Noble Energy posts losses despite rise in oil and gas sales


Noble Energy posted a $109million loss in the second quarter of the year despite increased sales of oil and natural gas. The company said it expects it will be increasing production throughout the rest of the year but it is likely to be at an increasingly cheaper cost. Noble has posted second quarter profits of $101million down 68% from the $323million the company had earned the same time last year.


TransCanada profits up in latest quarter


TransCanada Corp, which divides its business between pipelines and power plants, reported higher second-quarter profit as electricity prices in Alberta rose and the company transported more fuel.


Freeport-McMoRan reports $1.85billion loss


US mining and oil heavyweight Freeport-McMoRan made a $1.85billion loss in the second quarter of 2015. The company posted $2billion of write-downs related to its oil and gas properties and other one-off items. Richard Adkerson, chief executive, said: "Our second-quarter results reflect strong operating performance in our global mining business, and solid production results and continued positive drilling and development results in our oil and gas operations.


Enterprise sells GoM assets in $1.5billion deal


Enterprise Products Partners has sold their offshore Gulf of Mexico pipelines and services business to Genesis Energy in a $1.5billion deal. The transaction is expected to close during the third quarter of this year. The company’s assets in the region include ownership interest in nine crude oil pipeline systems and interest in six offshore hub platforms.


Judge rules Petrobas suit can proceed


A US judge has ruled that an investor lawsuit against Petrobas over securities losses stemming from a multi- billion-dollar bribery scheme will go forward, dismissing some but not all claims in the case.