Category: Companies

Saudi Aramco returns to debt market with dollar bond sale

Saudi state oil giant Aramco made its return to the debt market after a three-year hiatus, joining top companies and governments in the Gulf that have tapped markets this year to fund investments

BP shares drop after weak Q2 operating results

Shares of BP traded lower after the company revealed its operations update for the second quarter of fiscal year 2024, with oil operations expected to be weak following a strong first quarter

Vaca Muerta sets a new activity record

In June, activity in the formation was once again led by YPF, with a total of 886 fractures. They were followed by Argentina’s Vista with 226 fractures and the U.S. company Chevron with 208 fractures

Vista Oil & Gas imports new fracturing equipment to accelerate production in Vaca Muerta

Vista, the second-largest unconventional hydrocarbons operator in Argentina, announced that it will import a second fracturing set to accelerate its activity Vaca Muerta

Russia’s Gazprom reduced gas output to all-time annual low in 2023

Russian energy giant Gazprom Group GAZP.MM cut natural gas production by 13% to an all-time annual low of 359 billion cubic metres (bcm) in loss-making 2023 from 412.94 bcm in 2022, the company said in its annual report

ConocoPhillips to buy Marathon Oil

ConocoPhillips, considered one of the largest oil companies in the United States, has agreed to acquire its smaller rival Marathon Oil for $17.1 billion in stock plus an additional $5.4 billion in debt

Energy producers Santos, Repsol explore sale of stakes in Alaska

Oil and gas producers Santos and Repsol are exploring a sale of a minority stake in oilfields in Alaska they jointly own and develop in a deal that could be worth about $1 billion

Chevron earns €5.146 billion in Q1

The oil company Chevron announced a net profit of $5.501 billion (approximately €5.146 billion) in the first quarter of 2024, a 16% decrease compared to the same period the previous year

Repsol’s Q1 profit tumbles by a third but better than expected

Quarterly adjusted profit fell to 1.27 billion euros ($1.4 billion), ahead of a company-provided average forecast from analysts of 1.19 billion euros

US oil and gas M&A hits quarterly record after blockbuster 2023

U.S. oil and gas deals hit a record $51 billion in the first quarter, a continuation of last year’s fierce merger pace centered in the top U.S. shale field, data provider Enverus said