Exxon Mobil Corp has signaled first-quarter results across its three major businesses, with an at least $2 billion improvement from prices for oil and gas driving profits.
Oil prices on Wednesday rose, paring overnight losses a day ahead of a meeting of OPEC and its allies, with investors betting the producers will largely agree to extend their supply curbs into May.
Saudi Arabia is prepared to support extending oil cuts by OPEC and allies into May and June and is also ready to extend its own voluntary cuts to boost oil prices amid a new wave of coronavirus lockdowns, the Reuters news agency reported on Monday, citing a source briefed on the matter..
French energy company Total said it had postponed the restart of work at a liquified natural gas (LNG) project in Mozambique following an attack on a nearby town this week.
Abu Dhabi National Oil Company (ADNOC) has deepened crude oil supply cuts to Asian customers in June to 10-15% from 5-15% in May, one week ahead of an OPEC+ meeting.
Norwegian energy major Equinor in a market update on Wednesday predicted a 2% growth in Europe’s demand for natural gas this year after contracting by around 4% in 2020.
OPEC+ is unlikely to pump more oil than the market can handle, says the United Arab Emirates’ energy minister Suhail Mohamed Al Mazrouei.
BP Plc said on Monday that its greenhouse gas emissions dropped 10% to around 374 million tonnes of carbon dioxide equivalent in 2020 from its oil fields to its clients’ car exhausts.
Oil giant Saudi Aramco is betting on an Asian-led rebound in energy demand this year after it reported a steep slide in net profit for 2020 on Sunday and cut down its spending plans.
A coalition of attorneys general from 21 states sued President Joe Biden over his decision to revoke a key permit for the Keystone XL pipeline.