French oil major TotalEnergies third-quarter profit hit a three-year low of $4.1 billion on Thursday, slightly missing expectations as refining margins and upstream outages dragged down earnings.Adjusted net income was down 37% from a year earlier and 12…
BP on Tuesday reported a 30% drop in third quarter profit to $2.3 billion, the lowest in almost four years, weighed down by weaker refining margins and oil trading results.The drop in profit from a year earlier was, however, smaller than expected…
Flaring emissions from global upstream oil and gas production activity increased by 7% from 2022 to 2023, according to latest Rystad Energy research.Upstream activities emit about 1 gigatonne per year of CO2 in total, with flaring contributing…
Britain has imposed sanctions on 18 further Russian oil tankers and four liquefied natural gas vessels, the largest batch of sanctions to date against the country's so-called 'shadow fleet,' the government said on Thursday.Britain says the 'shadow…
MOL Group and Turkish Petroleum Corporation (TPAO) have signed a memorandum of understanding (MoU) to cooperate as strategic partners in the exploration and production of hydrocarbons.The companies agreed to elevate their cooperation to a new…
Mermaid Subsea Services has completed the first stage of a major North Sea decommissioning contract for Shell, ahead of the next phase scheduled to begin in 2025.Delivered ahead of schedule, the initial phase of the multi-year campaign involved…
Consulting and engineering firm Wood has taken charge of the Joint Industry Partnership (JIP) to create industry guidelines for CO2 specifications to accelerate sustainable carbon capture, utilization and storage (CCUS) projects.The guidelines…
Shell said on Tuesday it has started the process of restoring oil production at its Stones platform as the forecast of a looming major hurricane in the U.S. Gulf of Mexico shifted.Shell had shut down production on Sunday at both the Stones and…
India will not buy liquefied natural gas (LNG) produced from Russia's Arctic LNG 2 project, which is sanctioned by Western countries, Oil Secretary Pankaj Jain said on Friday.'We will not buy (supply from) Arctic LNG 2. We are not buying any sanctioned commodity…
BP has abandoned a target to cut oil and gas output by 2030 as CEO Murray Auchincloss scales back the firm's energy transition strategy to regain investor confidence, three sources with knowledge of the matter said.When unveiled in 2020, BP's…
TotalEnergies and its partners, Equinor and Shell, have completed the construction of receiving and storage facilities of the Northern Lights carbon capture and storage (CCS) joint venture in Norway, which is now ready for its first CO2 injection…
Trinidad and Tobago selected oil and gas producer Shell as the preferred bidder for a shallow water block, beating out bids from BP and EOG Resources, three people close to the process said.Trinidad and Tobago has in recent years struggled to…
Kosmos Energy said on Tuesday a Paris-based arbitrator has ruled in favor of BP, prohibiting Kosmos from selling to third parties liquefied natural gas from the Greater Tortue (GTA) project offshore Senegal and Mauritania.LNG is key to BP's strategy and broader energy transition plan…
The CEO of the Kremlin-controlled energy giant Gazprom said on Thursday that Europe was damaging its own industrial sector by artificially destroying demand for gas, as Russian gas exports to the region have shrivelled.Alexei Miller said there could be gas price shocks and supply disruption ahead…
Brazilian state-run oil company Petrobras has received approval from its board to acquire a 10% stake from TotalEnergies in Deep Western Orange Basin (DWOB) block, offshore South Africa.The DWOB block is located in deep waters in the Orange Basin…
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