Companies

Saudi Aramco has raised the official selling price of all the grades it exports to Asia, with flagship Arab Light for delivery in June set to become $0.90 more expensive, Bloomberg reported citing a pricing list it had seen. The move pushed international oil prices higher, Reuters reported earlier today, …

Tech giant Microsoft has signed a global framework agreement to back renewable power projects that could be worth about $10 billion and buy the power that would be developed by Brookfield Asset Management, the Financial Times reported on Wednesday. The agreement is for bringing around 10.5 gigawatts (GW) of solar …

PetroChina reported on Monday its highest net profit for a first quarter as its revenues rose by 11% thanks to steady oil prices and higher domestic natural gas demand and production. The Chinese state-held oil and gas giant booked $6.3 billion (45.681 billion Chinese yuan) in net profit for the …

Saudi Aramco is currently eyeing potential investments in new energies outside Saudi Arabia, the state oil giant’s chief executive officer Amin Nasser said on Monday. Aramco’s top executive was speaking on the sidelines of the Special Meeting on Global Collaboration, Growth, and Energy for Development by the World Economic Forum …

Saudi oil giant Aramco is proceeding with plans to boost its downstream presence in its most important export market, China, with discussions to buy a minority stake in a Chinese petrochemical company. Aramco has entered into discussions with Hengli Group Co., Ltd. regarding the potential acquisition of a 10% stake …

Russia’s natural gas giant Gazprom had to shut down more than two dozen producing wells during the spring floods in the Orenburg region to keep the gas-producing wells from flooding, the local Gazprom unit said. River and floodwaters rose early this month in the Orenburg region in southwestern Russia near …

BP has cut over a tenth of its workforce in its EV charging business, BP Pulse, as the supermajor is downsizing the division and retreating from several countries to focus on just four key markets, Reuters reported on Monday, quoting sources at the company. BP has cut more than 100 …

Shell’s chief executive has floated the possibility of the petrogiant abandoning its “undervalued” London listing. Wael Sawan, who runs the largest company on the FTSE 100, said the embattled London exchange was an “undervalued location” as he joined a raft of global CEOs in complaining about the capital’s equity markets. …

While other international majors are closing down refineries or converting them to biofuel production, ExxonMobil is expanding its UK site and will start delivering diesel from the expanded Fawley refinery in early 2025. ExxonMobil is investing $1 billion (£800 million) in the main construction phase of a new low-sulfur diesel …

TotalEnergies has agreed to acquire the 20% interest held by Lewis Energy Group in the Dorado leases operated by EOG Resources (80%) in the Eagle Ford shale gas play, increasing its natural gas production capacity in Texas and further strengthening its business integration in the U.S. LNG value chain. TotalEnergies …