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Thursday, January 28, 2021
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Petroleum

Petrol rations imposed in Portugal after tanker drivers go on strike

Portugal has started rationing petrol as a precaution after 2,000 lorry drivers began an open-ended strike over pay, a move that comes at the...

BP signs oil deal with Abu Dhabi worth $2.22bn

Oil giant BP PLC has agreed to an onshore oil deal with Abu Dhabi worth $2.22 billion following years of negotiations. The deal - signed...

Low oil price sees BP profits plunge 44%

Profits at oil giant BP plunged 44% to US$720m in the second quarter. The slump in underlying replacement cost profit, the benchmark industry measure, comes...

US judge approves $20 billion settlement over 2010 BP oil spill

A federal judge in New Orleans has granted final approval to an estimated $20 billion dollar (€17.5 billion) settlement, resolving years of litigation over...

Oil giants propose to freeze oil production’ if other oil producers join’

Russia has agreed with Opec members Saudi Arabia, Qatar and Venezuela to freeze oil production levels if other producers do the same. Energy minister Alexander...

Shell blames cancelled projects and lower prices for $6bn loss

Royal Dutch Shell has unveiled a US$6.1bn loss in the third quarter as a result of cancelled projects and lower oil and gas prices. The...

BP announces $4.2bn loss as oil prices continue to fall

Oil giant BP swung to a US$4.2bn loss in the first six months of the year after taking another €9.8bn hit from its Deepwater...

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