OAG360 Archives - Page 8 of 552

Oilfield services giant SLB tops profit estimates amid overseas business strength

January 19, 2024

Investing Investing.com — Oilfield services giant SLB (NYSE:SLB) has reported fourth-quarter profit that topped analyst estimates and bumped up its dividend. Houston-based SLB posted a 21% jump in net income attributable to shareholders, excluding charges and credits, to $1.24 billion in the three months ended on Dec. 31. The total translated to diluted earnings per share of $0.86, above Bloomberg

Infrastructure investors plan $163 billion energy islands

January 19, 2024

Oil Price Denmark-based Copenhagen Infrastructure Partners (CIP), a major investor in offshore wind, said on Friday it is launching a new company to develop energy islands globally, with investments estimated at around $163 billion (150 billion euros). CIP is launching Copenhagen Energy Islands (CEI), which is currently developing a portfolio of around 10 energy island projects around the North Sea, the Baltic Sea, and

Europe, Africa crude market tightens on Red Sea disruptions, China demand

January 19, 2024

Nasdaq The Brent crude market structure and some physical markets in Europe and Africa are reflecting tighter supply resulting partly from concern about shipping delays due to vessels avoiding the Red Sea, according to traders, LSEG data and analysts. The disruptions have combined with other factors such as outages and rising Chinese demand to increase competition for crude supply that

Houthis target U.S.-owned tanker in Red Sea

January 19, 2024

Oil Price The Iran-aligned Houthis fired late on Thursday two anti-ship ballistic missiles at a U.S.-owned chemical tanker in the Red Sea, the U.S. Central Command said in what it described as the third Houthi attack on a commercial vessel in three days. On Thursday evening local time, the Houthis launched two anti-ship ballistic missiles at the chemical tanker M/V Chem Ranger.

U.S. rig count had an increase of 1 this week, at 585- oil and gas 360

U.S. rig count had an increase of 1 this week, at 620

January 19, 2024

Oil and Gas 360 This week’s Baker Hughes Rig Count shows that U.S. had an increase of 1 over last week, resulting in a total count of 620 rigs. Canada had an increase of 10 over last week, resulting in a total Canadian count of 223 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Cana Woodford,

Biden administration taking heat from all sides over Louisiana LNG project

January 19, 2024

Nasdaq WASHINGTON – The Biden administration faces mounting pressure over whether to approve a massive new Louisiana LNG export project, with environmentalists saying the facility would undermine U.S. climate goals and business interests arguing it is essential for global energy security. The Federal Energy Regulatory Commission, a panel of three regulators, is expected to vote in weeks or months on

9 million barrels of Saudi and Iraqi oil delayed amid Red Sea chaos

January 19, 2024

Oil Price Tankers carrying nearly 9 million barrels of oil from Saudi Arabia and Iraq will delay their deliveries as they have diverted away from the Red Sea/Suez Canal route in recent days, and are now headed on the longer route via Africa, Bloomberg vessel-tracking data showed on Friday. The tankers loaded crude oil and petroleum products at Saudi Arabia’s ports of

Oil heads for weekly gain as Middle East tensions support

January 19, 2024

Yahoo Finance LONDON -Oil rose on Friday and heading for a weekly gain, as Middle East tensions and oil output disruptions caused by cold weather in the U.S., the world’s biggest producer, balanced concerns about the health of the Chinese and global economies. Pakistan launched strikes on separatist militants inside Iran on Thursday in a retaliatory attack, while the U.S.

New methane emission laws could transform U.S. energy sector

January 18, 2024

Oil Price The U.S. Environmental Protection Agency (EPA) could introduce new emissions fees for the production of methane in oil and gas projects across the country if approved. This month, the EPA proposed a new rule to encourage clean energy deployment and decarbonisation, as well as to reduce methane emissions, aimed at some of the country’s biggest emitters. Some companies

Philippines to begin exploration activities in oil-rich sea amidst China tension with U.S. as defense ally

January 18, 2024

World Oil (Bloomberg) – The Philippines is building defense alliances with the U.S. and other security partners to help pave the way for resource exploration in the oil-and-gas-rich South China Sea, the nation’s top defense official said, prompting a warning from Beijing. “I really do think it’s quite urgent that we start now,” Defense Secretary Gilberto Teodoro Jr. said in

Top oil and financial firms made $424 billion in windfall profits in two years

January 18, 2024

Oil Price The biggest oil companies and the top financial institutions generated combined windfall profits of as much as $424 billion in the two years to June 2023, a report by ActionAid and Oxfam showed this week. ActionAid and Oxfam have looked at the 200 largest companies in the world by market capitalization to estimate their windfall profits, comparing the earnings in

Deep freeze across Texas, Louisiana disrupts U.S. LNG exports

January 18, 2024

World Oil (Bloomberg) – The recent freeze across Texas and Louisiana disrupted scheduled exports of U.S. liquefied natural gas (LNG), temporarily tightening some supply of the heating and power-plant fuel. The Cameron LNG export plant in Louisiana canceled at least one scheduled shipment, according to people familiar with the matter. Several other planned deliveries from Cameron and Cheniere Energy Inc.’s

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