OGA: ‘Oil and gas operators must move faster towards net zero or risk losing social licence’

The new strategy sets out priorities to support the oil and gas industry in reducing greenhouse gas emissions, developing carbon capture and storage and implementing hydrogen projects

Chevron cuts capital spending by $4bn in response to coronavirus crisis

US oil giant said it would “continue to execute” plans to reduce operating costs by more than $1bn by the end of the year

Indonesia considers cutting fuel prices amid COVID-19 pandemic

The president has asked all cabinet ministers to assess the impact of the pandemic on domestic economy

Canadian oil industry to lose more than $2bn

The Canadian oil industry could lose more than $2.1 billion (£1.3bn) this year. That’s according to a new report by research institute, the Conference Board of Canada. The fall could happen due to a “sharp and prolonged weakness in prices”. Last year the industry made a profit of $6 billion (£3.91bn), however now, prices are expected […]

Cairn confident of $5.4bn India sale

Cairn Energy expressed confidence that the sale of a 40% stake in their Indian arm, Cairn India, to Vedanta Resources would be completed. Cairn’s half yearly report revealed the deal, split into two stages, would bring in $5.4billion. Simon Thomson, Chief Executive, Cairn Energy PLC said: “Following approval from the Government of India, all parties […]