Elliott presses BP to boost free cash flow by 40% via spending reductions, FT reports
The Financial Times reported that Elliott Management, an activist investor, has urged BP a 40% increase in its free cash flow through spending cuts. Elliott wants BP to…
BP shareholders punish Helge Lind with low support
BP's Murray Auchincloss, CEO and Helge Lund, Chair were reelected on Thursday. However, the dramatically reduced level of support from shareholders for Lund may mean that…
BP's leadership is facing shareholder votes amid Elliott campaign and climate ire
BP's Board is up for reelection on Thursday at its annual meeting. The group will be facing activist shareholder Elliott Management, as well as climate-focused investors…
Indonesia awarded five oil and gas blocks as it seeks energy security
Indonesia has awarded five oil blocks and gas blocks to various companies, the energy ministry announced on Wednesday. The country is trying to increase its oil reserves and energy security.
Elliott builds $1.5-billion stake in Hewlett Packard Enterprise
A person with knowledge of the matter confirmed on Tuesday that hedge fund Elliott Investment Management had built up a stake in Hewlett Packard Enterprise worth more than $1.5 Billion.
India auctions three coal bed methane block
Pallavi Govil, the Directorate General of Hydrocarbons' upstream regulator, announced Tuesday that India had launched an auction of three blocks of coal bed methane and…
Venture Global LNG starts commercial operations at Calcasieu Pass plant
Venture Global LNG announced on Tuesday that it has started commercial operations at the Calcasieu Pass facility in Louisiana. This comes more than three year after the company produced its first liquefied gas.
TotalEnergies expects hydrocarbon production to be at the top of its guidance range for Q1
In a trading update, TotalEnergies said that it expects hydrocarbon output to be at the upper end of its range for the first three months. It said that the hydrocarbon production…
BP discovers oil off US Gulf Coast
BP announced on Monday that it had made an oil find at the Far South Field in the U.S. Gulf of Mexico. The energy giant is seeking to increase production as part of a new strategy…
BP warns about lower production in the first quarter and weak gas sales
Energy group BP said that it expects the first-quarter production of oil and gas to be lower than in the previous quarter. Lower gas output in Egypt and Trinidad and asset sales will offset gains in oil.
Follow This, a group of climate activist shareholders, pauses the big oil campaign
Follow This, a climate activist shareholder group, said that a lack in investor interest has forced them to suspend their campaign to get major oil and gas companies to commit to reducing emissions.
Sources say Vitol will post a net profit of $8 to $8.5 billion in 2024.
Two industry sources said that Vitol was the world's largest energy trader in 2024. This is a significant drop from its record-breaking profits of 2022 and 203, but it still…
Sources say Vitol will post a net profit of $8.0-8.5 billion in 2024.
Two industry sources said that the world's largest energy trader Vitol, despite lower volatility in 2024, made a profit between $8.0 and $8.5 billion. This was a huge margin…
Baker Hughes reports that the US oil rig number has reached its highest level since June.
Baker Hughes, a leading energy services company, said that the U.S. firms cut back on the number oil and gas rigs for the second consecutive week, despite the fact that…
British stocks plunge in worst day for 2020 as US-China Trade War intensifies
Investors avoided risky assets on Friday after China's retaliatory duties against the United States raised fears of a global economic recession. The blue-chip FTSE 100 reached a three-month-low…
Helge Lound, BP chairman, to resign amid Elliott campaign
BP Chairman Helge Lund plans to step down in "likely 2026", and the process of selecting his successor has begun, BP announced on Friday. This comes amid a campaign from…
The LAPFF in Britain recommends voting against BP Chairman, annual report
The Local Authority Pension Fund Forum in Britain (LAPFF), recommended to shareholders on Monday, that they vote against the reelection of BP Chairman Helge Lund and BP's Annual Report…
BP approves Ginger Gas Project in Trinidad and Tobago
BP said that it has approved the Ginger gas project in Trinidad and Tobago. This is one of ten projects named by Murray Auchincloss, CEO, in a recent strategy overhaul to…
Energy assets affected due to sanctions and standoff between Russia and the West
On Tuesday, the United States and Russia reached separate agreements to stop attacks on energy and maritime targets. Washington also agreed to press for the lifting of some sanctions against Moscow.
Iraq plans to increase oil production above 6 million barrels per day by 2029
Iraq plans to increase oil production to 6 million barrels per days (bpds) or more by 2029. This was announced on Sunday by the Iraqi oil ministry, according to Iraq's state news agency.
