New £5m boost for researchers assessing North Sea oil and gas and renewables structures
A research group assessing man-made North Sea structures has been given a boost with the announcement of £5 million in new funding.
Chevron
Sasol sells Escravos stake, works on Mozambique sale
Sasol has signed a deal to sell its indirect stake in the Escravos gas-to-liquids (GTL) plant, in Nigeria, to Chevron.
Oceaneering wins Angola work
Oceaneering has won inspection work in Angola from a Chevron subsidiary.
Oil majors ‘still falling short’ of climate goals – Carbon Tracker
Oil majors are “falling short” of global climate goals despite their updated emissions targets, according to a new report.
Shell plans ‘major restructuring’ in net zero push: Report
Shell will announce a major restructuring by the end of the year, according to a news report, as the firm makes a shift for the energy transition.
BP-scale job cuts ‘good ballpark estimate’ for every oil major – Rystad
BP-scale job cuts of 15% worldwide is a “good ballpark” estimate for every oil major, according to consultancy Rystad Energy.
ExxonMobil is the least resilient oil supermajor – Wood Mackenzie
New research has named ExxonMobil as the least "resilient" supermajor to weather the current oil downturn.
Pandemic drives oil reserves up for sale to 12.5billion barrels – Rystad
The Covid-19 pandemic has increased the number of oil and gas assets being put up for sale globally past 12.5billion barrels in reserves, according to new analysis.
Chevron puts 6,000 employees at risk of redundancy
Chevron Corp. is planning a 10% to 15% reduction in its global workforce this year, the biggest cut to headcount yet among global oil majors following the Covid-19 pandemic.
Oil CEOs write open letter saying pandemic ‘sharpens focus’ on climate goals
The chief executives of 12 major oil and gas firms have written an open letter saying the Covid-19 pandemic won't delay climate action but has instead "sharpened" the focus on it.
Oil anchored in mid-$30s while US-China tensions rise
Oil was anchored near $33 a barrel as an escalating war of words between the U.S. and China added to caution over the prospects for a global recovery in demand.
Australia looks to Big Oil in latest plan to curb emissions
Australia is seeking to cut emissions in one of the world’s biggest per-capita polluters by encouraging oil firms including Chevron Corp. and Woodside Petroleum Ltd. to invest in carbon-reduction projects.
Some supermajors want to remain oil giants but not ‘look like it’, activist investor says
A Dutch shareholder activist has accused some oil and gas majors of talking the talk but not walking the walk on shifting to cleaner investments.
Ithaca still eyeing Captain EOR project in 2020 but new infrastructure firm ‘on ice’
Ithaca Energy is still planning to move ahead with a project to boost production from one of its flagship North Sea fields this year, despite deferrals and slashed spending.
Impairments lead Ithaca Energy into the red while virus delays future projects
Impairments led North Sea operator Ithaca Energy to a £111.4m pre-tax loss in 2019, while the Covid-19 outbreak threatens delays to future projects.
Will Covid-19 kill the oil industry?
As Coronavirus lockdowns continue to spread around the world, the oil industry faces more disruption to demand and supply chains, with many margins and prices already collapsing.
ExxonMobil signs deal with Sonatrach
Sonatrach has signed a memorandum of understanding (MoU) with ExxonMobil, shortly after similar agreements were reached with Zarubezhneft and TPAO.
Subsea 7 to carry out work for Chevron in Gulf of Mexico
Oilfield services firm Subsea 7 has announced it will carry out work for Chevron in the Gulf of Mexico.
Angolan production declines bite deep
Companies operating in Angola have reported a production decrease of 18.7% from 2017 to 2019.
BP to work with shareholder activist group on climate resolution
Oil and gas giant BP is set to work with a shareholder activist group towards a climate resolution, it announced today.
Total, Chevron terminate Valaris rigs off Angola
Total and Chevron have cancelled rigs contracted from Valaris, working in Angola, the drilling company has announced.
Oil’s 60% crash is the tip of an iceberg. The reality is worse
As oil crashes due to the impact of the coronavirus, it’s easy to overlook an even more dismal reality for producers: the real prices they’re getting for their barrels are worse still.
HSE warns Ithaca after exposing workers to risk of ‘fire and explosion’ on North Sea vessel
Ithaca Energy has been warned by the UK's safety watchdog after exposing workers to “risk of serious personal injury or death from fire and explosion” on a North Sea vessel.
Finding the Aquaterra Energy sweet spot
Construction and installation of subsea structures can be challenging in countries with limited local capacity, and Aquaterra Energy aims to fill a niche with its conductor supported platform (CSP).
Big Oil’s big crisis: Saving sacred dividends from collapse
To understand the crisis engulfing the world’s largest oil companies, just look at their dividend yields.