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...China relies on Iran for about a tenth of its oil imports but processes the oil not through its state-owned oil and gas companies but through smaller, private, refineries....
...Unlike Looney, Hayward and Browne, he was not a BP-lifer, having joined when it acquired US oil producer Amoco in 1998....
...At the Adipec oil conference in Abu Dhabi in October, Auchincloss said he was “pretty optimistic” about the company’s direction....
...Auchincloss, a Canadian national, joined BP from Amoco in 1998, when the UK-listed company merged with the US business....
...He joined the US oil company Amoco in 1992, becoming the fourth generation of his family to work in energy....
...Auchincloss confirmed on Wednesday that BP’s transition “from international oil company to integrated energy company . . . does not change”. The overarching principle may not change....
...Bringing this oil to market will cost billions of dollars. It may well sell down its stake to an international oil company....
...Ithaca Energy has agreed a deal to acquire almost all of Eni’s UK oil and gasfields in a transaction worth about £750mn that will turn the London-listed company into one of the North Sea’s largest producers...
...In 2022, the company turned a net profit of around $6bn for the first time in a decade thanks to higher oil prices and a reduced tax burden....
...Van Beurden spent 39 years at the oil major. Daniel Berenbaum joins US fuel cell company Bloom Energy as chief financial officer, succeeding Greg Cameron....
...oil sector....
...The short-term swings on Friday showed the markets were in an “agitated” state, said Viktor Katona, head of oil analysis at Kpler, an energy data and research company....
...innovation officer Leigh-Ann Russell is leaving for an external job after 18 years at BP, while Anja-Isabel Dotzenrath, who joined in 2022 to head BP’s gas and low-carbon business, will retire, the FTSE 100 oil...
...While we’ve been watching Nvidia and other sparkly tech stocks, oil has been sneaking up to touch $90 a barrel. Today on the show, we talk about oil supplies, demand and the role of geopolitics....
...Australia’s largest oil and gas developer has launched a staunch defence of its climate plan ahead of a potentially damaging vote on the issue at its annual meeting next week....
...Some of the world’s biggest investors including Norway’s oil fund and a Canadian pension giant have failed in a bid to push Samsung’s de facto holding company to increase dividends and share buybacks....
...Worse, banks have cut specialised loans to oil and gas companies as a direct result of the tax....
...Companies: Blackstone, Netflix, Alaska Air Group and DR Horton report results....
...A dozen of the world’s biggest oil and gas companies are expanding a satellite monitoring campaign to detect methane emissions in emerging economies following detection of 26 large leaks of the planet-warming...
...The deal would make Ithaca one of the biggest independent oil producers in the North Sea and could spur further consolidation, as companies seek scale to fund investment and the cost of decommissioning legacy...
...While more oil could come on line this summer from Opec, which next meets to discuss quotas in June, Sen predicted that oil prices would have to rise further first....
...A flurry of big M&A deals in the late 1990s and early 2000s condensed control of US oil and gas production into the hands of fewer players as BP absorbed Amoco and Arco, Chevron swallowed Texaco and Exxon...
...Mindful of the risk that fresh sanctions on Venezuela might push up oil prices in a US election year, Washington will allow US major Chevron to continue a joint venture with Venezuela’s national oil company...
...The bloc has banned Russian oil and coal imports and the commission has proposed ending all fossil fuel imports from Russia by 2027....
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