Edison Records Rise in Net Income in Q3 2023
Edison International has announced its third-quarter net income of $155 million, or $0.40 per share, compared to net loss of $128 million, or $0.33 per share, in the third quarter of last year.
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Uganda to Hand Over Petroleum Supply Deal to Vitol
Uganda plans to hand over rights for the supply of all petroleum products to a unit of global energy trader Vitol. This deal aims to end the current system, which sources oil products through neighboring Kenya, said Uganda's Energy Minister, Ruth Nankabirwa, highlighting the need for a more secure and efficient supply chain.
Parliament Approves Three Draft Laws for E&P
The approved laws include one submitted by the government to allow El Molla to contract with the Egyptian Gas Holding Company (EGAS) and ExxonMobil Egypt Upstream Limited to explore for crude oil and use it in the Cairo Offshore block in the Mediterranean.
The Introduction of the CLIMATECH Challenge at the Seventh Edition of Egypt Energy Show (EGYPES)
The Egypt Energy Show and Conference (EGYPES) has announced that it will witness the launch of the first forum of "Climate Technology Challenge" in the region during its seventh edition that will be held during the period between 19 -21 February 2024.
TechnipFMC Revenues Surge in Q3 2023
TechnipFMC has announced a total revenue of $2,056.9 million, with an income from continuing operations attributable to TechnipFMC of $90 million. Adjusted income from continuing operations was $93.7 million, or $0.21 per diluted share.
Shell, QatarEnergy Sign Long-Term LNG Agreement
Shell and QatarEnergy signed a long-term LNG sale and purchase agreement (SPA) for the development of the North Field East (NFE) project in Qatar to supply up to one million tons per annum (MTPA) of LNG from Qatar to Italy’s FSRU, which is currently located in the port of Piombino in Italy’s Tuscany region and is expected to receive LNG in 2026 with a duration of 27 years.
Baker Hughes Achieves $6.6B in Revenues in Q3 2023
Baker Hughes has announced that it has achieved revenues of $6.6 billion in Q3 2023, up 24% year-over-year (YoY).
Chevron to Acquire Hess in $53B Stock Deal
Chevron has announced that it entered into a definitive agreement with global independent energy Hess Corp. to acquire its shares for $53 billion, or $171 per share based on Chevron’s closing price on October 20, 2023.
New Incentives for Converting Vehicles to Natural Gas
Minister of Petroleum and Mineral Resources Tarek El Molla has held a meeting with a number of officials from the ministry, the Egyptian Natural Gas Holding Company (EGAS), and natural gas companies for cars to review the progress of the initiative to promote natural gas as an alternative car fuel.
SLB Achieves $1.12B in Net Profits in Q3 2023
SLB has reported its third quarter results of 2023 (3Q23), achieving a net profit of $1.12 billion in the third quarter of 2023, or $0.78 per share, compared to a net gain of $907 million, or $0.67 per share, in the same period a year ago.
