Finance and Investing News for Gulf of Mexico


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NatWest To Provide $137B For Climate And Sustainable Funding Share your comments
Thursday, October 14, 2021NatWest has set a target of providing $137 billion of sustainable and climate funding for its customers by the end of 2025.

Gen Z Texas Oil Scion Has a New SPAC Share your comments
Thursday, October 14, 2021The special purpose acquisition company sold 12.5 million units at $10 apiece in its U.S. initial public offering.

World Not Investing Enough for Future Energy Needs Share your comments
Wednesday, October 13, 2021The agency advises some of the most industrialized countries including the U.S., Germany and Japan.

ESG Boom Punishing Old School Energy Stocks Share your comments
Wednesday, October 13, 2021U.S. oil and gas companies are trading at less than half 2014 levels.

Seadrill Reorganization Plan Accepted by Creditors And Shareholders Share your comments
Tuesday, October 12, 2021All voting classes of stakeholders and creditors accept Seadrill's reorganization plan.

Biggest Saudi Listing Since Aramco Slumps on Day 2 Share your comments
Tuesday, October 12, 2021Shares in the utility closed down 8.4 percent at 66.7 riyals ($17.78) on Tuesday.

Shell Reveals Ida Impact on Operations Share your comments
Thursday, October 07, 2021Shell (NYSE: RDS.A) warned that Hurricane Ida in the U.S. Gulf of Mexico is expected to have an aggregate adverse impact of around $400 million on adjusted earnings and cash flow from operations in 3Q.

Oil Market Needs $500B+ Injection to Ensure Supply Share your comments
Thursday, October 07, 2021Oil explorers need to raise drilling budgets by 54 percent to more than half a trillion dollars to forestall a significant supply deficit in the next few years, according to Moody's Investors Service Inc.

Aramco Fights Apple for Most Valuable Company Prize Share your comments
Wednesday, October 06, 2021Saudi Aramco is close to claiming the prized position of the world's most valuable company from Apple Inc.

Exxon Sees $700MM Windfall from Gas Rally Share your comments
Friday, October 01, 2021Exxon Mobil Corp. said higher global natural gas prices will increase third-quarter profit by about $700 million, a sum that should help the oil giant reduce its debt pile.

Aberdeen University Commits to Fossil Fuel Divestment Share your comments
Friday, October 01, 2021Aberdeen University has announced a commitment to divest from fossil fuels.

Petrofac Failed to Prevent Bribes for $3.6B in Contracts Share your comments
Friday, October 01, 2021Petrofac pleaded guilty to seven counts of failing to prevent $44 million in bribes made to secure lucrative contracts in the Middle East between 2011 and 2017 at a London court on Friday.

Someone Is Betting Oil Will Hit $200 Share your comments
Thursday, September 30, 2021Could the energy crunch get so bad that oil prices hit $200 a barrel? One options trader thinks so.

Shell Sheds Egypt Onshore Assets Days After Permian Exit Share your comments
Friday, September 24, 2021Shell has completed the sale of upstream assets in Egypt’s Western Desert to a consortium of Cheiron Petroleum and Cairn Energy subsidiaries.

Adnoc Raises Drilling IPO Size to $1.1B Share your comments
Wednesday, September 22, 2021Abu Dhabi National Oil Co. increased the size of its drilling unit's initial public offering amid heavy demand for shares in what is likely to be the emirate's biggest listing in at least four years.

Lightsource BP Secures $1.8B Credit Facility Share your comments
Wednesday, September 22, 2021Lightsource bp has secured a new $1.8 billion revolving credit facility and trade finance facility.

Diamondback Rises After Accelerating Returns Share your comments
Friday, September 17, 2021Diamondback Energy Inc. rose in after-hours trading after pledging to accelerate cash returns to shareholders in the fourth quarter.

Gunvor to Tap Bond Market for First Time Since 2013 Share your comments
Thursday, September 16, 2021Gunvor Group Ltd. is seeking a return to the bond market for the first time in eight years.

ACWA Plans $1.2B Offer in Biggest Saudi IPO Since Aramco Share your comments
Tuesday, September 14, 2021ACWA Power International is set to raise up to 4.55 billion riyals ($1.2 billion) in what would be the biggest offering in Riyadh since Saudi Aramco's listing.

Adnoc Drilling to Raise $750MM From Abu Dhabi IPO Share your comments
Monday, September 13, 2021Abu Dhabi National Oil Co. is seeking to raise about $750 million from its drilling unit's IPO, in what would rank among one of the largest share sales in the United Arab Emirates.

$42B Harvard Fund to Stop Investing in Fossil Fuels Share your comments
Friday, September 10, 2021Harvard University will stop investing in fossil fuels and instead use its giant $42 billion endowment to support the green economy.

Aramco Considers Opening $110B Project to Investors Share your comments
Thursday, September 09, 2021Saudi Aramco is considering a bold move to open up one of the world's largest unconventional gas fields to foreign investors.

Mexico Refinancing Pemex Debt Share your comments
Tuesday, September 07, 2021Mexico has begun a process of refinancing state-owned Petroleos Mexicanos's debt, after the nation received a transfer of about $12 billion from the International Monetary Fund.

Investors Keep the Faith in Pemex Share your comments
Friday, August 27, 2021It seems that every blow to Mexico's state-run oil company just reinforces bondholders' faith in its long-term outlook.

Cheap Oil Stocks Lure Investors Share your comments
Monday, August 23, 2021Europe's oil stocks may not be the most obvious picks in an ESG-conscious world, but some investors can't get enough of them.

Genel Down on Iraqi Kurdistan's Plan to Scrap Projects Share your comments
Friday, August 20, 2021Genel Energy Plc fell the most in more than a year in London trading after saying Iraq's Kurdish authorities plan to scrap its Bina Bawi and Miran natural gas projects.

BofA Says Aramco Dividend Is Not Enough Share your comments
Friday, August 06, 2021Saudi Aramco's annual dividend of $75 billion is already the world's biggest, but the oil producer may have to raise it to follow peers, according to Bank of America.

BP Increases Buybacks and Dividend Share your comments
Tuesday, August 03, 2021BP Plc followed its Big Oil peers by increasing dividends and share buybacks as higher crude prices boosted profit.

Chevron Revives Buyback of Up to $3B Share your comments
Friday, July 30, 2021Chevron Corp. is reviving share buybacks that were suspended more than a year ago.

Eni Delivers Exceptional Results Share your comments
Friday, July 30, 2021Eni delivered exceptional results in the second quarter of the year, according to the company's chief executive officer.

Shell Hikes Dividend and Starts $2B Share Buyback Share your comments
Thursday, July 29, 2021Royal Dutch Shell raised its dividend by almost 40 percent and said it will buy back $2 billion of shares.

Big Oil Shows Confidence That Big Profits Era Is Back Share your comments
Thursday, July 29, 2021Europe's largest oil and gas companies showed confidence that the era of big profits is back by significantly boosting returns to shareholders.

Aramco to Sell More Assets in $Multibillion Push Share your comments
Friday, July 09, 2021The world's largest oil company, Saudi Aramco, is planning to raise tens of billions of dollars by selling more stakes in its businesses.

Shale Rushes to Lock In Oil Rally Share your comments
Wednesday, July 07, 2021As soon as OPEC+ negotiations fell apart on Monday U.S. shale executives began hitting the phones.

Oil Stocks Hold Strong Amid Climate Uproar Share your comments
Thursday, May 27, 2021Energy-stock investors are clinging to their holdings, buoyed by rising commodity prices and profits, as the companies face historic pressure to confront climate change.

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.

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.

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.

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.

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.

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