2023 - Page 5 of 22 - Energy Analytics Institute (EAI)

Local Trinidad Operator Expresses Interest in Citgo Assets

(Trinidad Express, 2.Nov.2023) — Decker Petroleum and Marketing Company Ltd (DPMCL), based in Trinidad and Tobago, has written the US District Court of Delaware officially expressing its interest in acquiring the asphalt assets of Venezuelan oil refiner Citgo. In 2018, the US District Court of Delaware ordered PDV Holdings, the […]

ExxonMobil Completes Denbury Acquisition

(ExxonMobil, 2.Nov.2023) — Exxon Mobil Corporation (NYSE: XOM) has closed its acquisition of Denbury Inc. (NYSE: DEN) in an all-stock transaction valued at $4.9bn, or $89.45 per share, based on ExxonMobil’s closing price on 12 July 2023. Under the terms of the agreement, Denbury shareholders will receive 0.84 shares of […]

Cheniere Provides 3Q:23 Financial Highlights [PDF Downloads]

(Cheniere, 2.Nov.2023) — Cheniere Energy, Inc. (NYSE American: LNG) updated investors on recent highlights during the third quarter of 2023. During the three and nine months ended 30 September 2023, Cheniere generated revenues of approximately $4.2bn and $15.6bn, net income1 of approximately $1.7bn and $8.5bn, Consolidated Adjusted EBITDA2 of approximately $1.7bn and […]

Cheniere and Foran Energy Ink Long-Term LNG SPA

(Cheniere, 2.Nov.2023) — Cheniere Energy, Inc. (NYSE American: LNG) announced that Cheniere’s subsidiary, Cheniere Marketing, LLC, has entered into a long-term liquefied natural gas (LNG) sale and purchase agreement (SPA) with Foran Energy Group Co. Ltd. Under the SPA, Foran has agreed to purchase approximately 0.9 million tonnes per annum […]

ConocoPhillips Reports 3Q:23 Results [PDF Downloads]

(ConocoPhillips, 2.Nov.2023) — ConocoPhillips (NYSE: COP) reported third-quarter 2023 earnings of $2.8bn, or $2.32 per share, compared with third-quarter 2022 earnings of $4.5bn, or $3.55 per share. Excluding special items, third-quarter 2023 adjusted earnings were $2.6bn, or $2.16 per share, compared with third-quarter 2022 adjusted earnings of $4.6bn, or $3.60 […]

Aker Horizons ASA Reports 3Q:23 Results

(Aker Horizons, 2.Nov.2023) — Aker Horizons ASA (OSE: AKH), a developer of green energy and industry, today announced results for the third quarter of 2023. Aker Horizons’ net asset value stood at NOK 10.2bn as of 30 Sep. 2023. The company had a cash position of NOK 3.5bn and an undrawn credit facility of EUR 500mn, giving […]

Sungrow Announces Renewable Energy Solutions to Support Saudi’s Vision 2030

(Sungrow, 1.Nov.2023) — Sungrow, the global inverter and energy storage system supplier, introduced its state-of-the-art solar-plus-storage energy solutions covering utility-scale, C&I and residential scenarios during the Solar Show KSA 2023. The solutions incorporate cutting-edge technologies in the industry, aiming to accelerate Saudi Arabia’s transition from traditional energy to clean power and increase […]

Apache Corp Expands Award-Winning Tree Grant Programme to Scotland

(APA Corporation, 1.Nov.2023) — Apache Corporation, a subsidiary of APA Corporation (Nasdaq: APA), today announced the launch of the Apache Tree Grant Programme in Scotland for the 2023-2024 planting season. Initially launched in the United States, the Apache Tree Grant Programme is an award-winning initiative focused on large-scale conservation, protection […]

APA Corp. Reports 3Q:23 Financial, Operational Results [PDF Download]

(APA Corporation, 1.Nov.2023) — APA Corporation (Nasdaq: APA) announced its financial and operational results for the third quarter of 2023. APA reported net income attributable to common stock of $459mn, or $1.49 per diluted share. When adjusted for items that impact the comparability of results, APA’s third-quarter earnings were $410mn, […]

Bristow Reports 3Q:23 Results

(Bristow, 1.Nov.2023) — Bristow Group Inc. (NYSE: VTOL) reported net income attributable to the company of $4.3mn, or $0.15 per diluted share, for its quarter ended 30 Sep. 2023 on operating revenues of $330.3mn compared to net loss attributable to the company of $1.6mn, or $0.06 per diluted share, for the quarter ended 30 Jun. 2023 on operating revenues […]

1PointFive and TD Announce Direct Air Capture Carbon Removal Credit

(1PointFive, 31.Oct.2023) — 1PointFive, a carbon capture, utilization and sequestration company, and TD Bank Group, announced a purchase of carbon dioxide removal (CDR) credits from STRATOS – 1PointFive’s first Direct Air Capture (DAC) plant currently under construction in Texas. Under the terms of the agreement, and subject to STRATOS becoming […]

Marathon’s SVP Heppner Says Company Not Interested in Citgo Assets

(Energy Analytics Institute, 31.Oct.2023) — Marathon Petroleum Corporation’s senior vice president of strategy and business development, Dave Heppner, responded to questions from analysts during the company’s third quarter 2023 conference call about rumors it was interested in Houston-based refiner Citgo Petroleum. Heppner said that in the current environment that refining […]

Mainstream’s JV Applies for 2.5 GW Wind Permit off Sweden’s East Coast

(Mainstream, 31.Oct.2023) — Freja Offshore, a 50-50 joint venture between Mainstream Renewable Power and Hexicon, has submitted a planning application for the up-to 2.5 GW Dyning floating offshore wind farm in the Baltic Sea, located in Sweden’s economic zone, approximately 45 kilometers southeast of Oxelösund. Dyning will have the potential […]

Petronas FutureTech 3.0 Accelerates Growth of Startups in Sustainable Innovations

(Petronas, 31.Oct.2023) — Petronas’ accelerator programme, Petronas FutureTech 3.0 selected at its Demo Day today 10 technology-driven startups that have shown the most potential in developing impactful, future-focused and sustainable innovations which are able to meet energy transition needs. Five selected startups including Entomal Biotech Sdn Bhd, Wildfire Energy Pty […]

Petronas Makes Oil Find in Suriname’s Offshore Block 52

(Petronas, 2.Nov.2023) — Petronas’ subsidiary, Petronas Suriname E&P B.V., has made an oil discovery at the Roystonea-1 exploration well in Suriname’s Block 52. The well, located about 185 kilometers offshore in water depth of 904 meters, was successfully drilled to a total depth of 5,315 meters. It also encountered several […]

Petrobras Comments on Extraordinary General Meetings

(Petrobras, 31.Oct.2023) — The Board of Directors of Petróleo Brasileiro S.A. (Petrobras) invites the company’s shareholders to meet at the Extraordinary General Meeting, to be held on 30 November 2023, at 2:00 p.m. (GMT-3 time zone) partially by digital form, pursuant to Resolution No. 81 of the Brazilian Securities and Exchange […]

EAI’s NRGBriefs: Oct. 2023

(Energy Analytics Institute, 31.Oct.2023) — Energy briefs as well as others related to finance and projects during October 2023 including Vista‘s third quarter 2023 earnings presentation; the long-awaited Citgo Petroleum auction; Colombia’s first seabed allocation competitive process for offshore wind energy; former Trinidad and Tobago energy minister Kevin Ramnarine on […]

England
UK

bp’ 3Q:23 Results: Focused on Delivery [PDF Downloads]

(bp, 31.Oct.2023) — Our results this quarter show how we are making progress on our strategy to transform from an international oil company to an integrated energy company. From the expansion of the Tangguh LNG facility in Indonesia to a new deal with Tesla in EV charging, we’re providing oil […]

Africa
Congo

IMF on Staff-Level Agreement with the Democratic Republic of the Congo

(IMF, 31.Oct.2023) — End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary […]

Noble Corp. Reports 3Q:23 Results [PDF Download]

(Noble, 31.Oct.2023) — Noble Corporation plc (NYSE: NE, CSE: NOBLE) reported third quarter 2023 results. Highlights: Increasing quarterly dividend to $0.40 per share in the fourth quarter. Net Income of $158mn, Diluted Earnings Per Share of $1.09, Adjusted EBITDA of $283 million, cash provided by operating activities of $139mn, and Free […]

Denbury Shareholders Approve Merger with Exxon Mobil

(Reuters, 31.Oct.2023) — (DEN.N) said on Tuesday its shareholders approved the company’s merger with Exxon Mobil (XOM.N), with the deal closing expected on Nov. 2. Exxon Mobil in July agreed to buy the Plano, Texas-based Denbury for $4.9 billion to accelerate its energy transition business with an established carbon dioxide (CO2) sequestration […]

Venezuelan Oil Sanctions Relief at Risk as Court Suspends Opposition Primary Results

(S&P Global, 30.Oct.2023) — The Supreme Court of Justice (TSJ) in Venezuela ordered the suspension of the results of the opposition’s primary elections which was claimed to be won by María Corina Machado, and proclaimed as presidential candidate of the opposition, a decision that could put the relief of US […]

Asia
China

JinkoSolar Announces 3Q:23 Financial Results

(JinkoSolar, 30.Oct.2023) — JinkoSolar Holding Co., Ltd. (NYSE: JKS) announced its unaudited financial results for the third quarter ended 30 September 2023. Third Quarter 2023 Business Highlights Leveraging our outstanding N-type technology, extensive global operation network, and advanced integrated capacity structure, module shipments in the third quarter increased 20.4% sequentially and 107.9% year-over-year. […]

Chevron, Angola Gov’t to Collaborate on Low-Carbon Opportunities

(Chevron, 30.Oct.2023) — Cabinda Gulf Oil Company Limited (CABGOC), a Chevron’s subsidiary in Angola, hosted in Luanda a signature of a Memorandum of Understanding (MOU) between Chevron New Energies, a Chevron U.S.A. Inc. division, and the Angola government to explore potential lower carbon business opportunities in Angola. Chevron and the […]

Asia
Vietnam

Perenco Vietnam: Block 15-1 Reaches 400 MMbbl Production Milestone

(Perenco Vietnam, 30.Oct.2023) — Perenco Vietnam announced that as Block 15-1 marks its 25th anniversary, it has reached the significant production milestone of 400 million barrels of oil. The 400 millionth barrel was commemorated at an event in Ho Chi Minh City with officials from several Vietnamese ministries and Government offices, […]

Asia May Have Little to Cheer from Lifting of Venezuelan Oil Sanctions

(S&P Global, 30.Oct.2023) — Asia may have little to cheer following the lifting of the sanctions on Venezuelan oil as increased competition for those Latin American cargoes could potentially make it difficult for buyers like China and India to source incremental cargoes from the supplier, prompting them to look at […]

Tetra Reports 3Q:23 Results, Updates on Lithium Brine Unit

(TETRA, 30.Oct.2023) — TETRA Technologies, Inc. (NYSE:TTI) today announced third quarter 2023 financial results. Brady Murphy, TETRA President and Chief Executive Officer, stated, “In addition to another strong financial performance, in the third quarter we achieved an important milestone in our Company’s history with unanimous approval by the Arkansas Oil & […]

Azure Sustainable Fuels Solidifies Strategic Partnership with Savage

(Azure, 30.Oct.2023) — Azure Sustainable Fuels Corp. has formed a strategic partnership with global supply chain company, Savage, and its agribusiness, Bartlett. Together with the previously announced government financial awards, this partnership further accelerates Azure’s plans of producing sustainable aviation fuel (SAF) by 2027. Savage and Bartlett bring significant expertise […]

Eni CFO Gattei Says Venezuela ‘Clearly Is Now An Opportunity’

(Energy Analytics Institute, 27.Oct.2023) — The CFO of Eni S.p.A., Francesco Gattei, commented on the situation in Venezuela during the Italian company’s third quarter 2023 conference call with analysts. Gattei said the Opec country is “clearly is now an opportunity”, referring to the state of play in the country after […]

Rowley: LNG Restructuring Saving T&T

(Trinidad Guardian, 27.Oct.2023) — Prime Minister Dr Keith Rowley yesterday described the signing in early December of the agreements to restructure the shareholding in Atlantic LNG as one of the most significant decisions that the Government has been able to accomplish. And he told the post-Cabinet news conference yesterday at […]

Guyana Greenlights Oil Drilling in Waters Claimed by Venezuela

(AFP, 27.Oct.2023) — The new find, as well as some of the drilling concessions, are in a disputed area whose possible annexation Venezuela is putting to a national referendum. Guyana, much smaller than its neighbor, has the world’s highest reserves of crude per capita. US oil giant ExxonMobil made the discovery of […]

ExxonMobil Announces 3Q:23 Results [PDF Downloads]

(ExxonMobil, 27.Oct.2023) — Exxon Mobil Corporation announced third-quarter 2023 earnings of $9.1bn, or $2.25 per share assuming dilution. Cash flow from operations was $16bn, up $6.6bn versus the second quarter. In line with plans, capital and exploration expenditures were $6bn in the third quarter, bringing year-to-date 2023 expenditures to $18.6bn. […]

Chevron Reveals 3Q:23 Results, Comments on Hess Deal [PDF Downloads]

(Chevron, 27.Oct.2023) — Chevron Corporation (NYSE: CVX) reported earnings of $6.5bn ($3.48 per share – diluted) for third quarter 2023, compared with $11.2bn ($5.78 per share – diluted) in third quarter 2022. Included in the current quarter were a one-time tax benefit of $560mn in Nigeria and pension settlement costs […]

Pemex Reports 3Q:23 Results [PDF Downloads]

(Pemex, 27.Oct.2023) —In the third quarter of 2023 (3Q23), Petróleos Mexicanos‘ operating performance was positive, supported by a responsible financial policy. In exploration and production, the strategy continued to favor the accelerated development of new fields, the reduction of times between development and start-up, the early incorporation of production from […]

bp Boosts EV Charging Network with $100mn Order from Tesla

(bp, 26.Oct.2023) — Today bp (NYSE: bp) announced a deal in which bp pulse, bp’s EV charging business, will acquire ultra-fast charging hardware units from Tesla (NASDAQ: TSLA) for $100mn. The investment will facilitate the expansion of the bp pulse public network across the US, while also enabling support for […]

Repsol CEO Josu Jon Imaz Comments on Venezuelan Opportunities

(Energy Analytics Institute, 26.Oct.2023) — Repsol SA CEO Josu Jon Imaz updated the analyst community on the Spanish company’s situation in Venezuela during a recent conference call. “In Venezuela, we welcome the latest developments with regard to the easing of the U.S. sanctions affecting the oil sector. This is, let […]

Petrobras Releases 3Q:23 Production and Sales Report [PDF Download]

(Petrobras, 26.Oct.2023) — In 3Q23, average production of oil, NGL and natural gas reached 2.88 MMboed, 9.1% higher than in 2Q23, mainly due to the better operational performance of the pre-salt platforms and the lower losses with stoppages and maintenance, besides the ramp-up of platforms P-71 in the Itapu field, […]

Petrobras on CARF Judgment Result

(Petrobras, 26.Oct.2023) — Petrobras informs that, in a session held today, the Second Panel of the Superior Chamber of Tax Appeals (CSRF), a body of the Administrative Council of Tax Appeals (CARF), heard and granted, by majority vote, the appeal filed by the National Treasury, limiting the deductibility of regular […]

Petronas Forms Integrity Alliance with Industry Players

(Petronas, 26.Oct.2023) — Petronas has formed an Integrity Alliance with its vendors to push for a greater governance and integrity culture within the oil and gas industry in line with the company’s policy of zero-tolerance against any form of corruption. The Integrity Alliance Ceremony with the theme ‘Fortifying Trust through […]

Eni Inks Deal to Ensure Further LNG Volumes from Indonesia

(Eni, 26.Oct.2023) — Eni signed a 0.8 billion cubic meters (bcm) LNG sales and purchase agreement with Merakes LNG Sellers, starting from January 2024 for 3 years, in addition to the contract with Jangkrik LNG Sellers for 1.4 billion cubic meters per year, in place since 2017. Thanks to these […]

Europe
Italy

Eni’s BODs on Distribution

(Eni, 26.Oct.2023) — Eni’s Board of Directors, chaired by Giuseppe Zafarana, resolved to distribute to Shareholders the second of the four tranches of the provision in place of the 2023 dividend from Eni S.p.A. available reserves[1] of € 0.23 (compared to a total annual provision, in place of the dividend, equal […]

Petrobras on Talks with Bolivia’s YPFB

(Petrobras, 26.Oct.2023) — Petróleo Brasileiro S.A. (Petrobras), regarding the pieces of news published in the media, informs that a mission of Petrobras executives was carried out in Bolivia with representatives of Yacimientos Petrolíferos Fiscales Bolivianos (YPFB). On that occasion, Petrobras executives heard about the opportunities presented by YPFB representatives, none […]

France’s TotalEnergies Reports 3Q:23 Results [PDF Download]

(TotalEnergies, 26.Oct.2023) — Paris-based TotalEnergies reported its financial and operational details for the third quarter of 2023. ____________________

TotalEnergies on Interim Dividend of €0.74/share for Fiscal Year 2023

(TotalEnergies, 26.Oct.2023) — The TotalEnergies‘ Board of Directors meeting on 25 October 2023 under the chairmanship of Mr. Patrick Pouyanné, Chairman and Chief Executive Officer, decided the distribution of the third 2023 interim dividend of 0.74 €/share, an increase of 7.25% compared to the three interim dividends paid for fiscal […]

TotalEnergies Pursues Its Integrated Power Strategy in Germany

(TotalEnergies, 26.Oct.2023) — TotalEnergies has signed agreements with the Aloys Wobben Foundation (AWS) to acquire the entire share capital of the German company Quadra Energy. Founded in 2012 and boasting a “virtual power plant” totaling 9 GW, Quadra Energy is one of the top 3 aggregators of renewable electricity production […]

TotalEnergies Commissions its LNG Floating Terminal in the Port of Le Havre

(TotalEnergies, 26.Oct.2023) — TotalEnergies announces the commissioning of the Cape Ann, its floating storage and regasification unit (FSRU) for liquefied natural gas (LNG) located in the port of Le Havre. The terminal injected its first megawatt-hours (MWh) of gas into the grid operated by GRTgaz, using LNG from Norway. TotalEnergies […]

Latin America and the Caribbean

ExxonMobil Deal a Sign of Strength for US Oil Production

(WoodMac, 16.Oct.2023) — On the day last week that ExxonMobil announced it had reached a deal to pay US$64.5bn for Pioneer Natural Resources, there was a curiously apposite coincidence: the Energy Information Administration reported that US oil production had hit a new record high. US crude production in the first week of […]

Big Oil: Upstream M&A Gets Serious

(WoodMac, 26.Oct.2023) — ExxonMobil’s and Chevron’s belief in the durability of upstream could hardly be better demonstrated by the game-changing acquisitions of two flagship US Independents. It’s a pivotal moment for the sector and widens the strategic gulf with the Euro Majors. Here are our team’s thoughts. First, what drove […]

Marathon Declares 3Q:23 Dividend

(Marathon, 25.Oct.2023) — Marathon Oil Corporation‘s (NYSE: MRO) board of directors has declared a dividend of 11 cents per share on Marathon common stock. The dividend is payable on 11 Dec. 2023, to stockholders of record on 15 Nov. 2023. “This is the eighth increase to our base dividend in the last eleven […]

Hess Reports 3Q:23 Operational Highlights [PDF Download]

(Hess, 25.Oct.2023) — Hess Corporation (NYSE: HES) reported net income of $504mn, or $1.64 per share, in the third quarter of 2023, compared with net income of $515mn, or $1.67 per share, in the third quarter of 2022. On an adjusted basis, the corporation reported net income of $583mn, or […]