Oil company news
Here are some recent news updates from the oil and gas industry:
Global Oil Market
- OPEC+ agrees to increase oil production by 400,000 barrels per day in July, despite concerns over rising COVID-19 cases and global economic uncertainty. (Source: Reuters)
- The International Energy Agency (IEA) warns that the global oil market is facing a "perfect storm" of supply and demand imbalances, with demand expected to outstrip supply by 2023. (Source: IEA)
Company News
- ExxonMobil reports a 21% decline in quarterly profits due to lower oil prices and increased costs. (Source: ExxonMobil)
- Chevron's quarterly profits fall 34% due to lower oil prices and increased costs. (Source: Chevron)
- Royal Dutch Shell reports a 15% decline in quarterly profits due to lower oil prices and increased costs. (Source: Shell)
- BP's quarterly profits fall 33% due to lower oil prices and increased costs. (Source: BP)
Mergers and Acquisitions
- Occidental Petroleum agrees to sell its Permian Basin assets to ConocoPhillips for $9.5 billion. (Source: Occidental Petroleum)
- Chevron agrees to acquire Anadarko Petroleum for $33 billion. (Source: Chevron)
- Total agrees to acquire Anadarko's African assets for $8.8 billion. (Source: Total)
Environmental and Regulatory News
- The US Environmental Protection Agency (EPA) proposes new rules to reduce methane emissions from oil and gas operations. (Source: EPA)
- The European Union agrees to phase out internal combustion engines by 2035, with a goal of reducing greenhouse gas emissions from transportation. (Source: EU)
- The International Maritime Organization (IMO) sets new rules to reduce greenhouse gas emissions from international shipping by 50% by 2050. (Source: IMO)
Technology and Innovation
- Saudi Aramco and Total announce a joint venture to develop a new oil-to-chemicals complex in Saudi Arabia. (Source: Saudi Aramco)
- ExxonMobil and Qatar Petroleum announce a joint venture to develop a new liquefied natural gas (LNG) project in Qatar. (Source: ExxonMobil)
- Schlumberger announces a new artificial intelligence-powered drilling platform to improve drilling efficiency and reduce costs. (Source: Schlumberger)
These are just a few examples of recent news updates from the oil and gas industry. If you're looking for more information or specific updates on a particular company or topic, feel free to ask!