LONDON: Africa-focused energy company Chariot (AIM: CHAR) on Thursday reported its unaudited interim results for the six months ended June 30, 2025, unveiling a strategic pivot to split its operations into two standalone business units: Upstream Oil & Gas and Renewable Power. CEO Adonis Pouroulis said the company had “emerged from a challenging period” with…
Tag: oil and gas
EnQuest reports H1 loss amid UK windfall tax; Expands Southeast Asia footprint
Revenue declined 6% to $549.1 million, while cost of sales rose 10% LONDON: EnQuest PLC reported a statutory net loss of $173.5 million for the first half of 2025, citing a $123.9 million non-cash adjustment linked to the UK’s extended Energy Profits Levy. The oil and gas group maintained production guidance despite infrastructure outages and…
Jersey Oil & Gas halves costs, pushes forward with Buchan Field amid UK tax scrutiny
LONDON: Jersey Oil & Gas plc (JOG), an independent oil and gas company operating in the North Sea, announced its unaudited interim results for the first six months of 2025, highlighting a significant reduction in its operational costs and continued progress on its flagship Buchan redevelopment project. The company stated it has halved its annualized…
Saudi Aramco posts $50.9bn H1 profit amid market volatility; Maintains 100% supply reliability
Energy giant advances upstream projects, boosts AI capacity and renewables, declares $42.7 billion in dividends despite lower crude prices RIYADH: Saudi Aramco (2222.SE), the world’s largest oil exporter, reported a robust financial performance for the first half of 2025, posting an adjusted net income of $50.9 billion despite lower crude prices and geopolitical headwinds. The…
Shell Reports Second-Quarter 2025 Income Decline Amid Market Headwinds
Adjusted Earnings for the second quarter ended June 30, 2025 stood at $$4.26 billion compared with $6.29 billion last year LONDON: Shell PLC reported a decline in second-quarter 2025 income attributable to shareholders compared to the first quarter, citing weaker trading margins and lower realised prices for liquids and gas. Marketing margins rose during the…
John Wood sells RWG joint venture stake to Siemens Energy for $135 million
LONDON: John Wood Group PLC on Friday said it has agreed to divest its 50 percent interest in RWG (Repair & Overhauls) Limited to Siemens Energy Global GmbH & Co. KG for $135 million in cash, marking another key step in Wood’s disposal program aimed at streamlining its portfolio and reducing net debt. The transaction,…
Aker Solutions posts solid Q2; Reaffirms full-year outlook as order backlog climbs
OSLO: Norwegian engineering company Aker Solutions reported a strong second quarter performance on Thursday, backed by high project activity and continued momentum in its core markets. Second-quarter revenue rose to NOK 15.2 billion ($1.43 billion), up from NOK 12.8 billion in the same period last year, as the company executed key milestones including installation of…
Black Stone Minerals reports strong results for 2023, provides outlook for 2024
Black Stone Minerals, L.P. (NYSE: BSM), a leading owner of oil and natural gas mineral interests in the United States, announced its financial and operating results for the fourth quarter and full year of 2023 and provided guidance for 2024. The Company reported net income of $147.6 million and Adjusted EBITDA of $125.5 million for…
IPC explores diverse sources of funding with a $300mn bond issue
STOCKHOLM, SWEDEN: International Petroleum Corporation (IPC) has raised $300 million through a bond issue, as the Lundin Group’s company explores diverse sources of funding to capitalize on the next phase of the energy transition in the upstream oil and gas industry. IPC announced it completed a private placement of USD 300 million of senior unsecured…
Winchester Energy acquires 100% working interest in Varn Oil Field
SYDNEY, AUSTRALIA: Winchester Energy Limited (ASX: WEL) announced the acquisition of a 100% working interest in the Varn Oil Field, located 18 miles to the east of Winchester’s existing producing assets in Nolan County, Texas. The Varn Oil Field contains existing Proven and Probable (2P) of 1,068,000 barrels of oil (boe) comprised of 994,000 barrels…
Reuben Segal appointed new CEO of AqualisBraemar LOC ASA
OSLO, NORWAY: David Wells, CEO of AqualisBraemar LOC ASA, has announced that he wishes to retire at year-end and step down as CEO of the group. The board of directors has appointed Wells’ co-founder and current COO of AqualisBraemar LOC, Reuben Segal, as new CEO. The CEO change takes effect from 1 January 2022. Further,…
Mari Petroleum acquires working interest in Margala Block
KARACHI, PAKISTAN: Mari Petroleum Company Limited (MPCL) has executed a farm-out agreement with MOL Pakistan Oil and Gas Co. B.V. over Margala Block with an area of 1,847 sq. km to collaborate their resources and efforts to jointly perform exploration activities. The Block is situated in the Potwar Basin in the vicinity of Islamabad. MPCL…