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Tencent Music hits low pitch after first earnings report exposes costs

3 days ago DieselGasoil Comments Off on Tencent Music hits low pitch after first earnings report exposes costs
BEIJING (Reuters) – Chinese streaming firm Tencent Music Entertainment Group delivered its first earnings report as a public company, meeting market expectations but exposing soaring license and content production costs which pulled its shares down 6 percent. Tencent Music Entertainment company is seen officially listed on the floor of the New York Stock Exchange (NYSE) Read More

Google, Chevron execs say industry must keep up with data transformation, other tech trends

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By Kurt Abraham, Editor-in-Chief on 3/19/2019 At the Norwegian Energy Day on Tuesday, March 19, hosted by the Norwegian Consulate General and several corporate sponsors, speakers from Google and Chevron told the audience that the oil and gas industry needs to do more, and do it faster, to adapt to the digital transformation and other Read More

Amazon's second headquarters faces new blocks in Virginia funding vote

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WASHINGTON (Reuters) – Amazon.com Inc’s plan to set up a second headquarters in northern Virginia, after being rebuffed in New York, will face its first test when local officials vote on Saturday on a proposed financial package worth an estimated $51 million. People move about in front of the rostrum before a news conference about Read More

Batteries included: Sweden's emissions-free ferries lead the charge

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HELSINGOR, Denmark (Reuters) – A quiet revolution has taken place in the Oresund Strait between Sweden and Denmark where two of the world’s largest battery-powered ferries ply the waters after being converted from polluting diesel (gasoil) power. The Tycho Brahe and Aurora ferries operated by Sweden’s ForSea are over 100 meters long and work the Read More

Exxon aims for $15/bbl costs in large Permian operation

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By Kevin Crowley on 3/14/2019 HOUSTON (Bloomberg) — Exxon Mobil plans to reduce the cost of pumping oil in the Permian to about $15/bbl, a level only seen in the giant oil fields of the Middle East. The scale of Exxon’s drilling means that it can spread its costs over such a big operation that Read More

CERA Week 2019 Day 2 – Leadership

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By michele cowart, news editor on 3/13/2019 During Day 2 of CERAWeek 2019, the leadership dialogue continued with Chevron Chairman of the Board and CEO Mike Wirth, who spoke to the crowd about Chevron’s goals in the Permian basin and Gulf of Mexico. The super-major touts remote geosteering as a key to drilling in the Read More

API applauds government focus on timely approvals of LNG export facilities

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3/12/2019 WASHINGTON — The American Petroleum Institute issued a statement today supporting the Department of Energy’s (DOE) non-Free Trade Agreement export authorization for Venture Global’s Calcasieu Pass liquefied natural gas (LNG) export facility last week, along with the introduction of a Senate bill designed to speed the Federal Energy Regulatory Commission’s (FERC) reviews of LNG Read More

Shale on brink of MandA as oil majors flex muscles in Permian

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By Kevin Crowley on 3/11/2019 HOUSTON (Bloomberg) — Cowboy boots and turquoise belt buckles are giving way to smart suits and silk ties as the world’s biggest shale oil field prepares for mergers. As oil executives from across the world gather in Houston for the annual CERAWeek by IHS Markit conference, the Permian basin in Read More

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

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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