Equinor delivered adjusted earnings* of USD 12.0 billion and USD 3.51 billion after tax in the first quarter of 2023. Net operating income was USD 12.5 billion, and net income was USD 4.97 billion. The first quarter was characterised by: Strong earnings and cash flow across the business Solid...
https://www.hellenicshippingnews.com/equinor-first-quarter-2023/
Kazakhstan’s April daily crude oil output excluding gas condensate rose by 4% from March to 1.6 million barrels, according to Reuters calculations based on data from two sources with knowledge of the preliminary statistics. That’s slightly below Kazakhstan’s 1.628 million barrel per day (bpd) April...
https://www.hellenicshippingnews.com/kazakhstans-crude-oil-output-in-april-up-4-from-march-sources/
U.S. shale producer ConocoPhillips beat Wall Street estimates for first-quarter profit on Thursday as sustained fuel demand and tight crude supplies kept oil prices elevated. Benchmark Brent crude averaged $81.24 a barrel in the first three months of 2023, nearly 20% lower than last year but still...
U.S. crude oil production averaged 12.3 million barrels per day (b/d) during the week ending April 28, up by 100,000 b/d from the previous week, the U.S. Energy Information Administration (EIA) said Wednesday. The figure was up by 400,000 b/d from this time last year, according to the EIA. More...
https://www.hellenicshippingnews.com/u-s-crude-oil-production-up-last-week-2/
Energy giants Shell (LON:RDSa) and Equinor reported higher-than-expected first-quarter profits on Thursday, using the heft of their trading desks to offset lower oil and gas prices. The stronger-than-expected profits from the two companies follow forecast beating results from rivals Exxon Mobil...
The EU’s gas market correction mechanism now applies to trading hubs other than the Dutch TTF after an implementing act adopted at the end of March came into effect on May 1. The implementing act adopted March 31 set out the technical details regarding the application of the mechanism to...
Dry natural gas production from the Haynesville shale play in northeastern Texas and northwestern Louisiana reached new highs in March 2023, averaging 14.5 billion cubic feet per day (Bcf/d), 10% more than the 2022 annual average of 13.1 Bcf/d, according to data from Enverus. Haynesville natural...
The world’s most important oil price benchmark Dated Brent — used to set prices for more than two-thirds of the world’s traded crude oil — is set for a major volume increase as Platts includes the US’ WTI Midland grade, marking the biggest boost to deliverable crude cargoes into the key price...
https://www.hellenicshippingnews.com/dated-brent-benchmark-gets-boost-from-inclusion-of-us-crude/
The world’s top 11 energy traders made around $77 billion in earnings last year, more than double the previous year, as they benefited from extreme price volatility following Russia’s invasion of Ukraine, Bernstein analysts said on Wednesday. Shell and BP, the world’s two energy largest traders in...
A new IEA report released today examines the immediate steps the oil and gas industry needs to take to significantly reduce its emissions footprint and help move the world closer to meeting its international energy and climate goals. The new report – Emissions from Oil and Gas Operations in Net...