Saturday, 31 October 2026

ExxonMobil has agreed to raise its working interest in the Rovuma LNG project in Mozambique to 50%, according to World Oil. The company also agreed to increase its working interest in Papua LNG in Papua New Guinea to 34%, World Oil reported.

ExxonMobil said it has assumed operatorship at Papua LNG.

Forum Energy Technologies raised its full-year 2026 guidance to revenue of USD 900 million to USD 920 million and adjusted EBITDA of USD 123 million to USD 129 million, according to World Oil.

FET cited strong demand and improving industry activity when it lifted the outlook, World Oil reported.

The company's Drilling and Completions segment posted third-quarter revenue of USD 147 million, according to World Oil. That figure rose 6% from the second quarter and about 25% from a year earlier, with growth across every product line, World Oil reported.

ExxonMobil posted third-quarter 2026 earnings of USD 15.4 billion, or USD 3.72 per share, double the USD 7.5 billion, or USD 1.76 per share, it earned a year earlier, according to Oil & Gas Journal.

Adjusted Energy Products earnings more than doubled quarter on quarter, climbing to USD 9.1 billion from USD 4.1 billion in the second quarter, Oil & Gas Journal reported.

First Solar lowered its full-year 2026 net sales guidance to between USD 4.6 billion and USD 4.9 billion, according to pv magazine, after tariff uncertainty slowed orders.

The revised range sits below the USD 4.9 billion to USD 5.2 billion the company reported after the second quarter, per pv magazine.

The company also cut its full-year volume sold forecast to between 16.0 GW and 17.0 GW, pv magazine reported, citing the slowdown in sales.

Seatrium secured an FPSO integration contract valued at over S$200 million from SBM Offshore N.V., according to Offshore Magazine.

The scope covers fabrication of mooring and riser support structures, a flare tower and associated topside support structures, along with vessel modification and drydocking activities. Seatrium's work also includes integration of topside modules.

Project execution is expected to begin in the fourth quarter of 2026, with completion scheduled for 2029, according to Offshore Magazine.

Adani Group is reportedly interested in acquiring Dutch energy storage operator VTTI at a valuation of around USD 3.4 billion, according to The Industry Outlook.

Deliberations over the potential transaction remain ongoing, with no certainty that a deal will occur, BusinessToday reported. Other bidders are actively pursuing a stake in the business.

The Industry Outlook described Adani Group's reported interest as a strategic pivot toward energy storage.

TotalEnergies retained its full economic interest in three gas licences held by the Renaissance JV after selling its oil interest, according to Machine Maker. The licences are OML 23, OML 28 and OML 77.

The three retained licences currently account for 50% of the gas supplied to Nigeria LNG, Machine Maker reported, describing the output as an important part of the country's gas production and export operations.