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Profit At China's Sinopec Slumps 21.6% In First Half
Monday, August 29, 2016 China Petroleum and Chemical Corp., or Sinopec, says its net profit fell 21.6 percent in the first half of 2016, hurt by a steep decline in international oil prices.
Bumi Armada's 2Q Revenue Falls 12.2% to $99.7M as FPSO, FGS Incomes Dip
Monday, August 29, 2016 Malaysia's Bumi Armada posts a revenue of $99.7 million in the second quarter of 2016, down 12.2 percent from a year ago, as contributions from its floating production storage and offloading (FPSO) and floating gas solutions (FGS) units declined.
San Leon Raises Funds for OML 18 Interest Acquisition
Friday, August 26, 2016 San Leon Energy plc raises $221.4 million through an issue of 378,400,000 new ordinary shares, the net proceeds of which will be used to secure a 9.72% interest in OML 18.
Kerogen Capital Raises $830M In Second Energy Fund
Friday, August 26, 2016 Private equity firm Kerogen Capital secures $830 million in its second energy fund, taking its total assets under management to over $2 billion since inception.
Seadrill Says Oil Industry May Be Turning As 2Q Beats Forecast
Thursday, August 25, 2016 Seadrill says the oil industry may be turning a corner as it posts Q2 earnings above forecasts.
Russia's Gazprom Neft Q2 Net Profit At 48.9B Rbls
Thursday, August 25, 2016 Gazprom Neft, one of Russia's top oil producers, made a net profit of $752 million in Q2.
China Oil Giants Unmoved By Bull Rally After Worst Earnings
Thursday, August 25, 2016 After posting their worst-ever half-year results, two of China's oil giants aren't getting carried away by crude's return to a bull market, forecasting a rocky path ahead.
China's CNOOC Swings To H1 Loss, Punished By Weak Oil, Gas Prices
Wednesday, August 24, 2016 CNOOC Ltd swings to a loss in the first half of 2016 as revenue sank almost by a third because of lower crude oil and natural gas prices.
Petrochina Profits Sink As Weak Prices, Oversupply Bite
Wednesday, August 24, 2016 PetroChina Co Ltd reports sharply lower profits for the first half of the year, hit by slowing demand growth for refined products, an oversupply of crude and weak prices.
Indonesia's Aneka Gas Industri Targets $75M In IPO
Monday, August 22, 2016 Indonesian gas producer PT Aneka Gas Industri sets its initial public offering price range at 1,000-1,290 rupiah per share.
Malaysia's Petronas Q2 Profit Falls 85% On Low Oil Prices, Impairments
Monday, August 22, 2016 Petronas says its net profit fell 85% in Q2 due to low crude oil prices and a jump in impairment charges.
Russia's TMK Says Q2 Net Profit Rises To $57M
Friday, August 19, 2016 TMK, Russia's largest maker of steel pipes for the oil and gas industry, says its Q2 net profit rose to $57 million from $47 million in the same period of last year.
Woodside, Santos Profits Slump, Focus On Cost Cuts
Friday, August 19, 2016 Weak oil and gas prices hammered half-year profits at Australia's Woodside Petroleum and Santos Ltd, but investors sent their shares higher as both companies report progress on cost-cutting.
Premier Oil Reaps $250M Brexit Windfall From Weak Pound
Thursday, August 18, 2016 Premier Oil has saved about $250 million thanks to the depreciation of the British pound following the country's vote to leave the European Union.
Origin Energy's Full-Year Profit Drops 41% Amid Energy Slump
Thursday, August 18, 2016 Origin Energy's full-year earnings fell 41 percent, missing expectations, as the power producer said it won't pay a final dividend as it seeks to further reduce debt amid the energy price slump.
Weak Oil Prices Hurt Wood Group's First-Half Core Earnings
Tuesday, August 16, 2016 Oilfield services company John Wood Group Plc reports a 26.3% fall in first-half core earnings, hurt by weak demand from oil and gas producers.
BHP Billiton Books Record Loss, Says Commodity Price 'Free Fall' Over
Tuesday, August 16, 2016 BHP Billiton reports a record $6.4 billion annual loss, hammered by a bad bet on shale, a dam disaster in Brazil and a commodities slump.
Singapore's KrisEnergy Warns Debt Covenants May Come Under Stress
Monday, August 15, 2016 Singapore oil and gas exploration firm KrisEnergy Ltd says some covenants on existing debt agreements could come under stress in the near term as weaker oil markets hit revenue.
Maersk Q2 Net Profit Lags Forecast, Keeps Full-Year Profit Outlook
Friday, August 12, 2016 A.P. Moller-Maersk kept its downbeat 2016 profit forecast on Friday as the Danish shipping and oil giant reported net profit way under expectations.
Petrobras' Profit Declines On Lower Prices, Charges
Friday, August 12, 2016 Petrobras reports second-quarter profit that fell by nearly a third from a year earlier, missing analysts' expectations.
Malaysia's Nam Cheong Posts 2Q 2016 Revenue of $29.2M, Down 39% YOY
Thursday, August 11, 2016 Malaysia's Nam Cheong posts a revenue of $29.2 million in the June 2016 quarter, down 39 percent from last year's $47.9 million.
UAE's Dana Gas Profit Flat, Bond Gain Helps Offset Oil Price Fall
Thursday, August 11, 2016 Dana Gas reports flat second-quarter profit as low oil and gas prices were partly offset by a gain on the buy-back of an Islamic bond.
Kazakh KMG EP H1 Profit Soars On Weak Tenge
Thursday, August 11, 2016 The net profit of Kazakh oil producer KazMunaiGas Exploration and Production (KMG EP) rises to 17.2 billion tenge ($50 million) from 2.9 billion tenge in the same period of 2015.
Weak Oil Pushes SBM Offshore To Axe More Jobs
Wednesday, August 10, 2016 SBM Offshore's first-half results lagged analysts' expectations as challenging conditions persisted in the oil industry.
Abu Dhabi's TAQA Q2 Net Loss Widens To $160M
Wednesday, August 10, 2016 TAQA reports a wider Q2 net loss as low oil prices continue to weigh on its earnings.
Amec Foster Posts H1 Loss Hit By Charges
Tuesday, August 09, 2016 Amec Foster Wheeler Plc reports a first-half pretax loss, hurt by restructuring charges on its oil and gas business in the Americas and impairment charges in its global power group business.
Cosco Incurs $27M Net Loss in 2Q 2016, Revenues Fell 11% to $566M
Monday, August 08, 2016 China’s Cosco incurs a net loss of $27.3 million in the second quarter of 2016, while revenue falls 11 percent to $565.9 million, with the decline attributed to lower contributions from its shipyard and shipping operations.
Fugro to Cut Hundreds of Jobs, Sell APAC Business Unit due to Oil Glut
Thursday, August 04, 2016 Following a decline of reported revenues for 1H 2016, Fugro implements more cost-cutting measures to deal with difficult oil and gas environment.
EOG Swings To 2Q Loss But Says To Ramp Up Well Fracking This Year
Thursday, August 04, 2016 EOG Resources swings to a second-quarter net loss.
Canadian Natural Resources Reports Smaller Quarterly Loss
Thursday, August 04, 2016 Oil and natural gas producer Canadian Natural Resources Ltd reports a smaller quarterly loss as lower expenses help offset a slump in crude prices.
DONG Energy Disappoints With First Results Since IPO
Thursday, August 04, 2016 DONG Energy's maiden results as a listed company failed to live up to market expectations due to low wind levels and weak oil and power prices, sending its shares down by as much as 4.2%.
Transocean Posts Unexpected Profit Thanks To More Cost Cuts
Thursday, August 04, 2016 Transocean surprises analysts by slashing its way to profitability in the second quarter as the world's largest owner of offshore rigs tries to keep up with dwindling drilling demand from explorers.
Marathon Oil Quarterly Loss Shrinks On International Output
Wednesday, August 03, 2016 Marathon Oil says its quarterly loss shrank, beating Wall Street's expectations, as international oil production helped offset declines in US output.
Continental Resources Posts Wider Loss On Oil Price Slump
Wednesday, August 03, 2016 Continental Resources posts a quarterly loss that missed Wall Street's expectations because of the slump in crude prices.
POSH Posts $17.5M Net Loss in 2Q 2016, Revenue Dips 35% to $46.1M
Wednesday, August 03, 2016 Singapore-based PACC Offshore Services Holdings (POSH) posts a net loss of $17.5 million for the second quarter of 2016, down from a net profit of $6.1 million a year ago.
Devon Energy Posts Surprising Adjusted Profit On Cost Cuts
Tuesday, August 02, 2016 Devon posts an unexpected adjusted quarterly profit and narrows its net loss.
Rig Contractor Diamond Offshore Posts Quarterly Loss
Monday, August 01, 2016 Rig contractor Diamond Offshore Drilling Inc posts a quarterly loss, compared with a year-earlier profit, hurt by a $612 million impairment charge.
CNOOC Warns Of $1.2B Loss Amid Oil Sands Writedown
Friday, July 29, 2016 CNOOC Ltd., China's biggest offshore oil and gas producer, projects about $1.2 billion in first-half losses, flipping from a profit a year ago, as it took a charge on its Canadian oil sands assets.
Eni Swings To Net Loss In Second Quarter
Friday, July 29, 2016 Italian oil group Eni swung to a net loss in the second quarter on lower oil prices and a production shutdown at a key field in southern Italy, missing expectations.
Sembcorp Marine's 2Q 2016 Net Profit Falls 90% to $8.1M
Friday, July 29, 2016 Sembcorp Marine's net profit falls sharply in the second quarter of 2016, down 90 percent to $8.1 million, compared to $80.7 million last year.
Thailand's PTTEP Q2 Profit More Than Doubles, Beats Forecast
Thursday, July 28, 2016 PTT Exploration and Production, Thailand's largest oil and gas explorer, says its quarterly net profit more than doubled, helped by lower expenses.
Shell Misses Expectations As Earnings Plunge On Oil, BG Costs
Thursday, July 28, 2016 Royal Dutch Shell missed quarterly profit expectations by more than $1 billion after reporting a 72% plunge in earnings due to weak oil prices and high costs following its $54 billion takeover of BG Group.
Strong Upstream Performance from European Majors
Thursday, July 28, 2016 French and Spanish oil majors Total and Repsol deliver second-quarter results that display a strong performance from their upstream operations.
Anadarko's Loss Smaller Than Expected as Cost Cuts Help
Wednesday, July 27, 2016 Oil and gas producer Anadarko Petroleum Corp reported a smaller-than-expected quarterly loss as it cut costs to counter a prolonged slump in crude prices.
Statoil Second Quarter Lags Forecasts, Cuts 2016 Capex Outlook
Wednesday, July 27, 2016 Norway's Statoil cuts its 2016 capital spending guidance as it posts earnings well below forecasts.
Tullow Returns to Profit as Cost Cuts, Hedging Pay Off
Wednesday, July 27, 2016 Africa-focused Tullow Oil returns to profit in the first half of the year despite weaker oil prices and lower production.
Oil Producer Hess Reports Smaller Loss, Cuts Budget
Wednesday, July 27, 2016 U.S. oil producer Hess Corp reports a smaller-than-expected quarterly loss, helped by its efforts to keep costs low, and the company further cut its exploration and production budget for the year.
Fracker Pioneer Posts Wider Second-Quarter Loss on Derivatives
Wednesday, July 27, 2016 U.S. oil producer Pioneer Natural Resources Co posted a second-quarter net loss that widened from a year earlier on $229 million in losses on derivatives it uses to insulate its revenues from volatile oil prices.
Whiting Petroleum Loss More Than Doubles
Wednesday, July 27, 2016 Whiting Petroleum Corp, North Dakota's largest oil producer, posted a worse-than-expected quarterly loss as production fell and crude prices dropped.
BP Draws Line under Deepwater Horizon Liabilities
Tuesday, July 26, 2016 BP draws a line under its Deepwater Horizon liabilities, with a final estimate of $61.6 billion, as the firm targets growth with a new wave of upstream major project start-ups.
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