Companies

Shell said on Thursday that it had booked a loss of $18.1 billion for the second quarter of 2020 compared to a profit of $3 billion in the same period last year. Shell explained that this included an impairment charge of $16.8 billion post-tax, $22.3 billion pre-tax, as a result …

According to Azernews, ver $106 billion were invested in Azerbaijan’s oil sector in the period between 1995 and 2019, Energy Minister Parviz Shahbazov has said. During the period, out of $140 billion of foreign investments in Azerbaijan, $85 billion were attracted to the oil sector, Shahbazov said addressing the seminar …

Germany-based energy company Uniper and General Electric have signed an agreement aiming at a long-term collaboration on the decarbonization of Uniper’s gas-fired power plants and natural gas storage facilities. GE’s Gas Power business and Uniper will explore, assess, and develop technology options for decarbonization — GE’s first fleet-wide decarbonization program …

India’s oil-to-telecoms conglomerate Reliance Industries surpassed on Friday Exxon as the world’s second most valuable firm doing business in energy after Saudi Arabia’s oil giant Aramco. Reliance Industries is the most valuable company in India and has diversified operations, including oil refining. Its market capitalization hit US$189 billion (14.1 trillion …

Way back in January (it’s been a long year) Hallburton was already souring on shale. Way before the novel coronavirus put the final nail in the coffin of the West Texas shale revolution, the multinational corporation and one of the largest oil field service companies in the world had very …

In the first big deal since oil prices crashed four months ago, Chevron agreed to buy Noble Energy for roughly $US5 billion ($7 billion) in what many experts consider the beginning of a sweeping consolidation in the US oil industry. The coronavirus pandemic caused a sharp decline in oil demand, …

China’s CNOOC Limited has started production from the Luda 21-2/16-3 regional development in the Bohai Sea. The Luda 21-2/16-3 regional development project is located in Liaodong Bay of Bohai Sea, about 39 kilometres north of Luda 10-1 oilfield and 90 kilometres northwest of the Suizhong 36-1 onshore terminal. The average …

Halliburton is one of the world’s largest oil field service companies with operations in more than 70 countries. It helps energy companies to maximize value throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing …

Royal Dutch Shell Plc, the world’s biggest liquefied natural gas merchant, is making a bet on the trade’s digital future by taking a minority investment in the online platform developer GLX Digital. GLX is among a handful of companies using web-based trading to modernize the world of physical commodities and …

French oil giant Total SA has sent a drilling rig to South Africa in the hopes of duplicating its massive find there last February, Total’s partner in the project Africa Energy Corp said in a press release on Thursday. According to Africa Energy Corp, the Odfjell Deepsea Stavanger sem-submersible rig …