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Oil down as deep Saudi price cut signals demand slip in Asia
- Further price declines are limited by supply disruptions in US after Hurricane Ida
Russian energy giants Rosneft and Gazprom post revenue increase for 1H21
- Gazprom's gas export volume to Turkey increased almost threefold to 14.6 billion cubic meters
bp posts $3.1 billion profit in 2Q21
- Company expects higher product demand during third quarter as COVID-19 restrictions continue to ease
Chevron posts $3 billion profit in 2Q21
-Second-largest US oil company's Q2 revenue totals $37.6 billion compared to $13.5 billion during same quarter last year
Italian Eni reports €247 million profit in 2Q21
- Company's revenue for April-June 2021 period reaches €16.6 billion compared to €8.4 billion for same quarter last year
TotalEnergies SE posts $2.2 billion profit in 2Q21
- Company CEO Patrick Pouyanne attributes positive results to progressive recovery of global demand and OPEC+ discipline
Saudi oil supremacy confronted by UAE's rejection of unconditional obedience
- Cartel's insistence of 'one-size-fits-all' approach results in UAE revolt, which may prompt more opposition, experts say
Oil giants increase profits to $46 billion in Q121
- BP records highest year-over-year rise in profit
OPEC+ reaffirms prior decision to gradually ease output till July
- Next meeting of OPEC and non-OPEC members scheduled for July 1
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Russian Lukoil records nearly $2.1 billion profit
- Company had posted full-year 2020 earnings of $206 billion, down 98% compared to $8.7 billion in 2019
ConocoPhillips posts $982 million income in 1Q21
- Company had posted fourth-quarter and full year 2020 losses of $0.8 billion and $2.7 billion, respectively
IMF revises down Saudi economic growth to 2.1% for 2021
- Budget deficit widened to 11.3% of GDP in 2020 as oil revenues fell and expenditure needs increased
ExxonMobil reports $2.7 billion profit in 1Q21
- Revenue for same period of year increases by 5.3% to reach $59.1 billion
Chevron posts $1.4 billion profit in 1Q21
- First-quarter net income of second-largest oil company in US plummets
Italian Eni reports €856 million profit in 1Q21
- Company’s revenue for January-March 2021 period reaches $14.8B compared to $14.1B for same quarter last year
Aramco, SABIC to realign petchems & fuel product sales
- Saudi Arabia’s national oil firm Aramco bought 70% stake in chemical manufacturer SABIC for $70 billion in June last year
Total increases income to over $3 billion in 1Q21
- Company fully benefited from rising oil and gas prices, says CEO Patrick Pouyanne
Saudi Arabia in talks to sell 1% stake in Aramco
- Firm's IPO is part of Vision 2030 initiative to steer country away from oil dependency
BP posts $4.7 billion profit in Q121
- Divestment strategy, business performance and oil price recovery ensured strong cash flow to deliver net debt target
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Halliburton posts net income, revenue loss in Q121
- Company posts $170 million net income in first quarter after recording around $1 billion loss in same quarter of last year
Baker Hughes posts 12% revenue decline in Q121
- 'We remain cautiously optimistic that global economy and oil demand will recover from impact of global pandemic,' says CEO
S. Arabia grants oil to Yemen to prevent power outages
- Yemen struggles with frequent power outages due to depletion of diesel fuel used in power plants
Oil-rich Saudi Arabia branches into solar power
- Saudi Arabia's latest steps on solar energy will help the country reach 3,670 megawatts of solar capacity
Brent leaps over alleged attacks on Aramco facilities
- Tensions in region were already heightened after cyber-attack on Iran’s main nuclear facility on Sunday
Aramco signs $12.4B infrastructure investment deal
- Newly-formed Aramco subsidiary, Aramco Oil Pipelines Company, will lease usage rights in Aramco’s stabilized crude oil pipelines network for 25-year period
Aramco in talks to sell over $10B oil pipeline stake
- Deal to transfer up to 49% share to consortium including US, Chinese and local investors could be announced this week
Siemens Energy signs long-term service deal with Aramco
-15-year agreement covers power supply at four major oilfields of Saudi Arabia’s state oil company
OPEC+ meeting begins with cautious optimism
- Saudi energy minister warns OPEC+ should maintain cautious stance until evidence of recovery is undeniable