BP has cut its prized investor dividend in half after reporting a record US$6.7 billion loss in the second quarter of the year, when the COVID-19 pandemic destroyed fuel demand and oil prices. On Tuesday, the British oil major announced that it will "reset" its shareholder...
Total has announced it will take an US$8 billon impairment on the value of its assets, mainly in carbon-intensive oil sands projects, following the collapse in oil demand earlier this year during the COVID-19 crisis. The French energy major slashed its oil and gas price outlook,...
The gold price soared to an all-time high yesterday amid a fresh wave of investor concerns relating to the COVID-19 pandemic and worsening relations between the US and China. Spot gold rose to reach US$1,945.10 per ounce, surpassing the previous high set in September 2011 and...
Chevron has confirmed it will buy diversified energy firm Noble Energy in a deal that represents the first major outlay in the oil sector since the COVID-19 crisis destroyed fuel demand and sent prices to record lows. The all-stock transaction is valued at US$5 billion, under...
Mines and Money’s excellent Online Connect EMEA conference drew to a close today, with investors and mining companies raising a drink to a hugely successful three days of digital networking, information sharing and - most importantly – deal making. RGN followed the event closely and...
Following the hugely successful Online Connect APAC conference last week, Mines and Money on Tuesday opened the Europe, Middle East and Americas (EMEA) edition of the series. Online Connect aims to keep the conversation flowing across the global resources sector as the world slowly emerges...
Mines and Money’s Online Connect APAC series moved into its second day today, featuring a typical smattering of resources sector experts and executives taking part in debates, project presentations and networking sessions. Below is RGN’s round-up of day two. Northern Australia’s resources minister emphasizes resilience of...
Oil prices built by more than 2% on Monday based on confidence in OPEC+ members complying with a record production cuts agreement and reported signs of rising oil demand. However, the gains were tempered by lingering fears of a fresh wave of COVID-19 infections as lockdown...
The implementation of a nationwide lockdown to contain the spread of COVID-19 in South Africa caused total mining production to fold by 47.3% in April, compared to the same month in 2019. Official data released yesterday by Statistics South Africa revealed that mining output also contracted...
BP has informed its staff that 10,000 jobs will be cut following the crash in oil prices earlier this year and as the company prepares for the energy transition towards lower carbon emissions. The oil giant will let go of 14% of its workforce, mostly those...