State-owned oil companies could squander about $400 billion on investments in the next decade on new oil projects that will struggle to turn a profit as the world shifts away from fossil fuels, a non-governmental organization said on Tuesday…
Japanese trading house Sumitomo Corp will stop investing in new oil development projects as it shifts away from fossil fuels businesses amid a global push to cut greenhouse gas emissions, the Nikkei business daily reported on Sunday.The move…
Squire Patton Boggs continued the expansion of its commodities and shipping capabilities with the addition of partner Kate Sherrard into its Financial Services Practice. She joins the firm from Clifford Chance where she was Head of the Asia…
Cairn Energy said on Wednesday it had won an international arbitration case against the Indian government over a tax dispute that had spooked investors concerned about retrospective tax claims on companies.The tribunal ruled unanimously that India had breached its obligations to Cairn under the U…
Malaysian state-owned energy giant Petronas warned on Friday that the remainder of the year would remain tough due to prolonged low oil prices and moderate demand recovery hampered by the coronavirus, as it recorded a third-quarter loss.'Amid…
Australian oil and gas company Santos has executed documentation to enter into a new US$750 million syndicated bank loan, to refinance existing debt facility established for the acquisition of ConocoPhillips’ northern Australian and Timor-Leste assets…
Total trimmed its 2020 investment target on Friday after a sharp drop in third-quarter net profit, though the French oil and gas producer maintained its dividend.The company cut its investment target to $13 billion from $14 billion and said it was keeping a lid on operating costs too…
Chevron on Friday reported an adjusted third-quarter profit as oil prices recovered from spring lows and spending cuts benefited operating results.Chevron and its peers have slashed spending budgets this year on plummeting demand and crude oil…
U.S. oil and gas producer Hess Corp reported a bigger-than-expected quarterly loss on Wednesday and slightly lowered its full year production forecast, as its operations were hit by hurricanes in the Gulf of Mexico and lower production in South East Asia…
BP swung back to a small profit in the third quarter but warned the pace of recovery from the pandemic remains uncertain and continued to weigh on fuel demand and refining profits.The London-based company said that while fuel demand in Asia…
Southeast Asia-focused oil company KrisEnergy has reached a loan deal with Kepinvest Singapore, that should help the company bring online its Apsara offshore project in Cambodia's Block A on time, and remove the risk of losing the license.Namely…
Asia Pacific-focused oil and gas production company Jadestone Energy declared a maiden interim dividend on Thursday and reported positive operating cash flows in the first half, despite a slump in crude oil prices.The maiden dividend payout…
Australia's Santos Ltd reported an 18% drop in second-quarter revenue on Thursday due to lower realised prices for its oil and gas, but said production from its core assets was expected to remain steady in the near term.The country's second…
Australia-listed Oil Search Ltd on Tuesday reported a near 30% drop in second-quarter revenue, hurt by a sharp decline in oil and gas prices as demand plunged due to the coronavirus pandemic.The Papua New Guinea-focused oil and gas explorer recorded a revenue of $266…
Norwegian oil services firm Aker Solutions said on Wednesday the outlook has improved for the second half of the year with oil prices partly recovered from the lows in April and Norway offering tax incentives for the oil industry.Its full-year 2020 revenue…
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