Exxon Mobil Corp. (NYSE:XOM) and Chevron Corp. (NYSE:CVX) surpassed earnings forecasts as bigger-than-expected oil output from shale fields helped cushion the blow from weakening crude prices.
Oil and gas explorer Sterling Resources said today it is no longer looking to sell off its stake in a North Sea field after signing a deal which could be worth around £48million for some of its Romania assets.
OIL supermajor BP will not pursue any legal action against Cameron International over last year's Deepwater Horizon disaster after the firms agreed that the contractor would pay a £161million settlement.
OIL supermajor Shell has been accused of "unbelievable penny-pinching" after nearly 70 repair and maintenance (R&M) posts were cut at the St Fergus gas terminal, near Peterhead.