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SLB-Backed Arabian Drilling Planning Saudi IPO Share your comments
Tuesday, May 04, 2021Arabian Drilling Co is preparing an initial public offering that could give it a valuation of around $2 billion, according to people familiar with the matter.

Exxon Earns $2.7B in First Quarter Share your comments
Monday, May 03, 2021Exxon Mobil Corporation (NYSE: XOM) has announced estimated first quarter 2021 earnings of $2.7 billion.

Chevron Posts Bumper Cash Flow Share your comments
Friday, April 30, 2021Chevron Corp. generated the most free cash flow since the pandemic emerged as economies clawing their way out of more than a year of lockdowns and paralysis burn more fuel.

Shell Profit Surges More Than Expected Share your comments
Thursday, April 29, 2021Royal Dutch Shell Plc took the opportunity to pay down its heavy debt burden as profit surged by more than expected in the first quarter.

Total Profit up to Pre-Pandemic Levels Share your comments
Thursday, April 29, 2021Total SE's profit surged by more than expected in the first quarter, making it the latest oil major to see earnings return to pre-pandemic levels.

Big Oil Sees Cash Rolling In Share your comments
Monday, April 26, 2021After one of the most difficult years in the oil industry's history, crude prices have recovered and major producers are finally generating spare cash.

Petrofac Agrees $700MM Facility Extensions Share your comments
Thursday, April 08, 2021Petrofac announced Wednesday that it has extended $700 million of its banking facilities, at its request, with the unanimous support of lenders.

Shell to Make First Oil Output Profit Since Pandemic Share your comments
Wednesday, April 07, 2021Royal Dutch Shell Plc said it expects to make the first profit from pumping oil since the start of the pandemic.

BP Reaches Debt Goal Early Share your comments
Tuesday, April 06, 2021BP Plc said it already achieved its $35 billion net-debt target, reaching the threshold at which it has said it can restart share buybacks about a year earlier than expected.

Aramco Up as Saudis Prioritize Spend Over Dividend Share your comments
Wednesday, March 31, 2021Saudi Aramco rose the most in 10 months in Riyadh trading after the government allowed it to cut dividends and redirect the cash into new investments to fulfill the crown prince's economic plans.

California Driller Reaped Gains from Texas Freeze Share your comments
Friday, March 19, 2021California's largest oil producer emerged as the latest financial winner from last month's historic Texas freeze that left millions without heat or electricity for days.

McDermott Invests in Lummus Technology Share your comments
Wednesday, March 10, 2021McDermott International Ltd has announced that it has invested in Lummus Technology Holdings I LLC, which is a holding company of Lummus Technology.

CVX Invests in Geothermal Development Co Share your comments
Tuesday, March 02, 2021Chevron Corporation (NYSE: CVX) has announced an investment in Baseload Capital AB.

Oil Benchmark Revamp Sees Opaque Swaps Trading Surge Share your comments
Thursday, February 25, 2021A planned overhaul of how the world's most important benchmark crude price is calculated has caused a surge in trading of swaps used to hedge North Sea oil prices.

Big Oil Posts Record Loss in 2020 Share your comments
Tuesday, February 23, 2021The five integrated supermajors – ExxonMobil (NYSE: XOM), BP (NYSE: BP), Shell (NYSE: RDS.A), Chevron (NYSE: CVX), and Total (NYSE: TOT) – posted a combined record loss of $76 billion in 2020.

Eni Reports Surprise Quarterly Profit Share your comments
Friday, February 19, 2021Eni SpA posted a surprise fourth-quarter profit as crude prices began to recover and the contribution of low-carbon businesses helped offset the impact of the coronavirus pandemic.

Chesapeake Energy Emerges from Chapter 11 Share your comments
Thursday, February 11, 2021Chesapeake Energy Corporation (NASDAQ: CHK) has announced that it has successfully concluded its restructuring process and emerged from Chapter 11.

Total Beats Earnings Estimates Share your comments
Tuesday, February 09, 2021Total SE bucked the trend of a disappointing fourth quarter for Big Oil, reporting earnings that exceeded expectations and pledging more cash for cleaner energy.

Shell Deepens Big Oil Disappointment Share your comments
Thursday, February 04, 2021Royal Dutch Shell Plc deepened the disappointment of Big Oil's fourth quarter, reporting net income that fell short of expectations and weak cash flow.

Big Oil Has Barely Begun Covid Recovery Share your comments
Tuesday, February 02, 2021BP Plc offered more evidence that Big Oil has barely begun to heal the wounds from last year's historic slump.

MBS Sees More Aramco Share Sales to Boost PIF Share your comments
Friday, January 29, 2021Saudi Aramco will sell more shares as part of the kingdom's plan to boost the size of its sovereign wealth fund to $1.1 trillion by 2025, according to Saudi Crown Prince Mohammed bin Salman.

Total Issues Hybrid Bonds to Finance Ren Strategy Share your comments
Thursday, January 28, 2021Total SE (NYSE: TOT) has revealed that it has successfully issued perpetual subordinated bonds in the amount of $3.6 billion (EUR 3 billion).

Diamond Offshore Announces Restructuring Plan Share your comments
Tuesday, January 26, 2021Diamond Offshore Drilling enters into a deal with holders of over 70 percent of each of its senior unsecured notes and revolving credit facility loans regarding a financial restructuring transaction.

Investors Flock Back into Oil Share your comments
Tuesday, January 19, 2021Investors and oil companies are rushing back into the crude market.

Andurand Hedge Fund Soars 154 Percent in 2020 Share your comments
Tuesday, January 05, 2021Pierre Andurand's oil hedge funds stormed back in 2020 to post their biggest-ever gains as the global pandemic roiled energy markets.

Exxon Signals 4th Consecutive Loss Share your comments
Thursday, December 31, 2020Exxon Mobil Corp, which is struggling to maintain a $15 billion-a-year dividend program, indicated it incurred a fourth straight quarterly loss.

India Asked to Pay $1.2B to Cairn Share your comments
Wednesday, December 23, 2020India has been ordered to return over $1.2 billion to Cairn Energy Plc after Prime Minister Narendra Modi's administration lost arbitration proceedings in a tax dispute.

ADNOC Launches 2nd Trading Arm Share your comments
Sunday, December 13, 2020The Abu Dhabi National Oil Company has officially launched its second trading arm, ADNOC Global Trading.

Aramco Hires Moelis to Raise $Bs from Asset Sales Share your comments
Friday, December 11, 2020Saudi Arabia is looking to emulate neighboring Abu Dhabi by using its state energy firm to raise billions of dollars from investors.

Egypt Buys Oil Hedge to Lock in Gains Share your comments
Wednesday, December 09, 2020Egypt has bought more derivative contracts to protect itself against a rise in oil costs, as some importers seek to take advantage of this year's price rout.

Seadrill Partners Files Chapter 11 Share your comments
Wednesday, December 02, 2020Seadrill Partners LLC announced Tuesday that it has filed voluntary petitions under chapter 11 of the Bankruptcy Code.

Exxon Faces Historic Writedown Share your comments
Tuesday, December 01, 2020Exxon Mobil Corp. is about to incur the biggest writedown in its modern history.

McDermott Secures $560MM in New Capital Share your comments
Thursday, November 19, 2020McDermott International has announced that it has secured approximately $560 million in new capital through a series of transactions expected to close by the end of the year.

Aramco Kicks Off Bond Sale Share your comments
Tuesday, November 17, 2020Saudi Aramco kicked off a jumbo bond sale Tuesday to help fund a $75 billion dividend, returning to the debt markets for the first time since April of last year.

Aramco Keeps Dividend Share your comments
Tuesday, November 03, 2020Saudi Aramco failed to generate enough cash to cover its dividend, yet left the payout unchanged at $18.75 billion for the third quarter even as profit fell 45% and debt continued to rise.

XOM Warns of $30B Shale Writedown Share your comments
Friday, October 30, 2020Exxon Mobil Corp. warned it may take up to $30 billion in writedowns on natural gas fields after posting a historic loss despite sweeping budget and job cuts.

Shell Raises Dividend Share your comments
Thursday, October 29, 2020Royal Dutch Shell set out to woo disgruntled investors by raising its dividend and pledging to grow it steadily, just six months after slashing the payout.

North America Oil Bankruptcy Debt Hits All Time High Share your comments
Friday, October 23, 2020The associated debt from North American oil and gas bankruptcies in 2020 has already reached an all-time high, according to Rystad Energy.

Transocean Receives NYSE Notice Share your comments
Monday, October 19, 2020Transocean (NYSE: RIG) has received a formal notice from the New York Stock Exchange of non-compliance with NYSE continued listing standards.

NES Global Talent Reports Strong 2019 Results Share your comments
Tuesday, October 06, 2020NES Global Talent, which recently combined with the Fircroft Group, revealed that it achieved 'record results' for the year ending October 31, 2019, back when it was a single entity.

BP Hits 25-Year Low Share your comments
Friday, September 25, 2020Just a week after revealing its plan to turn itself into a clean-energy giant, BP Plc watched its share price drop to a 25-year low.

Anadarko Basin Player Files Chapter 11 Share your comments
Monday, August 17, 2020Chaparral Energy Inc has voluntarily filed petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in accordance with a restructuring support agreement it has made.

Profit Warnings Soar for UK Oil Cos Share your comments
Friday, August 07, 2020UK listed oil and gas companies issued more profit warnings in the second quarter of this year than the whole of 2019.

BP Cuts Dividend for First Time Since 2010 Share your comments
Tuesday, August 04, 2020BP cut its dividend for the first time in a decade, removing a cornerstone of its investment case.

Deutsche Bank Drops Some Oil Financing Share your comments
Tuesday, July 28, 2020Deutsche Bank has adopted a new fossil fuels policy.

Equinor In Surprise Profit Share your comments
Friday, July 24, 2020Equinor reported a surprise profit in the second quarter.

Woodside Warns of $4.3B Post Tax Hit Share your comments
Wednesday, July 15, 2020Woodside Petroleum has warned that it expects to take a post-tax hit of $4.37 billion in its financial results for the first half of the year.

BP Investing $70MM in GGEF Share your comments
Wednesday, July 08, 2020BP is investing $70 million in India's Green Growth Equity Fund.

Hamm Adds $57MM of Faith In Continental Share your comments
Thursday, June 25, 2020Billionaire wildcatter Harold Hamm bought more shares in the shale drilling company he controls as oil prices recover from their historic plunge.

FAR in Default on Senegal Project Share your comments
Thursday, June 25, 2020On top of the default announcement, FAR also revealed more job losses and executive pay cuts.

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