Companies

Chinese state-owned China National Offshore Oil Corporation (CNOOC) unveiled a home-grown floating production storage and offloading vessel, known as an FPSO, with the deepest working depth, at 420 meters underwater, on Friday. CNOOC said the vessel will help boost oil and gas exploration in the South China Sea. The 256-meter-long …

Italian energy major ENI published on May 13 the company’s sustainability report that describes its commitments in its Long-Term Strategic Plan to 2050, which combines financial, environmental and social sustainability. “The historical moment we are going through poses complex challenges on our path, but we are certain that these difficulties …

The rebalancing of the oil market is underway and will accelerate, the Organization of the Petroleum Exporting Countries (OPEC) said on Wednesday, May 13, days after some of its members voluntarily increased their production cuts. The world oil market was thrown into disarray earlier this year as lockdown measures imposed …

The collaboration aims to deliver 1,000MW of solar projects through a €30m investment.

The recent acquisition of 31.4% of the shares in JSC Dariali Energy will allow TEPCO RP to own 33.9MW of the total capacity.

Saudi Aramco said on Tuesday its planned acquisition of a 70% equity stake in petrochemical maker SABIC from the Public Investment Fund (PIF), the kingdom’s wealth fund, is on track to close in the second quarter. The statement by the state oil giant was made in response to a Reuters …

Saudi Aramco is in early talks about further staggering payments for a controlling stake in local petrochemical giant Saudi Basic Industries Corp. as the collapse in oil prices puts pressure on its finances. State-owned Aramco is weighing pushing out payments for the 70% holding in the petrochemicals maker and reducing …

When Lord Browne ran BP (formerly British Petroleum) from 1995 to 2007, those initials also stood, aspirational, for “Beyond Petroleum”. The company made renewable energy investments that complemented its green and yellow flowery trademark. But Browne’s corporate investments in renewables were early. His successor Tony Hayward abandoned renewables and resumed …

Oil prices will top $30 a barrel this summer as demand will start to recover slowly, Alexander Dyukov, CEO at Russian oil producer Gazprom Neft, told a Russian television channel in an interview. Dyukov said that he hoped oil prices would exceed $30 a barrel in the summer and approach …

Following in the footsteps of U.S. energy giant Exxon Mobil, Italian Eni and French Total are postponing their proposed gas exploration operations in the Eastern Mediterranean for about a year, according to reports Monday. The companies notified the Greek Cypriot administration about their decision to delay their drilling operations until …