Author: Arunima Kumar
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Exxon to buy Denbury for $4.9 billion in carbon storage bet
By Sabrina Valle and Arunima Kumar HOUSTON (Reuters) -Exxon Mobil Corp on Thursday agreed to buy Denbury Inc for $4.9 billion to accelerate its energy transition business with an established carbon dioxide (CO2) sequestration operation. The acquisition, which sent both companies’ shares lower, gives Exxon ready-made CO2 transportation and highlights its bets on making carbon…
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ConocoPhillips joins Big Oil’s parade of bumper profits but shares fall
By Arunima Kumar and Liz Hampton (Reuters) -ConocoPhillips said on Thursday its profit more than doubled to $18.7 billion in 2022, the highest since the oil company spun off its refining business in 2012, benefiting as crude prices climbed 10.5% in 2022. Still, its shares fell more than 5% to $111.79 on weaker oil prices…
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Halliburton tops Wall Street estimates as equipment remains fully booked
By Arunima Kumar and Liz Hampton (Reuters) -U.S. oilfield services firm Halliburton Co on Tuesday topped Wall Street profit estimates for its fourth quarter and said its shale oil-well fracking equipment remains fully booked with oil prices driving increased drilling. The largest provider of hydraulic fracking services used to complete shale oil and gas wells…
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ConocoPhillips boosts investor returns after bumper oil and gas profit
By Arunima Kumar (Reuters) -ConocoPhillips posted an 87.5% surge in third-quarter profit that topped Wall Street expectation on Thursday, extending a string of bumper earnings from oil producers benefiting from higher energy prices, and raised its share repurchase plan to $45 billion. The shale producer’s larger U.S. rivals Exxon Mobil and Chevron have also reported…
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Kinder Morgan tops profit estimates on higher jet fuel, LNG volumes
By Arunima Kumar (Reuters) -Kinder Morgan Inc surpassed Wall Street estimates for first-quarter profit on Wednesday as strong demand for jet fuel and natural gas boosted volumes at the U.S pipeline operator. Exports of U.S. liquefied natural gas (LNG) to Europe have hit record levels after Moscow’s invasion of Ukraine as the European Union tries…
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Barrick Gold announces $1 billion buyback as quarterly earnings jump
By Helen Reid and Arunima Kumar (Reuters) – Barrick Gold Corp on Wednesday announced a share buyback of up to $1 billion as the miner’s fourth-quarter results beat analysts’ estimates following strong production at its Nevada mines and a smaller tax take than expected. Barrick’s U.S.-listed shares rose around 5% at the open. Net earnings…