BP plans to abandon an ambitious goal to reduce its oil and natural gas production by the year 2020 as it fights to close a valuation difference with competitors in
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The Treasury has moved to quell a heated dispute with the North Sea oil and gas industry by committing to maintain investment reliefs on low-carbon projects. This decision aims to
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
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. SLB announced second-quarter earnings of 85 cents a share, excluding certain items, surpassing analysts' expectations, according to a Friday statement. Halliburton reported earnings of 80 cents a share, matching expectations.
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
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
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
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
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 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.
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
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
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
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
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,
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
