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BP puts crude oil traders on leave pending investigations into China dealings

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(Reuters) - BP has put four traders responsible for Chinese crude oil sales on temporary leave as it conducts internal investigations into trades with Singapore’s Hontop Energy, four sources familiar with the matter said. They were involved in crude trading...
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Eni to sell assets in Norway, Congo

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(Bloomberg) --Eni SpA is looking to sell assets in Norway and the Republic of Congo as oil’s slump prompts companies across the industry to rein in spending, according to people with knowledge of the matter. In Norway, Eni’s majority-owned Var...
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Oil prices hit levels last seen in March on vaccine hopes, EU deal

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(Reuters) - Oil rose on Tuesday, helped by positive news about vaccine trials and a European Union stimulus deal, which took prices to levels last seen when an oil price war erupted in early March between Russia and Saudi...
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South America’s newest oil producer drops over 50 million barrels of crude

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A ‘detrimental limbo’ of political uncertainty is becoming increasingly costly to new oil producer on the South American continent, Guyana, where project approval delays for a half-billion barrel offshore development has already resulted in more than 50 million barrels...
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Petrobras sells remaining 10% stake in TAG to Engie Brasil, CDPQ

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(Reuters) - Brazil’s state-owned oil company Petrobras on Monday agreed to sell its remaining 10% stake in natural gas pipeline company TAG to Engie Brasil and Canadian investment fund Caisse de Depot et Placement du Quebec (CDPQ). The sale is...
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Halliburton takes a $1.7 billion loss in Q2 2020

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Halliburton Company (NYSE: HAL) announced Monday a net loss of $1.7 billion, or $1.91 per diluted share, for the second quarter of 2020. This compares to a net loss for the first quarter of 2020 of $1.0 billion, or $1.16 per diluted share. The company said adjusted...
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Chevron set to buy out Noble Energy for $5 billion in shares

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Chevron Corporation (NYSE: CVX) announced today that it has entered into a definitive agreement with Noble Energy, Inc. (NASDAQ: NBL) to acquire all of the outstanding shares of Noble Energy in an all-stock transaction valued at $5 billion, or...
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Getting ‘advantaged barrels’ out of the ground early means bigger returns for companies, host countries

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The demand for petroleum is expected to remain robust in coming years but trends that point to an accelerated shift to renewables mean developing oil and gas resources sooner rather than later will ensure the most favourable returns for...
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Suriname deepwater becoming more attractive as Guyana remains stuck in political conflict

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The people of Suriname went to the polls on May 25 and a new President is now in place with a pledge to “reconstruct” the country’s natural resources. No doubt, the newly discovered petroleum resources will be a priority...
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Brazil boosts oil exports to Asia as global rivals make record cuts

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(Reuters) - Brazil increased crude exports to Asia in the first half of the year, stealing a slice of a coveted developing market from global rivals who made record cuts to shipments to match the unprecedented fall in demand...
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Nigeria’s Petroleum Commission confirms ExxonMobil’s US$1.5B investment in the country’s deepwater oil sector

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has confirmed that ExxonMobil will invest $1.5 billion in Nigeria’s deepwater oil...

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