Companies

Europe’s major energy companies profited from a rise in oil prices to report big increases in first-quarter earnings on Thursday, putting the worst of the pandemic era slump in fuel demand behind them. Last year’s demand collapse forced BP, Royal Dutch Shell and Equinor to slash their dividends and preserve …

UAE oil storage company BPGIC is in advanced talks to buy a green energy firm as it aims to diversify its business and contribute to the global push to fight climate change, an industry source close to the discussions told Reuters. Brooge Petroleum and Gas Investment Co (BPGIC) is in …

Saudi Aramco is conducting a strategic review of its upstream business, in a move that could potentially see the state-owned firm bring in external investors to some of its oil and gas assets. The world’s biggest energy company is in preliminary discussions with advisers to evaluate its options. Aramco may …

Russian gas company Gazprom plans to grow its hydrogen production and use and is considering several areas for utilising hydrogen as an energy source. At the moment, Gazprom produces over 350,000 tonness of hydrogen by various technologies at its facilities, which is then used to derive different products from it. …

Under growing pressure from investors to address climate change, Exxon Mobil on Monday proposed a $100 billion project to capture the carbon emissions of big industrial plants in the Houston area and bury them deep beneath the Gulf of Mexico. Exxon, the largest U.S. oil company, wants to create a …

Norway’s Equinor ASA has decided to stay in the American Petroleum Institute (API) after the major U.S. oil lobby group changed its stance on climate policy. However, Equinor has quit the Australian Petroleum Production and Exploration Association (APPEA) as the firm has wound down operations in Australia after giving up …

Oil major Total has begun producing sustainable aviation fuel (SAF) made from used cooking oil at its La Mède biorefinery in southern France and its Oudalle facility near Le Havre to be delivered to French airports this month. Oil major Total has begun producing sustainable aviation fuel (SAF) at its …

Energy giant Saudi Aramco said it has struck a 12.4-billion-dollar deal to sell a minority stake in a newly formed oil pipeline business to a consortium led by US-based EIG Global Energy Partners. The deal comes as Aramco – the kingdom’s cash cow – seeks to monetise its once-untouchable assets …

The Oil Ministry has said that Iraq has signed a heads-of-agreement deal with France’s Total spanning four projects involving natural gas, solar energy and seawater reprocessing. Iraq’s Oil Minister Ihsan Abul Jabbar said in a ministry statement that Total will make a ‘multibillion-dollar’ investment and the four initial deals will …

Saudi Aramco rose the most in 10 months in Riyadh trading after the government allowed it to cut dividends and redirect the cash into new investments to fulfill the crown prince’s economic plans. It would relieve some of the pressure on the world’s biggest oil company, which had to cut …