Oil Crash Forces BP To Slash 10,000 Jobs
Supermajor BP will cut 10,000 jobs, or around 15 percent of its workforce, as it looks to cut costs amid the oil price crash resulting from the coronavirus pandemic, chief Continue Reading
Will Exxon’s Next Mega Project Get The Go Ahead?
Exxon will likely make the final investment decision for its Mozambique LNG project next year, Reuters reports , citing the country’s National Petroleum Institute. The supermajor postponed the FID on Continue Reading
Big Oil could end up even bigger by the end of the coronavirus pandemic
The nation’s biggest oil and gas companies could end up even bigger by the end of the coronavirus pandemic. Analysts expect a coming wave of bankruptcies should the price of oil Continue Reading
Shell weighs sale of $2 billion-plus stake in Queensland LNG facilities
Royal Dutch Shell ( RDSa.L ) is considering raising more than $2 billion from the sale of a stake in the common facilities at its Queensland Curtis LNG plant in Continue Reading
Oil Majors Face Another Impossible Decision
The oil industry only has two choices as it reshapes itself after the oil price crash — either become broader energy firms or pursue a narrower specialization in oil and Continue Reading
Only One Oil Major Is Betting Big On Renewable Energy
Investments in solar and wind energy projects by the world’s oil majors over the next five years are expected to reach $17.5 billion, a Rystad Energy analysis finds. But a Continue Reading
Occidental Petroleum (OXY) Slashes Dividend by 91% to One Cent
Occidental Petroleum Corp. cut its quarterly dividend by 91% to the lowest since at least the 1970s amid the pandemic-driven collapse in energy demand that has strained the oil explorer’s Continue Reading
Coronavirus Outbreaks Threaten Oil Majors’ Biggest Projects
Oil companies including Chevron Corp., Exxon Mobil Corp., Royal Dutch Shell PLC and Total SA are scrambling to cope with coronavirus outbreaks among their workers that could threaten the profitability Continue Reading
Chevron Plans Massive Workforce Reduction
Chevron Corp has plans to cut between 10 percent and 15 percent of its workforce as crude oil prices remain stubbornly low amid the coronavirus pandemic and oversupply. With oil Continue Reading
COVID Crisis Could Unify World’s Largest Oil Companies
Sir Winston Churchill once admonished leaders to never let a good crisis go to waste. Wall Street banks and other large banks have been paying attention: They were shrewd enough Continue Reading