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…
KrisEnergy, a Southeast Asia-focused oil company, has started proceedings against FPSO owner Rubicon at the High Court of Justice Business and Property Courts of England and Wales.The oil company is reacting to a claim recently made by Rubicon demanding a $2…
French energy major Total said on Sunday that 14 workers including two of its staff have tested positive for the new coronavirus at its sites in Congo Republic, but output at the 190,000 barrels per day operations have not been affected.Congo…
Angola sees an oil production curb by OPEC, its allies and other top producers as insufficient to balance global markets, state news agency ANGOP quoted resources and petroleum minister Diamantino Azevedo as saying on Friday.'It is up to everyone to understand that…
i3 Energy, a London-listed company focused on developing the Liberator field in the UK North Sea, has started talks with noteholders to seek waiver on previously agreed terms.In a statement on Friday, the company reminded that on 8 November 2019…
Norwegian independent oil company Aker BP said on Friday it expected to report a pre-tax loss due to impairments worth $500 million-$700 million related to the oil price crash.North Sea oil prices hit more than 20-year lows this week as demand…
Oil shipments from nascent crude producer Guyana's prolific Liza field could be affected by a growing storage glut that has contributed to plunging global crude prices, the country's director of energy said.A consortium led by Exxon Mobil began…
Italian energy group Eni lowered its forecast for production and investments on Friday as the coronavirus crisis has driven down oil and gas demand and hammered crude prices.In a statement on first-quarter results, it said it would spend about…
Azerbaijan's BP-led Azeri-Chirag-Guneshli (ACG) project will have to cut output sharply from May for the first time ever as the country moves to meet its commitment under a global deal to cut production, three sources told Reuters on Thursday…
UK North Sea oil and gas company Serica Energy expects to see first gas from its Columbus development in late 2021, a six-month delay to what was previously targeted.The Columbus field plan, approved in 2018, envisions the reservoir will be…
Australia's Santos Ltd posted a 13% drop in first-quarter revenue on Thursday due to lower realized prices for oil and gas, but said it had sufficient liquidity and debt headroom to weather the recent crude price crash.The country's second-largest…
Chevron Corp has been banned from drilling or transporting oil in Venezuela and its assets there are 'mothballed' as the Trump administration cracks down on money going to the government of socialist President Nicolas Maduro, a senior U.S. official said on Wednesday…
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