The Q1 2022 report from bp also indicated a replacement cost profit of $6.2 billion, up from $4.1 billion in the previous quarter. This was due to excellent oil and gas trading, greater oil realizations, and a superior refining result, partially offset by the absence of Rosneft from the underlying result in the first quarter.
Ukraine's gas pipeline operator reported on Wednesday that no Russian gas transit nominations were received at the Sokhranovka entry point for May 11, following Kyiv's warning that this route could be shut down.
Over the next five years, Neptune Energy plans to spend over $1 billion on securing UK energy supplies and accelerating the transition to net zero.
With a market value of $2.464 trillion, Saudi Aramco briefly topped the list of most valuable companies on Tuesday, surpassing US technology giant Apple Inc.'s $2.461 trillion value.
An agreement between Equinor and Sval Energi has been reached for the sale of Equinor's non-operated interest in the Greater Ekofisk Area and a minority share in Martin Linge (19%).
bp has signed a ten-year contract with Clean Planet Energy, a UK-based company developing the technology to convert hard-to-recycle waste plastics into circular petrochemical feedstocks and ultra-low sulphur diesel (ULSD). A facility developed by Clean Planet Energy is called an ecoPlants, and it is expected to process plastics that are typically rejected by traditional recycling centers and therefore will otherwise end up in landfill or incineration.
On Monday, Saudi Arabian Oil Co. briefly rose to a record high, tying with Apple Inc. for the title of world's most valuable company. Shares of the world's largest oil company have risen as oil prices have rallied, while Apple has been hit by a broader selloff.
According to Saudi Aramco's pricing document published on Sunday, the country has reduced the price of its Arab Light crude grade to Asia and Europe.
In comparison to the same month last year earlier, China's crude oil imports rose nearly 7%, the first increase in three months, although sluggish fuel demand due to COVID-19 lockdowns dampened refinery throughput.
A commercial gas discovery was made by the Athena exploration well, offshore Israel, according to Energean plc.
