Crude oil prices continued to fall on Tuesday, with WTI trading just above $75 and Brent slipping below $80.
Concerns about Chinese demand continue to drag prices lower, with expectations of China’s manufacturing activity shrinking for a third month in a row.
In some bullish news, Venezuela’s election results could lead to tighter US sanctions and lower oil supply.
U.S. oil and gas producer Occidental Petroleum said on Monday it would sell certain Delaware Basin assets inTexas and New Mexico to Permian Resources for about $818 million, as it plans to cut down debt.
British oil giant BP posted underlying replacement cost profit, used as a proxy for net profit, of $2.8 billion for the second quarter.
That beat analyst expectations of $2.6 billion, according to an LSEG-compiled consensus.
The energy firm announced it had increased its dividend by 10% and extended its share repurchasing program.
SLB (NYSE: SLB) today announced the award of an integrated engineering, procurement, construction and installation (EPCI) contract by bp to its OneSubsea™ joint venture and Subsea7 for the Murlach development (formerly Skua field), 240 kilometers east of Aberdeen in the UK North Sea.
A new gas and condensate discovery in TAL block in Pakistan’s Khyber Pakhtunkhwa province de-risks further exploration in the block.
Eni SpA’s second-quarter profit was better than expected after a strong performance at its upstream business, prompting the company to revise its guidance for the year.
Technip Energies N.V. has been contracted by Chevron Phillips Chemical (CPChem) to supply a proprietary low-emission cracking furnace for an existing olefins unit in Sweeny, Texas.
Egypt’s Ministry of Petroleum and Mineral Resources has signed investment deals with Shell Egypt, Petronus Gas and Cheiron Energy totalling $340m.
Vital Energy and Northern Oil and Gas will jointly acquire U.S. shale assets from private equity-owned Point Energy Partners for $1.1 billion, the companies said on Sunday.
Malaysia’s Petroliam Nasional Bhd (Petronas) has secured land to progress its Southern Carbon Capture and Storage (CCS) hub project in Pahang.