International

OPEC+ Agrees to Extend Output Cuts as Cheats Offer Penance

OPEC+ agreed to a one-month extension of its record output cuts and adopted more stringent methods to ensure members don’t break their production pledges.

Apergy and ChampionX complete merger to create the new ChampionX

ChampionX Corporation, formerly known as Apergy Corporation announced the completion of the merger of the businesses of Apergy Corporation and ChampionX Holding Inc., the former upstream energy business of Ecolab Inc. In association with this transaction, Apergy Corporation has changed its name to ChampionX Corporation, and beginning tomorrow its shares of common stock will trade on the New York Stock Exchange under the symbol “CHX”.

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.