Industry News

'We expect earnings growth of more than 10 percent in 2024 for oilfield services companies we rate as the industry benefits from rising upstream capital spending', a Moody's Ratings report stated.

'We experienced a $0.02 per share impact to our adjusted earnings from lost or delayed revenue due to the August cybersecurity event and storms in the Gulf of Mexico'.

The vessels are part of PIL's bid to replace up to half of its fleet with modern units over the next decade, with 18 newbuilds ordered since 2022.

Under one potential plan, state-backed Rosneft would take over Gazprom Neft and Lukoil, the newspaper said.

Strategic Marine secured a contract to build a next-generation crew transfer vessel for OEG Renewables.

Qatar's sovereign wealth fund is bolstering its efforts to take over the German businesses of Russian oil giant Rosneft as the government in Berlin looks to relinquish control of the entities.

Oil prices fell as weak Chinese stimulus and post-election uncertainty kept WTI trading in a tight range.

The new proposal by affiliate Amber Energy is $2 billion less than its original offer and has a different structure, in an attempt to assuage some creditors.

Valeura's working interests in all its Thai III fiscal contracts, covering the Nong Yao, Manora, and Wassana fields, are now held by Valeura Energy (Thailand).

Both deals were held up by due diligence to 'reduce risk of divestors evading legacy obligations and transferring them to new investors'.

U.S. and global economic growth could slow down if the incoming Trump administration imposes additional tariffs, leading to world oil demand falling by as much as 500,000 bpd next year, WoodMac said.

The East Providence terminal, featuring 10 product tanks with 959,730-barrel shell capacity, serves as a strategic storage facility for various products.

'ADNOC is aiming to drive an additional AED178 billion back into the UAE's economy by 2028' through the company's In-Country Value program.

TA'ZIZ, an ADNOC joint venture tasked with establishing a 'chemicals and transition fuels ecosystem', has awarded over $2 billion worth of EPC contracts for the chemical infrastructure portion of the Al Ruwais project.

Year-to-date shipments are now running more than three percent behind last year's pace.

QatarEnergy held naming ceremonies to inaugurate four of the dozens of conventional-size LNG vessels it had ordered from South Korean builders.

Oil prices rose, buoyed by equities and a weaker dollar, as traders navigated the mixed effects of Trump's presidency, potential Iran sanctions, and geopolitical tensions on the crude market.

'Together with the success at Who Dat East earlier in the year, the preliminary successful results at Who Dat South strongly support Karoon's strategy to diversify its asset base by entering the Miocene play in the Gulf of Mexico'.

The election win positions Trump to deliver on his campaign pledges to go after climate policies he has dubbed the 'green new scam' while reorienting the federal government toward pumping more crude and building more power plants.

Northern Oil and Gas posted $298.4 million in net income for the third quarter of 2024.