Page 8 - Oil Companies

Exxon scales back shale ambitions to focus on low costs, saving dividend

The top U.S. oil producer incurred a historic loss of US$22.4 billion last year and is trying to convince a skeptical Wall Street that it can rebound

OIL to up stake in Numaligarh Refinery via debt, internal accruals

Firm is eyeing the role of a vertically integrated oil company with stake hike

India to spend Rs 7.5 trillion on oil and gas infra in next 5 yrs: PM Modi

Noting that India imports over 85% and 53% of its oil and gas requirements, respectively, the PM says the country is working to meet growing energy demand and prune imports

Covid-19 crisis: BP reports first loss in a decade after 'brutal' year

For the last quarter of 2020, BP reported a profit of $115 million, falling short of analysts' forecasts due to weak oil and gas sales and subdued trading, it said on Tuesday

Exxon posts first annual loss as a public company on Covid-19 impact

The company reported a net annual loss of $22.4 billion for 2020, on the write down and losses in oil production and refining, compared with a full-year profit of $14.34 billion in 2019

Petrol stable after breaching Rs 86 a litre in Delhi, diesel crosses Rs 76

Rates differ from state to state, depending on value-added tax. Petrol and diesel prices are revised on a daily basis

With fourth hike in a week, petrol, diesel prices touch all-time highs

Petrol and diesel prices were hiked by 25 paise per litre each, according to a price notification from oil marketing companies

Vaccine roll-out points to more certain recovery in 2021, says IOC chairman

The crude prices are rising, but refining margins are influenced by product cracks

After telecom companies, Chinese oil majors may face US delisting

China's largest offshore oil producer CNOOC could be most at risk as it's on the Pentagon's list of companies it says are owned or controlled by Chinese military

BPCL to consider buying 36.62% Oman firm stake in Bharat Oman Refineries

Proposes to merger Bharat Gas Resources with itself

How oil majors shift billions in profits to island tax havens

If the oil-and-gas major had booked the profits through its headquarters in the Netherlands, it could have faced a tax bill of about $700 million based on the Dutch corporate tax rate of 25%

Trump to sell Arctic oil rights in early Jan, days before Biden sworn in

Biden has vowed to permanently protect the refuge, but formal leases are contracts with the federal government and are difficult to cancel

State-run oil firms spend 40% of capital expenditure target by October

Fail to meet govt directive to spend 50%, but experts say trend encouraging

Trump admin pushes to sell Alaska oil leases before Biden can block it

The administration's announcement establishes a tight timeline for lease sales, with the earliest they could occur being on or about Jan. 17

IOC net profit jumps more than 15 times in Q2 over inventory, forex gains

GRM at $8.62 a barrel during the quarter versus $1.28 a year ago. However, total income drops 13%

US elections 2020: Joe Biden seeks to clarify remark on ending oil

US President Donald Trump has seized on a TV debate remark by his White House rival Joe Biden about shutting down the oil industry, as the Democrat scrambled to clear up the confusion

Hydrogen CNG, bio gas and methanol the new faces of automotive fuel

These newer energy sources aren't only diversifying the automotive fuel basket for India but can help in reducing emission to an extent

State-run oil and gas firms set to invest Rs 1.62 trillion this year

At present, the sector is seeing work on 8,363 projects with an anticipated cost of Rs 5.88 trillion.

Aramco sets up corporate development organisation to optimise portfolio

The organisation will be led by Senior Vice President Abdulaziz M. Al-Gudaimi and will start operations on September 13

Saudi Aramco's profit falls 73%; sticks with dividend despite debt surge

The results cap a turbulent period for the world's biggest oil exporter. Prices briefly turned negative in the US in April as the virus battered the global economy and Aramco slashed hundreds of jobs