Capital Budget Annoucements News

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Big Oil Saw Record $199Bn Profits In 2022 But 2023 Will Be Different
Saturday, January 28, 2023ExxonMobil, Chevron, Shell, TotalEnergies, and BP reaped almost $200 billion collectively last year but the outlook for 2023 does not look so bright.

Chevron Falls After Posting Disappointing Quarterly Result
Friday, January 27, 2023Chevron Corp. posted disappointing fourth-quarter results.

Exxon Building Largest Renewable Diesel Plant In Canada
Friday, January 27, 2023ExxonMobil will invest about $560 million to move forward with the construction of the largest renewable diesel facility in Canada.

Fossil Fuel Profits Roar Back
Thursday, January 26, 2023Oil and gas companies' contribution to the S&P 500 Index's earnings has nearly doubled from a year ago.

Chevron to Buy Back $75B in Stock After Record Profit
Thursday, January 26, 2023Chevron Corp. plans to buy back $75 billion of shares and increase dividend payouts.

Higher Volumes Bump Baker Hughes' Revenues In Q4
Wednesday, January 25, 2023Baker Hughes saw its quarterly revenues edge up 8 percent year-on-year on the back of record orders in the fourth quarter.

Halliburton, Schlumberger Increase Dividend
Wednesday, January 25, 2023Both Halliburton and Schlumberger announced notable dividend increases.

Texas Oil & Gas Industry Paid Record $24.7Bn In Taxes And Royalties
Tuesday, January 24, 2023The Texas oil and natural gas industry has paid $24.7 billion in state and local taxes and state royalties – by far the highest total in Texas history.

China Oil Giants See Profits Surge
Sunday, January 22, 2023China's oil giants said preliminary net income for last year surged.

ADNOC Adds HSBC, ADCB, EFG on Mega IPO Of Gas Unit
Sunday, January 22, 2023ADNOC has added banks including HSBC and EFG to help arrange the planned initial public offering of its natural gas business, sources said.

US Climate Bill To Boost Renewables Investment To $114B By 2031
Friday, January 20, 2023The Inflation Reduction Act (IRA) will significantly boost annual investment into renewable energy deployment in the US.

Energean Posts Revenues Jump In 2022, Heads Into Busy 2023
Friday, January 20, 2023Energean has closed a landmark year of 2022 with a 48 percent jump in revenues compared to 2021.

Coro Energy's Posts Revenue Drop From Italian Natural Gas Ops
Tuesday, January 17, 2023Coro Energy has posted lower revenues in the fourth quarter of 2022, from its Italian natural gas portfolio.

NZTC Funds Innovative Emission Reduction Tech
Tuesday, January 17, 2023The Net Zero Technology Centre has made £500,000 available for emissions-reducing technology development and deployment projects.

TotalEnergies Gives $1Bn Go-Ahead For Lapa South-West Project
Monday, January 16, 2023TotalEnergies has approved the final investment decision of the Lapa South-West oil development located in the Santos Basin off Brazil.

Low-Carbon Investments To Rise By $60 Billion In 2023
Friday, January 13, 2023Spending on low-carbon projects will increase by $60Bn this year, led by wind and a rise in funding for hydrogen and CCUS, Rystad Energy said.

CGG Expects Revenue Jump Following Strong Aftersales
Wednesday, January 11, 2023CGG is expecting its segment revenue for the fourth quarter to hit $321 million, 48pct up sequentially and 8pct up proforma year-on-year.

Cnooc Lifts Spending to Raise Energy Supply as China Reopens
Wednesday, January 11, 2023China National Offshore Oil Corp. pledged higher spending this year.

Altera Emerges From Chapter 11 Enabling Petrojarl Knarr FPSO Deal
Tuesday, January 10, 2023Altera Infrastructure has emerged from the Chapter 11 process after successfully completing its plan of reorganization.

Transocean Raising $500M To Fund Part Of Its 8th-Gen Drillship
Tuesday, January 10, 2023Transocean has offered $500M in senior secured notes due 2028 to finance part of the expenses for its second 8th-generation drillship.

BP to Invest $7B in Gulf of Mexico Business by 2025
Thursday, January 05, 2023Over the past five years, BP has invested $10 billion in the Gulf of Mexico.

Oil Cos Could Turn Wastewater Into Revenue Stream
Thursday, December 29, 2022DLE has the potential to generate billions of dollars in revenue to E&P companies.

UK Oil Lobby Warns Financing May Dry Up After Windfall Tax
Thursday, December 29, 2022The oil and gas industry warns that the Energy Price Levy risks drying up investment.

World Economy Headed For A Recession In 2023
Monday, December 26, 2022The world faces a recession in 2023 as higher borrowing costs aimed at tackling inflation cause several economies to contract.

Seadrill Buying Rival Aquadrill For Nearly $1Bn
Monday, December 26, 2022Seadrill Limited and Aquadrill have agreed a merger through a $958 million all-stock deal.

Big Oil Investors Calling For More Aggressive Climate Targets
Sunday, December 25, 2022Investors with combined assets of $1.4 trillion have demanded the world's biggest oil companies take swifter action to cut GHG emissions.

ExxonMobil Now Larger Than Tesla
Wednesday, December 21, 2022ExxonMobil is now larger than Tesla in terms of market cap, according to

Fredriksen's Oil Trader Alta Is Winding Down
Tuesday, December 20, 2022Billionaire John Fredriksen's boutique oil trading business is being wound down, people familiar with the matter said.

Evercore Says Oil Giants Set to Slash Overseas Growth Plans
Wednesday, December 14, 2022Some of the world's biggest oil and gas companies are expected to expand their international budgets by 12 percent in 2023, down from an increase of 26 percent this year, according to a survey from Evercore ISI.

Abu Dhabi Trio Aim To Make Masdar Global Clean Energy Powerhouse
Monday, December 12, 2022TAQA, Mubadala, and ADNOC have completed the Masdar transaction, becoming shareholders in Abu Dhabi Future Energy Company.

Zephyr Secures Funds For Paradox Project
Monday, December 12, 2022Zephyr Energy has signed an amended cooperation agreement with the DoE, securing an additional $1 million for the Paradox project.

TotalEnergies To Take $3.7Bn Write-Off On Novatek Stake
Monday, December 12, 2022TotalEnergies said it would take a $3.7 billion write-off on its stake in Novatek and withdraw its two members from the company's board.

ExxonMobil Hikes Share Buyback Plan To $50Bn
Sunday, December 11, 2022Exxon expanded its share-buyback program to $50Bn through 2024 after higher oil and gas prices boosted the energy giant's earnings this year.

Trafigura Posts Record $7Bn Profit In Blowout Year
Saturday, December 10, 2022The oil and petroleum products business had "an exceptionally strong year," said Chief Financial Officer Christophe Salmon.

Exxon To Maintain Capex Levels At $20-25B Until 2027
Friday, December 09, 2022ExxonMobil today announced its corporate plan for the next five years which maintains annual capital expenditures at $20-$25 billion.

Big Oil to Meet With UK Chancellor Over Windfall Tax
Thursday, December 08, 2022UK Chancellor of the Exchequer Jeremy Hunt will meet with top North Sea oil and gas producers on Friday.

Brazilian Mid-Caps To Increase Mature Asset Reserves By 1Bn
Wednesday, December 07, 2022With Petrobras divesting many of its mature assets, new mid-cap upstream operators entering the Brazilian market will invest $10B over the next decade.

TotalEnergies To Cut £100M In 2023 North Sea Investments
Friday, December 02, 2022TotalEnergies' North Sea business chief said that the French firm would cut investment by a quarter next year due to the UK Government's windfall tax.

Seadrill Tightens Loss In Q3
Thursday, December 01, 2022Seadrill Limited has tightened its loss quarter-on-quarter backed by high utilization levels in Q3.

Ithaca Posts $1.39Bn Profit For First Nine Months Of 2022
Thursday, December 01, 2022Ithaca Energy has posted a profit after tax of $1.39 billion for the first nine months of 2022 with a production of 68.2 thousand boe/d.

ADNOC Focusing On Decarbonization, Supporting Global Energy Security
Tuesday, November 29, 2022The Abu Dhabi National Oil Company has set out on a path of reaching Net Zero by 2050 and supporting global energy security.

EnQuest Year-To-Date Production Right on Point
Friday, November 25, 2022EnQuest has reported higher production for the first 10 months of 2022 when compared to the corresponding period in 2021.

Neptune Energy Donates Funds To Help Sheltersuit UK Operate
Thursday, November 24, 2022Neptune Energy has donated GBP 100,000 to help Sheltersuit UK care for rough sleepers this winter.

Bollinger Completes VT Halter Marine And STEHMO Shipyards
Tuesday, November 15, 2022Bollinger Shipyards has finalized the acquisition of VT Halter Marine and ST Engineering Halter Marine Offshore.

ETAF Collects $1B Energy Transition Funding For Developing Markets
Thursday, November 10, 2022The Energy Transition Accelerator Financing Platform has come near its $1B target for project funding with three new partners.

Equinor Pushes Back Wisting Investment Decision
Thursday, November 10, 2022Equinor has decided to postpone the investment decision for the Wisting project scheduled for December 2022.

Energy In Crosshairs Of UK Chancellor Plan To Fix Fiscal Hole
Thursday, November 10, 2022UK Chancellor of the Exchequer Jeremy Hunt will announce a major economic package on Nov. 17 as he tries to stabilize public finance.

Port Of Aberdeen Gets Government Net Zero Funding
Thursday, November 10, 2022Port of Aberdeen has been awarded more than £200,000 from the UK Government to accelerate the port's drive to Net Zero by 2040.

Iberdrola Investing $47B In Energy Transition In 2023-25
Wednesday, November 09, 2022Iberdrola will invest over $47 billion during the 2023-2025 period to promote the energy transition, employment, and zero net emissions.

Marathon Oil Adds More Eagle Ford Assets With $3B Ensign Buy
Friday, November 04, 2022Marathon Oil has bought the Eagle Ford assets of Ensign Natural Resources for a total cash consideration of $3 billion.