ADNOC Gas, a world-class integrated gas processor, and its subsidiaries today announced strong financial results for the second quarter (Q2) of 2024, reporting adjusted net profit of US$1.190 billion, an improvement of 21% year-on-year. Second-quarter revenues increased 13% year-on-year to $6.076 billion. In the UAE, population growth and industrial growth contributed to higher revenues in […]
Following last week’s stock market collapse, Wall Street investors’ eyes next week will be on inflation figures scheduled for release on Tuesday and Wednesday: the Producer Price Index and the Consumer Price Index. Other important economic data will also be released next week, including retail sales and industrial production figures. On the earnings side, heavyweights […]
Summit Midstream’s transformation into a crude oil-focused midstream company resulted in a sharp decline in natural gas traffic in the second quarter, as throughput fell 46% to 716 MMcf/d starting in the first quarter of 2024. In March, Summit announced it was selling its Utica Shale assets to a subsidiary of MPLX for $625 million. […]
Following the recent decline in oil prices, the U.S. Energy Information Administration (EIA) expects falling global inventories to push prices up through the end of 2024 before falling victim to lower consumption next year. According to the EIA forecast, global liquid fuel consumption will increase by 1.1 MMbbl/d in 2024 and 1.6 MMbbl/d in 2025. […]
Vicki Hollub, president and CEO of Occidental Petroleum, took the microphone on August 8 and told M&A dealers, buyers and investors: “Some people think this is a fire sale, but it is not.” Hollub was responding to questions during Oxy’s earnings call last week about Oxy’s Plan B to raise another $3.5 billion through asset […]
