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BP drops target for cut in oil output in strategy reset

Exclusive: BP abandons goal to cut oil output, resets strategy

BP has abandoned a target to cut oil and gas output by 2030 as CEO Murray Auchincloss scales back the firm's energy transition strategy to regain investor confidence, three sources with knowledge of the matter said.

Investopedia on MSN · 3h

BP Abandoning Oil, Gas Output Cut Target, Report Says

KEY TAKEAWAYS BP reportedly has given up on its goal to cut oil and gas output by 2030, as the British energy giant's chief executive seeks to build back investor confidence in the company.According to Reuters,

Washington Examiner on MSN · 2h

BP to walk back oil and gas production output cuts

Oil and gas giant BP has reportedly dropped its goals for cutting oil and gas output by 2040 as it shifts away from an ambitious clean energy strategy in light of sustained global demand for fossil fuels.

This Is Money on MSN · 4h

BP set to axe 2030 target for oil and gas output cuts

The oil supermajor's chief executive, Murray Auchincloss, is looking to win back confidence among investors concerned about the firm's share price shrinking amid moderating energy prices.

Ukraine strikes Russian oil hub

Hosted on MSN · 7h

Ukraine strikes oil depot in occupied Crimea

Ukraine's military says it has carried out a strike on a large oil terminal off the coast of the occupied Crimean Peninsula, the latest in a wave of attacks targeting Russian-controlled energy facilities.

The Associated Press on MSN · 6h

Ukraine strikes Russian oil hub as Zelenskyy says war is in 'a very important phase'

Ukraine’s General Staff said on social media that the oil terminal in Feodosia, on the south coast of the Russia-occupied Crimea Peninsula, has been supplying the Russian army with fuel and that the strike was part of an ongoing effort to “undermine the military and economic potential of the Russian Federation.”

The Boston Globe · 7h

Ukraine strikes a Russian oil hub as Zelensky says the war is in ‘a very important phase’

Both sides are facing the issue of how to sustain their costly war of attrition — a conflict that started with Russia's full-scale invasion of Ukraine in February 2022 and that shows no signs of a resolution.

Oil Drops

NBC New York · 6h

U.S. crude oil jumps nearly 3%, trades above $76 as market waits for Israel strike against Iran

U.S. crude oil rose nearly 3% on Monday, as the market waited for Israel to strike Iran. Oil prices spiked last week on fears that Israel could hit the Iran's oil industry in retaliation for Tehran's ballistic missile attack.

Wall Street Journal · 9h

Traders Are Pushing Up Oil Prices Before Israel's Response to Iran

The threat of a wider Israel-Iran war has yet to disrupt the physical flow of oil from Iran or other Gulf states in any major way. Crude prices haven't seemed to notice. Benchmark U.S. futures continued their steep climb Monday,

Bloomberg L.P. · 18h

Oil Drops as Traders Watch for Israel’s Response to Iran Strike

Oil opened the week lower as traders weighed Israel’s potential retaliation against Iran for a missile attack last week, with President Joe Biden discouraging a strike on Tehran’s crude fields.

Middle East Conflict Risks Huge Oil Prices

Reuters on MSN · 3h

India prepared to handle oil supply hit from Middle East conflict, oil minister says

India will be able to navigate through any hit to oil supplies from the potential widening of the Middle East conflict, oil minister Hardeep Singh Puri said on Monday. India, the world's third-biggest oil importer and consumer,

Global News on MSN · 1h

Business Matters: Oil prices could climb even higher amid escalating Middle East conflicts

Crude oil prices soared nearly 10 per cent last week, marking the biggest weekly gain since March 2023 and there are concerns prices could climb higher following escalating conflicts in the Middle East.

24/7 Wall St. on MSN · 6h

Middle East Conflict Risks Huge Oil Prices, Threat to US Economy

Wall St. Insights A wider conflict in the Middle East could drive crude prices much higher. Oil prices affect the U.S. economy in several ways. Also: Dividend legends to hold forever. Oil prices have dropped from $92 a barrel last year to $70 recently.

Chevron to Sell Oil Sands, Shale Assets

Bloomberg L.P. · 1h

CNRL’s $6.5 Billion Chevron Deal Extends Oil Sands Buying Spree

Canadian Natural Resources Ltd.’s $6.5 billion acquisition from Chevron Corp. marks the latest in a string of deals that has helped make it the country’s largest oil producer and brought Alberta’s massive oil sands deposits almost entirely under local control.

Wall Street Journal · 6h

Chevron to Sell Oil Sands, Shale Assets for $6.5 Billion to Canadian Natural

Chevron’s Canada unit plans to sell its stakes in oil sands and shale assets to Canadian Natural Resources for $6.5 billion as part of efforts to achieve divesting goal by 2028.

MarketWatch · 8h

Chevron Canada Limited announces US$6.5 billion sale of its interests in the Athabasca Oil Sands Project and Duvernay shale

CALGARY, AB, Oct. 7, 2024 /CNW/ - Chevron Canada Limited ("CCL") announced today that it and Chevron Canada Oil Sands Partnership ("CCOSP") have entered into a definitive agreement to sell CCOSP's 20 percent non-operated interest in the Athabasca Oil Sands Project,

4hon MSN

Big Oil Urges Trump Not to Gut Biden’s Climate Law

Oil companies try to persuade the former president and his Republican allies not to slash provisions of the Inflation ...

Ports restrict navigation, some oil facilities shut as Milton approaches Florida

At least one oil and gas platform in the U.S. Gulf of Mexico was shut on Monday and Florida ports imposed restrictions on ...

1hon MSN

Anger over ‘BP abandoning goal to cut oil output’; 2,000 jobs saved, 1,000 lost, after TGI Fridays sale – as it happened

Use precise geolocation data and actively scan device characteristics for identification. This is done to store and access ...

Dangote’s Nigerian Crude Grab to Shake Up Atlantic Oil Markets

Dangote oil refinery is due to take in up to 400,000 barrels a day of Nigerian crude over the coming two months as Africa’s ...

7hon MSN

North Dakota’s Likely Next Governor Brushes Off Conflict Concerns, Says His Oil and Gas Ties Would Benefit the State

Kelly Armstrong earns nearly all of his personal income from oil and gas. If elected, he'll lead boards overseeing the ...

1don MSN

Biden oil remarks inject gas price uncertainty into campaign’s final month

Oil prices increased this week after President Biden suggested Israel may target Iran’s oil infrastructure in retaliation for ...

10h

Norway Slows Oil Wealth Spending in Draft 2025 Budget

Norway’s government will tap less of the nation’s $1.7 trillion sovereign wealth fund in next year’s budget as it expects ...

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