Super-majors announce profit hike in Q3 2021
USA Chevron has announced its most lucrative quarter since 2013, with earnings of USD 6.1 billion. Most of the profit came from its upstream endeavours, totaling USD 235 million in Q3 2021.
ExxonMobil also announced profits of USD 6.8 million in the same quarter, the most lucrative quarter since 2017. The hydrocarbons operator announced it would resume its share-buyback programme that it suspended in 2016.
The companies cite rising demand and higher oil and gas prices to be the major cause for the rise in profits.
Recent Posts
UK allows oil exploration in North Sea wind project zones
The UK's hydrocarbons regulator has awarded 31 new exploration licences in the country's North Sea waters, Reuters reported on Friday Read More
ExxonMobil closes acquisition of Pioneer, creating Permian powerhouse
ExxonMobil announced the closing of its USD 60-billion acquisition of Pioneer Natural Resources on Friday, a move that solidifies its… Read More
BP-Eni joint venture Azule Energy enters Namibia’s Orange Basin
BP-Eni joint venture Azule Energy has entered a strategic farm-in agreement with Rhino Resources in Namibia's offshore Orange Basin, the… Read More
Chariot starts gas drilling campaign in Morocco
Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in… Read More
Touchstone acquires Trinidad E&P player Trinity
Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More
ExxonMobil “optimistic and pushing forward” with Mozambique’s Rovuma LNG
ExxonMobil is "optimistic and pushing forward" with the Rovuma LNG project in Mozambique and eyes an FID by the year's… Read More