Tag Archives: World Oil

Saudi Aramco announced its full-year 2022 financial results, reporting a record net income of $161.1 billion — its highest annual profits as a listed company. Aramco also declared a fourth quarter dividend of $19.5 billion, to be paid in the first quarter of 2023. The results were underpinned by stronger …

Despite the exodus of almost every Western oil company, Russia can maintain crude oil production longer than many expect, according to S&P Global Vice Chairman Dan Yergin. “There’s going to be a decline but it’s going to be a slower decline,” Yergin told Bloomberg TV at the CERAWeek by S&P …

Eni has closed on the acquisition of BP business in Algeria, regarding the two gas-producing concessions “In Amenas” and “In Salah”, which are jointly operated with Sonatrach and Equinor. The transaction has been approved by the competent national and antitrust authorities. The operation was announced in early September, with the …

Saudi Arabia’s Aramco is considering an investment in a liquefied natural gas (LNG) facility outside the kingdom, as global demand for the fuel soars following Russia’s invasion of Ukraine. The state energy company is in early discussions with LNG plant developers to procure a stake and secure supplies through an …

Eni SpA posted a record annual profit due to high oil and gas prices, despite its fourth quarter missing estimates. The Italian energy giant followed its peers with stellar earnings for 2022, after Russia’s invasion of Ukraine sent the value of key commodities soaring. While the cost of energy has …

Russian companies got far more money from selling the country’s oil than previously thought in the weeks that followed the imposition of a price cap on the nation’s exports, a group of academics said. The research weakens the idea that the price limits are crushing Moscow’s revenue to fund the …

Europe is boosting the amount of crude it imports from Angola as the continent’s ban on Russian oil upends typical trade routes. More than 40% of Angola’s 32 crude cargoes for loading this month are bound for destinations west of the Suez Canal — mostly to Europe as well as …

Amid a wall of screens in the control room of Equinor ASA’s Johan Sverdrup oil field in the North Sea ticks a tally of the day’s oil production — and a measure of Norway’s growing importance to Europe’s energy security. On Feb. 13, that figure hovered around 720,000 bpd. “By …

Libya’s state energy firm said it expects to sign more deals with foreign companies after Eni SpA agreed to invest $8 billion to extract natural gas in the North African country. Libya’s abundance of oil and gas reserves — among the largest in Africa — and its proximity to Europe …

TotalEnergies has approved the final investment decision of the Lapa South-West oil development in the Santos Basin, 300 km off the coast of Brazil. This development represents an investment of approximately $1 billion. “This latest development is an important milestone for TotalEnergies in Brazil that will increase its operated production …