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...Alongside BP, it launched arbitration proceedings against the company in September. Venture Global has denied the allegations....
...Big oil groups have also joined the lobbying effort, with BP and Woodside Energy among fossil fuel companies that recently wrote to the government to “act prudently” in its guidance....
...Other energy companies are also looking to convert oil refineries for biofuels production....
...The revision comes after the company pledged to devote a higher proportion of spending to oil and gas last year, and other oil groups such as BP have slowed their retreat from oil....
...Meanwhile, BP has finally announced a new permanent chief following Bernard Looney’s abrupt departure in September after failing to disclose past relationships with company colleagues....
...Two other recent examples are BP’s Deepwater Horizon crisis in 2010 and the Volkswagen Emissions Scandal of 2015; one might also think of the existential crises at Bank of America and UBS a decade and a...
...At the COP28 climate conference in December, companies representing about a third of global oil and gas production including ExxonMobil, TotalEnergies, BP and Shell pledged to stop routine flaring of excess...
...oil and gas production....
...In London, we have woken up to the news that Saudi Arabia has ditched a plan to increase its oil production in a major policy reversal for the kingdom....
...It is building a facility in Penang, but some US lawmakers already want to restrict American companies from collaborating on RISC-V projects....
...T V Narendran, the Tata Steel chief executive, said last week he did not rule out such a plant, if conditions were right....
...The two biggest US oil companies have set off a race to secure petroleum reserves for the decades ahead, inking multibillion-dollar transactions to snap up the most promising production hotspots despite...
...This is a significant development as the industry wields ever growing influence over corporate America....
...Since then oil production cuts by Opec+ have pushed prices towards $90 a barrel, but weaker energy prices are expected to have taken their toll on the company....
...America will increase its dominance in LNG The US in 2023 overtook Qatar and Australia to become the world’s biggest player in liquefied natural gas, according to initial analyst estimates....
...Concerns about skills shortages are occurring against the backdrop of record production and a mergers and acquisitions boom in the US, where companies forecast robust fossil fuels demand for decades....
...While European oil majors including BP and Shell have developed sizeable wind and solar businesses, Exxon and US rival Chevron have resisted calls to move into renewables, arguing they lack core capabilities...
...Having worked out how to run a business, and how to work for others, he is turning his attention to craft as the fundamental component of luxury and to slowing down production....
...Brian Bolster, Goldman Sachs’ head of natural resources investment banking in the Americas, is retiring, our Due Diligence colleagues reported yesterday....
...The unusually fast ramp-up could push production to 1.2mn b/d by 2027 — equivalent to about a third of Exxon’s current daily production....
...Most of the initial signatories were national oil companies, such as Saudi Aramco and Brazil’s Petrobras, which account for more than half of global production but typically face less pressure to decarbonise...
...A combined entity would be comparable to BP, which sold 19mn tonnes last year....
...More oil industry news: Activist investor Bluebell Capital Partners has called on BP to ditch its commitment to cut oil and gas output as well as other keys parts of its strategy to transform the company...
...It will raise the company’s production capacity in the region to 400,000 b/d, nearly 20 per cent of its total global output....
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