Royal Dutch Shell warned on Thursday that lower oil prices could continue for several years, as earnings fell by a third.» Read More
PARIS— French energy giant Total SA says its net profit slid 4 percent in the second quarter as higher production helped offset a steep drop in the price of oil. Total on Wednesday reported a net profit of $2.97 billion, down from $3.1 billion a year earlier. Underlying replacement cost profit, which strips out one-time items and changes in the value of inventories,...
The world's big energy groups have shelved $200 billion of spending on new projects in a round of cost-cutting aimed at protecting investors. The Financial Times reports.
NEW YORK, July 24- French oil major Total S.A. is selling a 50 percent stake in its sole U.S. refinery in Port Arthur, Texas, and has retained investment bank Lazard to advise on the deal, according to a source familiar with the matter. Lazard and Total both declined to comment. In June, Exxon Mobil Corp and Petroleos de Venezuela SA sold their 192,500 bpd Chalmette,...
International energy, financial and manufacturing firms all stand to gain from lifted Iranian sanctions.
Philippe Boisseau, president of New Energies at Total, explains why China extended its lead over the U.S. as the world's largest investor in renewable energy last year.
Philippe Boisseau, president of New Energies at Total, discusses the launch of its new Singapore plant which will be the biggest lubricants oil blending facility in the world.
The shale gas revolution will be "very painful for many parts of the world," with the U.S. potentially the new swing producer, the head of BP told CNBC.
The joint declaration issued by six European oil and gas majors was cautiously embraced by the United Nations, which will host negotiations this December in Paris aimed at designing a plan to cut the fossil fuel emissions that scientists blame for rising temperatures. Total SA, Statoil, BP Plc, Royal Dutch Shell Plc, Eni and BG Group Plc called for "decisive action"...
Six oil and gas companies have banded together to ask the UN to let them help devise a plan to stop global warming.
Technology made the US oil shale boom. New technology may allow oil giants Saudi Arabia and Norway to become the next fracking boomers.
April 30- Solar panel makers SunPower Corp and First Solar Inc reported a quarterly loss, compared with a year-earlier profit, as they sold fewer power plants ahead of a spinoff of some of their assets into a joint public entity. SunPower and First Solar said in February that they would spin off some of their power plants into a limited partnership called 8 point3...
Oil major Statoil swung to a first quarter net loss on a writedown in the value of its U.S. shale business.
Profits from refining and trading rose to $2.65B from $1.575B a year earlier, offsetting a sharp drop in oil and gas production earnings.
John Licata, founder & chief energy strategist at Blue Phoenix, says strength in the downstream enabled European oil companies BP and Total to report higher-than-expected profits.
European equities closed lower on Tuesday, as investors took a breather from a stellar rally in the previous session and looked ahead to a meeting of the U.S. Federal Reserve.
As tensions in the Ukraine rise, European sanctions are squeezing Russia's energy sector. Production is flat, and oil deliveries are down.
Oil CEOs expect low oil prices to linger for at least a few years, due to a market flush with private financing and productive wells.
US oil companies have quickly become the new swing factor in the oil market. How they react to the crash will be key to future oil prices.
April 16- Solar panel maker SunPower Corp said it would partner with Apple Inc to build two solar power projects in China's Sichuan province with total capacity of 40 megawatts. The projects, when complete, will be co-owned by Apple and Sichuan Shengtian New Energy Development Co Ltd, SunPower's project development joint venture. SunPower and longstanding...
SYDNEY, April 14- Papua New Guinea's National Petroleum Company said it is looking to raise billions of dollars to help fund new oil and gas projects, as the South Pacific country battles a sharp slump in forecast revenue from a plunge in prices for the commodities. While prospects for new liquefied natural gas developments globally have been hammered by the...