BP expects to hit cut its debt to $35billion (£25.2bn) nearly a year ahead of schedule thanks to proceeds from a flurry of deals, moving forward its timeline for share buybacks.
Dozens of oil rigs were sold for scrapping in 2020 as the drilling sector dealt with the impacts of Covid-19, according to market-watcher Bassoe Offshore.
The Scottish oil and gas supply chain’s diversification into other markets is “only going to continue” as the energy transition gathers momentum, a business leader has said.
Saudi Arabian Oil Co., the world’s largest crude exporter, is among second-round bidders for a Turkish fuel retailer owned by OMV AG, central Europe’s biggest oil and gas company, according to three people with direct knowledge of the matter.
Bankers Petroleum said it has signed an agreement of a conditional domestic offtake crude oil sales agreement with Ionian Refining and Trading Co.
Noble Energy said it made a smaller than expected quarterly loss as it raised its full-year forecast for total sales volume.
Electric car sales will soar once motorists overcome their misconceptions about the running costs, according to a new study.
Royal Dutch Shell Plc is in talks with potential buyers for some North Sea assets, mostly fields itgot this year as part of the record acquisition of BG Group Plc, according to people familiar with the matter.
China's vice premier Zhang Gaoli has called on his country and Russia to accelerate the construction of the Altai gas pipeline linking the two countries.
Sales from Scotland’s oil and gas supply chain grew by 11% in 2013/14, new figures show. The sector recorded sales of about £7 billion through international subsidiaries, up from £6.3 billion in the previous financial year. Direct exports from Scotland also grew by 13% over the same period, reaching a total of £4.2 billion, according to figures from Scottish Enterprise. Combined international sales for Scottish-based supply-chain companies was up 12% to an estimated £11.2 billion while domestic sales rose from £9.9 billion to £11 billion. David Rennie, Scottish Enterprise’s international sector head for oil and gas, said the survey showed the importance of the industry to the Scottish economy but acknowledged it faces a challenging future.