Markets

California officials are urgently seeking a buyer for Valero’s Benicia refinery before its scheduled Apr. 2026 closure to avert a significant fuel shock and price volatility in the state.

Shell is significantly reinforcing its presence in Malaysia, committing to invest over RM9 B (Ringgit Malaysia) in the country over the next two to three years.

bp boss Murray Auchincloss has defended the company's decision to increase fossil fuel production and revise its renewable energy targets, citing positive feedback from investors.

bp (formerly BP) is undergoing a substantial strategic overhaul, pivoting away from its prior emphasis on rapid renewable energy expansion and refocusing on its core oil and gas operations.

Canada’s federal government has introduced an emissions cap targeting its oil and gas sector, which is responsible for a significant portion of the country's greenhouse gas emissions.

Baker Hughes and Repsol have entered a partnership aimed at advancing artificial intelligence (AI) capabilities through the Leucipa™ automated field production solution.

Electrifying upstream oil and gas production facilities offers a potential reduction in emissions by over 80%, providing a crucial pathway for decarbonization in the sector.

Italian energy major Eni S.p.A. has undertaken a significant restructuring of its organizational framework aimed at enhancing the integration of its energy businesses while advancing its decarbonization initiatives.

In recent years, regional banks in North America have notably increased their lending to the fossil fuel sector, diverging from the trend among European banks, which have either reduced their financing or committed to lowering their exposure to oil, natural gas, and coal.

At the APPEC 2024 conference, Asian upstream players expressed a strategic focus on acquiring oil and gas-producing assets due to the evolving dynamics of the global energy transition.