Rystad: global recoverable oil reserves held largely steady at around 1,500 billion barrels. The largest downward revisions are seen in Saudi Arabia, where development priorities have shifted from offshore capacity expansions to onshore infill drilling. […]
UK-based energy giant BP expects global demand for liquefied natural gas (LNG) to rise up to 40 percent by 2030 compared to 2022 levels. BP revealed this in its 2024 energy outlook released on Wednesday. […]
BP, Mitsui & Co., Shell, and TotalEnergies each agreed to buy a 10 percent equity stake in Adnoc’s LNG export terminal in UAE’s Al Ruwais. Adnoc will retain a 60 percent majority stake. Adnoc revealed […]
Daily Standup Top Stories BP Shares Plummet on $2 Billion Impairment Warning July 9, 2024 Mariel Alumit Shares in BP fell by as much as four percent this morning after it warned it was expected to […]
Shares in BP fell by as much as four percent this morning after it warned it was expected to post an impairment of up to $2bn (1.6bn) and was operating under “significantly” lower refining margins. […]
bp has joined forces with Masdar, Hassan Allam Utilities and Infinity Power to explore green hydrogen development in Egypt. The newly established consortium has signed a Framework Agreement with the Egyptian Government to evaluate the […]
Global energy consumption and emissions climbed to record highs in 2023. Renewable energy generation grew rapidly, but fossil fuels still account for most energy use. Coal production and consumption were the highest ever, oil consumption […]
BP Plc has scaled back plans for biofuels production at its Cherry Point refinery in the US and its Lingen plant in Germany. The company won’t proceed with plans for stand-alone biofuels production units at […]
Daily Standup Top Stories Rye Development Converting Former Kentucky Coal Mine into 287 MW Pumped Storage Hydropower Facility June 4, 2024 Mariel Alumit Rye Development will receive $81 million in funding from the Department of Energy […]
The slump in oil prices so far this week has dragged down shares in the top UK-based oil and gas supermajors, Shell and BP, with their stock falling on Tuesday and pushing London’s main FTSE […]
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