oil majors Archives - Page 2 of 2

Exclusive-Energy majors bid for Qatar LNG project despite lower returns

June 14, 2021

Houston Times 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 number of massive initiatives world wide not too long ago stalled. Exxon Mobil (NYSE:), Royal Dutch Shell (LON:), TotalEnergies and ConocoPhillips

Special Report-How oil majors shift billions in profits to island tax havens

December 9, 2020

Reuters 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 and 2019, Shell earned more than $2.7 billion – about 7% of its total income in those years – tax-free

Big carbon? Oil majors turn to nature to help plug revenue gap

December 8, 2020

Reuters 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 Finite Carbon, a company that connects forestry owners with companies seeking to offset their climate-warming emissions via-tree planting. The Californian

Oil majors wipe $80 billion off books as epidemic, energy transition bite

December 1, 2020

Reuters 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 of the coronavirus epidemic and the energy transition. Exxon Mobil, the largest U.S. oil company, announced on Monday it would

‘It is going to be brutal’: What to expect as oil and gas majors unveil their second-quarter results

July 23, 2020

CNBC 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 2020. “Big Oil” companies, referring to the world’s largest oil and gas majors, witnessed a historic fall in oil and

Oil majors, governments haggle over sharing pain of deepest cuts yet

April 28, 2020

Reuters 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 of the coronavirus pandemic. Oil majors have traditionally escaped big cuts in OPEC nations, such as Nigeria, and have never

Market bounce is an ‘aftershock’ with ‘pretty horrific’ earnings to come, Citi analyst says

April 7, 2020

CNBC 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 more than an “aftershock” and is not underpinned by volume or any guarantees of an end to the outbreak. Jimmy

Oil jumps ahead of OPEC-led talks on output cuts- oil and gas 360

Graphic: Oil majors cut 2020 spending by 22% after prices slump

April 7, 2020

Reuters 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 and Russia. Cuts announced by nine major oil companies, including Saudi Aramco, Exxon Mobil and Royal Dutch Shell, come to

A sector in disarray’: Oil majors live beyond their means on investor payouts, study finds

January 16, 2020

Houston Chronicle 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 and Financial Analysis found that the five largest Big Oil majors — Exxon Mobil, Chevron, Royal Dutch Shell, BP and

CNOOC Signs Strategic Agreements with 9 Oil Majors

December 18, 2018

CNOOC Signs Strategic Cooperation Agreements with 9 International Oil Companies

Oil Majors Offload Singles and Doubles to Hunt Home Runs in Gulf

October 15, 2018

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 put a slew of assets in the Gulf up for sale in recent weeks, while Brazil’s state-run Petrobras this week

To Keep Up, Majors Need to Spend $30 Billion in the Permian: IHS

June 21, 2018

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 Monday. The IHS Markit report argues that Exxon Mobil, Chevron and, to a lesser extent, Royal Dutch Shell, will need

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