Global miner BHP Group is considering getting out of oil and gas in a multibillion-dollar exit as it looks to speed up its retreat from fossil fuels, Bloomberg News reported on Tuesday, citing people familiar with the matter.The world's biggest…
Oil Search Managing Director Keiran Wulff has resigned 17 months after taking charge over a long-term medical condition that the Papua New Guinea-focused company said had recently deteriorated.The board had been in discussions with Wulff over complaints about his behavior…
Malaysia has appointed Mohd Bakke Salleh as the chairman of state energy firm Petroliam Nasional Berhad (Petronas), the prime minister's office said on Monday.The change comes as Petronas is recovering from a demand slump caused by the COVID-19 pandemic…
Royal Dutch Shell on Wednesday said it would boost its returns to shareholders via share buybacks or dividends after a sharp rise in oil and gas prices helped it reduce debt.It will increase its distribution to shareholders to 20% to 30% of cash flow from operations beginning in the second quarter…
Oil and gas companies Jadestone Energy and OMV New Zealand have given themselves more time to complete the transaction related to the Maari offshore field in New Zealand.Singapore-based Jadestone in November 2019 agreed to buy OMV's 69% operated interest in the Maari Project for $50 million…
U.S. oil major Chevron Corp has no plans to shrink its oil and gas business for wind and solar energy unlike some rivals, Chief Financial Officer Pierre Breber said on Thursday, amid pressure from shareholders to lower carbon emissions.Major…
Malaysian oil and gas service provider Serba Dinamik Holdings Bhd must appoint an independent reviewer to address issues raised by the company's external auditor, the national stock exchange said on Wednesday.In May, Serba said auditor KPMG…
A Malaysian manager of Norway's largest oil services provider Aker Solutions was charged on Friday over allegations he submitted false documents in dealings with state-owned energy firm Petronas , according to a court charge-sheet.Ahmad Hatta Kamaruzzaman…
David Dickson, CEO of offshore installation and construction firm McDermott has decided to resign, the company said Monday. Dickson was CEO of the company since December 2013.Lee McIntire, an independent director on the McDermott Board of Directors…
KrisEnergy, an oil and gas company focused on Southeast Asia, said Friday it had filed a winding-up petition and that it would proceed to liquidation due to its inability to pay debts.KrisEnergy warned about this outcome back on March 31 when it said that the production from the Apsara field…
Rating agency Moody's said on Friday that the credit risk of major oil producers has increased with recent events including Royal Dutch Shell losing a Dutch climate lawsuit this week and Exxon losing a battle with shareholders.Chevron also lost…
A tiny hedge fund dealt a major blow to Exxon Mobil Corp on Wednesday, unseating at least two board members in a bid to force the company's leadership to reckon with the risk of failing to adjust its business strategy to match global efforts to combat climate change…
Abu Dhabi National Oil Co (ADNOC) has invited investment banks to pitch for bookrunner roles for the initial public offering of its drilling unit, two sources told Reuters on Sunday.The oil giant invited a handful of international and local…
Exxon Mobil Corp expects up to $200 million in charges this year related to job cuts in an era of cost savings, according to a regulatory filing.The biggest U.S. oil producer has slashed costs, delayed projects and said it could trim an estimated 14…
Offshore drilling contractor Valaris, which had filed for bankruptcy in August 2020, said Monday it had on April 30, 2021, successfully completed its financial restructuring and emerged from chapter 11.The Valaris Group's Plan of Reorganization…
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