Companies

BP Plc said the relentless growth of oil demand is over, becoming the first supermajor to call the end of an era many thought would last another decade or more. Oil consumption may never return to levels seen before the coronavirus crisis took hold, BP said in a report on …

Poland’s oil and energy giant PKN Orlen says it is aiming at carbon emission neutrality by the year 2050. Central and Eastern Europe’s leader in the energy sector, Orlen said this week it will invest heavily in developing cleaner production methods and greater efficiency, as well as in wind and …

Gazprom supplied 2.3 bln cubic meters of gas to China via the Power of Siberia gas pipeline in January-August period of 2020, Director General of Gazprom Transgaz Tomsk Vladislav Borodin told a corporate magazine. “Gazprom Transgaz Tomsk transported over 15 bln cubic meters of gas in eight months of this …

Technology giant Apple plans to invest in the construction of two 200m-tall wind turbines in Denmark, some of the world’s largest onshore turbines. The turbines will be located near the Danish town of Esbjerg, and could produce 62GWh of clean energy per year. This would power 20,000 homes. The turbines …

The world’s largest oilfield services provider, Schlumberger, is selling its North American fracking business to Liberty Oilfield Services for a minority stake in a new combined company after the oil price crash crushed the U.S. shale patch’s fracking activity. Schlumberger has agreed to combine its onshore hydraulic fracturing business in …

State oil company Saudi Aramco has discovered two new oil and gas fields in the northern regions, the kingdom’s energy minister said Aug. 30, state news agency SPA reported. The energy minister Prince Abdulaziz bin Salman Al-Saud said the new Abraq al-Toloul oil field, which lies to the south east …

Brazil’s Petrobras has initiated the sale process for a group of 26 onshore and shallow-water oil fields and a small nearby refinery in the northeastern part of the country, as the state-run company forges ahead with its ambitious divestment program. In a securities filing, Petroleo Brasileiro SA, as the firm …

Saudi Arabia Oil Co.’s senior management reshuffle is more than just a game of high-level musical chairs at any old energy company. The oil giant faces an uphill battle to meet promises made before its record-setting initial public offering last year — and before the coronavirus pandemic hit — to …

Saudi Arabia’s state oil company has suspended a deal to build a $10 billion refining and petrochemicals complex in China, according to people familiar with the matter, as the company slashes spending to cope with low oil prices. Saudi Arabian Oil Co., or Aramco, decided to stop investing in the …

Iraq plans to sign a memorandum of understanding with Chevron Corp. to explore for oil in the country’s southern province of Dhi Qar, according to a person familiar with the matter. The deal formalizes Chevron’s interest in exploring the eastern and western parts of Nasiriyah, the capital of Dhi Qar, …