Companies

Goldman Sachs said on Sunday that the deal between major oil producers to cut output by nearly 10 million barrels per day is ‘historic yet insufficient,’ adding that no deal would be enough to offset the sharp drop in demand already occurring. The investment bank still expects oil prices to …

Gazprom is ramping up production and pipeline transmission from its Eastern Gas program. Commercial A+B+C1+C2 gas reserves within Gazprom’s licensed areas in Eastern Siberia and the Far East exceed 5 trillion cu m (tcm). Gazprom is ramping up production and pipeline transmission from its Eastern Gas program. Commercial A+B+C1+C2 gas …

The energy firm will provide healthcare staff with €50m gasoline vouchers.

Saudi Arabia’s sovereign wealth fund has built up stakes in European oil firms, including about $200 million in Equinor ASA, as the kingdom navigates the coronavirus pandemic and plummeting crude prices. The Public Investment Fund amassed shares in Norway’s largest producer mostly through the open market last week, according to …

SSEN has identified five areas on the west coast that will benefit from smarter grid solutions.

It will provide six months of free energy to hospitals in Italy that wish to expand to fight Covid-19.

The gas giant Gazprom is no longer in the spotlight after the US Treasury sanctioned Rosneft, the Russian national oil company, most probably triggering the collapse of the OPEC+ agreement and bringing about an unexpectedly low pricing environment for March 2020 within both the oil and gas segments. Having launched …

Traders and refiners expect Saudi Aramco to cut pricing for its flagship crude to the lowest in at least two decades, escalating a price war with rival suppliers even as the coronavirus throttles global demand. The world’s biggest oil exporter is expected to slash its official pricing for May sales …

A company owned by the Russian government has acquired Rosneft’s assets in Venezuela, the cabinet’s press office told TASS on Saturday. “The government of the Russian Federation has acquired assets in Venezuela from Rosneft. A company 100% owned by the Russian Federation has become the owner,” the press service said. …

British oil major Shell joined other companies in the sector in lowering capital expenditure for the current year by about $5 billion and suspended the next tranche of its share buyback plan to weather a hit from the recent oil price crash. The company said it would reduce 2020 cash …