Equinor follows BP in exiting ‘untenable’ Russia joint ventures
Norwegian oil giant Equinor has followed BP in announcing that it will start exiting its joint venture businesses in Russia.
Rosneft
Updated: BP faces ‘eye-watering’ $25 billion hit over exit from Russia oil firm Rosneft
BP is facing a financial hit of up to $25 billion over its exit from Russia state-owned oil firm Rosneft.
BP boss summoned by UK business secretary over Rosneft ties
BP is under pressure from the Government to cut its ties with Russian oil giant Rosneft, which the British-based company holds a 20% stake in.
Ukraine crisis unlikely to have a ‘material impact’ on BP or TotalEnergies
Researchers don’t expect the ongoing conflict between Russia and Ukraine to dent the flow of cash to BP (LON: BP) or TotalEnergies (PAR: TTE).
BP and other North Sea players keeping tabs on UK sanctions against Russia
BP, Wintershall DEA and IOG are among the North Sea firms which are monitoring UK Government sanctions against Russia, and could be impacted as tensions escalate.
BP’s Russia risk rises again as Ukraine crisis simmers
Of all the international oil majors, BP potentially has the most to lose if the situation in Ukraine triggers a crisis between Russia and the West.
BP and Rosneft only oil explorers to deliver 1billion+ barrels in 2021
BP and Rosneft were the only companies to deliver more than a billion net barrels of oil equivalent through exploration last year, according to new research.
Rosneft sees oil edging to $120 as OPEC+ supply hike lags demand
Global oil prices may rise to as high as $120 by the middle of next year as the ability of OPEC+ to meet demand is at risk from under-investments and sanctions, according to a Rosneft PJSC executive.
ExxonMobil and Rosneft team up on carbon management
ExxonMobil (NYSE:XOM) and Rosneft (MCX:ROSN) have signed a memorandum of understanding to cooperate on the assessment of lower-carbon technologies to reduce greenhouse gas emissions from their operations.
Equinor and Rosneft partner up to develop low carbon solutions
Norwegian energy giant Equinor has partnered up with Moscow-headquartered Rosneft to develop low carbon solutions.
Beijing interferes with Natuna drilling offshore Indonesia in South China Sea
A Chinese ship has been meddling with Harbour Energy’s ongoing drilling campaign at its Tuna block in the Natuna Sea offshore Indonesia. Significantly, the appraisal drilling is funded by Russia’s state-backed Zarubezhneft and the incident underscores the fact that Moscow’s energy interests in the South China Sea are increasingly being threatened by China.
Zarubezhneft to create new ‘gas cluster’ in Southeast Asia after asset deals
Russian state oil and gas producer Zarubezhneft aims to create a new gas cluster with assets in Vietnam and Indonesia following recent deals involving Premier Oil and Rosneft.
BP targeting low carbon solutions with new strategic collaboration agreement
BP has signed a strategic collaboration agreement with Rosneft Oil Company focused on supporting carbon management and sustainability activities.
BP CEO Looney: ‘We’re not yet green, but we’re greening’
BP chief executive Bernard Looney said today that he would “emphatically” put value over volume when making low-carbon acquisitions.
Beijing will keep harassing oil and gas activities in South China Sea
Beijing is expected to keep harassing oil and gas operations in disputed areas of the South China Sea this year, particularly offshore Malaysia.
Severstal balances domestic demand with international option
Russia will remain the heart of Severstal’s focus for the near term, but uncertainty around the timing of a contract with Gazprom has encouraged international growth.
Assessing energy merger and acquisition opportunities in a time of pandemic
Mergers and acquisitions have been slowed by the COVID-19 outbreak. But as companies embrace the energy transition opportunities will arise
Petronas to stoke Chinese fury as Transocean drills in South China Sea
Analysts are expecting a backlash from Beijing as Malaysian national oil company (NOC) Petronas prepares to drill in gas-rich Block SK 316 in the South China Sea off the eastern Malaysian state of Sarawak.
Beijing rattles oil companies in South China Sea off Vietnam
Beijing has increased pressure on Hanoi thereby derailing yet another upstream project in the South China Sea.
Oil will be ‘engine of value creation’ in BP’s net-zero drive, Looney says
BP’s chief executive Bernard Looney has said oil and gas would be a “smaller, but core part” of the business as it “pivots” to net zero.
Eni strikes one of the biggest gas finds in Southeast Asia for 20 years
Eni has confirmed the presence of a giant gas and condensate field in Block 114 in the Song Hong Basin off Vietnam.
Politics muddy Indonesia’s $48 billion refinery expansion plan after Aramco walks
Saudi Aramco’s experience may offer a cautionary tale to other investors considering multi-billion-dollar refining partnerships with Indonesian NOC Pertamina
NOCs to slash over a quarter of exploration budgets on average in 2020
National oil companies (NOCs) globally are estimated to cut exploration budgets by over a quarter on average in 2020, says Wood Mackenzie.
Zohr production drops in Q1
Egypt’s Zohr field produced 5.1 billion cubic metres of gas in the first quarter, according to Russia’s Rosneft.
Russia has edge over Saudi Arabia in crunch oil production talks
Russia will be able to outlast Saudi Arabia if the pair fail to clinch a deal to cut production to prop up oil prices during OPEC+ talks on April 9.