BP has made significant cuts to its oil exploration team, reduced to less than 100 people compared to a peak of over 700 before Bernard Looney's tenure, according to a news report.
BP is relaunching the sale of its interests in a number of North Sea oil fields, according to Reuters, after the collapse of its deal with Premier Oil last year.
BP will make 7,500 of its planned global job cuts compulsory after roughly 2,500 workers applied for voluntary redundancy, according to a news report.
Premier Oil is seeking another price cut for the North Sea assets it is buying from BP, according to a news report.
SVPs for strategy of Edison International & NRG Energy join Reuters Events ‘Reshaping Energy’ webinar
Reuters Events - today announced the second episode in a new three-part broadcast on Energy Transition. The future energy system will mark a radical overhaul of the energy business ecosystem, with traditional industry diving lines set to be blurred. Speed and timing will be crucial for those looking to stay on the right side of the transition.
Reuters Events will be hosting a free online webinar series focused on commodity trading and commodity value chains.
For the previous few centuries, humans have been burning through fossil fuel reserves with somewhat reckless abandon. Yet in the 2020s, and based on extensive peer-reviewed research, we make five big and bold predictions linked to the future of energy systems and the social infrastructures that need them. The full report call be accessed via Reuters Events Energy Transition News and Content Hub, via the Energy Transition Report & Whitepapers section.
In the age of the Great Energy Transition, oil and gas companies face a dual challenge; to reduce operational emissions whilst keeping up with growing energy demand they will need to increase both asset performance and lifetime. With increasing numbers of incumbent O&G players making net-zero commitments, the sector will increasingly be judged both by their cost per barrel / cubic feet AND their carbon footprint per barrel.
French oil major Total is planning to cut its investment programme by around 20% and freeze recruitment in response to the oil price crunch, according to a news report.
DecomWorld – part of Reuters Events - today announced a new research session into decommissioning cost reduction, which will tackle issues of price efficacy, benchmarking and the environmental impact of such approaches.
US oil inventories are at record levels, but there are a few glimmers of hope that the glut could be starting to subside.