Ltd., known as TCSA, and settle all outstanding loan claims, the Pretoria-based company said in a statement today. The $472million cost of the deal includes the purchase of shares and an $85.5 million loan consideration.
Private-equity firm Intervale Capital LLC is working with Goldman Sachs Group Inc. to seek buyers for Proserv Group AS, a supplier of equipment for undersea oil drilling, according to people familiar with the matter.
HD camera manufacturer for the oil and gas sector EV Offshore has completed a £20million re-banking option with RBS as the company eyes further global expansion.
West Texas Intermediate crude traded near the lowest price in a week amid speculation that economic data may signal slowing growth in the US, the world’s biggest oil consumer. Brent declined in London. Futures were little changed in New York after losing 1% last week. A preliminary index of US service industries is forecast at 59.8 for July, the lowest level in three months, a Bloomberg News survey showed before a report from Markit Economics Ltd. today. The Federal Reserve is scheduled to review monetary policy at a two-day meeting starting tomorrow.
Net income at Russia’s biggest oil producer has increased five-fold year-on-year in the second quarter of 2014 as the company revs up its daily production figures.
Statoil, Norway’s biggest energy company, said profit fell 12% in the second quarter as production declined because of maintenance work and asset sales.
An axed contract in the UK North Sea wiped more than £11million off second quarter profits at US drilling contractor Diamond Offshore.
Spanish energy firm Repsol confirmed it was in talks over potential “transactions” with Talisman yesterday as analysts said it could be looking at buying assets rather than the whole company.
Repsol has countered stoppages due to rebel activity in Libya with production from new wells, according to its latest financial results.
Cairn India Ltd., operator of the nation’s biggest oil field on land, headed for its biggest drop in more than five years after a loan given to its parent raised investor concerns about the use of its cash reserves.
Oil majors tightening their budgeting belts and pressure to lower costs could take its toll on a service company's bottom line, according to Technip SA’s chief executive.