Companies

The Gazprom Neft ’s “Green Seismic” and “Green Seismic 2.0” projects won the “Science for Ecology” nomination, awarded the Vernadsky National Ecological Prize. The purpose of the ecological prize is to recognise and popularise completed projects in environmental protection. This technology is widely used throughout the company in investigating heavily …

BP plunged to a $5.7 billion annual loss in 2020, its first in a decade, as the pandemic took a heavy toll on oil demand, with fuel consumption continuing to slide so far this year amid global travel restrictions. For the final quarter of 2020, BP reported a profit of …

Despite the devastating downturn of 2020, most global majors held up quite well during the market turmoil, a Rystad Energy comparative analysis reveals after measuring key upstream performance metrics. Total outshined all other peers, as the French company not only exceled in financial and operational performance, but also was the …

Brazil’s state-led oil company Petrobras discovered hydrocarbons in the C-M-411 block located in the offshore Campos Basin, the company said Jan. 29. “The data from the well will be analyzed to better guide exploratory activities in the area and the potential of the discovery,” Petrobras said. The discovery was made …

U.S. oil major Chevron Corp. on Jan. 29 swung to an $11 million fourth-quarter loss and missed Wall Street expectations as low margins on fuel, acquisition costs and foreign currency effects overwhelmed improved drilling results. Oil companies are expected to benefit from a bounce-back in oil and gas prices after …

Responses to the coronavirus disease (COVID-19) caused global demand for petroleum products to fall significantly in 2020. The U.S. Energy Information Administration (EIA) estimates that the world consumed 92.2 million barrels per day (b/d) of petroleum and other liquid fuels in 2020, a 9% decline from the previous year and …

Brookfield Asset Management Inc. and KKR & Co. are among top infrastructure investors weighing bids for a stake in Saudi Aramco’s oil pipelines, people familiar with the matter said. Apollo Global Management Inc. has also been studying whether to make an offer, the people said, asking not to be identified …

ADNOC, the Abu Dhabi state oil company, Adu Dhabi Investment Holding, and Mubadala Investment Co., two state investment funds, have teamed up in an Abu Dhabi Hydrogen Alliance to develop hydrogen production and export capabilities, joining a growing number of businesses betting on hydrogen, Argus reports citing Emirati media. Bloomberg …

Total will not renew its membership in the American Petroleum Institute (API) for 2021 due to divergences with the main U.S. oil lobby over climate policies, the French oil and gas supermajor said on Friday. For 2019 and 2020, Total found API’s positions “partially aligned” to its own, but some …

The US government on Thursday ramped up sanctions and restrictions on Chinese firms over Beijing’s actions in the disputed South China Sea, and the security threat posed by technology. In a wide ranging series of steps unveiled in the waning days of President Donald Trump’s administration, Washington targeted state oil …