dividend – Oil & Gas 360

Brazilian President Lula fires Petrobras CEO Jean Paul Prates

May 16, 2024

World Oil (Bloomberg) – Shares of Brazil’s state-owned oil company Petroleo Brasileiro SA (Petrobras) declined after President Luiz Inacio Lula da Silva fired Chief Executive Officer Jean Paul Prates following a dispute over dividend payments. Prates’s dismissal was confirmed late Tuesday by people familiar with the matter, who asked not to be identified discussing private matters. Petrobras, as the company

Canadian Natural Resources lifts dividend after posting record production

March 1, 2024

Oil Price Canadian Natural Resources (NYSE: CNQ) is raising its quarterly dividend as it posted consensus-beating earnings for Q4, driven by record-high oil and natural gas production last year. Canadian Natural Resources, the biggest oil and gas producer in Canada by market capitalization, reported on Thursday adjusted earnings per share of US$1.72 (C$2.34) for the fourth quarter of 2023, higher than the

Pine Cliff Energy Ltd. announces strategic acquisition, new term debt facility and monthly dividend

November 1, 2023

Oil and Gas 360 Calgary, Alberta–(Newsfile Corp. – October 31, 2023) – Pine Cliff Energy Ltd. (TSX: PNE) (OTCQX: PIFYF) (“Pine Cliff” or the “Company“) is pleased to announce that it has entered into a definitive agreement (the “Agreement“) to offer to acquire all of the issued and outstanding common shares (the “Common Shares“) of Certus Oil & Gas Inc (“Certus“), a privately

Saudi Aramco profit slumps 44% after Covid-battered year, but maintains dividend

March 22, 2021

CNBC Oil giant Saudi Aramco reported a 44% slump in full-year 2020 results, but maintained its $75 billion dollar dividend payout, with CEO Amin Nasser describing the last twelve months as one of the most “challenging years” in recent history. Saudi Aramco, Saudi Arabia’s behemoth state oil firm, reported net income of $49 billion in 2020, down from $88.19 billion

Exxon Mobil’s fading star: no longer the biggest U.S. energy company

October 29, 2020

Reuters Exxon Mobil Corp XOM.N was once the largest U.S. publicly traded company in the United States. Now, the oil major is not even the largest energy name, having been surpassed by rivals and even a renewable company, as it tries to maintain its hefty dividend. It has been an ignominious year for Exxon. It is expected to report a record-setting third

Exxon weighs global job cuts after unveiling Australian lay-off

September 2, 2020

Fox Business Exxon Mobil Corp is assessing possible worldwide job cuts, a spokesman said on Wednesday, after the company announced a voluntary lay-off program in Australia. Exxon is the latest oil major to embark on axing jobs spurred by a historic collapse in fuel demand because of the coronavirus pandemic. The company has slashed capital spending this year by 30% to around

Exxon signals up to $20 billion writedown to overwhelm 4th-qtr gains in oil, chemicals- oil and gas 360

Exxon to suspend company match to employee retirement plans in October: sources

August 5, 2020

Reuters HOUSTON – Exxon Mobil Corp (XOM.N) told employees it would begin suspending the employer match to retirement savings plans beginning in early October, said sources who received a message from the company on Tuesday. “Given the current business environment, the corporation is taking steps to reduce costs,” according to a copy of the message seen by Reuters. “The company

Shell weighs sale of $2 billion-plus stake in Queensland LNG facilities

June 3, 2020

Reuters MELBOURNE/SYDNEY – Royal Dutch Shell (RDSa.L) is considering raising more than $2 billion from the sale of a stake in the common facilities at its Queensland Curtis LNG plant in Australia, according to a sale flyer reviewed by Reuters. “Royal Dutch Shell plc is considering a sale of a 26.25% interest in the Queensland Curtis LNG (QCLNG) Common Facilities

Halliburton slashes dividend by 75% in latest move to save cash

May 20, 2020

Reuters Oilfield services provider Halliburton Co slashed its quarterly dividend by 75% on Wednesday, the latest move by the company to shore up cash to cope with a dramatic plunge in oil prices that began in March. U.S. oil prices experienced historic drops throughout March and April, brought on by the demand destruction caused by coronavirus-related lockdowns and a price

Chevron says results will be ‘depressed’ as long as oil stays low, takes steps to protect dividend

May 1, 2020

CNBC Chevron shares dropped on Friday after the company warned that results will remain depressed as long as oil prices stay low, and said it was further cutting its 2020 capital spending plan. For the first quarter, Chevron reported earnings per share of $1.93, which included $680 million in one-time favorable items, and $31.5 billion in revenue, helped by downstream margins

Shell’s second-quarter profit slumps 82% on coronavirus hit to oil prices, energy demand- oil and gas 360

Oil major Shell slashes dividend for the first time since World War II

April 30, 2020

CNBC Oil giant Royal Dutch Shell on Thursday cut its dividend to shareholders for the first time since World War II, following a dramatic slide in oil prices amid the coronavirus crisis. The board at Shell said it had decided to reduce the oil major’s first-quarter dividend to $0.16 per share, down from $0.47 at the end of 2019. That’s a reduction of

Refiner Phillips 66 cuts spending forecast by 18%, commits to dividend

March 24, 2020

Reuters Refiner Phillips 66 (PSX.N) on Tuesday cut its 2020 spending forecast by about 18% and assured investors their dividend was secure even as the coronavirus outbreak and a price war between Saudi Arabia and Russia threaten the oil market with massive oversupply. As U.S. crude prices last week touched their lowest point in nearly two decades, oil and gas

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