Tuesday, January 19, 2021

Bp Plc News

Coronavirus, Consolidation Taking Toll On Energy Jobs

© wanfahmy / Adobe Stock

Oil and gas companies worldwide are taking an axe to their employment rolls, shedding workers to survive what is expected to be a prolonged stretch of weak demand.Exxon Mobil Corp said it will cut its workforce by 15%…

Chevron Posts Q3 Profit

Michael K. Wirth, Chevron’s chairman of the board and chief executive officer. Photo courtesy Chevron Corporation

Chevron on Friday reported an adjusted third-quarter profit as oil prices recovered from spring lows and spending cuts benefited operating results.Chevron and its peers have slashed…

Exxon to Cut 14,000 Jobs as Pandemic Hits Oil Demand

© Ricochet64 / Adobe Stock

ExxonMobil Corp said on Thursday it could cut its global workforce by about 15%, including deep white-collar staff reductions in the United States, as the COVID-19 pandemic batters…

Offshore Oil Wells, Ports Shut as Hurricane Sally Advances on U.S. Gulf

Hurricane Sally (Photo: NOAA)

Energy companies, ports and refiners raced on Monday to shut down as Hurricane Sally grew stronger while lumbering toward the central U.S. Gulf Coast, the second significant hurricane…

New Zealand Refiner to Shrink. May Turn into Fuel Import Terminal

Image Credit: Refining NZ

Refining NZ said on Thursday it is considering shutting New Zealand's only oil refinery and turning it into a fuel import terminal in the long run, but first will reduce its operations…

Chevron Cuts Spending, Says Asset Sales Lift Profits

© Andrei / Adobe Stock

Chevron Corp on Friday slashed its capital spending plans by another $2 billion as the coronavirus pandemic guts demand for oil and gas, while delivering a year-over-year 38% increase…

Woodside Watching Supermajors' Woes for Opportunities

Peter Coleman (File photo: Woodside)

Woodside Petroleum is keeping a close eye out for assets that might come up for grabs from the oil supermajors amid the oil market rout, seeing itself in a position to bid, Chief…

When Oil Became Waste

© eaumstocker / Adobe Stock

A week of turmoil for crude, and more pain to comeThe magnitude of how damaged the energy industry is came into full view on April 20 when the benchmark price of U.S. oil futures…

Diamond Offshore Files for Bankruptcy

Diamond Offshore's Ocean Onyx semi-submersible drilling rig. Image by Stephen Walter Sr. / MarineTraffic

Diamond Offshore Drilling Inc filed for bankruptcy protection in Texas on Sunday, after the company recently skipped making an interest payment and said it had retained restructuring…

BP Issues Force Majeure Notice for Golar FLNG Unit

(Image: BP)

Golar LNG Ltd said on Tuesday that it received a force majeure notice from a BP Plc unit seeking to delay taking delivery of a floating liquefied natural gas facility by a year.The…

OPEC+ Debates Biggest Ever Oil Output Cut as Virus Destroys Demand

OPEC and allies are working on a deal for an unprecedented production cut equivalent to around 10% of global supply, an OPEC source said after U.S. President Donald Trump called…

U.S. Offshore Oil Lease Sale Weakest Since 2016

Silhouette of an oil platform at sunset in the Gulf of Mexico - Image by Lukasz Z / AdobeStock

A major sale of oil and gas leases in the U.S. Gulf of Mexico on Wednesday generated $93 million in high bids, the lowest total for any U.S. offshore auction since 2016, reflecting…

ExxonMobil Calls for Tighter Methane Regulations

© Alexey Novikov / Adobe Stock

ExxonMobil on Tuesday called for tighter regulation of the greenhouse gas methane and offered up its own in-house rules as a model for companies and lawmakers worldwide.The largest U.S.

India to Invite Foreign Investment in State-owned Oil Companies

© NAKORN P / Adobe Stock

International energy firms will be invited to participate in India's privatization of state-owned oil companies, the country's Oil Minister Dharmendra Pradhan said late on Monday.Pradhan…

West of Shetlands Ups Offshore Production

West of Shetland production likely to overtake North Sea for Shell and BP’s UK portfolios by 2020, said a report.Over the last four years oil and gas production in the West of Shetlands has risen and with that…

Moment of Truth for Brazilian Oil Auction is Here

Reuters graphic of Brazil Oil blocks

Executives from many of the world's biggest oil companies gathered in Rio de Janeiro on Wednesday to compete in Brazil's long-awaited transfer-of-rights (TOR) oil bidding round…

Chevron Profit Falls

© SUNDRY PHOTOGRAPHY / Adobe Stock

Chevron Corp reported a larger-than-expected 36% drop in third-quarter profit on Friday, hit by lower oil and gas prices despite an overall increase in its output.Results mirrored…

ExxonMobil Profit Halves

© currahee_shutter / Adobe Stock

Exxon Mobil Corp's third-quarter profit nearly halved, hit by lower oil prices and weaker margins in refining and chemicals, with its three major business reporting lower year-over…

Woodside Targets Scarborough FID in Early 2020

(Photo: Woodside)

Woodside Petroleum Ltd has pushed out the final approval date for its mammoth Browse gas project but slightly brought forward plans to sign off on its smaller Scarborough project…

BP Wins Offshore Oil Block in Brazil with $75 mln Bid

© marchello74 / Adobe Stock

BP PLC won the production and exploration rights for Brazil's offshore S-M-1500 block in the Santos Basin on Thursday, paying the government a signing bonus of roughly 308 million reais ($74.6 million).Relatively major b