Misguided claims of gasoline price gouging continue to bounce around Capitol Hill with the latest salvo coming from Energy & Commerce Committee Chairman Frank Pallone (D-N.J.) even though both Democratic and Republican-aligned economists, independent energy analysts, and the media have stated over and over again that no such practices exist. Citing the House Oversight investigation
Read More...Antero Resources reported a net loss of $536 million or $1.99 per diluted share in the third quarter 202, Kallanish Energy reports. That compares to a net loss of $879 million or $2.86 per share in the 3Q 2019. The loss was driven by a $749 million unrealized commodity hedge fair value loss as a
Read More...China’s Sinopec reported a net profit attributable to shareholders of 24.45 billion yuan ($3.64 billion) during the third quarter, while boosting natural gas sales and maintaining production levels, Kallanish Energy reports. The company said in its financial statement net profit was down 44.7% compared to the 44.22 billion yuan ($6.6 billion) recorded a year ago,
Read More...Russia’s largest independent gas producer, Novatek, saw its production rise 4.5% year-on-year during the third quarter of 2020, despite a slight decline in total sales volumes, Kallanish Energy reports. The company said in its Q3 results that total gas production reached 19.13 billion cubic meters (Bcm) in the July-September quarter, up from 18.31 Bcm a
Read More...Norway’s Equinor posted on Thursday a net loss of $2.12 billion in the third quarter of 2020, hit by weak hydrocarbon prices but, mostly, impairment charges due to reduced future price assumptions. The company’s net income was 92% lower than the same period last year at $1.11 billion, as it recorded impairment charges of $2.93
Read More...ConocoPhillips has reported a third quarter 2020 net loss of $450 million or 42 cents per share, Kallanish Energy reports. That compares to 3Q 2019 net earnings of $3.1 billion or $2.74 per share. Third quarter 2020 adjusted earnings were a loss of $300 million or 31 cents a share, compared with 3Q 2019 adjusted
Read More...Antero Resources has reported a GAAP net loss of $463 million or $1.73 per share in the second quarter 2020, Kallanish Energy reports. That compares to a net income of $42 million or 14 cents per share in 2Q 2019. The company has not curtailed any prediction due to the coronavirus pandemic and resulting low
Read More...Oilfield services firm Baker Hughes, a GE company, delivered what chairman and CEO Lorenzo Simonelli called a “solid” first quarter, due to stabilizing global oil and natural gas markets, Kallanish Energy reports. “The U.S. rig count dropped slightly less than expected, and international activity remained steady; the LNG market is very active,” Simonelli said. During
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