Gasoline news

Saudi Aramco said on Wednesday that it has completed its deal with Saudi Basic Industries. Aramco now has a 70% stake in the Riyadh-based petrochemicals company that it purchased for £55.10 billion. Aramco also announced a 3-year extension on the payment period to 2028, aimed at providing support against weak…

British Petroleum (LON: BP) slashed its long-term price forecasts for oil and gas on Monday as it warned of a lasting impact of the Coronavirus pandemic on the energy sector. The company also said that the virus outbreak will accelerate a global shift to renewable energy. In the current…

Exxon Mobil’s (NYSE: XOM) plans of selling its assets in the British North Sea were previously delayed due to the Coronavirus pandemic and a sharp slump in global oil prices. In an announcement on Thursday, however, industry sources highlighted that the U.S. oil major has now decided to restart…

In a statement on Friday, Premier Oil (LON: PMO) said that British Petroleum (LON: BP) has agreed to lower the price of its assets in the North Sea that it is selling to Premier. BP released its Q1 financial results in the last week of April that…

In an announcement on Thursday, Eni (BIT: ENI) said that it has decided in favour of establishing a separate division that will focus entirely on renewable energy. The Italian oil major has been committed to corporate reorganisation in recent months. Shares of the company climbed more than 1% on…

Chevron Corp. (NYSE: CVX) released its quarterly financial results on Friday and warned that its performance is expected to keep under pressure unless oil prices recover. The company also slashed its 2020 capital expenditures further on Friday. In the first quarter, Chevron generated £25.14 billion in revenue as compared…