BP is expecting the China-focused coronavirus outbreak to reduce global oil demand by up to 500,000 b/d in early 2020 but remains upbeat that improving economic sentiment will support the Continue Reading
Goldman Sachs downgraded ExxonMobil’s shares to Sell from Neutral, following another disappointing quarter. Exxon reported a drop in profits on Friday for the fourth quarter, weighed down by a deterioration Continue Reading
BP said it planned to divest $15 billion of assets by mid-2021, having previously targeted $10 billion in asset sales by the end of 2020. The company has already unloaded Continue Reading
( The world’s largest oil companies invested billions of dollars to boost crude production and their success has turned around and bit them — and their shareholders. Oil majors Exxon Continue Reading
ExxonMobil and Chevron reaffirmed multibillion-dollar capital spending plans for 2020 despite challenging oil and gas prices and a short-term surplus of capacity among refineries and liquefied natural gas plants. The two Continue Reading
ExxonMobil (NYSE: XOM) reported on Friday fourth-quarter earnings down from a year earlier, as lower natural gas prices and weak chemical and refining margins were not enough to offset cash Continue Reading
Chevron Corporation ( NYSE: CVX ) posted a fourth-quarter loss of $6.6 billion versus earnings of $3.7 billion for the same period of 2018, on the back of massive write-offs Continue Reading
The first of Big Oil corporations reported Q4 and full-year 2019 results on Thursday, and the financials Royal Dutch Shell ( NYSE:RDS.A ) released doesn’t bode well for the rest Continue Reading
Shell’s upstream oil production increased by 6% on the year to 1.77 million b/d in the fourth quarter of 2019, contributing to what CEO Ben van Beurden insisted is a Continue Reading
Shell CEO Ben van Beurden said Thursday the company was “not spending enough” on its new energies business, particularly in electricity. Speaking to journalists following the release of Q4 earnings, Continue Reading
