Capital Budget Annoucements News


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Aramco Expects To Boost Capital Spending By About 10%
Thursday, November 09, 2017 Saudi Aramco expects to increase its capital spending budget by almost 10% in its next financial year.

ConocoPhillips Vows Financial Discipline As Aims To Boost Output
Wednesday, November 08, 2017 ConocoPhillips says it will boost output over the rest of the decade but vowed to do so only when it was financially prudent.

Exxon Mobil Plans $200 Mln Investment in Argentina's Vaca Muerta
Friday, September 01, 2017 The company reportedly has asked the government of Neuquen province for a 35-year unconventional production concession.

Canadian Natural Resources Profit Tops Estimates; Cuts CAPEX
Thursday, August 03, 2017 Canadian Natural Resources posts a higher quarterly profit that topped estimates.

Marathon Oil Cuts Capital Budget After Posting Quarterly Loss
Wednesday, August 02, 2017 Marathon Oil Corp cuts its 2017 capital budget after posting a quarterly loss that fell in line with Wall Street's expectations.

Despite Cuts in CAPEX & Revenue, Silver Linings Exist for US Oil, Gas
Wednesday, August 02, 2017 A new EY study reveals opportunities still exist for US oil and gas, despite a year of declines.

Devon Energy Trims Full-Year Spending
Tuesday, August 01, 2017 Devon Energy trims its full-year exploration spending by $100 million, joining a growing list of US shale producers.

EOG Resources Profit Disappoints, But Sticks By CAPEX
Tuesday, August 01, 2017 EOG Resources Inc posted a lower-than-expected quarterly profit.

Aramco to Spend $300 Billion as CEO Frets About Oil Supplies
Tuesday, July 11, 2017 Saudi Aramco, which plans what could be the world's biggest initial public offering, will invest more than $300 billion over the next decade to maintain its spare oil-production capacity and explore for more natural gas.

Saudi Aramco to Spend $18B on Growth in the Americas -Motiva
Friday, May 26, 2017 Motiva called the $18 billion estimate "a general framework of opportunities."

Saudi Aramco Plans Up to $30B Investment in Motiva by 2023
Wednesday, May 24, 2017 Motiva's Port Arthur facility is already the largest refinery in the United States.

Vietnam's Sole Refinery Plans to Sell 5-6 Pct Stake in IPO in Q4
Monday, May 22, 2017 Vietnam's Dung Quat oil refinery plans to sell a 5-6 percent stake in the company in the fourth quarter of 2017 via an initial public offering (IPO), it said in a statement.

Exxon Says to Open Gas Stations in Mexico, Invest $300 Million
Wednesday, May 17, 2017 Exxon expects to open its first service stations in Mexico later this year.

China's Norinco and Saudi Aramco Line Up $10B Refinery Plan
Tuesday, May 16, 2017 The investment would boost Aramco's presence in China's massive refining industry.

Petrobras Sees Room For More Efficient Payroll, CAPEX
Friday, May 12, 2017 Petrobras has room to improve the efficiency of its investments and payroll spending, executives say.

Aker Completes More Than Two-Thirds of Cost-Cutting Program
Tuesday, May 09, 2017 Aker Solutions ASA revealed that it has completed more than two-thirds of a program to increase cost-efficiency across its business by at least 30 percent by the end of 2017.

Encana Boosts Capital Spending By 50% Amid Oil Recovery
Thursday, February 16, 2017 Encana reports a better-than-expected quarterly operating profit, helped by a cash tax recovery.

Singapore Banks' Sour Loans In Focus As Oil Service Sector Stresses
Friday, February 10, 2017 Singapore's DBS Group Holdings and smaller rival United Overseas Bank are set to report their lowest quarterly profit in at least 2 years, hurt by loans provisions for the oil services sector.

Singapore Banks' Sour Loans In Focus As Oil Service Sector Stresses
Friday, February 10, 2017 Singapore's DBS Group Holdings and smaller rival United Overseas Bank are set to report their lowest quarterly profit in at least 2 years, hurt by loans provisions for the oil services sector.

Statoil Targets Cost Savings of $1B in 2017
Tuesday, February 07, 2017 Statoil ASA is targeting cost savings of $1 billion in 2017, which comes in addition to the $3.2 billion it has already cut as part of its improvement program.

China's Oil Majors Set To Lift CAPEX For First Time In Years
Thursday, January 26, 2017 China's oil majors are expected to pump up spending in 2017 for the first time in years, scrambling to squeeze more barrels of crude out of ageing domestic wells in the hope that higher prices are here to stay.

China's Oil Majors Set To Lift CAPEX For First Time In Years
Thursday, January 26, 2017 China's oil majors are expected to pump up spending in 2017 for the first time in years, scrambling to squeeze more barrels of crude out of ageing domestic wells in the hope that higher prices are here to stay.

Rig Builder Lamprell Sees Lower Revenue, To Tighten Purse Strings
Monday, January 23, 2017 Oil-rig builder Lamprell Plc says it will continue to maintain a tight rein on costs as it stuck to its guidance of lower 2017 revenue and pointed to a "particularly cautious environment" for the year ahead.

Lundin's Development Expenditure to Top $1B in 2017
Thursday, January 19, 2017 Lundin's development expenditure in 2017 will total $1.095 billion.

Hess To Spend More On Exploration And Production This Year
Thursday, January 12, 2017 Hess budgets $2.25 billion for exploration and production this year, higher than the $1.9 billion it spent in 2016.

Encana On Track To Exceed 2017 Budget Plan
Wednesday, January 04, 2017 Encana met its projected 2017 operations activity and rig count in December, building momentum for its five-year plan, CEO Doug Suttles says.

China's Top Oilfield to Cut CAPEX by 20% in 2017
Thursday, December 29, 2016 China's largest oilfield, Daqing, will slash capital spending in 2017 by 20% compared to the previous year.

Husky Ups 2017 CAPEX, Output Forecasts; Cuts Sunrise Outlook
Tuesday, December 13, 2016 Husky Energy raises its 2017 production forecast and capital expenditure program.

Maersk to Limit Investment in Energy Businesses until Separation
Tuesday, December 13, 2016 Maersk will limit investment in its energy businesses until they are separated, the group's CEO Soren Skou said in a webinar from the company's Capital Markets Day event.

Maersk to Limit Investment in Energy Businesses until Separation
Tuesday, December 13, 2016 Maersk will limit investment in its energy businesses until they are separated, the group's CEO Soren Skou said in a webinar from the company's Capital Markets Day event.

Maersk to Limit Investment in Energy Businesses until Separation
Tuesday, December 13, 2016 Maersk will limit investment in its energy businesses until they are separated, the group's CEO Soren Skou said in a webinar from the company's Capital Markets Day event.

Chevron Plans $19.8B Capital, Exploratory Budget for 2017
Thursday, December 08, 2016 Some $11.6 billion of Chevron's $19.8-billion capital spending plan will target international upstream projects.

Gas Producer Santos Needs to Impress as China's ENN Eyes Strategy
Sunday, December 04, 2016 Australian gas producer Santos is expected this week to outline its strategy to pay down debt and cope with weak oil and gas prices.

Russia's Rosneft Approves 1 Trillion Rouble Bond Program
Thursday, November 24, 2016 The board of Russia's largest oil producer Rosneft has approved a bond program worth 1.071 trillion roubles ($16.55 billion) for 10 years.

IEA Expects Oil Investment To Fall For Third Year In 2017
Thursday, November 24, 2016 Investment in new oil production is likely to fall for a third year in 2017 as a global supply glut persists.

PGS Raises Funds Through Private Placement
Wednesday, November 23, 2016 Norwegian seismic explorer Petroleum Geo-Services ASA announced Wednesday that it has raised approximately $225 million through a placement of 85,500,000 new shares.

Venezuela PDVSA Says In Grace Period For 2035 Bond
Tuesday, November 22, 2016 PDVSA confirms it is using a 30-day grace period for coupon payments on its 2035 bond, but said a JP Morgan report of payment delays on other bond issues was wrong.

Armour Energy Agrees Investment Terms
Monday, November 21, 2016 Armour Energy Limited agrees terms with M.H. Carnegie & Co Pty Ltd for a staged investment of up to $17.5 million worth of convertible notes.

Premier Oil Agrees New Lending Terms In Exchange For Say In Projects
Thursday, November 17, 2016 Premier Oil pushes back its refinancing deal to 1Q 2017, but says lenders had largely agreed to new terms in exchange for some control over which projects the company can invest in.

Rig Firm Seadrill Postpones Deadline On $9 Billion Debt Restructuring
Wednesday, November 16, 2016 Oil drilling rig operator Seadrill has again postponed a deadline for restructuring its $9 billion debt, the company says.

Lukoil Raises $500M to Finance Gissar Project in Uzbekistan
Wednesday, November 16, 2016 Lukoil raises $500 million to finance the development of the Gissar group's gas condensate fields in Uzbekistan.

Tullow Cuts FY Capital Budget, West African Production Forecast
Wednesday, November 09, 2016 Tullow Oil Plc slashes full-year spending budget and lowers the forecast for its oil production in West Africa, as it seeks to weather an oil price slump.

Eni to BP CEOs Limit Oil Spending for 2017 to Cope With Glut
Monday, November 07, 2016 The biggest international oil companies are reining in capital spending for 2017 and possibly longer as they try to squeeze profits from a crude market battered by a global glut.

Eni to BP CEOs Limit Oil Spending for 2017 to Cope With Glut
Monday, November 07, 2016 The biggest international oil companies are reining in capital spending for 2017 and possibly longer as they try to squeeze profits from a crude market battered by a global glut.

Eni to BP CEOs Limit Oil Spending for 2017 to Cope With Glut
Monday, November 07, 2016 The biggest international oil companies are reining in capital spending for 2017 and possibly longer as they try to squeeze profits from a crude market battered by a global glut.

European Oil, Gas Companies Looking to Cut Costs Further
Monday, October 31, 2016 European oil and gas firms Eni, Total and Statoil all revealed in their latest financial results that they are looking to cut costs due to the continued low oil price environment.

European Oil, Gas Companies Looking to Cut Costs Further
Monday, October 31, 2016 European oil and gas firms Eni, Total and Statoil all revealed in their latest financial results that they are looking to cut costs due to the continued low oil price environment.

European Oil, Gas Companies Looking to Cut Costs Further
Monday, October 31, 2016 European oil and gas firms Eni, Total and Statoil all revealed in their latest financial results that they are looking to cut costs due to the continued low oil price environment.

European Oil, Gas Companies Looking to Cut Costs Further
Monday, October 31, 2016 European oil and gas firms Eni, Total and Statoil all revealed in their latest financial results that they are looking to cut costs due to the continued low oil price environment.

Husky Energy Cuts 2016 CAPEX For Second Time Amid Oil Slump
Thursday, October 27, 2016 Husky Energy reports a bigger-than-expected quarterly loss and joins larger rival Cenovus Energy in trimming its capital budget for the year.