Saudi Arabia’s national oil company, Saudi Aramco is reported to have appointed Khalid al-Dabbagh as its vice president of finance. It would be recalled that Reuters reported on June 5 that Dabbagh took over the finance department on an interim basis at the world’s largest oil producer, succeeding Abdallah al-Saadan.
Brazil’s Petrobras said it has received a return of R$ 1.034 billion in the car wash corruption trials and negotiation. Petrobras said in a statement that the funds were recovered through cooperation and leniency agreements signed with individuals and legal entities by the Federal Public Prosecutor’s Office in Curitiba and […]
Savannah Petroleum said it has signed a legally binding Memorandum of Understanding between Savannah’s Niger subsidiary and the Republic of Niger. The company said in a statement that the MOU affirms both Parties’ commitment to the realisation of a proposed early production scheme utilising crude oil resources associated with Savannah’s […]
Royal Dutch Shell said it will decide whether to go ahead with the development of Bonga Southwest offshore oilfield in Nigeria’s Niger Delta. Quoting Reuters News, a senior executive at Shell, the company projected that it will generate profit at below $50 a barrel Shell said it is currently negotiating […]
Total said the Ichthys LNG Project reached a major milestone on July 27 with the opening of the first offshore production well, marking the start of 40 years of operations of this gas and condensate field. Total said in a statement that at full capacity, the offshore facilities are expected […]
World’s largest oil company, Exxon Mobil said its second-quarter 2018 earnings jumped to $4 billion, The result is a positive when compared with $3.4 billion a year earlier. Cash flow from operations and asset sales was $8.1 billion, including proceeds associated with asset sales of $307 million. Exxon noted in the disclosure that during the […]
Oil and energy giant, Chevron said its earnings of $3.4 billion for second quarter 2018, compared with $1.5 billion reported in the second quarter of 2017. “Second quarter earnings were up significantly from a year ago,” said Chairman and CEO Michael Wirth. “Results in 2018 benefited from higher crude oil prices, […]
Italian oil giant, Eni said its operating profit for the second quarter of the year rose by 38% on the back of stronger Brent crude price. Claudio Descalzi, CEO of Eni, said: “Eni recorded another period of strong profitability in the second quarter. In the context of a 38% rise […]
Nigeria’s Oando Plc said its profit after tax for the first half of the year rose by 86%, N8.5 billion compared to N4.6 billion post last year. Revenue for the integrated energy company increased by 11%, N297.3 billion compared to N267.0 billion disclosed last year. Commenting on the results Wale […]
BOC Gases Plc has just released its second quarter 2018 results: Gross revenue: N739 million versus N609 million last year Net profit: N101 million versus N79 million last year Total asset: N4.4 billion versus N4.2 billion last year (six months period) Total liabilities: N1.9 billion versus N1.8 billion in 2017.