Companies

When Lord Browne ran BP (formerly British Petroleum) from 1995 to 2007, those initials also stood, aspirational, for “Beyond Petroleum”. The company made renewable energy investments that complemented its green and yellow flowery trademark. But Browne’s corporate investments in renewables were early. His successor Tony Hayward abandoned renewables and resumed …

Oil prices will top $30 a barrel this summer as demand will start to recover slowly, Alexander Dyukov, CEO at Russian oil producer Gazprom Neft, told a Russian television channel in an interview. Dyukov said that he hoped oil prices would exceed $30 a barrel in the summer and approach …

Following in the footsteps of U.S. energy giant Exxon Mobil, Italian Eni and French Total are postponing their proposed gas exploration operations in the Eastern Mediterranean for about a year, according to reports Monday. The companies notified the Greek Cypriot administration about their decision to delay their drilling operations until …

Total SA unveiled a plan to neutralize its greenhouse gas emissions by 2050 and deepen cost cuts as its first-quarter profit plunged with oil and gas prices. The French major rounds out a weak quarter for the oil supermajors, forcing them to slash spending, curb production and even reduce the …

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 …