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Crude Oil
Exxon: 20 Percent Of Global Oil And Gas Reserves may be Wiped Out
After a grim Q2 season for Big Oil, the world’s third-most valuable energy company is warning that 20% of the world’s oil and gas reserves may no longer be vi…
United Kingdom
BP To Cut Oil Production 40% By 2030, And Invest Billions Into Green Energy
In some refreshingly good news for the environment, news coming out of London, BP has announced that it is planning to cut oil and gas production by 40% and inv…
United Kingdom
BP Cuts Dividend for First Time in a Decade After Record Loss
The dive into the red came after the firm slashed the value of its oil and gas exploration assets in response to price forecasts.
Market Analysis
European Oil Major Trading Units Provide Buffer in Rough Second Quarter
The trading units of European oil and gas majors have shielded their second-quarter results from the full force of the corona-induced collapse in demand for fue…
Netherlands
Shell Swings to Loss on $16bn Impairment Charge but Pays Dividend
Royal Dutch Shell swung to a heavy net first-half loss, but paid a dividend as the Covid-19 crisis hammered oil and gas prices.
United States
Total Takes US$7-Billion Hit on Exposure to Canada's Oil Sands
Total SE announced an US$8.1 billion writedown after the push to curb carbon emissions and the coronavirus pandemic challenged assumptions about the viability o…
Oil&Gas Drilling
Eni Confirms Gas Potential in Discovery Offshore Vietnam
Italian oil and gas company Eni has discovered a significant hydrocarbon accumulation on the Ken Bau discovery located in Block 114, Song Hong Basin, offshore V…
CNOOC
Chinese Offshore Oil and Gas Company Joins ADNOC’s Concessions
ADNOC has entered into an agreement for the transfer of rights in its Lower Zakum and Umm Shaif and Nasr offshore concessions from the China National Petroleum …
Oil & Gas Trade
Sinopec Unit Sells Gas Pipeline Asset to PipeChina
China's new oil and gas pipeline company PipeChina has made its first purchase of gas infrastructure assets.
Watch Neptune Install Subsea Equipment for Two North Sea Projects
Neptune Energy has successfully installed subsea oil and gas production flowlines and gas lift flowlines for its Duva & Gjøa P1 developments in the Norwegian s…
Oil Pipeline
India: Unified Tariff on Gas Pipelines from September
In yet another reform initiative in the oil and gas sector, pipeline operators in the country may shift to a unified or pooled tariff regime for inter-connected…
Oil & Gas Trade
What’s Next For Oil And Gas?
Oil demand has been decimated by Covid-19, bottoming in April at 76 million barrels per day, down 25% from 102 million barrels per day in December 2019.
LNG
Total, Exxon Demobilize PNG LNG Expansion Workers Due to COVID-19
Oil and gas companies Total and ExxonMobil have idled workers at the troubled Papua New Guinea LNG expansion project due to the COVID-19 pandemic, project partn…
United States
US Oil & Gas Rig Count Falls to Record Low for 11th Week: Baker Hughes
The US oil and gas rig count, an early indicator of future output, fell by five to an all-time low of 253 in the week to July 17.
Norway
Norway’s Oil Industry Is Beginning To Recover
Norway sees oil and gas activity picking up after the market turmoil and the health crisis earlier this year, the Norwegian Petroleum Directorate said in its fi…
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