Companies

Saudi Aramco has reported a fall in first-quarter net income, reflecting the turbulence of global energy markets and softer oil prices. However, the state-controlled oil giant underscored its commitment to shareholder returns with an increased base dividend, even as it recalibrates its overall payout strategy for the year to align …

Shell’s plans to juice output from its deepwater Perdido development in the U.S. Gulf of Mexico just ran into a delay-shaped pothole. Two new wells intended to lift production from the Great White unit—one of the stars of the Perdido complex—won’t come online until the end of the year, the …

U.S. supermajor ExxonMobil plans to invest as much as $1.5 billion in deepwater oil and gas exploration and development offshore Nigeria, the local regulator, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has said. Exxon sold last year its onshore assets to local firm Seplat Energy, but is committed to offshore …

Natural gas production from the massive discovery in the Black Sea offshore Romania is expected to begin in 2027, Austria’s energy giant OMV said on Wednesday, adding that the project, Neptun Deep, is advancing as scheduled. Drilling for the first of ten wells began in March this year and is …

Equinor reiterated on Wednesday it plans to return $9 billion to shareholders in dividends and buybacks this year despite a slight miss in its first-quarter earnings. The Norwegian energy giant reported today adjusted operating income after tax of $2.25 billion for the first quarter of 2025, down from $2.57 billion …

Eni has confirmed an oil discovery at the Capricornus 1-X well in the Orange basin offshore Namibia. The drilling took place in Petroleum Exploration Licence 85 (PEL85), operated by Rhino Resources with a 42.5% working interest. Azule Energy, a joint venture between Eni and bp, also holds a 42.5% stake, …

Chinese state-controlled refining giant Sinopec has returned to buying Russian crude oil after halting purchases last month due to concerns about the U.S. sanctions on Russia’s oil trade and shadow tanker fleet imposed in January, trade sources told Reuters on Wednesday. Sinopec, the biggest refiner in Asia by processing capacity, …

U.S. crude oil production is set to peak at around 14 million barrels per day (bpd) in 2027, according to the Annual Energy Outlook 2025 of the U.S. Energy Information Administration (EIA). U.S. oil production is set to remain around the 14 million bpd level by 2030 and in the …

TotalEnergies expects its first-quarter oil and gas production to have increased by almost 4% on the year to the high end of the quarterly guidance range of 2.5 to 2.55 million barrels of oil equivalent per day (boe/d). The French supermajor, which reports full quarterly results on April 30, announced …

Italy’s Eni will invest around € 8 billion in Libya over the next four years to boost energy production, Reuters‎ reported Eni CEO Claudio Descalzi saying last Tuesday. The amount will be part of a € 24 billion euros ($26.24 billion) to be invested in Algeria, Libya and Egypt over …