BP reports profit of $5 billion in first-quarter
BP has made a profit of $5 billion in the first quarter of 2023, up from the previous three months on the back of strong...
BP starts oil production at Argos offshore platform
BP announced it started oil production at its Argos offshore platform, strengthening BP’s position as a leading producer in the deepwater US Gulf of...
EIA revises forecasts following OPEC+’s oil production cuts
The U.S. Energy Information Administration (EIA) has revised its forecast for the 2023 Brent crude oil price by 2.5 percent in its April Short-Term...
OPEC+ oil producers reveal oil output cuts of 1.16 mn barrels per day
Saudi Arabia and other OPEC+ oil producers announced further oil output cuts of around 1.16 million barrels per day, Reuters news report said.
The development...
BP-ADNOC JV to buy 50% in Israel’s natural gas producer NewMed for $2 bn
BP and Abu Dhabi’s state oil giant ADNOC have offered to acquire 50 percent of Israel’s offshore natural gas producer NewMed Energy for around $2 billion.
The...
Saudi Aramco boosts China investment with two refinery deals
Saudi Aramco raised its multi-billion dollar investment in China by finalising and upgrading a planned joint venture in northeast China and acquiring an expanded stake...
BP reveals progress on net zero targets
Energy major BP, which is aiming to become net zero across operations, production and sales, by 2050 or sooner, has released its sustainability report...
Shell reveals achievements in its journey to net-zero emissions
Shell has revealed the net carbon intensity of the energy products sold by Shell had fallen by 3.8 percent by the end of 2022,...
Exxon Mobil plans to sell stake in Italy’s main regasification terminal
Exxon Mobil said it is planning to sell its majority stake in Italy’s main regasification terminal as part of a strategy to divest from...
Aramco buys Valvoline lubricant products business for $2.65 bn
Saudi Arabian Oil Company (Aramco) has completed the acquisition of Valvoline lubricant products business for $2.65 billion.
Aramco aims to become one of the world’s...
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