The strong results, underpinned by higher sales at petrol stations, bolster BP’s plan to shift away from oil and gas to renewable and low-carbon energy, CEO Bernard Looney told Reuters.
While Diamondback Energy and Continental Resources beat Wall Street profit estimates, Pioneer Natural Resources only met expectations, but declared an inaugural variable dividend to be paid during the third quarter.
Exxon Mobil’s quarterly earnings results highlighted how oil producers are taking advantage of a recovery in oil prices to cut debt and boost shareholder payouts rather than spending more to raise production
Magellan Midstream Partners LP reported a drop on July 29 in its second quarter crude transportation and terminals revenue, hit by lower fees for its services and a decline in storage demand.
Lower costs and higher prices generated the highest cash flow in two years, enabling Chevron to pare debt and resume share repurchases, company executives said.
Europe's top energy companies signaled confidence in a lasting recovery from the pandemic impact on July 29 by drawing on higher oil prices to boost shareholder returns and reassure investors as they roll out risky climate strategies.
U.S. oil producer Hess Corp. said on July 28 it planned to add a rig in North Dakota's Bakken basin in September, after topping estimates for second-quarter profit on a rebound in crude prices.
Pioneer Natural Resources is expecting to report a total net loss on derivatives of about $1.5 billion for the first half of the year, the Permian Basin producer said in a regulatory filing.
NextEra Energy has recently seen its investor base rise, as countries and corporations move further away from fossil fuels, and last year had briefly pipped Exxon Mobil Corp. as the largest U.S. energy firm by market value.
Oilfield services giant Schlumberger NV issued a bullish forecast for 2021 on July 23 as second-quarter profit topped estimates due to surging margins, with a rebound in oil prices boosting demand for its software and equipment.