Companies

The impact of the move, announced at a time when oil prices are languishing at around $25 per barrel, on Rosneft’s upstream joint ventures with Venezuelan state oil company Petroleos de Venezuela was not immediately clear. The U.S. government has ramped up pressure on Venezuelan President Nicolas Maduro’s government, including …

ConocoPhillips went from a profit in the 1st quarter last year to a loss in the same period of 2020 after being hit by impairment charges and lower oil and gas prices. The company reported a 1st-quarter 2020 loss of $1.7 billion compared with 1st-quarter 2019 earnings of $1.8 billion. …

Neptune Energy announced two important hydrocarbon discoveries have been made in northwestern Germany.

Russia’s No.2 oil producer Lukoil is running into difficulties staffing its assets in Iraq due to the new coronavirus and associated restrictions, chief executive Vagit Alekperov, was cited on Saturday by Interfax news as saying. Lukoil manages the West Qurna 2 oilfield, 65 km (40 miles) north-west of Basra. It …

Smart software charges the lithium-ion batteries when the energy price is low and discharges them when the price rises.

The largest oil producer in North Dakota has halted most of its production in the US state and notified some customers it would not supply crude after prices dived into negative territory this week, sources said. Continental Resources Inc, the company controlled by billionaire Harold Hamm, stopped all drilling and …

Multinational oil and gas corporation ExxonMobil yes¬terday broke ground on its solely funded chemical com¬plex in Huizhou, in southern China’s Guangdong Province, a sign of China’s rebounding economy as the impact of the COVID-19 pandemic fades. A special “cloud ceremony” was held online with video connections linking the Hui¬zhou Dayawan …

Japan-based JXTG Nippon Oil & Energy Corporation will conduct the feasibility study of a new ethylidene norbornene (ENB) plant, to be built in Jubail, as part of the Amiral petrochemical complex, announced by Saudi Aramco and Total on Oct. 8, 2018. The new ENB plant project would make the Kingdom …

Chevron will be forced to effectively wind down its operations in Venezuela, dealing the Maduro regime’s crumbling oil industry another blow as U.S. President Donald Trump maneuvers for regime change in the Latin American nation. The U.S. Treasury Department will no longer allow the company to drill wells, sell and …

OPEC countries reached a landmark deal to diminish oil output starting from May 1, 2020. On April 12, members of OPEC and their allies, including Russia, announced that they had agreed to cut production by 9.7 million barrels a day in May and June 2020. After that, the group will …