Chinese oil and gas major CNOOC has sounded out potential buyers of its interests in U.S. oilfields, two sources said, stepping up its retreat from Western nations amid sanctions concerns and calls for domestic investment. Reuters reported in April that CNOOC was considering an exit from its operations in Britain, Canada, and the United States, because of concerns in Beijing that those assets could become subject to Western sanctions…
The UK Government has announced it will support a new oil and gas licensing round in the North Sea that is expected to be launched in October. It has also lifted a moratorium on shale gas production in England. In a statement, the government said…
British Prime Minister Liz Truss' plans to spur new North Sea oil and gas production and lift a ban on fracking will test investor appetite for new fossil fuel projects, but are unlikely to ease the current energy crunch.Truss, who took office on Tuesday…
QatarEnergy on Tuesday signed a deal with Exxon Mobil Corp for the Gulf state's North Field East expansion, the world's largest liquefied natural gas (LNG) project, following agreements with TotalEnergies, Eni and ConocoPhillips.Qatar is partnering…
ExxonMobil's global oil and gas reserves tumbled by a third last year as the COVID-19 pandemic slammed global oil prices and demand, the company said on Wednesday.The largest U.S. oil producer is reeling from the sharp decline in oil demand…
Top U.S. oil producer ExxonMobil on Tuesday posted its first annual loss as a public company as the COVID-19 pandemic hammered energy prices and it reduced the value of its shale gas properties by more than $20 billion in the fourth quarter…
ExxonMobil Corp said on Thursday it could cut its global workforce by about 15%, including deep white-collar staff reductions in the United States, as the COVID-19 pandemic batters energy demand and prices.Exxon and other oil producers have…
After years of focusing on U.S. shale, Chevron Corp is staking its natural gas future on the Middle East, a volatile and divided region where energy majors have long tread warily.CEO Michael Wirth's pivot away from home is underpinned by a bet…
The global economy will not achieve a V-shaped recovery after the coronavirus epidemic, which will curtail oil and gas demand for years, Royal Dutch Shell's chief executive said.Ben van Beurden told an online interview with IHS Markit Chairman…
Final Investment Decisions (FIDs) planned across the oil and gas value chain in 2020 are set to focus on natural gas developments, according to GlobalData, a data and analytics company.According to the report, the upstream and midstream project…
For the first time, China will this year allow foreign companies to explore for and produce oil and gas in the country, opening up the industry to firms other than state-run energy giants, as Beijing looks to boost domestic energy supplies.The…
BP will take charges of $2 to $3 billion in the third quarter, the British energy firm said on Friday, as it looks to reach divestments worth $10 billion by the end of 2019, a year ahead of schedule.In a statement, London-based BP said it expects…
China's national offshore producer CNOOC Ltd reported a near 19% rise in first-half profit on Thursday, as higher sales of oil and gas offset weaker global oil prices.The listed arm of state-owned China National Offshore Oil Corp said that it…
The consortium exploring the Kekra-1 well off the coast of Pakistan is ending drilling operations after no reserves of oil and gas were found, a spokesman for Oil and Gas Development Co Ltd, one of the Pakistani partners, said.'The oil exploration well will be plugged and abandoned…
Algeria's state energy company Sonatrach wants to develop its partnerships with foreign firms to boost output and exports, its new chief executive said on Wednesday, comments that could reassure investors a week after his appointment.Algeria…
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