Malaysia’s Petronas reported on Tuesday that first-half net profits more than doubled on the back of higher oil and gas prices, but the state-backed energy company sees higher prices reversing next year as global supplies stabilise.
Australia’s Woodside Energy Group (ASX:WDS) has a range of capital expenditure options that cover a US$9 billion projected spend on oil and gas projects out to 2024 and another US$5 billion pencilled in for new energy projects by 2030.
Oil held the biggest gain in more than a month as traders weighed supply concerns, including the possibility of an OPEC+ output cut.
Woodside Energy Group, Australia’s biggest oil and gas producer, said first-half profit soared more than fivefold on the back of higher prices and the takeover of BHP Group’s energy assets.
Progress toward an Iranian nuclear deal has thrown the spotlight onto a sizeable cache of crude held by Tehran that could be swiftly dispatched to buyers in the event an agreement gets hammered out.
Sinopec posted record first-half profits as higher global oil and gas prices outweighed a mixed market for fuel in China.
Australian east coast energy prices skyrocketed earlier this year as a winter cold snap sent gas, coal, and electricity to record-highs, triggering price caps at A$40/Gigajoule (US$27/Million British Thermal Units), around 400% above the normal A$8-10/GJ price range.
PetroChina posted its best-ever first-half earnings as the nation’s top oil and gas driller benefited from soaring global energy prices, and said that government stimulus is starting to lift Chinese oil demand.
Rumours have surfaced again about ExxonMobil (NYSE:XOM) potentially seeking to divest its Indonesia assets. ExxonMobil operates the giant Cepu Block, which is Indonesia’s largest producing oil project.
Russia’s war in Ukraine has Europe bracing for a tough winter, but the costs are piling up higher in emerging nations as governments struggle to keep energy flowing to citizens hit by surging inflation.
Santos (ASX:STO) has put on hold plans for a final investment decision (FID) at its Dorado oil project offshore Western Australia as spiralling costs related to the construction of a floating production storage and offloading (FPSO) unit pose too much risk.
Keppel Offshore and Marine's (Keppel O&M's) (SGX:BN4) wholly owned subsidiary, Keppel Shipyard, has won an international tender from Brazil’s national oil company, Petroleo Brasileiro S.A (Petrobras), for the engineering, procurement and construction (EPC) of P-80, a floating production, storage and offloading vessel (FPSO) in a deal worth about US$2.9 billion.
Six oil and gas fields in the Gulf of Mexico have been shut after a leak at a Louisiana booster station halted two pipelines in the region.
An environmental group is claiming Equinor will pay millions of pounds less in tax if the North Sea Rosebank field gets the go ahead.
Oil headed for a punishing weekly loss on increasing evidence that a global economic slowdown is spurring demand destruction, with prices collapsing to the lowest level in six months.
Analysts reckon Jadestone Energy (LON:JSE) has its sights set on acquiring a bigger share of the producing North West Shelf oil fields offshore Western Australia that are currently operated by Woodside Energy (ASX:WDS). Ultimately, Singapore-based Jadestone will be seeking operatorship to maximise profitability, the analysts told Energy Voice.
Jadestone Energy has announced the acquisition of a 16.67% interest in the producing North West Shelf oil fields offshore Western Australia from BP. The deal is in line with the London-listed company’s strategy of acquiring low-cost barrels at less than US$3/barrel, while establishing an entry position into what it describes as a "very high-quality long-life asset with very low decline rates."
India is set to get more channels to buy cheap Russian oil, with a new wave of smaller, international traders muscling into its vast market by offering barrels shunned by rivals after the invasion of Ukraine.
An unprecedented energy crisis that’s gripping some of the most densely-populated and impoverished parts of South Asia may soon worsen as more fuel suppliers avoid selling oil to these nations.
Oil declined at the start of the week as concerns about an economic slowdown overshadowed signs of a tight physical crude market.
Australia’s Woodside Energy Group (ASX:WDS) today issued a clarification on full year 2022 production guidance after confusion reigned yesterday after it appeared that production guidance had been reduced by 4 million barrels of oil equivalent (boe) in yesterday’s trading update.
Oil is headed for a third weekly drop, the longest run of declines this year, on concerns over weaker US gasoline demand and a global slowdown.
Oil slipped back below $100 a barrel as investors assessed signs of lacklustre US gasoline demand and expanding stockpiles.
Chain National Offshore Oil Corporation (CNOOC) is offering 13 offshore exploration oil and gas blocks to foreign companies as part of its 2022 bidding round.
Oil held above $100 a barrel after posting the biggest one-day advance since May as fears of a fast-tightening market gripped traders.