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oil producer
Green flying will lead to higher prices. Can it takeoff?
Anthony Nolan, pointing to the royal warrant emblazoned on one of the 23 green-and white trucks at Olleco’s depot near Heathrow Airport, points out the procession of British Airways aircraft shaking the roof tiles.
The commercial…
SLB and Halliburton See Strong International Demand Amid Earnings Reports
SLB and Halliburton, two of the world’s leading oilfield service providers, reported strong international demand for crude drilling after posting earnings that met or exceeded expectations, supporting their shift into overseas markets.…
Labour faces legal challenges over its plan to ban all new North Sea licenses immediately
The Labor government faces a legal dilemma in its plans to ban new North Sea oil exploration and gas before the latest licensing round for the industry closes.
After sweeping to power with a pledge that it would end the granting of new…
BP says that global oil demand is expected to peak in 2025. This will bring an end to rising…
BP predicted that global carbon emissions will stop rising by mid-2020 due to a boom in wind and solar energy.
In its influential outlook report, the energy company found that oil consumption will rise by approximately 2m barrels per day…
The world’s largest oil company is betting on the power of petrol
Saudi Aramco, the world's biggest oil company, is betting that the internal combustion engines will last for "a very, very long time". The company sees a potential business opportunity in the growth of electric cars.
Last month, the…
Energy watchdog warns of a’staggering oil glut’ by the end of the decade
International Energy Agency warns that the world will face a "staggering surplus" of oil by the end decade. This is equivalent to millions of barrels per day as oil companies continue to increase production.
The IEA's annual report on…
New Zealand lifts oil drilling ban amid fears of blackouts, a blow to Starmer’s plan
On Saturday night, New Zealand's government was expected to lift a ban on oil and gas drilling amid fears of blackouts. Labour also plans to implement a similar crackdown in the North Sea.
The coalition government of the country is…
Weekly Industry Highlights: Key Updates in Oil, Gas, and Mining Sectors
The weekly highlights in both the oil and gas industry and the mining sector feature significant updates from various companies, shedding light on ongoing activities and advancements within these industries.
North Sea oil project delayed due to tax uncertainty ahead of election
Three oil and natural gas companies delayed making a decision about a new project in the North Sea, due to uncertainty regarding whether a possible Labour government would increase windfall tax penalties.
The Buchan project, worth £900…
ConocoPhillips buys Marathon Oil for $22.5 billion
ConocoPhillips agreed to purchase rival Marathon Oil, valuing the Houston-based firm at $22.5bn including debt. This is part of a wave that continues to sweep across the US oil patch.
Conoco, one of the largest independent oil and…
US oil giant pulls out of North Sea following industry meeting with Hunt
Chevron, the US oil giant, has announced that it will leave the North Sea after more than 55 years. This announcement comes just a day after Jeremy Hunt rejected industry requests for support in a private meeting.
Chevron announced that…
BP Reports Lower-Than-Expected Profits in First Quarter
London-listed oil major BP PLC recently announced its first-quarter financial results, which fell below market expectations. The company reported a profit of $2.72 billion, missing the forecasted $2.87 billion and significantly lower than…
Shell earns $1bn per year in US oil trading according to court documents
Shell's oil trading activities in the United States generate about $1 billion per year, according to court documents that provide a rare glimpse into Shell's secrecy trading division.
A former Shell employee revealed the figure in court…
Petrofac’s shares to be suspended due to delayed annual results
Petrofac is under increasing pressure after it announced that it would miss the next bond payment, and delayed its release of annual results.
The shares of the oilfield service group, which has been struggling with cashflow, plunged…
Middle East conflict risks sharp rise in oil prices, says IMF
The International Monetary Fund warned that an escalating Middle East war could lead to higher oil costs, a reversal in the recent drop in inflation, and a dampening of the optimism on the financial markets.
The Washington-based IMF has…
Shell’s exit from the FTSE could cause a dam to break
City nerves jangle when FTSE giant feels unvalued
Net zero is still decades away, but we have spent endless hours imagining what a world would be like without oil.
London's stock exchange bosses, on the other hand, face a more…
As the Middle East crisis intensifies, drivers will face a rise in petrol prices
The escalating Middle East crisis threatens to push oil prices to close to $100 per barrel.
The RAC has warned that the price of petrol could reach £1.50 a litre if Iran’s attack on Israel causes crude to rise. Oil prices have already…
Former chief executive says Shell is’massively underestimated’ in London
Former Shell head says oil giant is "massively underestimated" in London, and could benefit from moving its listing to US. This is another blow for the UK stock exchange.
Ben van Beurden who was responsible for Shell's shift from The…