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CNOOC reports 2018 reserves, producton, profit increase

21 hours ago DieselGasoil Comments Off on CNOOC reports 2018 reserves, producton, profit increase
3/22/2019 Photo: CNOOC. HONG KONG — CNOOC Limited has announced its 2018 annual results for the year ended December 31, 2018. In 2018, CNOOC Limited expanded its oil and gas reserves and production at a steady pace, strengthened its cost control and achieved remarkable results. Total net oil and gas production of the company achieved Read More

ExxonMobil delays $1.9 billion Canada project amid oil-sands woes

5 days ago DieselGasoil Comments Off on ExxonMobil delays $1.9 billion Canada project amid oil-sands woes
By Kevin Orland on 3/17/2019 CALGARY (Bloomberg) — ExxonMobil Corp. is delaying a C$2.6 billion ($1.9 billion) oil-sands project in Canada by at least a year as the nation’s energy industry grapples with a shortage of pipeline space and government-mandated production cuts. Exxon’s Canadian subsidiary, Imperial Oil Ltd., had originally planned to bring the 75,000-bopd Read More

Venezuela's “badly broken” oil sector needs outside help

1 week ago DieselGasoil Comments Off on Venezuela's “badly broken” oil sector needs outside help
By Lucia Kassai, David Wethe and Joe Carroll on 3/13/2019 HOUSTON (Bloomberg) — Venezuela’s opposition leader is rolling out the welcome mat to foreign investors who want a piece of the world’s largest oil reserves. In a major break from the policies of President Nicolas Maduro and his late predecessor Hugo Chavez, Venezuelan opposition chief Juan Read More

Amazon domain battle rages on as internet overseer postpones decision

2 weeks ago DieselGasoil Comments Off on Amazon domain battle rages on as internet overseer postpones decision
BRASILIA (Reuters) – Brazil on Monday thanked the global body that oversees Internet addresses for extending until April a deadline for Amazon basin nations to reach a deal with Amazon.com Inc in their seven-year battle over the .amazon domain name. FILE PHOTO: An employee of Amazon walks through a turnstile gate inside an Amazon Fulfillment Read More

US could soon take Saudi crown to become top global oil exporter – IEA

2 weeks ago DieselGasoil Comments Off on US could soon take Saudi crown to become top global oil exporter – IEA
The US could overtake Russia and Saudi Arabia as the world’s top oil exporter by 2024, the International Energy Agency (IEA) has predicted. In its annual oil outlook, the agency forecast rapid growth of American oil supplies to the global market in the next five years, as output from the country’s shale fields continues to Read More

Exxon Mobil CEO sets plan to boost spending; shares dip

2 weeks ago DieselGasoil Comments Off on Exxon Mobil CEO sets plan to boost spending; shares dip
NEW YORK (Reuters) – Exxon Mobil Corp plans to boost capital spending for several years, CEO Darren Woods said on Wednesday, and the largest U.S. oil company’s shares fell after he laid out a strategy to “lean in” while the rest of the industry cuts back. FILE PHOTO: Darren Woods, Chairman & CEO of Exxon Read More

Shawcor Ltd. Announces Fourth Quarter 2018 Results

2 weeks ago DieselGasoil Comments Off on Shawcor Ltd. Announces Fourth Quarter 2018 Results
Fourth quarter 2018 revenue was $354 million, an increase of 1% from the $351 million reported in the third quarter of 2018 and 17% lower than the $427 million reported in the fourth quarter of 2017. Adjusted EBITDA1 in the fourth quarter of 2018 was $24 million, a decrease of 37% from the $38 million Read More

Exxon Mobil CEO sets plan to boost spending; shares sink

2 weeks ago DieselGasoil Comments Off on Exxon Mobil CEO sets plan to boost spending; shares sink
NEW YORK (Reuters) – Exxon Mobil Corp said on Wednesday it plans to open its wallet and boost spending for several years to restore flagging oil and gas production, but its shares fell as investors were disappointed that the oil company would not tighten spending and send more money back to shareholders. FILE PHOTO: A Read More

Exxon lifts spending to levels last seen in pre-crash heyday

2 weeks ago DieselGasoil Comments Off on Exxon lifts spending to levels last seen in pre-crash heyday
By Kevin Crowley on 3/6/2019 HOUSTON (Bloomberg) — Exxon Mobil Corp. raised its spending target to heights not seen since the historic oil-market collapse began in 2014, bucking the cost-cutting trend among rival energy explorers. Shares dropped, making Exxon the day’s worst-performing blue-chip stock. Exxon said annual capital outlays will average $32 billion through the Read More

Aramco comes out to play on an empty playground

1 month ago DieselGasoil Comments Off on Aramco comes out to play on an empty playground
By Liam Denning on 2/14/2019 Manifa oilfield. Photo: Saudi Aramco. NEW YORK (Bloomberg Opinion) — According to Khalid Al-Falih, Saudi Arabia’s energy and industry minister and chairman of Saudi Arabian Oil Co., “the world is going to be Saudi Aramco’s playground.” If it is, then that will be partly because some others have ceded ground. In Read More