Tagged Crude Oil

Poland’s PGNiG profit hit by impairments

Rate this article By Mirza Duran Poland’s dominant gas firm and LNG importer PGNiG reported a 29 per cent lower net profit in the first quarter, hit by impairments. Swinoujscie LNG terminal (Image: PGNiG) Quarterly net profit stood at 779 million Zlotys ($196m) when compared to 1.1 billion Zlotys in the January-March period last year….

Petronas books smaller profit after being hit by lower prices

Rate this article By Nermina Kulovic Petronas saw its profit and revenues drop in the first quarter of 2020 after being hit by lower average realised prices for LNG, petroleum products, and crude oil & condensates. The post… … Read Full Article Here For more great articles: Offshore Energy Today

COVID-19 effects push Novatek into red

Rate this article By Adnan Bajic Russia’s largest private natural gas producer and LNG player Novatek slipped into red under the COVID-19 impacts. Image courtesy of Novatek Novatek reported a net loss of ₽30.7 billion ($416.8 million) in the first quarter of the year. This compares to a profit of ₽381.8 billion ($5.2 billion) reported…

Tokyo Gas flags $262.7 million impairment loss

Rate this article By Adnan Bajic Japanese utility, Tokyo Gas revised its results forecast flagging a ¥28.4 billion ($262.7 million) impairment losses for the year ended March 2020. Image courtesy of Tokyo Gas The impairment losses are a result of a re-evaluation of the upstream projects in the United States, Ichthys LNG project in Western…

Bahri’s Q1 2020 earnings soar amid higher rates

Rate this article By Jasmina Ovcina The world’s largest owner and operator of very large crude oil carriers (VLCCs) Bahri […] The post Bahri’s Q1 2020 earnings soar amid higher rates appeared first on Offshore Energy. … Read Full Article Here For more great articles: Offshore Energy Today

Lundqvist Rederierna orders LNG-powered Aframax

Rate this article By Mirza Duran Finnish shipping company Lundqvist Rederierna has ordered a liquefied natural gas-powered Aframax tanker from Japan’s Sumitomo Heavy Industries. Alfa Finlandia (Image courtesy of Lundqvist Rederierna) The 112,000-deadweight-tonnage ship is scheduled for delivery by January 2022, according to Lundqvist Rederierna. Lundqvist Rederierna did not reveal the price tag of the…

Chevron swings to $6.6 billion quarterly loss

Rate this article By Offshore Energy Today.. Chevron sank to a loss in the fourth quarter of 2019 from a profit in the same period of 2018 due to impairments and write-offs and lower crude oil and natural gas prices. … Read Full Article Here For more great articles: Offshore Energy Today