Which Oil Major Is The Most Resilient?
Wood Mac analysts looked into supermajors’ costs, balance sheets, and portfolios, to rank them based on what the consultancy calls cash margin. On this basis, Chevron topped the ranking with Continue Reading
Is BP Finally Moving Beyond Petroleum?
Kneeling in prayer for a sin he doesn’t regret, Shakespeare’s Claudius, Hamlet’s fratricidal uncle, ruefully admits: “My words fly up, my thoughts remain below, / Words without thoughts never to Continue Reading
Why The $17.5 Billion Write-Down Is Just The Beginning For BP
BP, the British oil company, announced this week it would reduce the value of its oil and gas assets by $17.5 billion. Even though this represents a large potential asset Continue Reading
BP: Global Energy Demand Growth Already Slowed Before The Pandemic
Global growth in primary energy consumption slowed down to 1.3 percent last year from 2.8 percent demand growth in 2018, with renewables a major growth driver in 2019, BP said Continue Reading
The Most Vulnerable Of The Oil Majors
U.S. oil and gas supermajors have come under plenty of flak during the ongoing oil price rout, with some blaming them for the oil price collapse for stubbornly refusing to Continue Reading
BP Writes Off Billions as Covid Redraws Rules of Oil Demand
BP Plc will make the biggest writedown on the value of its business since the Deepwater Horizon disaster a decade ago, as the coronavirus pandemic hurts long-term oil demand and Continue Reading
BP Takes $17.5 Billion Write-Down, Expects Oil Price to Stay Low
BP PLC is writing down as much as $17.5 billion of its assets and might leave some of its oil and gas in the ground because of lower energy prices Continue Reading
BP Takes $17.5 Billion Write-Down, Expects Oil Price to Stay Low
BP PLC is writing down up to $17.5 billion of its assets and might leave some of its oil and gas in the ground because of lower energy prices and Continue Reading
Exxon Slows Gulf Refinery Expansion
Exxon Mobil Corp. will delay the startup of its Beaumont refinery expansion on the Texas Gulf Coast by a year as the oil giant weathers low demand for petroleum products Continue Reading
Exxon Prepares To Unload North Sea Assets
ExxonMobil is considering moving forward with its sale of some North Sea assets after months of delays, industry and banking sources told Reuters on Thursday. The sale, with the potential Continue Reading