Dana Gas released its financial results for nine months ending 30 September 2024, reporting a decline in net profit of AED 410 million ($112 m), compared to AED 462 million ($126m) in 9M 2023, due to lower realized prices in condensate and LPG. Meanwhile, the company focused on driving cost and production optimization, especially in the KRI to offset the financial impact of these challenges.
Oil prices have risen slightly following the US presidential election, as investors weigh the potential impact of a Trump presidency on oil supply and the effects of an approaching hurricane in the Gulf Coast.
ADNOC has signed a 15-year Sales and Purchase Agreement (SPA) with SEFE Marketing and Trading Singapore, a subsidiary of Germany’s SEFE, for the supply of 1 million tons per annum (mtpa) of liquefied natural gas (LNG) to Europe.
Aramco announced on Tuesday a net income of $27.6 billion for the three months ending September 30, exceeding the company-provided median estimate of $26.9 billion. It also surpassed Citi's forecast of $26.3 billion in a research note issued in October.
Eni announced the closing for the sale to Hilcorp of 100% of the Nikaitchuq and Oooguruk assets owned in Alaska for a value of $1 billion.
Jereh Group and Petro Iraq for Oilfield Development Co., Ltd. have signed a development and production contract with Midland Oil Company of Iraq (MdOC) to jointly develop the Mansuriya gas field.
Petrofac has been awarded a multi-million-dollar contract by Bapco Upstream, known as Tatweer Petroleum, Bahrain Field Development Company W.L.L. to further enhance its production in Bahrain.
Kuwait Petroleum Corporation has signed a two-year agreement with Korea National Oil Corporation (KNOC) for the storage of up to 4 million barrels of crude oil within KNOC’s storage facility located in Ulsan.
Chevron announced its third-quarter 2024 results, reporting earnings of $4.5 billion, or $2.48 per diluted share, a decrease from $6.5 billion, or $3.48 per diluted share, reported in the same period last year. Despite the lower earnings, Chevron's results surpassed analyst forecasts, which had projected a revenue of $48.99 billion and an EPS of $2.43.
ExxonMobil reported earnings of $1.92 per share for Q3 2024, surpassing analysts' expectations of $1.88 per share. Although their year-to-date earnings decreased to $26.1 billion from $28.4 billion last year due to lower refining margins and natural gas prices, they offset this decline with record high liquids production and increased high-value product sales.
