Energy company Repsol’s adjusted net profit fell 27% year-on-year in the third quarter because of lower oil and gas prices, it said, adding it would further diversify into renewables to offset fossil fuel volatility
Shell plans to increase its oil production by 5,000 barrels per day (bpd) in Argentina’s Vaca Muerta shale formation to 50,000 bpd by the end of the year, despite limitations on investments
Brazilian state-run oil company said it has decided to halt some key asset sales after concluding a broad revision of divestment processes, which were launched during the country’s previous administration
European oil majors Eni and Repsol plan to expand an oil-for-debt deal with Venezuela under U.S. approval, aiming to supply refined products to state firm PDVSA and boost oil deliveries to Europe
Easing sanctions has been a carrot held out in the past by the U.S., but which so far has resulted in very few authorizations, including one to Chevron Corp that has allowed the firm to expand operations in Venezuela and export its oil to the United States since November
Argentina’s economy ministry said it will freeze fuel prices until October 31 after an agreement with the industry as a measure to help tamp down triple-digit inflation
Separately, the company released its results for the second quarter, which – as expected – were hit by lower energy prices
Mexican oil company Pemex estimates that a deadly fire on a major offshore platform off the southern edge of the Gulf of Mexico has led to the loss of seven lakh barrels of crude oil production so far, while one person remains missing, the CEO of the state company said
The world’s oil and gas companies should set targets to cut greenhouse gas emissions by 2030 at the upcoming COP28 global climate conference, the CEO of France’s TotalEnergies Patrick Pouyanne said
Saudi Aramco believes market fundamentals remain “sound” for the second half as demand from emerging markets led by China and India will offset recession risk in developed markets, CEO Amin Nasser told an industry gathering
