BP has Reported loss of $20.4 billion, underlying replacement cost profit of $6.2 billion Highlights Reported loss for the quarter was $20.4 billion, compared with a profit of $2.3 billion for the fourth quarter 2021. The reported result includes adjusting items* before tax of $30.8 billion. Adjusting items include pre-tax charges of $24.0 billion and […]

Eni’s Board of Directors, chaired by Lucia Calvosa,  has approved the unaudited consolidated results for the first quarter of 2022. Highlights Group’s results of operations in Q1 ‘22 In Q1 ’22, the Group reported an adjusted EBIT of €5.19 billion, up by 300% from Q1 ’21. This performance was driven by the robust results of […]

Exxon Mobil Corporation today announced estimated first-quarter 2022 earnings of $5.5 billion, or $1.28 per share assuming dilution. First-quarter results included an unfavorable identified item of $3.4 billion associated with our planned exit from Russia Sakhalin-1, or $0.79 per share assuming dilution. First-quarter capital and exploration expenditures were $4.9 billion.  The Earned $5.5 billion in […]

The North Sea Transition Authority (NSTA) has fined Shell UK Limited £50,000 and served it with a Sanction Notice for breaching five field production consents. Effective management of production consents is an indicator of good stewardship of fields, and is an important component of a stable, well-regulated industry which has the trust and confidence of […]

The Board of Directors of Seplat Energy Plc a Nigeria indigenous exploration and production company had  announced the appointment of Mrs. Bashirat Odunewu as an Independent Non-Executive Director of the Company, Mr. Kazeem Raimi as a Non-Executive Director and Mr. Ernest Ebi as a Non-Executive Director. The three appointees will be joining the Seplat Board with […]

Russian energy giant Lukoil, has announced the resignation of the Company’s President and member of the Board of Directors VagitAlekperov. VagitAlekperov has resigned as CEO and as a member of the board of directors. VagitAlekperov was a former Soviet deputy oil minister and a supporter of close ties between Russia and OPEC and his resignation […]

Eni has announced the appointment of Jon Rigby as the new Head of the company’s Investor Relations and Strategic Analysis. Jon Rigby has extensive professional experience in capital markets and the energy sector built over many years handling research and transactions.  Previously, He was a Managing Director at UBS where he led European oil and […]

Shell plc has published its 2021 Sustainability Report, its 2022 Industry Associations Climate Review Update and its 2021 Payments to Governments Report. Shell has been formally reporting on sustainability-related performance for 25 years, with the aim of being transparent about activities that are important to investors, governments, and civil society. The 2021 Shell Sustainability Report […]

African Development Bank Group President Dr. Akinwumi A. Adesina has pledged his institution’s support for South Africa, announcing a $2.8 billion package for the country over the next five years. Some $400 million (ZAR 6 billion) will support South Africa’s Eskom and the country’s energy transition. Adesina was speaking at the opening of the South […]

FAR Limited, an independent, Africa focused, oil and gas exploration company, advises that Catherine Norman has been given notice of termination from her role as Managing Director, effective immediately and has resigned as a director of the Company. Independent Chairman Patrick O’Connor will oversee the business during a period of transition. With more than three […]