(Shell, 31.Oct.2024) â Shell Plc reported third-quarter 2024 (3Q:24) adjusted earnings of $6bn, despite the lower crude prices and weaker refining margins, reflect strong operational performance in Integrated Gas, Upstream and Marketing. Shell’s cash flow from operations (CFFO) of $14.7bn for the 3Q:24 includes a working capital inflow of $2.7bn; […]
Coterra Reports 3Q:24 Results, Declares Dividend (PDF Download)
(Coterra, 31.Oct.2024) â Coterra Energy Inc. reported third-quarter 2024 financial and operating results and declared a quarterly dividend of $0.21 per share. “Coterra continues to exceed its 2024 plan and has strong momentum with significant optionality heading into 2025. Our teams continue to deliver strong and improving capital efficiency through […]
ConocoPhillips to close Marathon deal in 4Q:24
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 31.Oct.2024, Words: 310) â ConocoPhillips anticipates closing the planned acquisition of Marathon Oil in the fourth-quarter 2024 (4Q:24). The Houston-based company also expects to exceed an initial synergy guidance of $500mn. “We’re still on track to close this quarter. In the meantime, integration […]
ConocoPhillips Reports 3Q:24 Results, Updates on Marathon
(ConocoPhillips, 31.Oct.2024) â ConocoPhillips reported third-quarter 2024 earnings of $2.1bn, or $1.76 per share, compared with third-quarter 2023 earnings of $2.8bn, or $2.32 per share. Excluding special items, third-quarter 2024 adjusted earnings were $2.1bn, or $1.78 per share, compared with third-quarter 2023 adjusted earnings of $2.6bn, or $2.16 per share. […]
Expand Energy Reveals 2025 Capex Plan, Comments on Chesapeake
(Expand Energy, 31.Oct.2024) â Expand Energy Corporation reported third-quarter 2024 financial and operating results. In addition, the company provided its preliminary 2025 capital and operating plan and announced details regarding its enhanced capital return framework. On 1 Oct. 2024, Expand Energy announced the completion of the previously disclosed merger between […]
SM Energy Reports 3Q:24 Results (PDF Download)
(SM Energy, 31.Oct.2024) â SM Energy Company reported operating and financial results for the third quarter 2024 (3Q:24) and provided certain full year and fourth quarter 2024 guidance. Excellent operational execution drove strong third quarter results including: ____________________
Baker Hughes Launches Advanced Oxygen Analyzer
(Baker Hughes, 31.Oct.2024) â Baker Hughes launched the XMO2pro, a new and advanced oxygen analyzer designed to ensure greater levels of stability, accuracy and reliability. Oxygen gas analysis is key to safety, efficiency and control in industrial and energy processes â the presence of oxygen can cause corrosion and, when […]
Ecopetrol and Petrobras to continue exploration offshore Colombia
PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 31.Oct.2024, Words: 219) â Colombia’s state-owned Ecopetrol S.A. said the Santa Marta Tribunal issued a favorable decision regarding an appeal against the claim (acciĂłn de tutela) filed by the Indigenous Council of Taganga. This new ruling allows Ecopetrol and its Brazilian counterpart […]
TotalEnergies CEO to Argentina’s Javier Milei: “We Want Our Money Back”
HOUSTON, TEXAS (Energy Analytics Institute, 31.Oct.2024) â TotalEnergies chairman and CEO Patrick PouyannĂ© told analysts during the company’s third-quarter 2024 (3Q:24) webcast that the French company wants its money in Argentina. “Argentina is a specific country where you cannot repatriate dividends freely. So as long as it remains the same, […]
COP Reports 3Q:24 Results, Boosts Quarterly Dividend (PDF Downloads)
(ConocoPhillips, 31.Oct.2024) â ConocoPhillips reported third-quarter 2024 earnings of $2.1bn, or $1.76 per share, compared with third-quarter 2023 earnings of $2.8bn, or $2.32 per share. Excluding special items, third-quarter 2024 adjusted earnings were $2.1bn, or $1.78 per share, compared with third-quarter 2023 adjusted earnings of $2.6bn, or $2.16 per share. […]
AES Reports 3Q:24 Results; Boasts 1.2 GW of Construction (PDF Download)
(AES, 31.Oct.2024) â The AES Corporation reported financial results for the quarter ended 30 Sep. 2024. “Our third quarter financial results and strategic accomplishments were very much in line with our expectations. Since our last call, we have signed or been awarded 2.2 GW of long-term contracts for renewables or […]
Woodside and Tokyo Gas in Discussions Over Stake in US LNG Project
(Reuters, 31.Oct.2024) â Tokyo Gas is in talks with Woodside Energy over taking a stake in a multi-billion-dollar Louisiana liquefied natural gas (LNG) export project, according to two people familiar with the discussions. Woodside, an Australian oil and gas producer, this month closed on a $1.2 billion buy of developer […]
TotalEnergies Reports 3Q:24 Results, Output of 2.41 MMboe/d (PDF Downloads)
(TotalEnergies, 31.Oct.2024) â TotalEnergies SE reported its third quarter 2024 (3Q:24) results, including upstream production of 2.41 MMboe/d. Production benefited from the ramp up of Mero 2 in Brazil that partially offset production losses at Ichtys LNG and in Libya. ____________________
Petrobras 3Q:24 Hydrocarbon Production in Two Charts
(Energy Analytics Institute, 31.Oct.2024) â Brazil’s state-owned Petrobras reported total hydrocarbon production of 2,689 Mboe/d in the third quarter 2024 (3Q:24), down 0.8% sequentially compared to the 2Q:24 and down 7.9% compared the 3Q:23. RELATED STORY: Petrobras Reports 3Q:24 Output of 2.7 MMboe/d (PDF Download) Importantly, Petrobras was forced to […]
EAIâs NRGBriefs Oct. 2024: GranMorgu, Uchuva gas potential offshore Colombia
HOUSTON, TEXAS (Energy Analytics Institute, 31.Oct.2024) â Energy briefs as well as others related to finance and projects during Oct. 2024 including TotalEnergies and APA Corp. announcing a $10.5bn FID for the GranMorgu development on Block 58; Mexico Pacific and its $15bn FID for the first phase of Saguaro EnergĂa […]
Mark the Date: 3rd Caracas Gas Forum 2024 Set for 7 Nov.
(Energy Analytics Institute, 30.Oct.2024) â Participate in the third edition of the Caracas Gas Forum 2024, which will focus on promoting decarbonization and security of regional supply. ____________________ By Editors at Energy Analytics Institute. More online at www.Energy-Analytics-Institute.org NOTE: Energy Analytics Institute (EAI) is an official media partner for the […]
Exxon to Sell its Vaca Muerta Assets to Pluspetrol
(Reuters, 30.Oct.2024) â U.S. energy giant Exxon Mobil agreed on the terms and conditions to sell its oil and gas assets in Argentina’s Vaca Muerta formation to Pluspetrol, a source at Exxon Mobil said on Wednesday. Exxon will sell five blocks in Argentina’s western Neuquen province, home to Vaca Muerta, […]
Marathon Oil Cuts 500 Houston Jobs
(Bloomberg, 30.Oct.2024) â Marathon Oil Corp. warned of a âmass layoffâ involving more than 500 employees at its Houston headquarters as part of the $17 billion takeover by ConocoPhillips, according to state filings. The affected workers âmay reasonably expect to experience a permanent loss of employment during the 12-month periodâ […]
Mexico’s Sheinbaum looks to reduce costs at state-owned energy giant Pemex
MEXICO CITY, MEXICO (Fidencio Casillas, Energy Analytics Institute, 30.Oct.2024) â Mexicoâs President Claudia Sheinbaum Pardo said the main plan for state-owned Pemex was to make the company more efficient internally. Sheinbaum told the media that Pemex had three subsidiaries and 40 affiliates, which made it complex to administer the company.
Cheniere Reports 3Q:24 Results, Updates on Dividend (PDF Downloads)
(Cheniere, 30.Oct.2024) â Cheniere Energy, Inc. announced its financial results for the third quarter 2024 as well as details around producing and loading its 1,000th LNG cargo, its dividend, comprehensive capital allocation plan, voluntary, measurement-informed Scope 1 methane emissions intensity target for its liquefaction facilities. ____________________
Mero 3 FPSO Starts Production in Libra Pre-salt Offshore Brazil
(Energy Analytics Institute, 30.Oct.2024) â Brazil’s state-owned Petrobras announced that on 30 Oct. 2024 the Marechal Duque de Caxias platform ship (Mero 3) has started producing oil and gas in the Mero field located in the Libra Block in the Santos Basin’s pre-salt layer. Nero 3 can produce up to […]
JinkoSolar on Annual Capacities: Solar Cell and Solar Module
(Energy Analytics Institute, 30.Oct.2024) â JinkoSolar Holding Co., Ltd. expects its annual production capacity for mono wafer, solar cell and solar module to reach 120.0 GW, 95.0 GW and 130.0 GW, respectively, by year-end 2024, the company announced 30 Oct. 2024 in its 3Q:24 financial and operational statement. Additionally, as of 30 Oct., […]
JinkoSolar Releases 3Q:24 Financial Results (PDF Downloads)
(JinkoSolar, 30.Oct.2024) â JinkoSolar Holding Co., Ltd., one of the largest and most innovative solar module manufacturers in the world, announced its unaudited financial results for the third quarter ended 30 Sep. 2024. ____________________
Seaway7 Awarded Offshore Wind Contract in UK
(Energy Analytics Institute, 30.Oct.2024) â Subsea7 announced the award to Seaway7, part of the Subsea7 Group, of a substantial contract by Ărsted for the transport and installation of the inter-array cables of the Hornsea 3 offshore wind project located in the UK sector of the North Sea. Subsea7 defines a […]
Hess says net production in Guyana in 3Q:24 rose 57% year-over-year
HOUSTON, TEXAS (Pietro D. Pitts, Energy Analytics Institute, 30.Oct.2024) â New York City-based Hess Corporation said its net production in the prolific Stabroek block offshore Guyana was 170,000 b/d in the third-quarter 2024 (3Q:24), up 57% year-over-year (YOY) compared to 108,000 b/d in the 3Q:23. Higher production in the 3Q:24 […]
Cheniere Sets Methane Emissions Intensity Target for its Liquefaction Assets
(Cheniere, 30.Oct.2024) â Cheniere Energy, Inc. has set a voluntary, measurement-informed Scope 1 annual methane intensity target for its liquefaction facilities. The Scope 1 methane target builds upon the Companyâs robust climate strategy and leverages data from its multi-scale emissions measurement and mitigation programs. The methane target is consistent with […]
Petrobras Updates on Collective Action Judgement in the Netherlands
(Petrobras, 30.Oct.2024) â Petrobras, further to the Announcements to the Market of 29 Jan. 2020, 27 May 2021 and 26 Jul. 2023, hereby informs that the District Court of Rotterdam today handed down a favorable judgment on its main arguments in the collective action filed by the Stichting Petrobras Compensation […]
Hess Reports Higher 3Q:24 Adj. Net Income, Higher Bakken Output (PDF Download)
(Hess, 30.Oct.2024) â Hess Corporation reported net income of $498mn, or $1.62 per share, in the third quarter of 2024, compared with net income of $504mn, or $1.64 per share, in the third quarter of 2023. On an adjusted basis, the corporation reported net income of $660mn, or $2.14 per […]
Pemex Reveals 3Q:24 Results, 1.8 MMb/d Output Goal (PDF Downloads)
(Pemex, 29.Oct.2024) â During the third-quarter 2024 (3Q:24) PetrĂłleos Mexicanos (Pemex) maintained its commitment to provide timely support for operations, employing resources responsibly and efficiently. The Exploration and Production strategy prioritized activities in shallow waters and onshore areas, primarily focusing on promoting the accelerated development of new fields and reducing […]
Canada’s Renewable Diesel Projects hit by US Import Surge
(Reuters, 29.Oct.2024) â Canadian renewable fuel producers are facing lower returns on new facilities due to a slump in British Columbia’s low carbon fuel standard (LCFS) credit market, a trend expected to persist amid a flood of exports from the United States. Weakness in British Columbia’s LCFS credit market reflects […]
EQT Divests Remaining Non-Operated Assets to Equinor
(Energy Analytics Institute, 29.Oct.2024) â EQT Corporation has entered into an agreement with Equinor USA Onshore Properties Inc. and Equinor Natural Gas LLC to sell its remaining interest in its non-operated natural gas assets in Northeast Pennsylvania. Production from the assets is expected to be around 350 MMcf/d net in […]
Chevron CEO Mike Wirth Visits Anchor Platform (Video)
(Chevron, 29.Oct.2024) â Chevron Corporation Chairman and CEO, together with CNBC, flew out to the U.S. Gulf of Mexico to visit the Anchor Platform to film a segment on Squawk on the Street and a full episode of Mad Money were broadcast live on October 24. ____________________
FACTSHEET: Chevronâs Anchor Platform
(Energy Analytics Institute, 29.Oct.2024) â Chevron Corporation revealed some key takeaways about its Anchor platform in the US Gulf of Mexico. Those takeaways include the following, Chevron said 29 Oct. 2024 in an official statement: â The resource potential at the platform is estimated to be up to 440 MMboe, â […]
Tecpetrol and Pampa EnergĂa Move Forward with Plans for BahĂa Blanca
(Energy Analytics Institute, 29.Oct.2024) â Vaca Muerta shale formation producers Tecpetrol and Pampa EnergĂa are reportedly moving forward with plans to utilize the BahĂa Blanca port area recently abandoned by state-owned YPF SA and its Malaysian counterpart Petronas in favor of another port at RĂo Negro. Tecpetrol, Argentina’s main shale […]
Equinor to Pay $1.25bn for EQT Interest in Northern Marcellus
(Energy Analytics Institute, 29.Oct.2024) â Equinor inked an agreement with EQT Corporation to acquire additional non-operated interest in the Northern Marcellus formation in the US. Equinor will pay $1.25bn to EQT in the transaction. Per the agreement, Equinor is acquiring 100% of EQTâs remaining working interest in Northern Marcellus gas […]
New Gold Announces Commercial Production at New Afton
(New Gold., 29.Oct.2024) â New Gold Inc. announced the completion of significant production milestones at the New Afton copper-gold mine in British Columbia and the Rainy River gold mine in Ontario. C-Zone, New Afton’s fourth block cave, achieved commercial production ahead of schedule with the materials handling system coming online […]
CNOOC Africa Inks EDPC with Midland Oil Company in Iraq
(Energy Analytics Institute, 29.Oct.2024) â CNOOC Limitedâs wholly owned subsidiary, CNOOC Africa Holding Ltd., entered into an Exploration, Development & Production Contract (EDPC) with Midland Oil Company (Md.O.C) for Block 7 in Iraq. Block 7 is mainly located in Province Diwaniyah, with an area of 6,300 km2, CNOOC said 29 […]
Expand to Running 12 Rigs, to Drop 2 in 1Q:25 (PDF Downloads)
(Energy Analytics Institute, 29.Oct.2024) â Expand Energy Corporation is currently running 12 rigs (8 in Haynesville, 2 in Northeast Appalachia, and 2 in Southwest Appalachia) as well as 6 completion crews (3 in Haynesville, 2 in Northeast Appalachia, and 1 in Southwest Appalachia). And, under current market conditions, Expand expects […]
Pemex’ 3Q:24 production averaged 1.76 MMb/d, while debt falls to $97.3bn
MEXICO CITY, MEXICO (By Fidencio Casillas, Energy Analytics Institute, 29.Oct.2024) â Mexico’s state-owned Pemex reported average liquids and condensate production of 1,764 Mb/d in the third-quarter 2024, of which 549 Mb/d or 31% reportedly came from new developments. In an official statement related by Pemex on 29 Oct. 2024, the […]
EPA Selects PCCA as Clean Ports Program Grant Recipient
(PCCA, 29.Oct.2024) â The Port of Corpus Christi Authority (PCCA) has been selected to receive $105mn through the United States Environmental Protection Agencyâs (EPA) Clean Ports Program to deploy zero-emissions equipment as a major step in reducing criteria air pollutants â those regulated by EPA because of health and environmental […]
Guy Mannino’s Leadership Puts Verdek at the Forefront of the EV Transition
(Verdek, 29.Oct.2024) â Our team had the opportunity to hear from one of the forerunners of EV infrastructure in the US, Guy Mannino. Considered a visionary leader in the field of sustainable transportation, with over three decades of experience in engineering, Mannino has dedicated his career to driving innovation in […]
Ecopetrol Announces Full Redemption of its Notes due 2026
(Ecopetrol, 29.Oct.2024) â Ecopetrol S.A. will redeem the outstanding balance of its 5.375% notes maturing in Jun. 2026 (CUSIP: 279158 AL3 / ISIN: US279158AL39) (the “2026 Notes”), which were issued in 2015. The outstanding balance of the 2026 Notes is $447,168,000. The expected redemption date of the 2026 Notes is […]
Electrification is the Accelerated Route to Energy Efficiency, Peak EmissionsÂ
(Wood Mackenzie, 29.Oct.2024) â The electrification of the energy system is the central plank of the energy transition. In Wood Mackenzieâs base case, displacing fossil fuels with more energy-efficient electricity leads to global emissions peaking in 2027 and subsequently falling by 35% through to 2050. Global final energy demand is […]
Constitutional reform to strengthen Pemex and CFE, Sheinbaum says
MEXICO CITY, MEXICO (By Piero Stewart, Energy Analytics Institute, 28.Oct.2024, Words: 185) â Mexico’s constitution reform is very important as it represents returning Pemex and the Federal Electricity Commission (CFE) to the Mexican people, Mexico’s president Claudia Sheinbaum Pardo told the media in Mexico City. To a certain point the […]
Egypt President Abdel Fattah el-Sisi Meets Eni CEO Claudio Descalzi
(Eni, 28.Oct.2024) â The President of the Arab Republic of Egypt, Abdel Fattah el-Sisi met today with Eni Chief Executive Officer Claudio Descalzi to follow up on Eni’s ongoing activities in the country and discuss areas of common interest and collaboration. Also in attendance were Egyptian Oil Minister Karim Badawi […]
Petrobras Reports 3Q:24 Output of 2.7 MMboe/d (PDF Download)
(Petrobras, 28.Oct.2024) â In 3Q:24, Petrobras‘ total production of oil, NGL and natural gas reached 2,689 Mboed, in line with 2QĂ24. The highlights were the production peak of FPSO Sepetiba, in the Mero field, with the start-up of 3 new producing wells, and the start-up of new wells in BĂșzios […]
Oil Cargo from Mexico en Route to Cuba Amid Power Crisis, Data Shows
(Reuters, 28.Oct.2024) â A tanker carrying about 400,000 barrels of oil departed from Mexico’s Pajaritos port and was on Monday en route to Cuba, where an acute energy crisis has left the island struggling to keep the lights on, shipping data showed. Cuba kept schools closed and non-essential workers home […]
Lower 48 LNG Exports to Reach 25.7 Bcf/d by Jan. 2030
(Energy Analytics Institute, 28.Oct.2024) â Assuming all the LNG export projects located in the Lower 48 that have taken a final investment decision (FID) and others expected to take FID go forward, the Lower 48 (including Mexican projects that utilize U.S. piped-gas) will have 28.5 Bcf/d of export capacity and […]
Sempra Earns Perfect Score on CPA-Zicklin Index
(Sempra, 28.Oct.2024) â Sempra has been recognized as a Trendsetter for the ninth consecutive year for its civic transparency by the Center for Political Accountability’s annual CPA-Zicklin Index of Corporate Political Disclosure and Accountability. Sempra received a perfect score of 100% and was named a “Model Code” company for demonstrating […]
Baker Hughes to Supply Petrobras with Flexible Pipe Systems
(Baker Hughes, 28.Oct.2024) â Baker Hughes announced significant contracts with Petrobras to provide 77 km of flexible pipe systems to be deployed in Brazilâs pre-salt fields. The agreement was signed 15 Oct. 2024, following an open tender. The multi-year project includes risers and flowlines for hydrocarbon production and associated gas […]