“In these times, profits must be shared and channeled to those who need it most,” European Commission President Ursula von der Leyen told the EU Parliament.
The EU measure would apply to an energy company’s surplus profits from 2022 at a level to be specified above the average taxable profits in the three fiscal years since January 2019, the draft said.
The next couple of years are key for strategy decisions as oil producers should generate most of that added surplus cash—or $1 trillion—by 2024, Deloitte says.
Argentina’s macro environment will continue to weigh on state-owned shale producer YPF despite strong second-quarter financial results that benefitted from robust commodity prices and a strong recovery in energy demand across the South American country.
As its shares tumble 13%, CEO says Beach is holding its capital in pursuit of acquisitions.
European power crunch will likely lead to hike in EBITDA.
The decarbonization plan of Ecopetrol, Colombia’s largest oil and gas producer, includes a commitment to produce 1 million tonnes per annum of green, blue and white hydrogen by 2040.
Occidental President and CEO Vicki Hollub said, among record earnings results, Oxy would extend its Permian JV with Ecopetrol in the Midland and Delaware basins to encompass 20,000 net acres.
“Oilfield service capacity remains extremely tight and is further constrained by the limited availability of materials and experienced labor,” EOG Resources COO Billy Helms told investors.
APA Corp. eyes returning at least $1.8 billion of its capital to shareholders through dividends and share buybacks by year-end while also lowering its production guidance for 2022 by 2%.