Earnings

TotalEnergies SE is aiming to restart construction this year on its long-delayed Mozambique LNG export terminal as it works to revive the project.  Work on the $20 billion facility was suspended in 2021 amid a rise in violence in the region. TotalEnergies, which has a 26.5% operating stake in the 12.9 million metric tons/year project,…

The top executives of SLB Ltd., Halliburton Co. and Baker Hughes Inc. said during recent quarterly calls that they see years of growth ahead for the oil and natural gas industry as they lean into efficiencies and new technologies. SLB was the first oilfield services (OFS) giant to roll out fourth quarter results, followed by…

A new executive team has taken the reins at BP plc, but the strategy remains focused on providing energy solutions while remaining pragmatic because the world continues to need natural gas and oil, CEO Murray Auchincloss said. Auchincloss discussed the London-based supermajor’s fourth quarter and full-year results during a conference call Tuesday. Formerly CFO, Auchincloss…

MPLX LP management said its 2024 growth outlook is anchored in the Permian Basin and Marcellus Shale, which provide steady sources of opportunities, particularly around natural gas and natural gas liquids (NGL) assets. It also sees potential in the Utica Shale. “We plan to continue growing these operations through organic projects, investment in our Permian…

Chevron Corp. generated company-record natural gas and oil production in 2023, punctuating a broader U.S. industry trend. American gas and crude output both reached all-time highs last year and remained elevated early this year as exploration and production (E&P) companies were striving to meet mounting global demand, even amid soft near-term prices. Chevron said it…

ExxonMobil’s goal to advance its natural gas and oil trading arm is gaining momentum, as the company eyes more opportunities in the global market, CEO Darren Woods said Friday. Woods discussed the supermajor’s fourth quarter and full year results during a wide-ranging conference call.  “We saw energy prices and refining margins start to normalize in…

Enterprise Products Partners LP said it benefited from higher natural gas prices during January’s winter storm and was looking ahead to 2024 when any other commodity price bounces would add to volume-driven growth. The Houston-based midstream company shipped and processed record volumes of natural gas in 2023, alongside 11 other operational records in the year,…

An “exceptional” performance for Shell plc’s Integrated Gas trading unit, in parallel with higher LNG volumes, once again propelled profits in the final three months of 2023, with volumes set to climb higher as an Australian export project restarts, CEO Wael Sawan said. The London-based major reported sharply lower fourth quarter profits year/year, notably lacking…

Management at global petrochemical giant Dow Inc. on Thursday touted domestic natural gas and natural gas liquids (NGL) production growth for its competitive edge in its oil to gas brands in 2023. Through lower planned maintenance spending and structural improvements to raw materials, logistics and utility costs, “we’ve improved our cost profile,” CFO Jeffrey Tate…