Petronas plans to reduce its capital expenditures by 21% and its operating costs by 12% in 2020

Petronas Profit After Tax (PAT) for the quarter stood at RM4.5 billion, 68 per cent lower than the RM14.2 billion posted in the corresponding quarter in the previous year,

Santos today is pleased to announce it has completed the acquisition of ConocoPhillips’ northern Australia and Timor-Leste assets for a reduced purchase price of US$1.265 billion plus an increased contingent payment of US$200 million subject to a final investment decision (FID) on Barossa.

Blockchain’s primary value is providing mathematical proof about the state of data, so that different parties to a transaction can agree on the outcome even if they do not know or trust each other.

Enel S.p.A. (“Enel”) announces that its Chilean subsidiaries Enel Chile S.A. (“Enel Chile”) and Enel Generación Chile S.A. (“Enel Generación Chile”) have informed the market that their Boards of Directors have decided to accelerate the closure of Bocamina coal-fired power plant, located in Coronel.

In December 2019, Russia officially started to supply gas to China through the 3,000 km-long Power of Siberia gas pipeline project.

Chevron Corporation (NYSE: CVX) reported earnings of $3.6 billion ($1.93 per share - diluted) for first quarter 2020,

Putin ordered ministers to work out “special rates” that pipeline operator Transneft PJSC and Russian Railways JSC will charge for transporting crude and petroleum products

Oilfield services companies have lost approximately 49% of their market capitalization since the beginning of this year.

Nord Stream 2 has until June 14 to appeal the BNetzA decision.

Gazprom will not renew a gas transit deal with Poland, which expires in May 2020.

To change the current paradigm, the industry will need to dig deep and tap its proud history of bold structural moves, innovation, and safe and profitable operations in the toughest conditions. The winners will be those that use this crisis to boldly reposition their portfolios and transform their operating models. Companies that don’t will restructure or inevitably atrophy.

In November 2019, the German parliament modified the Energy Industry Act to transpose the European Gas Directive that was amended in April 2019.

The $300 billion Public Investment Fund bought stakes in global corporate leaders such as Boeing, Facebook, Disney, Marriott and Starbucks. It also invested in two big US banks, Citigroup and Bank of America, and took holdings in oil giants BP, Total and Royal Dutch Shell.

“We have to see that Chinese companies, partly with the support of state funds, are increasingly trying to buy up European companies that are cheap to acquire or that got into economic difficulties due to the coronavirus crisis,”