Earnings , Construction , Pipelines

TC Energy Sees Higher Costs for Coastal Gaslink Pipeline in 2023

Long-delayed natural gas pipeline’s costs to exceed current $7 billion estimate, company says.

November 29, 2022

Business , Earnings

BP Foresees Lower 4Q Production but Higher Commodity Prices

BP expects its production to slip slightly in the fourth quarter of 2022 but foresees a pricing environment that supports higher oil and gas realizations owing to Russian supply issues.

November 11, 2022

Earnings , Exploration & Production

Ecopetrol Eyes Suspension of Fracking Pilots with Exxon Mobil, Higher Output Next Year

Colombia’s oil giant Ecopetrol is taking steps to decelerate plans related to two fracking pilots with Exxon Mobil owing to opposition from President Gustavo Petro but continues to eye low single-digit production growth next year amid positive results at home and in the Permian Basin.

November 10, 2022

Earnings , Gathering & Processing

Citgo Petroleum Reports $477 Million Third Quarter Profit

In the third quarter of 2022, Citgo Petroleum's three refineries processed a combined total of 780,000 bbl/d and exported 196,000 bbl/d of refined products.

November 10, 2022

Earnings , Unconventional , Shale Plays

YPF Eyes Ambitious Capex Plan Driven by Vaca Muerta Operations

YPF, which set up a $4 billion capex plan for 2022, is still working on next year’s budget, CFO Alejandro Lew told investors on a call to discuss third-quarter results

November 10, 2022

Earnings , Energy Transition , Shale Plays

Occidental’s Permian Basin DAC Project Takes a Hit from Inflation

Despite hurdles, Occidental Petroleum on Nov. 9 expanded future plans for direct air capture (DAC). Government incentives and the passage of the Inflation Reduction Act into law allow it to plan 100 DAC facilities by 2035, from 70 before, CEO Vicki Hollub said.

November 9, 2022

Earnings , International , Pipelines

Germany’s E.ON Almost Fully Cuts Value of Nord Stream 1 Stake

“Among the reasons for this are greater uncertainty amid the current situation and, since September 26, damage to both of Nord Stream 1’s pipelines whose cause is as yet unclarified,” said E.ON, Europe’s biggest operator of energy networks.

November 9, 2022

Earnings , Midstream

TotalEnergies Eyes Strong Refining Margins

France’s TotalEnergies SE said a ban on imports of Russian petroleum products will keep refining margins strong, while gas prices should remain robust amid Europe’s need to import LNG to replace Russian gas.

November 9, 2022

Earnings , Transactions , Pipelines

Pipeline Operator TC Energy Posts Higher Profits, Looks to Sell Assets

TC Energy plans to sell off assets and minority interests to generate over C$5 billion through 2023, according to the company's CEO.

November 9, 2022

Earnings , Exploration & Production , Shale Plays

Occidental Petroleum Q3 Profit Surges from a Year Ago on High Oil Prices

Production in the U.S. Permian Basin of 523,000 boe/d came at the lower end of Occidental Petroleum’s guidance.

November 8, 2022