Reuters Guyana’s government on Wednesday launched a search for a company to market its share of crude produced at the offshore Liza well, where an Exxon Mobil Corp-led consortium began producing oil in December. The government is entitled to a share of the oil produced, and has said it was seeking a marketing agent to help it export the crude.
Reuters LONDON – The list of parties at London’s International Petroleum Week, one of the world’s biggest oil industry gatherings, continues to shrink as hosts such as ExxonMobil and Azerbaijan’s SOCAR cancel events due to the coronavirus outbreak, trading sources said. IP Week is a key annual oil traders’ gathering that takes place in February. Oil majors, national oil companies
Reuters AÑELO, Argentina – Just weeks into his young administration, Argentina’s new president convened a meeting with executives from Chevron Corp (CVX.N), Royal Dutch Shell PLC (RDSa.L) and other oil companies in a bid to smooth things over with an industry which he had slammed as a candidate months before. Campaigning last year against the South American country’s former market-friendly
Reuters ABERDEEN, Scotland – Total (TOTF.PA) beat forecasts on Thursday by keeping net adjusted fourth-quarter profit steady at $3.2 billion despite low oil prices and fulfilled a pledge to boost dividends, lifting the French energy firm’s shares. The stock rose about 3% before easing off its highs as the company bucked a trend in the industry which has seen profits
Reuters LONDON – The Church of England’s pension fund has shifted 600 million pounds ($789 million) into a new equity index that invests in companies deemed to be making progress towards the targets of the Paris climate agreement. The index, created by FTSE Russell, includes oil producers Royal Dutch Shell and Repsol, but not others such as BP, Exxon Mobil
CNBC Oil giant Royal Dutch Shell reported a sharp fall in full-year net profit on Thursday, citing challenging macroeconomic conditions and lower oil and gas prices. Net income attributable to shareholders on a current cost of supplies (CCS) basis and excluding identified items, which is used as a proxy for net profit, came in at $16.462 billion for the full-year 2019. That
Reuters LONDON – Royal Dutch Shell is reining in its vast $25 billion share buyback programme after lower oil and natural gas prices halved its profit in the last three months of 2019 and sent its shares to their lowest in nearly three years. The Anglo-Dutch energy company warned again that a slowing global economy could affect its buyback programme,
Houston Chronicle Royal Dutch Shell Plc is seeking a bigger share of Mexico’s fuel market, even as regulatory changes make it harder for foreign companies to compete. The Anglo-Dutch oil major, which already owns about 200 gasoline stations in 12 states in Mexico, plans to grow its share of the retail fuel market to as much as 15% from 1%
CNBC Shares of Royal Dutch Shell dipped 0.7% in trade Friday after the firm announced that it will book additional charges against its income in the fourth quarter. The Anglo-Dutch energy giant said it expects to log a fourth-quarter impairment charge ranging between $1.7 billion and $2.3 billion after tax. Details on the impairment were not provided. Swiss bank UBS described
Reuters Royal Dutch Shell (RDSa.L) said on Friday it expected to write down up to $2.3 billion in the fourth quarter, the latest major energy company forced to shrink estimates for sector values due to a weaker economic outlook. In a trading update ahead of full year results, Shell also lowered its oil products sales forecast, pointing to the first
Reuters LONDON (Reuters) – An activist group is increasing the pressure on five big U.S. and European oil companies with shareholder resolutions urging them to meet the Paris climate goals and cut carbon emissions. Dutch group Follow This is targeting U.S. giants ExxonMobil, Chevron and their European rivals Royal Dutch Shell, BP and Equinor with climate resolutions ahead of next
Reuters Tougher rules on sulphur emissions from ships will come into effect next year in the biggest shake-up for the oil and shipping industries for decades. IMO 2020 From January 2020, United Nations shipping agency the International Maritime Organization (IMO) will ban ships from using fuels with a sulphur content above 0.5%, compared with 3.5% now. The regulations are aimed
