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Lossmaker Conoco 'Turns Corner' in 2Q
US major ConocoPhillips racked up a $3.4bn loss in the second quarter, it said July 27. That was three times its 2Q2016 loss of $1.1bn. However, impairments on legacy US shale…
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BASF-Wintershall Profits Up on Sales, Prices
Earnings at German chemicals giant BASF’s oil and gas division (Wintershall) increased on the back of higher prices and sales volumes, it said July 27, helped by resumed…
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Eni Flags Libyan Offshore Gas Find
Eni said April 5 it has made a new gas and condensate discovery in the Gamma prospect, 140 km offshore Libya's capital Tripoli, with a well capable of producing over 7,000 boe/d.…
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Wintershall Output Grows, Russia Remains Key
German producer Wintershall hit a record output last year of 165mn barrels of oil equivalent (452,000 boe/d), up 8% on 2015, meaning a 50% rise over the last ten years. Norway…
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Libya’s oil and gas ambitions
The headlines over the first two months of 2017 about Libya’s oil and gas are marked by growing optimism, but onshore operations are not for the timid. In January the…
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Eni to Sell Half its Mozambique Stake: CEO
Eni plans to farm out 25% of Mozambique offshore Area 4, the company’s CEO Claudio Descalzi told a press briefing March 1. Eni’s overall indirect Area 4 stake is…
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BASF Profits are Stable, as Wintershall's Dive
German chemicals giant BASF's results, released February 24, included annual net income of €4.06bn ($4.3bn) in 2016, up 2%, with 4Q 2016 profit of €689mn, up 103% year…
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Marathon 4Q Net Loss Mounts to $1.73bn
Marathon Oil late February 15 reported a full year 2016 loss of $2.14bn, little changed from its 2015 loss of $2.2bn. Adjusted net 2016 loss was $693mn. "Despite challenging…
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EDF Reaps No Gas Windfall in 2016
French power giant EDF reported net 2016 income of €2.9bn, 2.4 times higher than the previous year’s, despite having many nuclear plants offline. Italian…
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Wintershall Warns of 2030 EU Supply Gap
Wintershall CEO Mario Mehren said August 30 that natural gas imports into the European Union will remain important, both economically and to limit global warming, as local…
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Libya NOC 'Re-Merger' Seen as Positive
Libya’s state-owned National Oil Corporation (NOC) has agreed to merge with its eastern Libya counterpart and signalled its intent that its future headquarters be in the…
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Libyan NOC Re-Merger Seen as Positive
Libya’s state-owned National Oil Corporation (NOC) has agreed to merge with its eastern Libya counterpart and signalled its intent that its future headquarters be in…
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Eni Chief Reassures Libyan PM
Eni CEO Claudio Descalzi met Libyan Prime Minister, Fayez Serraj, on June 4 in the capital Tripoli; it was the first visit by the Eni boss to…
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Technip Wins ENI Libya Contract
French contractor Technip said May 31 it has been awarded a major natural gas field development contract offshore Libya by Italy’s Eni. The major subsea contract,…
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North Africa Needs to Invest $75bn in Power to 2020: Report
As governments in the Middle East and North Africa (Mena) ramp up investment in the power sector, a report* this month by the multilateral bank, Arab Petroleum Investments…
