Aramco Announces $42.4B Net Income in Q3 2022
Aramco announced its Q3 performance for 2022, stating that it has made a $42.4 billion net income in Q3 2022, compared to $30.4 billion in Q3 2021.
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Egypt Energy Provides Venue for Collaboration Opportunities
The second day of the Egypt Energy Conference and Exibition has witnessed a great success and attracted many energy leaders who are seeking to look into new collaboration opportunities.
ExxonMobil Makes Profits of $19.7B for Q3 2022
Exxon Mobil Corporation reported earnings of $19.7 billion for the third quarter of 2022, or $4.68 per share assuming dilution. The third-quarter results included one-time advantages from tax and other reserve adjustments as well as net favorable identified items of over $1 billion related to the completion of the XTO Energy Canada and Romania Upstream subsidiary divestments, which were partially offset by impairments.
UOG’s ASH-4 Well to Reach TD Soon
United Oil & Gas company stated that it expects to drill the ASH-4 well to its total depth (TD) during the coming days after which it will be tested and completed.
African Countries to Push for Energy Transition Justice
A few days before the global climate talks in Sharm El-Sheikh, a group of African energy senior officials stressed the necessity of unifying the African voice during COP27 to achieve climate justice, which would allow them to make effective use of their resources. In one way or another, the African energy sector leaders have expressed a common position that sees fossil fuels as necessary for expanding their economies.
Baker Hughes Announces Increased Quarterly Dividend and Upsized Share Repurchase Authorization
Baker Hughes declared that the Baker Hughes Board of Directors declared an increased quarterly cash dividend of $0.19 per share of Class A common stock payable on November 18, 2022, to holders of record on November 7, 2022. The dividend increase represents a 5.5% growth rate, or $.01, above the payout from the prior quarter.
TotalEnergies Achieves Profits of $9.9B in Q3
TotalEnergies reported a substantial increase in net profit for the third quarter compared to the same period last year, joining other energy titans in the sector in benefiting from higher oil and gas prices, albeit it also recorded a new impairment relating to Russia.
ExxonMobil Announces Two New Guyana Discoveries
ExxonMobil announced two discoveries at the Sailfin-1 and Yarrow-1 wells in the Stabroek block offshore of Guyana, which will be a significant contribution to the company's extensive portfolio.
El Molla Chairs the 24th Ministerial Meeting of GECF
The 24th Ministerial Meeting of the Gas Exporting Countries Forum (GECF) was held on 25 October 2022 in Cairo and chaired by Tarek El Molla, Minister of Petroleum and Mineral Resources of Egypt, in his capacity as President of the GECF Ministerial Meeting for 2022.
