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News Date
Erin Energy files for bankruptcy protection
Erin Energy Corp., which has current production and other exploration projects offshore Nigeria, Ghana and The Gambia, filed for bankruptcy protection in the US on April 25, and had its common shares...
May 03, 2018
Careful optimism as earnings show good recovery
First quarter earnings have arrived and supermajors, as well as most companies, are feeling good about 2018. BP’s profits are up 71% on its strongest Upstream quarter since 2014 (PG 3)...
May 03, 2018
Cluff seeking to raise £0.75MM
AIM-listed Cluff Natural Resources Plc launched an offering of 46.875 million new ordinary shares at 1.6p each to raise £750,000. It would use proceeds to start evaluating any additional licenses in...
May 03, 2018
Africa Energy doubling common with $45MM raise
Africa Energy Corp. announced April 25 that it has upsized its private placement to raise $45 million after encountering high levels of interest in its initially contemplated $40 million raise during...
May 03, 2018
Angola’s $5.0 billion oil fund switching advisers
Angola’s oil-driven $5.0 billion sovereign wealth fund wants to remove Swiss-based Quantum Global as its asset manager, FSDEA said on April 27 citing concerns that the money manager’s approach to...
May 03, 2018
Chevron’s $3.6 billion net gives it best quarter since 3Q14
Chevron Corp. earned over $3.6 billion in net income in Q1, a 33% rise in profits from a year ago and its best quarter since 3Q14, when global oil prices began to careen downward. Revenue was up 13%...
May 03, 2018
Exxon net up 16% to $4.7 billion in Q1, Upstream up 55%
Exxon Mobil reported estimated Q1 earnings at $4.65 billion on $68.2 billion in revenue, compared with $4.01 billion on $58.7 billion in revenue for 1Q17. Upstream earnings came in at...
May 03, 2018
PDVSA to pay Conoco $2.04 billion over asset seizure
Arbitrators awarded ConocoPhillips $2.04 billion in compensation from PDVSA in connection with the Venezuelan national oil company’s expropriation of Conoco’s interests in two Orinoco Belt...
May 03, 2018
Petrobras signs $400MM financing, will choose TAG bid
Petroleo Brasileiro (Petrobras) announced that its wholly owned subsidiary Petrobras Global Trading BV-PGT signed a finance agreement of up to $400 million with Credit Agricole with a guarantee from...
May 03, 2018
Seadrill’s bankruptcy plan keeps Frederiksen on top
A US bankruptcy judge approved Bermuda-domiciled fleet operator Seadrill Ltd.’s reorganization plan during a 90-minute confirmation hearing on April 17. Under the plan, $5.7 billion of secured bank...
May 03, 2018

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