Companies

Chinese state-held oil and gas giant CNOOC said on Monday it had achieved an exploration breakthrough in medium-to-deep Mesozoic plays in the Bohai Bay offshore China. CNOOC, which specializes in offshore exploration and production in China and abroad, was exploring a discovery well in the Longkou 7-1 oilfield in eastern …

British Oil & Gas giant BP Plc has predicted that global oil demand will peak next year while wind and solar capacity will continue to grow rapidly. In its latest edition of its annual Energy Outlook, BP has published a study of the evolution of the global energy system to …

Shares in BP fell by as much as four percent this morning after it warned it was expected to post an impairment of up to $2bn (1.6bn) and was operating under “significantly” lower refining margins. The FTSE 100 oil major, which in April surprised investors with a better-than-expected oil and …

Saudi state oil giant Aramco plans to raise at least $3 billion from a new bond issue that would be its first in three years, sources with knowledge of the matter told Bloomberg on Tuesday. Saudi Aramco plans to offer bonds with 10, 30, and 40 years of maturity and …

Italy’s supermajor Eni has announced a new natural gas discovery in the Gulf of Mexico, in the mid-deep waters off the Mexican coast. The discovery contains an estimated potential reserve of 300 to 400 million barrels of oil equivalent, the company said. The block where Eni was drilling for gas …

International oil and gas majors Shell, BP, and TotalEnergies, as well as Japan’s Mitsui & Co, have agreed to buy 10% each in the new LNG project in the United Arab Emirates, anonymous sources familiar with the plans told Bloomberg on Friday. The international firms will invest in the Ruwais …

Four international companies have agreed to invest in Abu Dhabi National Oil Co.’s next liquefied natural gas export project, according to people with knowledge of the matter. Shell Plc, TotalEnergies SE, BP Plc and Mitsui & Co. will each take a 10% stake in the Ruwais LNG plant, said the …

TotalEnergies is planning to exit its gas-condensate finds off the South African coast, reported Bloomberg, citing sources familiar with the matter. Instead, the French oil and gas major plans to focus on exploration opportunities closer to Namibia. In 2019, TotalEnergies made a discovery at the Brulpadda field, braving one of …

Saudi Aramco is considering a takeover bid for Australian energy major Santos, Bloomberg has reported, citing unnamed sources, who also said the UAE’s Adnoc was also studying an offer for the company. The bids were a demonstration of Middle Eastern energy companies’ interest in expanding their natural gas business internationally, …

Shell will pause on-site construction work at a biofuels plant in Rotterdam amid weak market conditions, the supermajor said on Tuesday, as international oil firms continue to re-evaluate their low-carbon energy projects. Shell’s subsidiary Shell Nederland Raffinaderij will temporarily pause on-site construction work at its 820,000 tons-a-year biofuels facility at …