Petrofac 2022 results ‘severely impacted’ by E&C challenges
Petrofac (LON: PFC) has released its 2022 full-year results, which new CEO Tareq Kawash said are “severely impacted” by challenges in its engineering and construction (E&C) division.
2022 results
‘Tough decisions’ now ‘paying off’ for North Sea firm Serica as profits jump
North Sea firm Serica Energy (LON: SQZ) is attributing its latest set of financials to bold decisions made when the “going was tough”.
Serica profits up 361% year-on-year, extends life of Bruce field to 2035
Serica Energy (LON: SQZ) takings soared in 2022 during a year of “outstanding progress” for the North Sea oil and gas firm.
Petrofac issues profit warning ahead of 2022 full-year results
Energy services giant Petrofac (LON: PFC) is tempering expectations ahead of the publication of its full year results for 2022, slated for April 25.
Ithaca Energy trebles profits during ‘transformational’ year
But the North Sea firm also lamented the “fiscal uncertainty” created by the energy profits levy (EPL), confirming a $767m deferred tax charge as a result of the government policy.
Wood boss Ken Gilmartin champions UK North Sea expertise
The UK North Sea remains a key part of the business of global engineering and consultancy services giant Wood, its boss said on Tuesday.
Sinopec eyes growing domestic demand after lockdown-hit year
Chinese NOC Sinopec expects to increase oil and gas production next year as the government looks to meet growing domestic demand following an end to Covid-19 lockdowns in December last year.
Longboat focused on converting 2022 exploration success into ‘reserves, production and cash’
Longboat Energy (LON: LBE) is focusing on converting its “exploration success into reserves, production and cash” after posting hefty losses for 2022.
Saudi Aramco posts blowout annual profit and raises dividend
Saudi Aramco unexpectedly increased its dividend and said it would hike spending as it looks to deploy an avalanche of cash generated by last year’s surge in oil and gas prices.
Energy economist accuses Harbour of ‘fancy accounting’ to get headlines
In a Twitter thread, Greg Muttitt, who works for IISD Energy, accused the North Sea’s biggest producer of counting “all of its windfall tax payments for the next 5 years into this year's accounts”.
Neptune Energy doubles annual profits amid production boost
Neptune Energy pulled in pre-tax profits of $3 billion last year as oil and gas prices “soared” across Europe.
Energy services group Hunting posts ‘good’ results as it launches 2030 growth plan
London-headquartered Hunting (LON: HTG) is charting a plan for major growth with the launch of a “broad-based” 2030 strategy.
Offshore work drives recovery for Saipem after tumultuous 2022
Saipem reported diminishing losses in its full-year results, after a year marred by lossmaking wind contracts and the departure of its CEO.
Eni becomes latest oil giant to post record results with 2022 profits of £18bn
Eni (NYSE: ENI) is toasting a set of “excellent financial and operating results” after a year in which it ensured “the security and stability of energy supplies” to Europe.
Engie lifts payout by 65% as profit jumps amid energy crunch
Engie SA reported a jump in 2022 earnings and a planned 65% increase in its dividend thanks to an exceptional surge in the cost of power and gas last year.
Aker BP triples profits in ‘remarkable’ 2022
Aker BP (OSLO:AKRBP) more than tripled its pre-tax earnings for full-year 2022, in its first annual results filings since the takeover of Nordic rival Lundin last year.
Aker Solutions keeps orderbook at ‘all-time high’ in robust Q4 results
Aker Solutions (OSLO:AKSO) reported storming fourth quarter and full year results, as a wave of new Norwegian projects filled its books to a record high.
Equinor sets new record as profits double in full-year 2022 earnings
Equinor (OSLO:EQNR) joins other energy giants to post record profits for 2022, prompting a further ramp-up in share buybacks.
Campaigners protest ‘immoral’ Equinor profits in London and Aberdeen
Climate campaigners intend to hold protests at the UK offices of energy giant Equinor (OSLO:EQNR) and the Norwegian embassy ahead of what are expected to be a further set of record profits.
BP hits record profits and rolls back on speed of oil and gas withdrawal
BP (LON: BP) hit record profits in its 2022 results at a whopping $27.7bn, and announced it is slowing down the pace of its withdrawal from oil and gas.
Shell profits expected to dip from recent highs after gas price drop
New chief executive Wael Sawan is unlikely to be introduced to shareholders alongside another set of record profits, but Shell (LON: SHEL) will have continued to benefit from massively high energy prices in the last months of 2022.
Updated: Chevron falls after posting disappointing quarterly result
Chevron Corp. posted disappointing fourth-quarter results just days after surprising investors with a mammoth $75 billion share-buyback program.
Big Oil faces headwinds after record $199 billion profit haul
Exxon Mobil, Chevron, Shell, TotalEnergies and BP reaped almost $200 billion collectively last year but fears of an economic slowdown, plunging natural gas prices, cost inflation and uncertainty over China’s re-opening are dimming the outlook for 2023.
Record orders crown a major restructuring year for Baker Hughes
Baker Hughes (NASDAQ: BKR) capped its big restructuring year of 2022 with “record” orders during Q4.
Wood predicts 30% drop in earnings for 2022 results
Wood (LON: WOOD) has forecast a drop in earnings and revenues for its 2022 results, down from the previous two years.