International

Eni launches a new business structure to be a leader in the energy transition

The two business groups will maintain close links in the hydrocarbon value chain, with the objective of best managing the different phases of the energy transition and jointly developing decarbonization processes to supply bio, blue and green products.

BP Discusses Sale of More Than $1 Billion Stake in Giant Oman Gas Project

BP Plc is in early-stage discussions to sell about a 10% stake in a key gas field in Oman as part of the energy giant’s plans to cut debt, according to people familiar with the matter.

Russia Declares Emergency After Arctic Oil Spill

The leak of more than 20,000 tons of diesel in Siberia, said to be one of the country’s worst such accidents, turned a river crimson and was heading for the ocean.

Chevron could be forced to pay $100m for failure to capture carbon emissions

The Western Australian government rules against the oil and gas company over emissions at the Gorgon LNG project

Middle Eastern Petro-States’ Reliance on China Surges With Covid

China is an ever-more important customer for Middle Eastern oil producers as they scramble to find buyers in the wake of the coronavirus.

Brent Oil Rises Past $40 as OPEC+ Cut Extension Looks Likely

Brent oil rose above $40 a barrel for the first time in almost three months on signs that OPEC+ producers are close to agreeing on a short extension of their historic deal to cut output.

Google Says No More AI or Machine Learning for Upstream Industry

Google said it will continue to work on existing projects with oil and gas companies which will also still be able to use the company’s cloud platform to run IT functions or to store data. Last year’s financial filings show that Google took in about $65 million from oil and gas companies which equates to less than 1% of its overall cloud business.

Korean Shipyards Draw $20 Billion of Work From Qatar

Qatar has signed a deal worth around $20 billion with South Korean shipbuilders to help cement its position as the world’s largest producer of liquefied natural gas.