Energy giant Royal Dutch Shell vowed to eliminate net carbon emissions by 2050, raising its ambition from previous targets, as its oil output declines from a 2019 peak.The Anglo-Dutch company is in the midst of its largest overhaul yet as it…
Several U.S. Representatives on Wednesday raised pressure on the State Department to share plans on potential sanctions on the Nord Stream 2 natural gas pipeline Russia is racing to finish to take fuel to Europe.'If completed, Nord Stream 2…
Russian Deputy Prime Minister Alexander Novak said on Friday the government has been working on some support measures for the oil producing industry, including changes in taxation, following last year's decision to hike taxes.The government…
Oil company executives at CERAWeek by IHS Markit were adamant on Monday that crude demand will rise over the coming decade and that the fossil fuel will remain a crucial part of the energy mix even as renewables draw increasing attention.Climate…
UK-focused oil company Tailwind has reached a final investment decision (FID) on its Evelyn field project in the North sea, following approval by the UK oil and gas regulator OGA last week.The Evelyn field is part of the Triton Cluster. Tailwind…
Royal Dutch Shell will narrow its exploration scope in Norway to focus on natural gas production and possibly offshore wind in future, it told the Norwegian oil and energy ministry.Shell said in October it planned to reduce its oil and gas operations…
Norway launched a consultation on Thursday on a 2021 licensing round in mature areas in which it offered 84 new blocks for petroleum exploration, including 70 in the Arctic Barents Sea.The maps attached to a statement by the Petroleum and Energy…
Brazil's state-controlled oil company Petrobras received only one proposal, from Dutch SBM Offshore, in a bid to contract construction of the Mero 4 oil platform [FPSO] in the Santos Basin pre-salt, two sources with knowledge of the matter told Reuters…
Royal Dutch Shell and renewables firm Eneco, owned by Japan's Mitsubishi Corp, will provide Amazon.com Inc's European facilities with electricity from an offshore wind farm, they said on Monday.Retail giant Amazon, which faces pressure from environmental activists over its carbon footprint…
Woodside Energy expects strong buyer interest in the sale of a share of a new production unit at its Pluto LNG plant, top executives said on Thursday, a precondition for a planned $11 billion expansion at its Scarborough gas and Pluto project…
Royal Dutch Shell's profit last year dropped to its lowest in at least two decades as the coronavirus pandemic hit energy demand worldwide though the company's retail network and trading business helped cushion the blow.The Anglo-Dutch oil major's annual profit slumped 71% to $4…
OPEC+ oil producers will discuss a modest easing of oil supply curbs from April given a recovery in prices, OPEC+ sources said, although some suggest holding steady for now given the risk of new setbacks in the battle against the pandemic.The…
Offshore drilling firm Transocean on Friday released its quarterly fleet status report in which it announced several new contracts, a contract termination in Malaysia, and the retirement of the Leiv Eiriksson semi-submersible drilling rig.Some of the contracts have been announced previously…
Italian energy group Eni beat expectations by swinging into a profit in the fourth quarter thanks to firmer oil prices, after posting a loss for the full-year 2020 when demand plunged because of the coronavirus crisis.Eni said it recorded an adjusted net profit in the fourth quarter of 0…
State-owned oil companies could squander about $400 billion on investments in the next decade on new oil projects that will struggle to turn a profit as the world shifts away from fossil fuels, a non-governmental organization said on Tuesday…
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