The bp board announced that bp will exit its shareholding in Rosneft. bp has held a 19.75% shareholding in Rosneft since 2013.  Additionally, bp chief executive officer Bernard Looney is resigning from the board of Rosneft with immediate effect. The other Rosneft director nominated by bp, former bp group chief executive Bob Dudley, is similarly […]

The Board of Shell plchas announced its intention to exit its joint ventures with Gazprom and related entities, including its 27.5 percent stake in the Sakhalin-II liquefied natural gas facility, its 50 percent stake in the Salym Petroleum Development and the Gydan energy venture. Shell also intends to end its involvement in the Nord Stream […]

Equinoron behalf of its partners has extended drilling contracts worth NOK 8 billion with Archer, KCA Deutag and Odfjell Drilling. The contracts include drilling, completion, intervention services, plugging, maintenance and modifications on 19 of Equinor’s permanent installations, maintaining strong ripple effects. The four-year agreements were signed in 2018. Exercised for two years from the end […]

The pipe, which runs between two platforms named Conwy and Douglas, was shut off following the leak on Monday and remains closed and about 500 barrels of oil has reportedly leaked from a pipe off the north Wales coast. BBC reported. Operator ENI UK said details of what happened about 20 miles (33km) north of […]

ExxonMobil today said it started production at Guyana’s second offshore oil development on the Stabroek Block, Liza Phase 2. The will bring the total oil production capacity to more than 340,000 barrels per day in only seven years since the country’s first discovery.  Production at the Liza Unity floating, production, storage and offloading (FPSO) vessel is […]

Exxon Mobil Corporation today announced fourth-quarter 2021 earnings of $8.9 billion, or $2.08 per share assuming dilution, resulting in full-year earnings of $23 billion, or $5.39 per share assuming dilution. Capital and exploration expenditures were $5.8 billion in the fourth quarter and $16.6 billion for the full year 2021, in line with guidance. Generates $48 […]

Equinor reports record high adjusted earnings of USD 15.0 billion and USD 4.40 billion after tax in the fourth quarter of 2021. IFRS net operating income was USD 13.6 billion and the IFRS net income was USD 3.37 billion. 2021 was characterised by: Adjusted earnings after tax of USD 10.0 billion for the full year […]

In 2021 LUKOIL Group’s hydrocarbon production excluding the West Qurna-2 project was 2,161 thousand boe per day, which is 4.7% higher year-on-year, while in the fourth quarter of 2021 hydrocarbon production increased by 7.6% quarter-on-quarter. The production growth was attributable to the dynamics of the external limitations on oil production due to the OPEC+ agreement, […]

BP has announced its fourth quarter and full year 2021 results. Reported profit for the quarter was $2.3 billion, compared with a loss of $2.5 billion for the third quarter 2021. Underlying replacement cost profit for the quarter was $4.1 billion, compared with $3.3 billion for the previous quarter. Net debt reduced for seventh quarter […]

ConocoPhillips has reported fourth-quarter 2021 earnings of $2.6 billion, or $1.98 per share, compared with a fourth-quarter 2020 loss of $0.8 billion, or ($0.72) per share. Excluding special items, fourth-quarter 2021 adjusted earnings were $3.0 billion, or $2.27 per share, compared with a fourth-quarter 2020 adjusted loss of $0.2 billion, or ($0.19) per share. Special […]