BP has declared its profits went up by 139% to US$6.2 billion last year on higher oil prices and growing crude production, but the oil giant confirmed it will continue to invest in green energy going forward. The firm’s Q4 earnings also improved by an even...
New research by the Boston Consulting Group (BCG) suggests that peak oil demand could be reached between the years 2025 and 2030. The US-based global consultancy agency analysed three disruptive scenarios in its study, including the widespread adoption of electric vehicles (EVs), a combination of slower...
Africa-focused oil explorer and producer Tullow Oil (LSE:TLW) has booked a US$600 million impairment charge on its property and equipment assets, due to a continued slump in prices for crude. The pre-tax, non-cash impairment charge was announced in its mid-year trading update, although the report forecasted...
The Canadian oil sands industry has received a welcome boost in the shape of Suncor Energy’s (TSX:SU) ambition to start a new project in Alberta later this year. A barrage of high-profile exits by major oil players have blighted the sector in recent months, with BP,...
Iran’s crude oil production has increased to 3.6 million barrels per day (b/pd), returning to pre-2012 sanction levels in just 100 days - according to data from the International Energy Association. #BREAKING: #Iran crude #oil production jumps to 3.6m b/d, back to pre-2012 sanction levels...