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BP reports 45% earnings drop in Q1 2024, cites lower energy prices
British oil and gas giant bp's earnings for Q1 2024 were $2.7bn, down 45% from the same period in 2023, …
US natural gas prices up 3% to 14-week high
US natural gas futures gained around 3% to reach a 14-week high on Monday following forecasts for higher demand over …
BW Group to separate oil and gas exploration business
Global maritime company BW Group has announced a corporate restructuring that will see its oil and gas exploration business, BW Energy, …
New report accuses fossil fuel companies of greenwashing, but profits are up
Last week, US Democrats released a report three years in the making detailing the ways that large fossil fuel producers …
ADNOC abandons talks to acquire stake in Brazil’s Braskem
Abu Dhabi National Oil Company (ADNOC) has ceased discussions regarding the acquisition of a majority stake in the Brazilian petrochemical …
Shell to exit downstream businesses in South Africa, Malaysia
Shell has announced its intention to divest from its downstream operations in South Africa and is currently negotiating the sale …
Sinopec eyes stake in Canada’s Cedar LNG project
Chinese oil company Sinopec is in talks with Pembina Pipeline for an LNG offtake agreement and equity stake in the Cedar …
UK’s NSTA awards 31 new North Sea oil and gas exploration licences
North Sea Transition Authority (NSTA) has awarded 31 new oil and gas licences in the North Sea, supporting UK energy …
Glencore, PT Chandra Asri nears $1bn deal for Shell’s Singapore assets
A group including Swiss trading company Glencore and Indonesia’s PT Chandra Asri Pacific are in advanced negotiations to acquire Shell’s …
Occidental eyes over $1bn from Permian basin assets sale
Occidental Petroleum is exploring a sale of its assets in the Permian basin's Barilla Draw region, which could garner over …
Azule Energy signs farm-in agreement for oil block offshore Namibia
Azule Energy, a joint venture between bp and Eni, has announced a farm-in agreement with Rhino Resources Namibia for a …
Oil and gas firms turning to digital twins for generating actionable insights
Digital twins are digital representations of physical assets, systems, people, or processes. These are rapidly becoming a mainstay in oil …
Gunvor signs deal with LNEnergy for Italian LNG supply
Switzerland-based energy trader Gunvor has entered into a non-binding agreement to procure LNG from LNEnergy's proposed facility in Italy. The LNG …
UK will allow fossil fuel companies to explore under offshore wind farm sites
The UK Government will allow fossil fuel companies to explore for oil and gas under offshore wind power sites for …
Gazprom posts first annual loss in 20 years
Gazprom has posted its biggest losses in at least a quarter of a century after gas sales more than halved …