How FTSE Oil Majors Reacted to Brent Crude’s Two-Year High Mark

• May 25, 2021 10:51 AM BST
• Suhita Poddar

Summary Shell would be selling its interest in Texas-based Deer Park refinery. The transaction will transfer Shell's full ownership of the refinery to the Mexican oil major by the end of fourth quarter this year. Pemex would now be providing e...

• May 19, 2021 02:45 PM BST
• Suhita Poddar

Oil majors BP Plc and Eni S.p.A. (BIT: ENI) are reportedly in talks for the merger of their oil and gas operations in Angola. If the plan succeeds, the two firms will one of the biggest energy companies in Africa, producing roughly 200,000 barrels ...

• May 18, 2021 12:16 PM BST
• Abhijeet

Summary BP Plc is planning to sell its 28 per cent stake in the Shearwater field to Tailwind Energy Ltd. The Shearwater field is operated by oil major Royal Dutch Shell Plc. In 2016, Tailwind was incorporated to acquire oil and gas assets that...

• May 17, 2021 05:09 PM BST
• Abhijeet

Summary Investors have questioned BP championing of gas, saying that it may be at odds with the oil major’s promise to support the Paris Agreement. Analysts have said that since there is no clear-cut blueprint for what the Paris agreement...

• May 13, 2021 01:44 PM BST
• Suhita Poddar

Summary Shareholders of BP Plc voted against a resolution to take the company closer to achieving its climate commitments. Over 79 per cent of total shareholders opposed a proposal placed by a shareholder group. Powerhouse Energy Group Plc wou...

• May 05, 2021 03:17 PM BST
• Suhita Poddar

Summary Royal Dutch Shell Plc to divest its Puget Sound Refinery in Washington to HollyFrontier Corp. The agreement has been finalised at $350 million in cash. The company would also additionally pay $150 million to $180 million for the invent...

• May 04, 2021 05:41 PM BST
• Suhita Poddar

Summary Net income of Saudi Aramco jumped to US$ 21.7 billion for Q1 2021 (Q1 2020: US$ 16.7 billion). The firm’s earnings before interest, income taxes and zakat for Q1 2021 was US$ 40,982, whereas Cash flow from operating activities was...

• April 27, 2021 03:34 PM BST
• Suhita Poddar

Summary The Q1 2021 profits of BP Plc jumped to $4.7 billion, up from a profit of $1.4 billion in the previous quarter. The company announced it would begin its share buyback programme worth $500 million in the second quarter of 2021. The comp...

• April 27, 2021 02:22 PM BST
• Suhita Poddar

Summary Many companies, which had withheld dividend, have started resuming payouts. Last year, half of the dividend cuts were from the Oil & Gas sector BP has announced a dividend of 5.25 cents per share for Q1.  Dividends matte...

• April 19, 2021 02:45 PM BST
• Suhita Poddar

Source: Robert Lucian Crusitu, Shutterstock Summary The exploration firm released its operational update for the Talitha #A well stating that it flowed high quality light oil intermittently at a disappointing rate of up to 100 barrels oil per d...