Oil and Gas Industry

BP announces a major strategy reset as profits fall by 35 percent, with CEO Murray Auchincloss promising cost cuts and improved financial performance.

KEY POINTS Oil-producing nations in Africa have raised 45% of the initial $5 billion in seed capital for the planned Africa Energy Bank, which will fund oil projects on the …

WEG Africa completes a durable substation E-house for Sasol’s Mozambique project, boosting energy production.

APA Corp is exploring a $1 billion sale of its Permian Basin assets to streamline operations and reduce debt, aligning with its strategic focus on shale production.

US unveils $850 million grant program to help small oil and gas producers reduce methane leaks. Initiative targets development of methane detection technologies and aims to curb potent greenhouse gas.

In a landmark deal, ConocoPhillips acquires Marathon Oil, enhancing its market position and operational efficiency in the energy sector.

Major oil and gas companies reported weaker-than-expected first-quarter earnings on Friday, as a sharp drop in natural gas prices compared to last year took a bite out of profits. The …

The Biden administration on Friday unveiled a series of reforms designed to increase revenue generated from oil and gas drilling on federal lands, while also addressing environmental concerns. The new …

Exxon Mobil CEO Darren Woods received a nearly 3% raise in total compensation for 2023, reaching $36.9 million, according to a regulatory filing submitted by the oil giant. This news …

The Labour leader tries to reassure workers in the North Sea sector but faces criticism from the SNP. The fate of the oil and gas industry in Scotland has become …