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Oil gas
Why is BP (LON: BP) expanding renewable energy supply to Amazon?
December 11, 2020 07:03 PM AEDT| By Team Kalkine MediaSummary The oil giant will supply additional renewable energy to Amazon to power its European operations It will be trebling its renewable power usage for delivering this electricity through its wind projects located in Sweden and Scotland .....
Top Executives at Royal Dutch Shell (LON: RDSA) Quit Over Green Transition Concern
December 10, 2020 08:04 PM AEDT| By Team Kalkine MediaSummary Three top executives of Royal Dutch Shell from different renewable energy business segments have resigned weeks prior to the company’s announcement of its strategy for the energy transition. The pandemic outbreak has led to a mass.....
BP (LON: BP.) To Expand Its Oil Production in the Middle East
December 09, 2020 01:19 AM AEDT| By Hina ChowdharySummary BP will be increasing its investments in middle eastern oil and gas fields from 2021. The main reason for the announcement seems to be the very low capital cost, operating cost, and production efficiency the middle- East region offers t.....
Shell (LON: RDSA), BP (LON: BP.) Banking on Retail Network for Boosting Profit
December 04, 2020 12:00 AM AEDT| By Kunal SawhneySummary Major European oil conglomerates are eyeing increasing their investment in the snacks and groceries at their retail outlets Shell is planning to expand the footprint of its retail networks by more than 20 per cent to 55,000 locations gl.....
Zephyr Energy (LON: ZPHR) granted final approvals for its State 16-2 well
December 03, 2020 08:39 PM AEDT| By Hina ChowdharyZephyr Energy PLC had provided an update on its Paradox project where it is preparing to begin with the drilling of the 'dual-use' State 16-2 well before the end of this year. The company made an announcement that it has been granted with .....
ExxonMobil writes down value of its assets amid the ongoing energy market crisis
December 02, 2020 01:21 AM AEDT| By Team Kalkine MediaSummary The company has written down the value of its natural gas assets by $17 billion and also slashed its capital spending to a 15-year low. The company has been facing a severe demand crunch since the pandemic outbreak, which has scaled dow.....
Royal Dutch Shell Plc (LON: RDSA) Faces First Court Hearing in Climate Change Case
December 01, 2020 06:27 PM AEDT| By Team Kalkine MediaSummary Shell is going to face a Dutch court in a climate case filed by environmentalists and human rights organisations The environmentalists have demanded that the company should slash its reliance on fossil fuels Shell has pledged to cut do.....
Royal Dutch Shell to close its Louisiana-based refinery
November 28, 2020 07:17 PM AEDT| By Kunal SawhneyOil and gas major Royal Dutch Shell plc (LON: RSDA) is planning to permanently shutdown its 211,146 bpd Convent refinery in Louisiana by early next week. On 5 November, the company had announced that it would be closing the refinery as it had faile.....
How will Block Energy benefit from the acquisition of SRCL?
November 24, 2020 01:17 AM AEDT| By Team Kalkine MediaSummary Block Energy Plc has reported its first commercial sale from West Rustavi oil & gas field. The Company has made sale proceeds in US$ 568,000 during September and October 2020. The Company will complete the acquisition of the Schlum.....
BP moving to hydrogen as renewables hit a record growth
November 12, 2020 12:40 AM AEDT| By Kunal SawhneySummary Offshore wind to power the oil major’s onshore hydrogen plant in Germany 90 per cent of the new electricity generation to come from the renewables in 2020 BP plc has partnered with Ørsted A/S for producing hydr.....
AFC Energy makes notable business advancements in 2020
November 05, 2020 05:15 AM AEDT| By Team Kalkine MediaSummary Various commercial agreements at different developmental stages, growing across key markets Accomplished an oversubscribed fundraiser, largest in the company’s entire history AFC Energy plc (LON: AFC), the company providing t.....
Shell’s Shares in A Sombre Mood After A Social Media Post Row
November 05, 2020 01:58 AM AEDT| By Kunal SawhneySummary Shell had posted a climate poll on a social media platform and suffered backlash from netizens The Group aims to reshuffle its Refining portfolio and would like to transition to six high-value energy and chemicals parks The e.....
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BP releases positive results for Q3, but share price slumps
October 28, 2020 11:38 PM AEDT| By Team Kalkine MediaBP releases positive results for Q3, but share price slumps The oil major reports small profit but cautions over pandemic related uncertainties BP leads an energy alliance to lower carbon dioxide emissions BP recently released its third qu.....
Tullow oil shares close 25 per cent up as Uganda govt approves $575 million asset sale
October 22, 2020 11:59 PM AEDT| By Kunal SawhneySummary Tullow had been waiting since 2017 to close its divestment in the Lake Albert Development Project but was constantly obstructed. After completion of the deal, Total would pay $500 million in cash for the deal. When production would sta.....
BP draws investors’ attention over lowering carbon footprint
October 16, 2020 09:41 PM AEDT| By Kunal SawhneySummary BP (LON: ) had announced a " Net Zero" plan to reduce its carbon footprint to zero by the year 2050. The company currently emits nearly 400 million tons of carbon dioxide equivalent per year, mostly from its exploration and drilling div.....
Deloitte Steps Down as Issa Brothers’ EG Group Auditor
October 16, 2020 02:31 AM AEDT| By Kunal SawhneySummary The British petrol stations company, EG Group has appointed KPMG as its new auditor after Deloitte resigned on governance concern Deloitte had signed a clean audit of the Group’s 2019 financial statements and there have been no di.....
Aminex (LON: AEX) share price shot up after receiving Tanzania’s approval
October 14, 2020 07:37 PM AEDT| By Team Kalkine MediaSummary The Government of Tanzania provided approval to Aminex for transferring a 50 per cent interest in the Ruvuma PSA to ARA After completing the farm-out within next few days, Aminex would give the operatorship to ARA The Ruvuma gas projec.....
Wood Group (LON: WG.) extends its credit facility
October 12, 2020 05:51 PM AEDT| By Team Kalkine MediaSummary Wood Group extended its revolving credit facility till May 2023. Due to considerable financial headroom and liquidity positions, Wood Group recognised the need for a lesser debt. Wood Group (John) plc (LON: WG.) recently announced .....
Shell and BP Share Price Collapse - Is It Fear of Another Divergence?
October 10, 2020 11:49 PM AEDT| By Team Kalkine MediaSummary Shell and BP shares have dropped significantly during the first week of October with a sudden spike in Covid-19 cases With the onslaught of the pandemic, governments and environmental activists are pushing for lesser carbon emissions .....
BP and Shell share prices at 25-year low: Does this call for investment in oil stocks?
October 08, 2020 02:05 AM AEDT| By Team Kalkine MediaSummary In early October 2020, the share prices of BP and Shell hit their lowest levels in 25 years. Recent increase in Covid-19 infections globally has fueled fears of a fall in demand for energy. Lower demand for oil has resulted in considera.....
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