oil and gas Tag

Mexico’s state-run oil company Pemex announced on Friday the discovery of an oil field that could generate 500 million barrels of crude, making it the country’s biggest oil find in over 30 years. Pemex first discovered the Quesqui field, a 3P reserve, in the Southeastern state...

BP has increased its shareholding in the UK-based solar energy firm Lightsource BP, creating a simplified 50:50 joint venture structure. The oil major returned to the solar market by acquiring 43% of Lightsource in December 2017, which was subsequently rebranded to Lightsource BP. BP yesterday announced that...

Iranian President Hassan Rouhani has announced that a new oil field in the Southwest of the country has been discovered, which could increase Iran’s proven crude reserves by around a third. "We have found an oil field with 53 billion barrels of oil in place, 53...

BP’s profits in the third quarter took a significant hit after taking a one-off US$2.6 billion charge linked to asset sales, however outgoing chief executive Bob Dudley said underlying cash flow and earnings remained strong in the period. The $2.6 billion charge resulted in a $700...

BP is on the brink of a new era after long-standing chief executive Bob Dudley announced he would be stepping down from the role, to be replaced by the oil major’s current head of exploration and production Bernard Looney. Since taking the top job in the...