HOUSTON – Oil majors are targeting new oilfields that can be profitable even if oil prices fall to about $30 per barrel, using a third year of rising demand to reshape portfolios amid uncertainty over the industry’s future.
Investors …
HOUSTON – Four years ago, Texas oilman Scott Sheffield saw the oil majors were moving aggressively into the top U.S. shale basin and plotted to make his then-$24 billion Pioneer Natural Resources PXD.N the oilfield’s biggest prize.
The CEO …
Chevron and Spain’s Repsol have quit exploration at two offshore blocks in Mexico waters after early work suggested there are not enough resources to make it worthwhile to continue. The two had won the rights to explore the …
TotalEnergies, along with Italy’s Eni and the UK’s BP and Shell, have been at the vanguard of securing new oil and gas supplies for Europe to substitute for lost energy supplies from Russia since its invasion of Ukraine …
Two Big Oil majors have said they expect oil production in the Permian to rise by less than they had initially planned this year, suggesting industry problems are indeed serious enough to hold back production growth in the …
Despite weaker oil prices during the third quarter, the oil industry is still booking strong financial results. According to some, this is “awkward” because it is happening during a time of economic hardship. Besides being awkward, however, Big …
LONDON -Western energy majors will cut output and lose billions of dollars if Russia, as is feared, suspends a pipeline that is almost the only export route for oil from land-locked Kazakhstan, company sources, traders and analysts say.…
HOUSTON (Bloomberg) –The world’s biggest energy companies are producing the most cash in years, but don’t expect them to spend it on bringing on fresh supplies of oil and natural gas to combat shortages in Europe and China …
LONDON (Reuters) – Six high western power companies are vying to companion within the huge growth of Qatar’s liquefied output, business sources stated, serving to the Gulf state cement its place because the main LNG producer whereas a
Bermuda and the Bahamas aren’t exactly big players in the oil-and-gas world. They don’t produce any of the fuels at all. Yet the islands are deep wells of profit for European oil giant Royal Dutch Shell Plc.
In 2018 …
LONDON – Oil companies such as BP and Shell are nurturing nature as a future revenue stream, betting on an expected rise in carbon credit prices as their fossil fuel profits ebb.
BP last year put $5 million into …
LONDON – The world’s top energy companies have slashed the value of their oil and gas assets by around $80 billion (60.05 billion pounds) in recent months after revising lower the long-term outlook for fuel prices in the wake …
Oil and gas majors are likely to report “horrendous” second-quarter results over the next two weeks, energy analysts have told CNBC, with the three-month period through to the end of June widely expected to mark the “low point” of …
LONDON/MOSCOW – From Kazakhstan and Azerbaijan to Nigeria and Angola, oil majors are haggling with national governments over how to share out deep production cuts that add to their pain from low oil prices and depressed fuel sales because …
Global stock markets have started this week with a bounce, as hopes that the coronavirus pandemic may be peaking drove investors back into risk assets following a historic downturn.
However, Citi strategists have suggested that the rally is nothing …
LONDON- The world’s biggest oil and gas companies are cutting spending this year following a collapse in oil prices driven by a slump in demand because of the coronavirus crisis and a price war between top exporters Saudi Arabia …
The largest oil and gas companies for years have lived beyond their means and paid more money to investors than they can reasonably afford, according to a new report.
The study from the Cleveland-based Institute for Energy Economics …
CNOOC Signs Strategic Cooperation Agreements with 9 International Oil Companies
…
From Bloomberg
(Bloomberg) — Big Oil is giving up looking for singles and doubles in the Gulf of Mexico: Now it’s home runs or bust.
Exxon Mobil Corp. and Royal Dutch Shell Plc, the world’s two biggest oil companies, have …
From the Houston Chronicle
Oil majors led by Exxon Mobil and Chevron will need to bulk up their Permian Basin spending to meet their growth goals, triggering more consolidation and higher costs for oilfield services, according to a new report …
