Qatar Petroleum, one of the world's biggest energy companies, plans a new wave of job cuts and spending reductions to cope with the slump in oil and gas demand which has hit global economies, two sources familiar with the matter said.Economic…
Norway's minority government proposed on Thursday to temporarily change tax rules for oil firms in a bid to prevent a collapse in investments amid the COVID-19 pandemic, Prime Minister Erna Solberg said on Thursday.The plan could boost the liquidity…
Royal Dutch Shell cut its dividend for the first time since World War Two on Thursday as the energy company retrenched in the face of an unprecedented drop in oil demand due to the coronavirus pandemic.Shell also suspended the next tranche of…
Norway, Western Europe's largest oil producer, will slash its output from June to December of 2020, the oil and energy ministry said on Wednesday, the first time in 18 years it has joined other major producers to shore up prices.'We will cut Norwegian production by 250…
CNOOC Ltd on Wednesday lowered its 2020 oil and gas production and capital spending, China's state offshore oil and gas producer said.It cut its capital spending target by 10 billion yuan ($1.41 billion) to a range of 75-85 billion, CNOOC said…
UK oil and gas producer EnQuest is planning workforce reductions in the UK as some of its North Sea fields are expected to cease production, while others will remain shut as part of a recently announced cost-cutting initiative.When it comes to the planned workforce cuts…
Oil and gas firm Neptune Energy has informed that another partner - Eneco - has joined the PosHYdon pilot, the world’s first offshore green hydrogen project, being developed in the Dutch North Sea.PosHYdon integrates three energy systems in the Dutch North Sea: offshore wind…
Offshore wind farm developer Ørsted has said that its offshore wind farm Borssele 1 & 2 in the Dutch North Sea has delivered first power to the Dutch grid. The first wind turbine is now supplying electricity.Borssele 1 & 2 is located 22 kilometers…
Austrian energy group OMV posted a net loss for the first quarter due to significant inventory costs and lowered its production target and crude price forecasts in response to tumbling oil demand in the wake of the coronavirus pandemic.OMV said…
From Kazakhstan and Azerbaijan to Nigeria and Angola, oil majors are haggling with national governments over how to share out deep production cuts that add to their pain from low oil prices and depressed fuel sales because of the coronavirus pandemic…
Norwegian independent oil firm OKEA will ask its bondholders for a waiver of bond covenants and sees a risk of the Yme field development being delayed until 2021, the company said on Tuesday.The firm co-founded by Norway's former oil minister…
BP's first-quarter profits tumbled by two-thirds as the coronavirus crisis hammered oil demand and the energy major's debt rose sharply as it warned of exceptional uncertainty ahead.London-based BP said it expected significantly lower refining…
Brazilian state-run oil firm Petrobras has reversed most of its previously announced production cuts due to higher-than-expected demand for some fuels, it said on Monday, a surprising turnaround that may be tied to an aggressive bet on bunker fuel…
Thirty workers at an offshore oil platform in Equatorial Guinea, operated by ExxonMobil have tested positive for the new coronavirus, two sources close to the ministry told Reuters, one of the largest reported clusters in the sector so far.It…
Nigeria's state oil company has delayed publishing its future oil export plans as it negotiates with local companies and international majors about how to cut output in line with a global deal on production curbs, trading sources said.Official selling prices (OSPs) for Nigerian oil…