Yahoo Finance GEORGETOWN – Guyana’s efforts to use its natural gas resources to fuel a power plant that would slash the South American nation’s energy costs have snagged on construction delays and threaten to curtail the rising oil hotspot’s revenue this year by about $1 billion. The $1.9 billion gas-to-power project, Guyana’s biggest effort to capitalize on its energy bounty,
Oil Price When the U.S. Treasury Secretary proposed capping the price of Russian export oil to curb Moscow’s revenues, oil prices spiked. The reason was that the price cap, aimed at reducing Russia’s means of funding the war in Ukraine, was seen as a risky move that could prompt Russia to respond by suspending oil exports. Indeed, Russia’s reaction was
World Oil AUSTIN – Railroad Commission of Texas Chairman Wayne Christian applauds the Texas oil and gas industry following the Texas Comptroller of Public Accounts’ announcement of record-breaking tax revenues from the industry. “Despite President Biden’s delusional desire to transition away from fossil fuels, Comptroller Hegar’s announcement reinforces the fact that oil and gas literally fuels every facet of our lives
From The Houston Chronicle Houston oilfield service company Halliburton has landed nine contracts to drill and complete a series of wells off the coast in West Africa. Australian exploration and production company Woodside Energy awarded the contracts to Halliburton as part of the first phase of developing the SNE Field off the coast of Senegal. Financial terms have not been
By Tyler Losier, Energy Reporter, Oil & Gas 360 Christopher J. Baker named president and CEO of Quintana Energy Services Quintana Energy Services (stock ticker: QES), an onshore oilfield services company operating across the United States, has named Christopher J. Baker as its president and chief executive officer, effective immediately. Baker will replace former CEO Rogers Herndon, who has resigned
From Reuters General Electric Co’s oilfield services arm, Baker Hughes, beat quarterly profit estimates on Wednesday, driven by higher LNG drilling and demand for its oilfield services in international markets, sending its shares up nearly 6%. Revenue in the oilfield services segment, which constitutes a majority of the company’s operations, rose 14% to $3.26 billion in the second quarter, led
From Reuters A strong rise in oil and gas production helped BP (BP.L) offset weaker crude prices and refining profit to again beat profit expectations on Tuesday, boosting its shares. BP’s second quarter contrasts with Total (TOTF.PA) and Norway’s Equinor (EQNR.OL), which posted sharp earnings drops, and builds on a steady recovery after deep cost cuts since the 2014 downturn,
Iran’s energy sector will feel the repercussions of renewed sanctions Iran has the world’s fourth-largest proved crude oil reserves and the world’s second-largest natural gas reserves, but production in the country has been suppressed by international sanctions and underinvestment. Although some sanctions targeting the energy industry were temporarily lifted, and oil production reached ~3.8 MMBOPD in 2017, growth has remained
Alaska’s revenue forecast, released Wednesday, predicts a deficit of $3.5 billion, an increase of $2.1 billion from what lawmakers expected in April. The forecast expects unrestricted general fund revenue of $2.6 billion this year, down from $5.4 billion in 2014, reports Fox Business. That, combined with about $200 million in anticipated supplemental budget items like oil and gas credits, accounts
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