Royal Dutch Shell (RDA) Cuts Dividend as Pandemic Hammers Oil
Royal Dutch Shell Plc cut its dividend for the first time since at least the Second World War as the oil slump triggered by the coronavirus pandemic reshapes the energy Continue Reading
Shell Cuts Dividend for First Time Since World War II
Royal Dutch Shell PLC cut its dividend for the first time since World War II after first-quarter profit fell by nearly half as the coronavirus pandemic hit. Energy demand and Continue Reading
Shell sees sharp second quarter oil, gas production fall over COVID-19 shut-ins
Highlights Non-LNG upstream output could fall to 1.75 mil boe/d Cuts first quarter dividend, suspends share buybacks Reports 48% slide in adjusted Q1 earnings London — Shell said Thursday that Continue Reading
BP hikes debt, keeps dividend as coronavirus hammers profits
BP’s ( BP.L ) first-quarter profit tumbled by two thirds and its debt climbed to its highest in at least five years as the coronavirus crisis hammered oil demand, but Continue Reading
Big Oil’s Dilemma: Cut Dividends Or Cut Operations
The oil majors are facing a financial vice like they never have before. With oil prices hovering around $20 per barrel and no end in sight for the global pandemic, Continue Reading
Big Oil faces new reality where ‘everything has changed’
Gordon Ballard, head of the International Association of Oil & Gas Producers, has seen many downturns in his 38-year career. But they were all followed by recoveries. This time, he Continue Reading
In Rare Development, Oil Majors Are Forced To Cut Output Under OPEC Deal
A British Petroleum-led project in Azerbaijan will have to cut production in May for the first time as Azerbaijan will need to take drastic measures to meet its new quota Continue Reading
Shell Postpones Investment On Two Major Oil Projects
As oil prices collapse, Shell is postponing the final investment decisions (FIDs) for two planned projects, one in the U.S. Gulf of Mexico and another in the UK North Sea, Continue Reading
Royal Dutch Shell Sets Border Carbon CO2 Emissions Goal
Royal Dutch Shell Plc plans to eliminate all net emissions from its own operations and the bulk of greenhouse gases from fuel it sells to customers by 2050. The energy giant Continue Reading
Exxon slashes capex by $10bn
ExxonMobil is slashing this year’s capital spending plans by $1obn and will cut cash operating expenses by 15 per cent as it seeks to preserve its dividend in the face of Continue Reading