International

Shell Gives Hope for Dividend Boost Once Oil Rout Is Over

Royal Dutch Shell Plc said it will be well placed to boost shareholder payouts once the oil market recovers, as it sought to appease investors after last month’s surprise dividend cut.

Saudis add 1 MMbbl to output cut to help stabilize oil prices

Saudi Arabia announced an extra voluntary oil-production cut of 1 million barrels a day, bringing output to its lowest in 18 years as the kingdom tries to prop up a nascent recovery in energy markets.

BP Midstream expects lower Q2 pipeline flows on coronavirus impact

BP Midstream reported first-quarter pipeline flow rates similar to the fourth quarter of 2019, but withdrew previous guidance and will no longer provide full-year guidance on pipeline flows due to extreme market uncertainties arising from the coronavirus pandemic, CEO Rip Zinsmeister said Friday.

Aramco Close to Inking $10 Billion Deal With Group of About 10 Banks

Saudi Aramco is about to finalise a $10 billion loan with a group of roughly 10 banks, three sources familiar with the matter said, as the oil giant seeks cash amid record low oil prices.

Halliburton Lays Off 1,000 Employees

Halliburton reduced the number of staff at its headquarters by 22 percent or about 1,000 people as persistently low oil prices continued to bite, killing business for oilfield services providers.

Mideast Petro-States Look Past Oil’s Crash to Chase Solar Power

Some of the Middle East’s biggest oil producers are pushing into solar energy even amid the rout in crude prices.

OTC announces 2020 Spotlight on New Technology Awards recipients

HOUSTON -The Offshore Technology Conference the 2020 recipients of the Spotlight on New Technology® Award. Eighteen technologies from 14 companies from around the world will be awarded this year, including six companies that will be recognized for the Spotlight on Small Business Award.

Saudi Arabia’s Sabic Suspends All But Essential Spending

Saudi Basic Industries Corp. is suspending new capital expenditure after an oil-price slump and coronavirus-related lockdowns pushed the company into a 950 million-riyals loss ($253 million) in the first quarter.