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BP agrees to sell global petrochemicals business to INEOS for $5 billion

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(S&P Global) London — BP has agreed to sell its global petrochemicals business to INEOS for $5 billion as part of plans to "reinvent" BP into a more focused, integrated energy company. The sale agreement comprises all of BP's aromatics and...
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Iran says it sold gasoline to Venezuela at current prices

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(S&P Global) Tehran — Iran has exported gasoline to Venezuela under a "commercial deal" and none of the trades was for free, news agency IRNA reported on June 28, citing Iranian Oil Minister Bijan Zanganeh. "We haven't given charity gasoline to...
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Iraq to review some oil contracts at high-cost fields

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(Reuters) - Iraq is reviewing oil contracts with some companies operating fields where costs are high, in order to reduce expenses while cutting production, Al-Sabah newspaper quoted the country’s oil minister as saying. “The ministry has a vision to open...
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US shale oil pioneer Chesapeake files for bankruptcy protection

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(AlJazeera) Chesapeake Energy Corp has filed for Chapter 11 bankruptcy protection, becoming the largest United States oil and gas producer to do so in recent years as it bowed to heavy debts and the impact of the coronavirus outbreak...
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U.S./Canadian oil & gas rig count falls to record low again-Baker Hughes

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(Reuters) - U.S. and Canadian energy firms cut the number of oil and natural gas rigs operating to a record low again this week even as higher oil prices prompt some producers to start drilling again. The U.S. oil and...
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UPDATED: Exxon, Shell and BP among 19 firms shortlisted to market Liza Crude

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Oil majors ExxonMobil, Shell and BP are among 19 companies which have been shortlisted by a five-member Evaluation Committee formed by the Department of Energy in Guyana as part of the process to hire a firm to market the...
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Guyana begins to earn interest on oil revenue

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With close to US$100 million sitting in its Natural Resources Fund (NRF) account at the Federal Reserve Bank of New York, new oil producer Guyana has already began earning interest on some of that revenue even as the global...
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19 companies shortlisted for lifting Guyana’s Liza Crude

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South America’s newest oil producer, Guyana, is one step closer to hiring a firm to market its share of Liza Crude. The Department of Energy (DE) had issued an invitation for Expression of Interest in February 2020 which saw 34...
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Total, partners ramp-up production at Brazil pre-salt with start-up of second FPSO

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Total and its partners have announced the start-up of the Floating Production Storage and Offloading (FPSO) P-70 of the Iara cluster (Block BM-S-11A), located in the deepwater Santos Basin pre-salt offshore Brazil. With a productive capacity of 150,000 barrels...
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Venezuela oil crisis deepens with India refiners halting imports

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India’s largest private refinery halted purchases of Venezuelan oil, putting additional pressure on the Latin American country’s beleaguered oil industry, Bloomberg said in a report on Thursday. Reliance Industries Ltd, which runs the biggest refinery in the world in Jamnagar...
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TT Energy Chamber flags long-term decline despite short-term gains in oil production

The Energy Chamber of Trinidad and Tobago is urging serious reform in the country's energy sector following the release...

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