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Rigzone.com: Finance and Investing News



The latest upstream oil and gas news from around the world.



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Halliburton Warns Of First-Quarter Profit Miss As Costs Rise

Fri, 24 Mar 2017 00:00:00 GMT

Halliburton warns that its first-quarter profit would likely miss analysts' expectations.



Union Leader: Argentina's Tecpetrol To Invest $2.3B In Vaca Muerta

Thu, 23 Mar 2017 00:00:00 GMT

Tecpetrol will invest $2.3 billion in the Vaca Muerta shale fields through 2019, Guillermo Pereyra, a union leader and senator says.



China's CNOOC Reports Worst Result Since 2011, Forecasts Output Rise

Thu, 23 Mar 2017 00:00:00 GMT

China's offshore oil and gas producer CNOOC Ltd reports its worst annual result since at least 2011, with revenue from its core oil and gas business tumbling 17% last year.



Petrobras Raises Asset Sale Goal To $21B For 2017-2018 Period

Wed, 22 Mar 2017 00:00:00 GMT

Petrobras raises a goal for asset divestitures and partnerships for 2017 and 2018 to $21 billion from $19.5 billion.



Maersk Reaches Key North Sea Tax Deal With Denmark

Wed, 22 Mar 2017 00:00:00 GMT

A.P. Moller-Maersk reached an agreement with the Danish state that means it will pay less tax on its North Sea oil and gas activities through 2025.



Enquest Reports Small Rise In Annual Profit Despite Weak Oil Price

Tue, 21 Mar 2017 00:00:00 GMT

North Sea-focused oil producer EnQuest reports a small rise in annual core earnings, despite weak oil prices, as it brings down costs and raises production.



Italy Gives Final Approval To Intesa Funding Of Russian Oil Deal

Mon, 20 Mar 2017 00:00:00 GMT

Italy has given its final blessing to a 5.2 billion euro loan made in January by bank Intesa SanPaolo to finance the privatisation of a stake in Russia's biggest oil company.



UK's Tullow Oil Makes $750MM Cash Call To Reduce Debt

Fri, 17 Mar 2017 00:00:00 GMT

Tullow Oil Plc plans a rights issue to raise about $750 million to cut its $4.8 billion debt burden and make investments in drilling and exploration in Latin America and Africa.



China, Saudis Said to Discuss CIC, CNPC Stake in Aramco IPO

Thu, 16 Mar 2017 00:00:00 GMT

China's in talks with Saudi Arabia for its sovereign wealth fund and largest energy company to invest in the initial public offering of the Middle East nation's state oil producer, according to sources.



Norway Government Cuts 2017 Oil Investment Forecast

Tue, 14 Mar 2017 00:00:00 GMT

Investments by Norway's oil industry will decline more than expected in 2017 and economic growth is now seen fractionally lower than forecast.



Malaysia's Petronas Warns On 2017 Outlook Despite Swing To 4Q Profit

Tue, 14 Mar 2017 00:00:00 GMT

Petronas warns of a cautious outlook for 2017.



Japan PM Abe Seeks Saudi Support For Aramco Listing In Tokyo

Mon, 13 Mar 2017 00:00:00 GMT

Japan's Prime Minister Shinzo Abe asks Saudi Arabia's King Salman to support a listing of oil giant Aramco's shares in Tokyo.



Premier Oil Makes Annual Pre-Tax Loss Despite Cost Cuts, Higher Output

Thu, 09 Mar 2017 00:00:00 GMT

North Sea focused Premier Oil missed analysts' annual profit forecasts as it made its third consecutive annual loss before tax despite a heavy squeeze in costs and higher production.



CFO: Brazil's Petrobras Confident Accounting Practices Correct

Wed, 08 Mar 2017 00:00:00 GMT

Petrobras is "confident" its financial reporting is in line with regulation, its chief financial officer says.



Brazil's Watchdog Asks Petrobras To Restate Financial Reports From 2013-15

Wed, 08 Mar 2017 00:00:00 GMT

Brazil's stock market regulator CVM asks state controlled oil company Petroleo Brasileiro SA to restate its annual financial statements for 2013, 2014 and 2015.



Poland's PGNiG Says 2016 Net Profit Rises 10%

Wed, 08 Mar 2017 00:00:00 GMT

Polish gas company PGNiG says that higher gas sales boosted its 2016 net profit by about 10% to 2.35 billion zlotys ($577 million).



Anadarko Expects Oil Sales Volumes To Rise 25%

Tue, 07 Mar 2017 00:00:00 GMT

Anadarko Petroleum says it expects a 25% rise in oil sales volumes in 2017.



Burning Less Oil At Home Will Help Saudi Exports And Aramco IPO

Tue, 07 Mar 2017 00:00:00 GMT

Saudi Arabia is likely to reduce the amount of oil it burns to generate power this summer as the kingdom hikes domestic energy prices and uses more natural gas in power stations.



Russia's Gazprom Says Credit Agricole CIB To Give It $739 MM Loan

Tue, 07 Mar 2017 00:00:00 GMT

Russian gas producer Gazprom says French Credit Agricole CIB has agreed to give it a loan of 700 million euros ($739.8 million) for 5 years.