Hurricane Energy enjoys 10-fold surge in profits ahead of Prax takeover
The CEO of Hurricane Energy (LON: HUR) has described its performance in 2022 as “both very challenging and a highly successful” as it made $113.6 million before tax.
profits
Chevron to buy back $75bn in stock after record profit
Chevron plans to buy back $75 billion of shares and increase dividend payouts after a year of record profits that evoked angry denunciations from politicians around the world as soaring energy prices squeezed consumers.
Malaysia’s Petronas doubles profits as oil and gas markets remain volatile
Malaysia’s Petronas has reported a near doubling of its third quarter profit and warned of continuing volatility in oil and gas prices on Wednesday.
Cnooc’s profits surge again as higher oil prices persist
Cnooc Ltd said that net income probably more than doubled in the first nine months of the year, as China’s biggest offshore oil and gas driller continues to reap the benefit of higher energy prices.
Woodside profit surges fivefold on gas prices, BHP merger
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.
Sinopec posts record first-half profits on rising oil prices
Sinopec posted record first-half profits as higher global oil and gas prices outweighed a mixed market for fuel in China.
PetroChina’s profits climb to record on global energy rally
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.
China’s Cnooc more than doubles profits on higher oil prices
Cnooc Ltd more than doubled its first half profits from a year ago as China’s biggest offshore driller benefited from sky-high oil and gas prices.
van Beurden defends record Shell profits in face of soaring energy bills
Ben van Beurden has claimed high oil and gas prices aren’t the sole reason for Shell (LON: SHEL) posting record for profits for the second quarter in a row.
Subsea 7 back in profits with ‘significantly higher activity’
Subsea 7 was back in profits with a surge in revenues in the third quarter amid “significantly higher activity”.
Neptune Energy back to profits after oil and gas price rally
Stronger oil and gas prices brought North Sea operator Neptune Energy back to profits in the first half of 2021.
Saudi Aramco follows Big Oil rivals with surge in profits
Saudi Aramco followed its Big Oil competitors with bumper earnings, boosted by a recovery in oil and chemical prices.
HMRC launches new Profit Diversion Compliance Facility
On 10 January 2019, HMRC launched a new Profit Diversion Compliance Facility (PDCF) aimed at multinational enterprises who have used cross-border arrangements that HMRC considers may result in an artificial reduction in UK profits, including arrangements targeted by the Diverted Profits Tax (DPT) legislation.
Orion Engineering Services revenue down on low oil price
A company which supplies agency staff for offshore work has seen a drop in its revenue and profits.
Suttie businesses makes £405
Two business controlled by multimillionaire Aberdeen businessman Ian Suttie have reported plummeting profits amid the global oil and gas downturn.
Bristow profits slashed by slump in offshore flights
A slump in demand for North Sea offshore flights has hit Bristow Helicopter’s bottom line although sales were underpinned by its contract to run emergency search and rescue (SAR) services for the British government.
Maersk Oil profit sank 86% last quarter as energy prices plunge
A.P. Moeller-Maersk A/S, Denmark’s biggest company, said profit at its oil unit dropped 86 percent in the third-quarter as energy prices fell. Maersk Oil’s net operating income after tax for the three months through September was $32 million, down from $222 million in the same period a year earlier, the Copenhagen-based company said in a statement on Friday.
Sinopec’s profit drops 92%
China Petroleum & Chemical Corp.’s third-quarter profit plummeted 92 percent as lower oil prices and production dwarfed an increase in refining revenue. Net income at Asia’s biggest refiner, known as Sinopec, was 1.64 billion yuan ($258 million), or 0.013 yuan a share, compared with 19.3 billion yuan, or 0.165 yuan, a year earlier, the Beijing-based company said in a statement to the Shanghai Stock Exchange on Thursday. That compares with the 4.27 billion yuan average of three analyst estimates compiled by Bloomberg. Higher refining revenue was swamped by a drop in oil prices. Brent, the benchmark for more than half of the world’s crude, averaged about $51 a barrel in the third quarter, compared with more than $103 a year ago.
Hunting profit and headcount hit by oil drop
Hunting has seen a drop in revenue from $664.1million to $463.6million in the first half of the year. The international energy services group said its operations had been impacted by the downturn in the oil and gas market. The decline has seen a reduction in headcount of 900 employees which has resulted in savings of $41million.
Santos first-half profit declines 82% amid oil price collapse
Santos Ltd., Australia’s third-largest oil and gas producer, posted an 82 percent slump in first-half profit after a fall in oil prices. Net income fell to A$37 million ($27 million) in the six months ending in June, from A$206 million a year earlier, the Adelaide-based company said Friday in a statement. That compared with an estimate of A$41 million from Macquarie Group Ltd.
DNO profits and production boosted in second quarter
DNO saw a profits boost in the second quarter of the year up from the previous three months. The Norwegian oil and gas operator said there had been an increase from $26million to $55million while its net loss was $40million for the second quarter. The company has also hit record production levels from the Tawke field in the Kurdistan Region of Iraq with output averaging 153,346 barrels of oil per day (bopd).
Profits slump at Thailand’s flagship oil company
Thailand's largest oil and gas explorer PTT Exploration and Production PCL (PTTEP), has reported second quarter profits slumped 94%, dragged by a fall in revenue, and foreign exchange and oil hedging losses.
Baker Hughes posts loss compared with 2014 profit
Baker Hughes has posted a quarterly loss compared with its profit one year ago. A decline in oil prices has kept a lid on drilling activity for the company, which was bought over by Halliburton last year. Baker Hughes said net loss attributable was $188million - or 43 cents a share - in the second quarter of 2015.
Halliburton signs $500million joint venture deal with BlackRock
Halliburton has signed a joint venture with BlackRock for $500million to help fund drilling of existing shale wells in the US. The decision is the first such move by a major oilfield services provider at a time when oil producers have been shying away from drilling new wells. Halliburton has said it expects to see an “uptick” in activity – including refracking – later this year and a meaningful recovery in 2016.
GDF Suez posts 10% drop in profits
French gas and power group GDF Suez has posted a 10% drop in profits. The company, which posted its first-quarter results, said the fall had been in relation to lower gas prices and the outage of two Belgian nuclear plants. Quarterly earnings before interest, tax, depreciation and amortisation (EBITDA) stood at $3.9billion - down from $4billion a year previously.