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Finance & Investing News

Friday, February 24, 2017

Finance and Investing News

Saipem Shares Fall On Tough Year Ahead Outlook
Shares in Saipem fell sharply in early trade on Friday after the oil contractor missed 4Q profit expectations and painted a gloomy picture for the industry for the year ahead.



Wednesday, February 22, 2017

Finance and Investing News

Norway Has No Plan To Cut Statoil Stake
The Norwegian government does not plan to cut its stake in Statoil, oil and energy Minister Terje Soeviknes says.



Tuesday, February 21, 2017

Finance and Investing News

India Top Oil Explorer Takes Profit Hit From Royalty Payments
India's Oil and Natural Gas Corp will take a $239 million hit to its quarterly earnings to account for previous royalty payments to Indian states.

Galp Cuts Investment Plan, Sees Higher EBITDA Growth
Galp Energia cuts its spending target for the next 5 years by around 20% and trims its output growth forecast.



Monday, February 20, 2017

Finance and Investing News

UAE's Dana Gas Revises 2016 Results Down To Net Loss Of $88 Million
Dana Gas revised down its unaudited preliminary results for 2016 to a net loss of $88 million, from the net profit of $33 million which it had previously reported.



Thursday, February 16, 2017

Finance and Investing News

FTC Approves Enbridge Deal To Buy Spectra With Conditions
Enbridge and Spectra Energy have won US antitrust approval for a $28B merger that will create the largest North American energy infrastructure company.

OMV Raises Dividend By 20% As Cash Pile Grows
Austrian oil and gas group OMV raises its dividend by 20% as free cash flow turned positive last year.

Cenovus Energy Swings To Profit As Production Rises
Canadian oil company Cenovus Energy Inc swings to a quarterly profit, as production rises and costs fall.



Tuesday, February 14, 2017

Finance and Investing News

Devon Energy Beats Profit Estimates As Cost Cuts Pay Off
Devon Energy reports a bigger-than-expected quarterly profit, as the US oil producer benefited from its cost-cutting initiatives.

Noble Group Shares Jump 17% After Confirming Talks On Potential Investment
Shares in Noble Group Ltd leapt as much as 17% after the commodities trader confirmed it was holding talks on a possible strategic investment in the firm.



Monday, February 13, 2017

Finance and Investing News

Kuwait's KPC To Spend 35B Dinars On Oil Projects In 5 Years
Kuwait Petroleum Corp (KPC) expects to spend 35 billion dinars ($114.8 billion) on oil projects in the next 5 years.



Friday, February 10, 2017

Finance and Investing News

Singapore Banks' Sour Loans In Focus As Oil Service Sector Stresses
Singapore's DBS Group Holdings and smaller rival United Overseas Bank are set to report their lowest quarterly profit in at least 2 years, hurt by loans provisions for the oil services sector.



Thursday, February 9, 2017

Finance and Investing News

White & Case Advises Saudi Aramco On World's Biggest IPO
Saudi Aramco appoints international law firm White & Case as legal adviser for its planned initial public offering (IPO), expected to be the world's biggest.

UAE's Dana Gas Freezes Egypt Investments Over Debts
Dana Gas will not make new investments in Egypt because of delays in obtaining payments owed to it there, the chief executive of the United Arab Emirates company says.



Wednesday, February 8, 2017

Finance and Investing News

US States See Favorable Conditions For Gas Tax Hikes
US states where gasoline taxes have not risen in decades are now discussing an increase and conditions might be ripe for the proposed hikes to win approval in state legislatures, tax experts say.



Tuesday, February 7, 2017

Finance and Investing News

Plains All American's Profit Nearly Halves as Costs Jump
Plains All American Pipeline reports on Tuesday a quarterly profit that nearly halved, largely due to a 23.3 percent jump in costs.

Parsley Energy to Buy Assets in Permian Basin for About $2.8B
US oil and gas producer Parsley Energy says it will buy certain assets in the oil-rich Permian basin from a privately owned company for about $2.8 billion.

Singapore Exchange Holds Talks With Saudi Aramco On Secondary Listing
Singapore Exchange has held talks with Saudi Aramco on a secondary listing, according to 2 sources familiar with the matter.






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