i3 Energy doubles quarterly production on Canadian expansion
UK and Canada-focused independent i3 Energy has seen quarterly production double that of last year, as it looks to invest further capital in its Canadian drilling programme.
Q1 2022 results
Shell weathers ‘volatile times’ to post record profits despite Russia blow
Shell (LON: SHEL) reported its best ever quarterly results on Thursday despite suffering a hefty blow over its exit from activities in Russia.
Equinor suffers $1.08bn impairment on Russia exit
Equinor is to increase its share buybacks after posting “strong financial results” for the first quarterof 2022.
Valaris slides to Q1 loss amid rising reactivation costs
Valaris (NYSE:VAL) has reported net losses of $40 million for the first quarter, as improved jack-up utilisation failed to tip the company back into profitability.
Mitsui & Co. profit hits record, to stay involved in Russian gas
Japanese trading giant Mitsui & Co. nearly tripled its full-year profit to an all-time high on soaring energy and commodity prices, and said the company will keep its involvement in liquefied natural gas projects in Russia.
BP, Shell to count cost of Russian exit but record cash flow set to continue
Next week will see supermajors BP and Shell publish results for one of the most turbulent quarters in recent memory, as they each look to reconcile continued bumper cash flows with the write-down of Russian investments.
Subsea 7 posts Q1 loss as Covid costs continue
Offshore contractor Subsea 7 reported a pre-tax loss of nearly $28 million for the first quarter of 2022 as Covid-related costs continued to bite, but looked to “several large awards” on the horizon later in the year.
Schlumberger hails strong services outlook on profitable Q1
Oilfield services giant Schlumberger reported pre-tax profits of $638 million for the first quarter of 2022, as it hailed “one of the strongest outlooks for the energy services industry in recent times.”
Halliburton takes $22m hit on Ukraine writedown
Halliburton reported pre-tax profits of $332 million for the first quarter of 2022, but took impairments on assets and receivables in the wake of the war in Ukraine.
Shell expects $5bn write down on Russian exit
Shell has begun to quantify the cost of its exit from Russia in an update ahead of its Q1 2022 results.
Exxon flags biggest profit in 13 years due to surging oil prices
Exxon Mobil signaled its highest profit since 2008 as Russia’s war in Ukraine upended global commodity markets.