Daily Digest: January 31st, 2020

Australian gas and power retailer, Origin Energy, said Australia Pacific LNG (APLNG) revenue for the three months to December 31 (Q2 2020) dropped 3% year on year driven by lower effective prices. APLNG is a joint venture comprising Origin, ConocoPhillips and Sinopec.

New South Wales will upgrade parts of the east coast power grid, help pay for two new interstate transmission links and back emissions reduction projects following a deal between New South Wales (NSW) and Canberra announced. 

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State-owned Indian Oil Corporation January 30 said its standalone net profit during the three months to December 31 (Q3 2020) jumped 226% yr/yr thanks to inventory gain.

Thai state-run PTTEP’s net profit in 2019 stood at $1.57bn, up 40% yr/yr thanks to higher sales volumes, it said January 30 in a statement.

London-listed Coro Energy said on January 31 it had dropped plans to buy a stake in the Bulu production-sharing contract (PSC) off  Indonesia – a deal it first agreed to over a year ago.

Lundin Petroleum’s core earnings surged by almost 45% yr/yr in the fourth quarter, on the back of the launch of the Johan Sverdrup oil project in October, the Swedish company reported. 

The number of gas-fuelled vehicles in Finland broke the 10,000 mark last year, and while new registrations of cars fell by 5.2%, the number of gas-fuelled cars that were registered rose 84%, said state utility Gasum.

Norway’s Equinor and Anglo-Dutch Shell have bought US oil services giant Schlumberger's 49% stake in the onshore Bandurria Sur block in Argentina’s Vaca Muerta shale oil and gas play.

Finnish utility Gasum will deliver LNG to Norwegian state Equinor’s new crude shuttle tankers, it said. 

Fourth-quarter profits at ExxonMobil were down 5.2%, the US major reported, as divestments failed to offset weak downstream performance.

US major Chevron also said it had a loss in 4Q 2019, joining ExxonMobil and Anglo-Dutch major Shell in reporting significant plunges in income in the last three months of 2019.