BP Reports $17.7 Billion Loss, Cuts Dividend
The British energy giant aims to increase its low carbon investments to $5 billion a year by 2030, from around $500 million, at the same time as seeing its oil Continue Reading
BP’s oil, gas output to fall 40% by 2030 amid transition to carbon energy company
BP expects its oil and gas production to fall by at least 1 million b/d of oil equivalent or 40% over the next decade, as it transitions to a lower-carbon Continue Reading
Oil Price Crash Led To Exxon’s Worst Loss In Its Modern History
Following the oil price and demand crash, ExxonMobil ( NYSE: XOM ) reported on Friday its second consecutive quarterly loss, which was the worst loss for the U.S. supermajor in Continue Reading
Big Oil gets smaller as Chevron and Exxon losses mount to $9.4bn
ExxonMobil and Chevron both reported deep quarterly losses on Friday, as two of the US’s corporate titans revealed the trauma caused to their businesses by the worst oil price crash Continue Reading
Chevron posts $8.3 billion loss on writedowns, job cuts
Chevron Corp on Friday reported an $8.3 billion quarterly loss, its largest in at least three decades, and joined rival oil producers in writing down billions of dollars in assets Continue Reading
Trading Profits Save Oil Majors In Very Volatile Second Quarter
In a big day for earnings releases, European majors Shell and Total reported on Thursday surprise profits for the second quarter, thanks to strong oil trading business when prices were Continue Reading
Oil Majors Report Dismal Second Quarter Earnings
On Thursday, some quarterly figures from the oil majors started coming in – and they are mostly negative. Royal Dutch Shell reported a staggering $18 billion quarterly loss, made worse Continue Reading
Exxon’s Mad Dash To Save Its Dividend
Exxon is planning to cut jobs and spending, in a hail mary to preserve its dividend, according to anonymous Reuters sources. Exxon spokesman Casey Norton, however, has denied that the Continue Reading
Exxon prepares spending, job cuts in last ditch move to save dividend
Exxon Mobil Corp ( XOM.N ) is preparing deep spending and job cuts, according to people familiar with the matter, as it fights to preserve a 8% shareholder dividend with Continue Reading
Shell Swings to Historic Loss as Pandemic Devastates Oil Demand
An abundance of fossil fuels combined with advances in technology has sent energy prices crashing around the world. Royal Dutch Shell PLC swung to a heavy loss in the second Continue Reading