Mubadala Petroleum eyes $2bn Southeast Asia sale


Mubadala Petroleum has put its Southeast Asia portfolio up for sale for $2 billion. The Abu Dhabi-based company will be following in the footsteps of ExxonMobil, Chevron, Shell, Murphy Oil, Hess, Repsol and Eni, all of which are looking to sell assets in the Asia region.


Hess Corp to cut 300 jobs


The oil and gas company Hess Corp. said it will lay off about 300 employees or 13 percent of its workforce this year as it labors to sell assets, slim down operations and post its first quarterly profit since 2014.

Oil & Gas

Oil producers curb mega-project ambitions to focus on US shale


A stubborn 16-month crude rout with no end in sight is driving the largest US oil producers away from costly, high-risk mega-projects long touted as the industry’s future and toward safer shale operations that generate the cash needed to satisfy anxious investors.