Companies

State oil giant PetroChina plans to shut its largest Chinese refinery in 2025 after years of considering moving the processing to a smaller site, anonymous sources told Reuters on Monday. PetroChina has been thinking for years to shut its Dalian Petrochemical plant in downtown Dalian, north China. The 410,000-barrels per …

In February 2020, then-brand-new chief executive Bernard Looney told the world that one of the oldest and biggest oil companies in the world was going to become a net-zero company by 2050. To achieve this, it would slash its oil and gas production by 40% by 2030. Four years and …

Saudi Aramco’s chief executive Amin Nasser has called for what he dubbed a reset in the transition plans for developing countries, citing strong projected growth in oil demand for the Global South. Developing economies are growing and living standards are rising, Nasser said today at the Singapore International Energy Week, …

BP is considering a potential sale of a minority stake in its offshore wind business in a move to reduce spending on project developments in the sector, anonymous sources have told Reuters. Currently, BP doesn’t operate offshore wind farms, but it had a pipeline of offshore wind developments worth 9.6 …

TotalEnergies will do extensive turnaround work at its largest integrated refinery complex in Europe in the second half of 2025, sources familiar with the plans told Bloomberg on Friday. TotalEnergies’s Antwerp refining and petrochemicals platform is the French supermajor’s largest integrated complex in Europe. Located in Antwerp, Belgium, right in …

Recently, a delegation from the Russian oil corporation Lukoil visited Baghdad to meet with Iraqi Prime Minister Mohammed Shia Al-Sudani to discuss matters about the company’s activities in the country. Lukoil gave a thorough update on their current activities in Iraq’s West Qurna 2 and Eridu oil fields, emphasizing the …

Germany’s car manufacturing giant BMW is warning that an EU ban on the sale of gasoline and diesel cars from 2035 is “no longer realistic” amid slow EV sales as the European auto industry will see a “massive shrinking” with such a ban. European carmakers are already struggling with their …

China National Offshore Oil Corporation (CNOOC) has revealed a record cumulative production of 9 billion m3 of natural gas and more than 900 000 m3 of crude oil from the Deep Sea #1 field. Production from the field is set to rise further as CNOOC, China’s third-largest national oil company, …

A consortium led by U.S. supermajor ExxonMobil has successfully completed the first exploration phase southwest of the Greek island of Crete and has decided to proceed with the second exploration stage, Greece’s state firm Hellenic Hydrocarbons and Energy Resources Management Company (HEREMA) said on Thursday. Exxon and Helleniq Energy are …

Chevron has shut in its Blind Faith platform in the U.S. Gulf of Mexico and evacuated all personnel from the facility in preparation for Hurricane Milton, the supermajor said on Monday. “Production from our other Chevron-operated Gulf of Mexico assets remains at normal levels,” Chevron said in a media update …