Saudi Arabia’s state owned oil giant, the Saudi Arabian Oil Company (SAOC), is planning to spend almost £100bn on crown prince Mohammed bin Salman mega-projects despite a drop in profits.
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Shell is set to buy back shares worth $3.5bn in the coming quarter, after its first-quarter profits were higher than expected at almost $8bn. The company said it would pay
The government will announce Friday that fossil fuel companies can now explore for oil or gas beneath offshore wind power sites. Campaigners say this is a further sign that ministers
ExxonMobil oil traders in Brussels who refuse to move to London because of low pay are at risk of losing their jobs. Unions warn that staff at the multinational company
The World Bank said that a serious increase in tensions in the Middle East could push the oil price to $100 (£80) per barrel, and reverse the recent decline in
The US has reimposed sanctions on Venezuelan oil, claiming that President Nicolas Maduro’s socialist revolution government “failed” to meet its commitments of holding a fair and free presidential election in
Three of the largest commodity traders in the world said that their combined profit of $23bn last year shows they can continue to grow strongly without turning to public markets.
A UK energy firm is about to begin drilling in the largest oil field found in the North Sea for at least 20 Years despite a crackdown of net zero
Citadel, a hedge fund giant, says that oil markets will become “extremely tight”, in the second half this year. This is because Opec+ has control over the market and can
The UK is now dangerously exposed after squandering its most valuable asset. A massive, deserted oil platform lies abandoned in the North Sea. Brent Charlie is the final remnant of
IFS warns that the decline in North Sea revenue will cause a shortfall of up to £4,100 per person. The Institute for Fiscal Studies has warned that Scotland will face
BP has halted negotiations on a $2bn deal (£1.56bn), which would have invested in an Israeli gasfield, as warfare with Hamas rages in Gaza. The British oil giant was expected,
Saudi Aramco increased its dividend by almost $100 billion as it reported its second highest annual profit ever, despite lower oil prices and the state-led production cutbacks that weighed on
After lowering its natural gas price projections, Britain’s largest oil and gas producer anticipates generating less free cashflow this year than expected. Harbour Energy’s free cashflow will be “marginally” positive
Saudi Arabia, Russia and other Opec+ countries have extended their voluntary cuts in oil production by another three months. They are trying to increase prices which have been subdued despite
On January 24th 2024 Pantheon Resources PLC held a post-AGM investor presentation, providing insights into their ongoing projects and future plans. Here's a breakdown of some key highlights from the discussion points
