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BP to fund new emissions reductions projects

BP to fund new emissions reductions projects

March 26, 2019 No Comments

BP today announced that it has established a $100 million fund for projects that will deliver new greenhouse gas (GHG) emissions reductions in its Upstream oil and gas operations. The new Upstream Carbon Fund will provide significant further support to BP’s work generating sustainable greenhouse gas emissions reductions in its operations. In April 2018, BP […]

Gas production starts at Trinidad and Tobago’s Angelin project

Gas production starts at Trinidad and Tobago’s Angelin project

February 26, 2019 No Comments

BP Trinidad and Tobago (BPTT) today announced first gas production from its Angelin development. The project was delivered on time and under budget. The Angelin development, originally discovered by the El Diablo well in 1995, includes a new platform and four wells. It is located 60 kilometres off the south-east coast of Trinidad in a […]

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BP Reports profit for full year 2018 of $12.7 billion

BP Reports profit for full year 2018 of $12.7 billion

February 5, 2019 No Comments

The fourth quarter result was $3.5 billion More than double full-year earnings, near double returns Underlying replacement cost profit for full year 2018 was $12.7 billion, more than double that reported for 2017. The fourth quarter result was $3.5 billion, driven by the strong operating performance across all business segments. Return on average capital employed […]

ExxonMobil Announce Earnings of $20.8 Billion in 2018

ExxonMobil Announce Earnings of $20.8 Billion in 2018

February 1, 2019 No Comments

Exxon Mobil Corporation today announced estimated 2018 earnings of $20.8 billion, or $4.88 per share assuming dilution, compared with $19.7 billion a year earlier. Excluding U.S. tax reform and asset impairments, earnings were $21 billion, compared with $15.3 billion in 2017. Cash flow from operations and asset sales was $40.1 billion, including proceeds associated with […]

ExxonMobil to Restructure Upstream Organization

ExxonMobil to Restructure Upstream Organization

February 1, 2019 No Comments

Exxon Mobil Corporation (NYSE:XOM) said it will streamline its upstream organization and centralize project delivery across the company to support previously announced plans to double operating cash flow and earnings by 2025. “We’re simplifying and integrating our upstream organization to better capitalize on the industry-leading portfolio we’ve assembled through acquisitions and exploration success in the […]

BP invests in new AI technology

BP invests in new AI technology

January 28, 2019 No Comments

BP Ventures has invested $5 million in Belmont Technology’s Series A financing to further bolster BP’s artificial intelligence (AI) and digital capabilities in its Upstream business. The investment supports BP’s ongoing work exploring opportunities to apply machine learning and cognitive computing in its global oil and gas business. The Houston technology start-up has developed a […]

Saudi Aramco signs $27.5 billion Deals with suppliers

Saudi Aramco signs $27.5 billion Deals with suppliers

November 27, 2018 No Comments

Saudi Aramco hosted its 4th IKTVA Forum & Exhibition this week at the Dhahran Expo Center in Dammam, attracting more than 1,000 local and international energy-sector service and equipment suppliers, manufacturers and small and medium enterprises to explore available investment opportunities with Saudi Aramco in the upstream, chemicals, utilities, non-metallic, IT and cybersecurity, and other […]

Eni and Sonatrach sign agreements in the renewable energy sector

Eni and Sonatrach sign agreements in the renewable energy sector

November 26, 2018 No Comments

The Chairman and General Director of the Algerian state company Sonatrach, Abdelmoumen Ould Kaddour, and the Chief Executive Officer (CEO) of Eni, Claudio Descalzi, inaugurated a 10 MW solar plant today in Bir Rebaa North (BRN) in Algeria. The plant, co-operated by Eni and Sonatrach through the GSA (Groupement Sonatrach-Agip), will provide green energy to […]

Saudi Aramco breaks ground for new Upstream R&D Center in Russia

Saudi Aramco breaks ground for new Upstream R&D Center in Russia

November 9, 2018 No Comments

Strategic collaboration between Saudi Arabia and Russia continues to progress with Saudi Aramco President and CEO Amin H. Nasser attending the groundbreaking ceremony of a new Saudi Aramco Research Center at the MSU Science Park. The Center is Saudi Aramco’s ninth R&D facility outside the Kingdom and will focus on upstream technologies in simulation and […]

Shell agrees to sell Upstream Interests in Denmark to Noreco

Shell agrees to sell Upstream Interests in Denmark to Noreco

October 25, 2018 No Comments

Royal Dutch Shell plc (Shell), through its affiliate Shell Overseas Holdings Limited, has reached an agreement with publicly listed Norwegian Energy Company ASA (Noreco), to sell its shares in Shell Olie-og Gasudvinding Danmark B.V. (SOGU) for a consideration amount of $1.9 billion. SOGU is a wholly-owned Shell subsidiary that holds a 36.8% non-operating interest in […]

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