Companies

Shell Offshore, a subsidiary of Shell, has commenced production at Dover, a subsea tieback project linked to the Appomattox production hub in the Gulf of Mexico. The Dover development is expected to reach peak production of 20,000 barrels of oil equivalent per day (boepd), strengthening Shell’s leadership in deep-water operations. …

BP expects to post a weak natural gas trading result for the first quarter, as well as lower gas output, as the UK-based supermajor is resetting its strategy back to core oil and gas operations. Reported upstream production in the first quarter is expected to be lower compared to the …

Equinor advised analysts on Wednesday to expect weak liquids and LNG trading results for the first quarter of the year, as its Marketing, Midstream & Processing (MMP) division is also set to incur a hit of about $100 million of costs of drilling of carbon capture and storage (CCS) appraisal …

ExxonMobil expects its first-quarter earnings to be higher than in Q4 by up to $2 billion, thanks to higher oil and gas prices and rising refining margins. Exxon’s earnings in the upstream segment could be up to $900 million higher in the first quarter compared to the fourth quarter of …

BP said on Thursday that its Cypre development offshore Trinidad and Tobago delivered first gas, as yet another project started up since the supermajor reset its strategy to shift focus back to oil and gas. Cypre is one of BP’s 10 major projects expected to start up worldwide between 2025 …

Island Drilling has been awarded a three-year contract for well plugging on Equinor-operated fields on the Norwegian continental shelf (NCS) using the Island Innovator semi-submersible rig. In addition, the oil service companies Archer Oiltools and Baker Hughes Norge have won framework agreements for plugging services. Island Innovator is a mobile …

U.S. supermajor Chevron has expressed interest in oil and gas exploration in two additional offshore blocks south of the Greek island of Crete, Greece’s Ministry of Energy and Environment said on Wednesday. Earlier this year, Greece said that Chevron had expressed interest in exploring the area southwest of the Peloponnese …

Shell is holding its Capital Markets Day on Tuesday in New York—and analysts expect Chief Executive Officer Wael Sawan to reaffirm the UK-based supermajor’s new focus on oil and gas. Shell was one of the first European majors to pivot back to oil and gas in a 2023 strategy to …

BP and Apollo have announced that they have reached agreements for Apollo-managed funds to purchase a 25% non-controlling stake in BP Pipelines (TANAP) Ltd – BP TANAP – the BP subsidiary that holds BP’s 12% interest in TANAP, owner and operator of the pipeline that carries natural gas from Azerbaijan …

China’s state oil major Sinopec reported a net profit of almost $7 billion for 2024, which represented a 16.8% decline on the year, attributed to lower oil prices and electric cars. “In 2024, international crude oil prices fluctuated downward, the domestic transportation industry accelerated the replacement of new energy … …