• Electricity
    • Nuclear
    • Thermal
    • Coal
  • Natural Gas
    • Upstream
    • Shale/Unconventional
    • Downstream
    • Lng/Lpg
  • Oil
    • Upstream
    • Downstream
    • Refining/Petro Chemistry
    • Transportation/Fuel Oil
  • Renewable
    • Wind
    • Solar
    • Hydro
    • Geothermal/Biomass
  • Finance
    • Projects
    • Invesments
    • Stock Market
  • Regulation
    • Oil
    • Electricity
    • Natural Gas
    • Renewable
    • LPG
  • Energy Diplomacy
    • Energy Security
    • International Relations
    • International Organization
    • Energy Projects
  • World
    • Turkey
    • Europe
    • Eurasia
    • Asia
    • Americas
    • Middle East-Africa
  • Reports
  • other
    • News from companies
    • Energy Meetings
    • Video
  • Türkçe
  • English

Anadolu AgencyAnadolu Agency

  • Log Out Log in
  • Anadolu Agency
  • Electricity
    • Nuclear
      Japan decides to release Fukushima wastewater into sea

      Japan decides to release Fukushima wastewater into sea

      Iran's Zarif calls Natanz incident 'nuclear terrorism'

      Iran's Zarif calls Natanz incident 'nuclear terrorism'

      Accident at atomic site 'nuclear terrorism': Iran

      Accident at atomic site 'nuclear terrorism': Iran

      Germany stresses 'real chance' to save Iran nuke deal

      Germany stresses 'real chance' to save Iran nuke deal

    • Thermal
      Spot market electricity prices for Thursday, April 15

      Spot market electricity prices for Thursday, April 15

      Turkey's daily power consumption up 0.72% on April 13

      Turkey's daily power consumption up 0.72% on April 13

      Turkey's electricity consumption up 12.24% in March

      Turkey's electricity consumption up 12.24% in March

      Turkey's daily power consumption up 0.09% on April 1

      Turkey's daily power consumption up 0.09% on April 1

    • Coal
      Coal boom in China offset record plant retirement

      Coal boom in China offset record plant retirement

      Finance shifts to low-carbon with fossil stock losses

      Finance shifts to low-carbon with fossil stock losses

      Drastic action needed to avoid climate change costs

      Drastic action needed to avoid climate change costs

      Spot market electricity prices for Saturday, March 20

      Spot market electricity prices for Saturday, March 20

  • Natural Gas
    • Upstream
      Eni announces oil discovery in Western Desert of Egypt

      Eni announces oil discovery in Western Desert of Egypt

      US produces, consumes record high natural gas in 2019

      US produces, consumes record high natural gas in 2019

      Nigeria's president launches new gas pipeline project

      Nigeria's president launches new gas pipeline project

      OPEC holds first technical meeting with gas exporters

      OPEC holds first technical meeting with gas exporters

    • Shale/Unconventional
      Spot market natural gas prices for Monday, March 8

      Spot market natural gas prices for Monday, March 8

      Spot market natural gas prices for Sunday Aug. 23

      Spot market natural gas prices for Sunday Aug. 23

      Spot market natural gas prices for Monday, March 2

      Spot market natural gas prices for Monday, March 2

      Spot market natural gas prices for Tuesday, Feb. 11

      Spot market natural gas prices for Tuesday, Feb. 11

    • Downstream
      Spot market natural gas prices for Tuesday, March 16

      Spot market natural gas prices for Tuesday, March 16

      Turkey's gas imports from Iran see sharp fall in 2020

      Turkey's gas imports from Iran see sharp fall in 2020

      3rd Turkish drillship leaves Mersin bound for Black Sea

      3rd Turkish drillship leaves Mersin bound for Black Sea

      Dialogue, de-escalation in E.Med benefit everyone: NATO

      Dialogue, de-escalation in E.Med benefit everyone: NATO

    • Lng/Lpg
      LNG, Russian gas competition to continue in EU: Experts

      LNG, Russian gas competition to continue in EU: Experts

      Nigerian LNG vessel arrives in Turkey on April 12

      Nigerian LNG vessel arrives in Turkey on April 12

      Nigerian LNG vessel to arrive in Turkey on April 12

      Nigerian LNG vessel to arrive in Turkey on April 12

      Qatar Petroleum to solely own Qatargas 1 in 2022

      Qatar Petroleum to solely own Qatargas 1 in 2022

  • Oil
    • Upstream
      Oil prices up by over 2% for week ending April 2

      Oil prices up by over 2% for week ending April 2

      Indonesia's Balongan refinery rocked by massive blast

      Indonesia's Balongan refinery rocked by massive blast

      ExxonMobil makes first discovery offshore Suriname

      ExxonMobil makes first discovery offshore Suriname

      Rosneft income falls 77%, revenue down 51% in 2Q20

      Rosneft income falls 77%, revenue down 51% in 2Q20

    • Downstream
      US oil rig count rises by 2 for week ending Jan. 22

      US oil rig count rises by 2 for week ending Jan. 22

      ExxonMobil makes first discovery offshore Suriname

      ExxonMobil makes first discovery offshore Suriname

      US oil rig count rises by four for week ending Oct. 9

      US oil rig count rises by four for week ending Oct. 9

      Lundin upgrades Edvard Grieg field reserve estimates

      Lundin upgrades Edvard Grieg field reserve estimates

    • Refining/Petro Chemistry
      Oil prices up by over 2% for week ending April 2

      Oil prices up by over 2% for week ending April 2

      Oil prices up over OPEC+’s cautious output ease

      Oil prices up over OPEC+’s cautious output ease

      EU halts sanctions for more Turkish oil firm officials

      EU halts sanctions for more Turkish oil firm officials

      Brent oil price down 0.56% for week ending Feb. 19

      Brent oil price down 0.56% for week ending Feb. 19

    • Transportation/Fuel Oil
      Suez Canal traffic jam cleared, says Egypt

      Suez Canal traffic jam cleared, says Egypt

      Oil prices up by over 2% for week ending April 2

      Oil prices up by over 2% for week ending April 2

      Oil majors accelerate energy transition policies: Fitch

      Oil majors accelerate energy transition policies: Fitch

      Venezuela condemns US policy of seizing fuel shipments

      Venezuela condemns US policy of seizing fuel shipments

  • Renewable
    • Wind
      Turkey ranks as 5th biggest wind investor in Europe

      Turkey ranks as 5th biggest wind investor in Europe

      Global oil demand to increase 6% in 2021: OPEC

      Global oil demand to increase 6% in 2021: OPEC

      Europe invests record €42.8 bln in wind energy in 2020

      Europe invests record €42.8 bln in wind energy in 2020

      Nordex Group wins turbine order for Istanbul wind farm

      Nordex Group wins turbine order for Istanbul wind farm

    • Solar
      Oil-rich Saudi Arabia branches into solar power

      Oil-rich Saudi Arabia branches into solar power

      Turkey's Gumbel Group to invest $15M in solar technology

      Turkey's Gumbel Group to invest $15M in solar technology

      Wind and solar drive record drop in coal in 2020

      Wind and solar drive record drop in coal in 2020

      Turkey’s solar power generation soars 50%: Energy min.

      Turkey’s solar power generation soars 50%: Energy min.

    • Hydro
      BP plans UK’s largest hydrogen project

      BP plans UK’s largest hydrogen project

      Hydro provides most of Norway's power in February

      Hydro provides most of Norway's power in February

      China plans world’s biggest dam build on Tibetan river

      China plans world’s biggest dam build on Tibetan river

      IRENA boosts sustainable hydropower through partnership

      IRENA boosts sustainable hydropower through partnership

    • Geothermal/Biomass
      Europe needs to build more wind farms for climate goals

      Europe needs to build more wind farms for climate goals

      Turkey in top 4 countries with geothermal capacity

      Turkey in top 4 countries with geothermal capacity

      Biomass can meet one-third of Turkey's annual power

      Biomass can meet one-third of Turkey's annual power

      EU approves €550M Danish aid to support biomass plants

      EU approves €550M Danish aid to support biomass plants

  • Finance
    • Projects
      Turkey unveils Economic Reform Action Plan

      Turkey unveils Economic Reform Action Plan

      BP plans UK’s largest hydrogen project

      BP plans UK’s largest hydrogen project

      US warns entities to abandon Nord Stream 2 gas pipeline

      US warns entities to abandon Nord Stream 2 gas pipeline

      Turkey announces landmark new economic reform package

      Turkey announces landmark new economic reform package

    • Invesments
      Turkey to boost green bonds for more clean investment

      Turkey to boost green bonds for more clean investment

      Turkey: public sector vital for getting energy invests.

      Turkey: public sector vital for getting energy invests.

      Turkey announces landmark new economic reform package

      Turkey announces landmark new economic reform package

      Over $1T invested in coal despite trendy climate goals

      Over $1T invested in coal despite trendy climate goals

    • Stock Market
      Turkey's electricity consumption up 12.24% in March

      Turkey's electricity consumption up 12.24% in March

      Oil prices up over OPEC+’s cautious output ease

      Oil prices up over OPEC+’s cautious output ease

      Turkey's daily power consumption up 0.35% on March 18

      Turkey's daily power consumption up 0.35% on March 18

      Oil majors accelerate energy transition policies: Fitch

      Oil majors accelerate energy transition policies: Fitch

  • Regulation
    • Oil
      Oil up on US inventory fall, UK vaccine approval

      Oil up on US inventory fall, UK vaccine approval

      Fitch reduces oil price forecast due to higher supply

      Fitch reduces oil price forecast due to higher supply

      S. Arabia, Iraq discuss efforts to stabilize oil market

      S. Arabia, Iraq discuss efforts to stabilize oil market

      US crude oil inventories fall for week ending Aug. 14

      US crude oil inventories fall for week ending Aug. 14

    • Electricity
      Spot market electricity prices for Friday, Dec. 4

      Spot market electricity prices for Friday, Dec. 4

      24/7 power with Turkey’s new mobile monitoring system

      24/7 power with Turkey’s new mobile monitoring system

      Turkey's daily power consumption up 3.28% on Sept. 8

      Turkey's daily power consumption up 3.28% on Sept. 8

      Sudan: Flashpoint Ethiopian dam not related to floods

      Sudan: Flashpoint Ethiopian dam not related to floods

    • Natural Gas
      Turkey's daily power consumption down 0.77% on Oct. 23

      Turkey's daily power consumption down 0.77% on Oct. 23

      Russian Lukoil starts Chashkino gas-turbine power plant

      Russian Lukoil starts Chashkino gas-turbine power plant

      Gazprom posts 26% loss in 1H20

      Gazprom posts 26% loss in 1H20

      Trump scraps Obama methane limits in oil, gas sectors

      Trump scraps Obama methane limits in oil, gas sectors

    • Renewable
      Global oil demand to increase 6% in 2021: OPEC

      Global oil demand to increase 6% in 2021: OPEC

      Oil-rich Saudi Arabia branches into solar power

      Oil-rich Saudi Arabia branches into solar power

      Europe invests record €42.8 bln in wind energy in 2020

      Europe invests record €42.8 bln in wind energy in 2020

      Global electric vehicle adoption accelerates in 2020

      Global electric vehicle adoption accelerates in 2020

    • LPG
      Turkey's LPG imports down 21.07% in January

      Turkey's LPG imports down 21.07% in January

      Pandemic reveals importance and reliability of LPG

      Pandemic reveals importance and reliability of LPG

      Turkish fund Oyak to buy Demiroren's auto fuel ops.

      Turkish fund Oyak to buy Demiroren's auto fuel ops.

      Turkey's LPG imports down over 19.02% in June 2019

      Turkey's LPG imports down over 19.02% in June 2019

  • Energy Diplomacy
    • Energy Security
      Iran backs Assad regime by shipping 3M barrels of oil

      Iran backs Assad regime by shipping 3M barrels of oil

      Accident at atomic site 'nuclear terrorism': Iran

      Accident at atomic site 'nuclear terrorism': Iran

      South Sudan’s economy hit by drop in oil prices, floods

      South Sudan’s economy hit by drop in oil prices, floods

      Mozambican oil group seeks global help to fight terror

      Mozambican oil group seeks global help to fight terror

    • International Relations
      Uganda, Tanzania sign oil pipeline project agreement

      Uganda, Tanzania sign oil pipeline project agreement

      Iraqi PM makes first official visit to Saudi Arabia

      Iraqi PM makes first official visit to Saudi Arabia

      Leaders call for global unity to limit temperature rise

      Leaders call for global unity to limit temperature rise

      Sudan accepts UAE mediation over disputes with Ethiopia

      Sudan accepts UAE mediation over disputes with Ethiopia

    • International Organization
      Global oil demand to surge 6% in 2021: IEA

      Global oil demand to surge 6% in 2021: IEA

      2-month OPEC+ cuts rollover ‘best decision’: experts

      2-month OPEC+ cuts rollover ‘best decision’: experts

      Qatar Petroleum to solely own Qatargas 1 in 2022

      Qatar Petroleum to solely own Qatargas 1 in 2022

      Oil giants to convene for JMMC ahead of OPEC+ meeting

      Oil giants to convene for JMMC ahead of OPEC+ meeting

    • Energy Projects
      Oil prices up over OPEC+’s cautious output ease

      Oil prices up over OPEC+’s cautious output ease

      Siemens Energy signs long-term service deal with Aramco

      Siemens Energy signs long-term service deal with Aramco

      Qatar Petroleum to solely own Qatargas 1 in 2022

      Qatar Petroleum to solely own Qatargas 1 in 2022

      Iraq awards drilling of 96 oil wells to Schlumberger

      Iraq awards drilling of 96 oil wells to Schlumberger

  • World
    • Turkey
      Spot market natural gas prices for Wednesday, April 14

      Spot market natural gas prices for Wednesday, April 14

      Spot market electricity prices for Friday, April 16

      Spot market electricity prices for Friday, April 16

      Turkey's daily power consumption down 2.58% on April 14

      Turkey's daily power consumption down 2.58% on April 14

      Global oil demand to increase 6% in 2021: OPEC

      Global oil demand to increase 6% in 2021: OPEC

    • Europe
      LNG, Russian gas competition to continue in EU: Experts

      LNG, Russian gas competition to continue in EU: Experts

      Oil up over large fall in US stocks, positive forecasts

      Oil up over large fall in US stocks, positive forecasts

      Total, Siemens join forces to reduce carbon emissions

      Total, Siemens join forces to reduce carbon emissions

      Oil prices up on estimated fall in US crude stocks

      Oil prices up on estimated fall in US crude stocks

    • Eurasia
      LNG, Russian gas competition to continue in EU: Experts

      LNG, Russian gas competition to continue in EU: Experts

      Oil up over large fall in US stocks, positive forecasts

      Oil up over large fall in US stocks, positive forecasts

      Oil prices up on estimated fall in US crude stocks

      Oil prices up on estimated fall in US crude stocks

      Oil prices up on China's economic rebound signals

      Oil prices up on China's economic rebound signals

    • Asia
      Oil up over large fall in US stocks, positive forecasts

      Oil up over large fall in US stocks, positive forecasts

      Oil prices up on estimated fall in US crude stocks

      Oil prices up on estimated fall in US crude stocks

      Oil prices up on China's economic rebound signals

      Oil prices up on China's economic rebound signals

      Japan decides to release Fukushima wastewater into sea

      Japan decides to release Fukushima wastewater into sea

    • Americas
      LNG, Russian gas competition to continue in EU: Experts

      LNG, Russian gas competition to continue in EU: Experts

      Oil up over large fall in US stocks, positive forecasts

      Oil up over large fall in US stocks, positive forecasts

      US crude oil inventories fall for week ending April 9

      US crude oil inventories fall for week ending April 9

      Oil prices up on estimated fall in US crude stocks

      Oil prices up on estimated fall in US crude stocks

    • Middle East-Africa
      Oil up over large fall in US stocks, positive forecasts

      Oil up over large fall in US stocks, positive forecasts

      S. Arabia grants oil to Yemen to prevent power outages

      S. Arabia grants oil to Yemen to prevent power outages

      Oil prices up on estimated fall in US crude stocks

      Oil prices up on estimated fall in US crude stocks

      Oil-rich Saudi Arabia branches into solar power

      Oil-rich Saudi Arabia branches into solar power

  • Reports
  • other
    • News from companies
    • Energy Meetings
    • Video
  • Anadolu Agency

BP posts $20.3 billion loss in 2020

- Despite huge loss in 2020, firm recorded $1.4 bln. profit in 4th quarter of 2020 compared to $0.5 bln. loss in 3rd quarter

home > Oil, News from companies, World 02.02.2021 15:02 Sibel Morrow

BP posts $20.3 billion loss in 2020

British energy giant BP reported a $20.3 billion loss in 2020, down from a $4 billion profit in 2019, driven by a challenging price environment and COVID-19 related demand impacts, according to its financial results statement released on Tuesday.

"2020 will forever be remembered for the pain and sadness caused by COVID-19. Lives were lost – livelihoods destroyed. Our sector was hit hard as well. Road and air travel are down, as are oil demand, prices and margins," BP's Chief Executive Officer Bernard Looney said.

Despite the huge loss in the full year of 2020, the company recorded a $1.4 billion profit in the fourth quarter of 2020 compared to a $0.5 billion loss in the third quarter.

The company's Chief Financial Officer Murray Auchincloss described the results as "strong progress", considering BP posted net losses of approximately $16.8 billion in the second quarter and $4.4 billion for the first quarter of last year.

The company explained that costs resulting from the novel coronavirus (COVID-19) outbreak reached around $0.4 billion for the full year of 2020.

In line with the company's net-zero ambition, Looney said BP set a new strategy to become an integrated energy company and created an offshore wind business in the US.

BP said it anticipates a normalization of the currently high oil inventory levels through 2021 with the help of limited growth from non-OPEC+ countries coupled with active market management from OPEC+.

The company expects a recovery in oil demand in 2021, however, it said the speed and degree of the rebound would depend on government policies and individual self-imposed actions as vaccine distribution proceeds.

Oil prices, which have risen since the end of October last year with the support of vaccine rollout programs and continued active supply management by OPEC+ countries, are expected to remain subject to the decisions of OPEC+, confidence in efforts to manage the rollout of vaccination and further virus control measures, BP said.

While the price of Brent crude averaged $41.84 per barrel in 2020, BP said it estimates the international benchmark would average $50 a barrel between 2021 and 2025, and then increase to an average of $60 a barrel between 2030 and 2040 before it drops to $50 a barrel again in 2050.

"BP now sees the prospect of an enduring impact on the global economy as a result of the COVID-19 pandemic, with the potential for weaker demand for energy for a sustained period," the company said.

The company also explained that it expects an acceleration in the pace of transition to a lower-carbon economy and energy system in the aftermath of the pandemic, as countries seek to "build back better" so their economies will be more resilient in the future.

By Sibel Morrow

Anadolu Agency

energy@aa.com.tr


related news

Revenues of oil giants decline 35.4% in 2020
Yellen: Rapid vaccination to help US economic recovery
EU foreign policy chief highlights dialogue with Turkey
BP plans UK’s largest hydrogen project
No return to ‘normal’ for post-Covid oil markets: IEA
Turkey's position on E. Med remains unchanged: Erdogan
Facebook Facebook Twitter Google LinkedIn

Shell plans 5% annual decline in oil output

- Firm announces 2021 energy transition strategy includes gradual 1-2% drop per year in oil production investments up to 2030
16:02 Natural Gas , Oil , News from companies , World

Oil up over large fall in US stocks, positive forecasts

- US commercial crude oil inventories fall more than market expectation by 1.2%, signaling oil demand recovery in country
16:02 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

US crude oil inventories fall for week ending April 9

- Commercial crude oil stocks decrease by 5.9 million barrels, higher than market expectation of 2.1 million-barrel draw
16:02 Oil , Americas

S. Arabia grants oil to Yemen to prevent power outages

- Yemen struggles with frequent power outages due to depletion of diesel fuel used in power plants
15.04.2021 Electricity , Oil , Middle East-Africa

Global oil demand to surge 6% in 2021: IEA

- Global oil demand revision supported by improved IMF outlook, swift US vaccine rollouts and better economic data in China
15.04.2021 Oil , International Organization , World

Oil prices up on estimated fall in US crude stocks

- Weaker dollar also exerts upward pressure on oil prices which are indexed to US dollar
15.04.2021 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Oil prices up on China's economic rebound signals

- Rising tensions between Saudi Arabia, Yemen contribute to more bullish oil prices
13.04.2021 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Brent leaps over alleged attacks on Aramco facilities

- Tensions in region were already heightened after cyber-attack on Iran’s main nuclear facility on Sunday
13.04.2021 Oil , World , Middle East-Africa

Iran backs Assad regime by shipping 3M barrels of oil

- Shipment of over 3 million barrels of oil is estimated to meet needs of regime-controlled areas suffering from fuel crisis
13.04.2021 Oil , Finance , Energy Security , Middle East-Africa , General

Oil down over demand fears as India’s virus cases surge

- Country confirms new single-day record with nearly 169,000 cases
13.04.2021 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Uganda, Tanzania sign oil pipeline project agreement

- 1,440 km crude oil pipeline will be constructed from Uganda's Albertine region to Tanzanian seaport of Tanga
12.04.2021 Oil , International Relations , Middle East-Africa

Aramco signs $12.4B infrastructure investment deal

- Newly-formed Aramco subsidiary, Aramco Oil Pipelines Company, will lease usage rights in Aramco’s stabilized crude oil pipelines network for 25-year period
10.04.2021 Oil , Middle East-Africa , General

Oil rig count in US remains unchanged this week

- Number of oil rigs stays at 337
13.04.2021 Oil , Americas , General

Oil prices down for week ending April 9

- Investors weigh rising supplies as weak demand outlook continues due to Covid-19
10.04.2021 Oil , World

Oil prices mixed over weaker dollar, rising supplies

- Prices still under pressure after major oil producers of OPEC+ agree to increase output after April
09.04.2021 Oil , World

Oil prices down over unexpected build in US fuel stocks

- Low demand concerns linger with US gasoline inventory rise of 4 million barrels last week
09.04.2021 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

US crude oil inventories fall for week ending April 2

- Commercial crude oil stocks decrease by 3.5 million barrels, higher than market expectation of 1.325 million-barrel draw
09.04.2021 Oil , Americas

Aramco in talks to sell over $10B oil pipeline stake

- Deal to transfer up to 49% share to consortium including US, Chinese and local investors could be announced this week
08.04.2021 Oil , Middle East-Africa

US energy agency revises up its oil price forecast

- International benchmark Brent crude is now estimated to average $62.28 per barrel in 2021
08.04.2021 Oil , Americas

Oil prices up on strong economic outlook, stock draw

- American Petroleum Institute estimates more-than-expected inventory draw of 2.618 million barrels for week ending Apr. 2
08.04.2021 Oil , World , Americas , Middle East-Africa

Oil prices up with strong economic data from US, China

- Upward price trend pushed back by OPEC+' decision to ease output and on indirect talks between US and Iran in Vienna
07.04.2021 Oil , World

Oil prices up due to positive market perception: Experts

-Markets welcome OPEC+ decision to gradually increase production as move perceived as ‘demand recovery’, not 'output rise’
06.04.2021 Oil , Finance , World

Oil prices slip with demand curbed from virus concerns

- Millions of Christians celebrated Easter under restrictions and limited gatherings, raising oil demand concerns
06.04.2021 Oil , World

Suez Canal traffic jam cleared, says Egypt

- Last batch of 61 vessels successfully crossed waterway on Saturday, according to head of Suez Canal Authority
04.04.2021 Oil , Transportation/Fuel Oil , World , Middle East-Africa

US oil rig count rises by 13 for week ending April 2

- This marks drop of 225 in number of US oil rigs compared to one year ago
05.04.2021 Oil , Americas , General

Oil prices up by over 2% for week ending April 2

- Cautious OPEC+ output decision and fall in US oil inventories support rise of oil prices
03.04.2021 Oil , Upstream , Refining/Petro Chemistry , Transportation/Fuel Oil

Oil prices up over OPEC+’s cautious output ease

- Rapid increase in Eurozone manufacturing sector's PMI in March also reflects positively on oil prices
03.04.2021 Oil , Refining/Petro Chemistry , Stock Market , Energy Projects

South Sudan’s economy hit by drop in oil prices, floods

- $174.2M IMF loan to help stabilize exchange rate, prices, says central bank governor
03.04.2021 Oil , Energy Diplomacy , Energy Security , Middle East-Africa

OPEC+ agrees to gradually ease output from May to July

-Saudi Arabia's cuts will phase out by raising output by 250,000 bpd in May, 350,000 bpd in June and 400,000 bpd in July
02.04.2021 Oil , World , Middle East-Africa

OPEC+ meeting begins with cautious optimism

- Saudi energy minister warns OPEC+ should maintain cautious stance until evidence of recovery is undeniable
02.04.2021 Oil , World

Oil up ahead of OPEC+ decision on output level

- Group is scheduled to meet later on Thursday
01.04.2021 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

US crude oil inventories fall for week ending March 26

- Commercial crude oil stocks decrease by 900,000 barrels, higher than market expectation of 400,000-barrel rise
02.04.2021 Oil , World , Americas

Mozambican oil group seeks global help to fight terror

- Attacks in southern African country meant to disrupt investment in oil and gas projects, says group
01.04.2021 Oil , Energy Security , Middle East-Africa

2-month OPEC+ cuts rollover ‘best decision’: experts

- Any easing of cuts can weigh on prices especially if not matched by demand recovery, says Crystol Energy CEO Carole Nakhle
01.04.2021 Oil , International Organization , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Oil up over hopes of extension of current output cuts

- Scheduled to meet on Thursday, OPEC+ will decide whether to either keep or ease current production cuts further after April
01.04.2021 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Turkey's energy import bill down 12.2% in February 2021

- Last month, overall energy imports fall due to rise in country's domestic and renewable energy production
01.04.2021 Natural Gas , Oil , Turkey

Oil prices slip due to uncertainty ahead of OPEC+ meet

- Investors are cautious before OPEC+ meeting although experts say output rise is unlikely with more Covid-19 cases in Europe
31.03.2021 Oil , World , Turkey , Europe , Eurasia , Asia , Americas , Middle East-Africa

Oil giants to convene for JMMC ahead of OPEC+ meeting

-Conformity levels to OPEC+’s voluntary production adjustments and global market conditions will be discussed during meeting
31.03.2021 Oil , International Organization , World , Turkey , Europe , Eurasia , Asia , Americas , Middle East-Africa

Traffic in Suez Canal back to normal: Official

-Announcement follows reports that strong winds drove ship stranded in Suez Canal back to previous position
30.03.2021 Oil , Turkey

Oil down as Suez Canal re-opens after six-day blockade

- Further declines were limited as investors are hopeful of reasonable market management by OPEC+
30.03.2021 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Suez closure shows Asia’s reliance on Eastward oil flow

- Reason for increasing oil imports into East of Suez is region's growing refining activity, International Energy Agency says
29.03.2021 Oil , International Organization , World , Middle East-Africa

Indonesia's Balongan refinery rocked by massive blast

- At least 20 injured, serious material damage reported
29.03.2021 Oil , Upstream , Asia

Libya says oil spill brought under control

- Oil production operations in northern Dahra oilfield not affected, according to National Oil Corporation
29.03.2021 Oil , Middle East-Africa

Turkey's oil imports down 24.7% in January 2021

- Output of oil refinery products decreases by 8% to 1.96 million tonnes in January this year
29.03.2021 Oil , World , Turkey

US oil rig count rises by 6 for week ending March 26

- This marks drop of 340 in number of US oil rigs compared to one year ago
28.03.2021 Oil , Americas , General

Brent oil price down 0.91% for week ending March 26

- Prices in downward trajectory with third Covid wave concerns and more-than-expected build in US crude inventories
27.03.2021 Oil , World

Oil up as Suez Canal blockage fuels supply worries

- Efforts to free container ship, Ever Given, are expected to take weeks, says Suez Canal authorities
26.03.2021 Oil , World

Revenues of oil giants decline 35.4% in 2020

- Royal Dutch Shell records highest year-over-year decline in revenue
27.03.2021 Oil , World

Oil, gas still relevant alongside renewables: S. Aramco

- Cleaner gas, including Blue Hydrogen and Blue Ammonia, will be area of growth for company, says head of upstream business
26.03.2021 Natural Gas , Oil , Renewable , World

US thanks Yemen for easing oil blockade on Hudeydah

- Secretary of State Antony Blinken thanks Yemeni premier for 'efforts to ease the suffering of Yemenis'
26.03.2021 Oil , Energy Security , Middle East-Africa

OPEC+ caution likely with recent oil price losses

- OPEC+ boost needed at end of month to curtail oil price losses in March, expert says
26.03.2021 Oil , World

Oil down with US oil stocks rise, demand fears in Europe

-Weighing on prices, US crude inventories surge by 1.9 million barrels relative to market expectation of 900,000-barrel build
26.03.2021 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

US crude oil inventories rise for week ending March 19

- Commercial crude oil stocks increase by 1.9 million barrels, higher than market expectation of 900,000-barrel rise
25.03.2021 Oil , Americas

Suez Canal route opening assures crude tankers safety

- Rescue efforts continue to float Panamanian container ship that is blocking traffic in one of world's busiest trade routes
25.03.2021 Oil , Energy Security , Middle East-Africa

Iraq awards drilling of 96 oil wells to Schlumberger

- Schlumberger bid for drilling work accepted at 14.4% less than forecast price of $561 million
25.03.2021 Oil , Energy Security , Energy Projects , Middle East-Africa

Oil prices rise after sharp declines over demand fears

- Rising coronavirus cases in European countries followed by mitigation measures dampen hopes of oil demand recovery
25.03.2021 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Oil down over fears of stalled demand from lockdowns

- Several European countries raise containment measures amid third wave of virus surging across continent
23.03.2021 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Oil down as rising virus cases caps demand rebound hopes

- EU countries, including Germany and Belgium, plan to further increase restrictions against virus
23.03.2021 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Saudi oil giant Aramco reports 44% profit slump in 2020

- Aramco's 2020 profits hit $49B compared to $88.2B in 2019
23.03.2021 Oil , Middle East-Africa

Kenya feels betrayed by Somalia over maritime dispute

- Maritime delimitation case between East African countries has already started at ICJ without Kenya’s participation
20.03.2021 Natural Gas , Oil , Middle East-Africa

Saudi Arabia contains fire at oil facility after attack

- Yemen's Houthi rebel group says earlier Aramco oil company targeted with 6 drones
21.03.2021 Oil , Middle East-Africa

US oil rig count rises by 9 for week ending March 19

- This marks drop of 346 in number of US oil rigs compared to one year ago
21.03.2021 Oil , Americas

Oil prices down over 8% for week ending March 19

- Having hovered between $68-70 a barrel, oil prices post sharp declines on the last day of week
20.03.2021 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Oil posts sharp decline over rising demand concerns

- Increasing virus cases and uncertainties around safety of vaccines put pressure on oil prices
20.03.2021 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

EU halts sanctions for more Turkish oil firm officials

- EU has frozen expansion of list of sanctions on officials of Turkish Petroleum Corporation, say EU diplomats
19.03.2021 Oil , Refining/Petro Chemistry , Energy Diplomacy , Energy Projects , Europe

Oil majors accelerate energy transition policies: Fitch

- European firms plan at least large emission reductions, while US peers focus on reducing emissions in upstream operations
20.03.2021 Oil , Transportation/Fuel Oil , Stock Market , Eurasia , Americas

Fitch raises oil price forecast due to stronger demand

- Brent oil price for 2021 is revised up to average $58 a barrel from $45 a barrel
19.03.2021 Oil , Stock Market , Energy Diplomacy , Energy Projects , Americas

21 US states sue Biden for revoking oil pipeline permit

- Revoking permit can 'only' be accomplished through bicameralism, lawsuit argues
18.03.2021 Oil , Americas

Oil prices down over rise in US crude oil inventories

- Probable disruptions in vaccine programs and prospects of new restrictions prove bearish for prices
18.03.2021 Oil , World

US crude oil inventories rise for week ending March 12

- Commercial crude oil stocks increase by 2.4 million barrels, slightly lower than market expectation of 2.7 million-barrel rise
18.03.2021 Oil , World , Americas

Global oil demand to surge 6% in 2021: IEA

- Stronger economy, vaccine deployment will support growth in second half of year, energy agency says
18.03.2021 Oil , International Organization , World

No return to ‘normal’ for post-Covid oil markets: IEA

- Global oil demand expected to incur irreversible damage due to ‘shifting policies, behavior changes, Energy Agency warns
18.03.2021 Oil , International Organization , World

Oil prices rise over unexpected fall in US stocks

- Delayed oil demand recovery fears weigh on prices as safety of COVID-19 vaccines is brought into question
18.03.2021 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Oil prices down over negative vaccine reports

- Several European countries halt use of AstaZeneca’s vaccine over reports of blood clotting cases
17.03.2021 Oil , World

Oil prices up over better economic data from China

-China's daily refinery output increased 15% in January and February, data from National Bureau of Statistics shows
16.03.2021 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

US oil rig count falls by 1 for week ending March 12

- This marks drop of 374 in number of US oil rigs compared to one year ago
15.03.2021 Oil , Finance , Americas , General

Oil prices down over 1% for week ending March 12

- Despite limited fluctuations, oil prices hover between $66-69 a barrel during week supported by tighter supply
15.03.2021 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Oil posts limited drop over vaccine uncertainties

- Some European countries halt use of AstraZeneca and Oxford University vaccines over reports of blood clotting issues
13.03.2021 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Global oil demand to increase 6.5% in 2021: OPEC

- Crude output rises mainly in Nigeria, Iraq, Iran, Venezuela and Libya but decreases in Saudi Arabia and Angola, says OPEC
13.03.2021 Oil , International Organization , World

Oil prices up as US economy shows positive signs

- Country’s consumer prices show 0.4% increase in February in line with economists’ expectations
12.03.2021 Oil , World

Eni, Var Energi announces oil discovery offshore Norway

- Preliminary estimates place size of discovery between 65 and 100 million barrels of oil equivalent
11.03.2021 Oil , Finance , Europe , General

US crude oil inventories rise for week ending March 8

- Commercial crude oil stocks increased by 13.8 million barrels, more than market expectation of 833,000-barrel draw
11.03.2021 Oil , Americas

Russia, Saudi Arabia to develop ties within OPEC+

- Foreign ministers of both major oil-producing countries show unified stance on cooperation at Wednesday's news conference
11.03.2021 Oil , International Organization , Europe , Asia , Middle East-Africa

US energy agency revises up its oil price forecast

- Brent to average $63 per barrel in first half of 2021 before declining to $58 per barrel for rest of year: EIA outlook
11.03.2021 Oil , International Organization , World

Oil down over expected rise in US stocks, rising dollar

- US crude oil inventories are forecast to rise by over 12.8 million barrels, API figures show
10.03.2021 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Oil up on projected economic recovery, inventory draw

- Oil prices retreat from $71 threshold on Tuesday after attacks on Aramco's oil facilities had no immediate impact on output
10.03.2021 Oil , World

Oil prices soar over attack on Saudi oil facilities

- Bullish oil prices also fueled more after Senate approval of much-awaited US relief bill
09.03.2021 Oil , World , Turkey , Europe , Eurasia , Asia , Americas , Middle East-Africa

US oil rig count rises by 1 for week ending March 5

- This marks drop of 372 in number of US oil rigs compared to one year ago
09.03.2021 Oil , Americas

Brent hits $69 over OPEC+ supply cut decision

- Positive outlooks over oil demand recovery with easing concerns for oversupply main drivers of oil prices
07.03.2021 Oil , World

Oil prices up over 4% for week ending March 5

- Prices rise on back of OPEC+ decision to maintain rather than raise output cuts for April
06.03.2021 Oil , World

Oil prices to rise to $75 per barrel in April: WoodMac

- Saudi Arabia's adamant stance not to raise production before seeing actual recovery helps prices, says consultancy
06.03.2021 Oil , World

OPEC+ meeting highlights Saudi's leadership

- Group, except for Russia and Kazakhstan, will continue production cuts for April
08.03.2021 Oil , International Organization , World

Oil up as OPEC agrees roll over of output cuts in April

- Rising value of dollar also exerts downward pressure on oil prices which are indexed to US dollar
05.03.2021 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

OPEC+ agrees to extend output cuts for another month

- New production scheme again includes output rise exemption for Russia and Kazakhstan
07.03.2021 Oil , International Organization , World

OPEC+ meets to discuss production quota after March

- Group is currently imposing 8.05 million bpd output cuts, including 1 million bpd of additional cuts from Saudi Arabia
05.03.2021 Oil , World

Oil up as OPEC+ expected to keep output cuts unchanged

- Prices soar despite highest-ever increase in US crude oil inventories since 1982
04.03.2021 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

US oil inventories mark largest weekly rise since 1982

- Commercial crude oil stocks rise by massive 21.6 million barrels, smashing market expectation of 1.9 million-barrel draw
05.03.2021 Oil , Americas

Oil sector job losses expected post-COVID: Aramco chief

- Covid-19 exposed harsh realities for world, says Amin Nasser during virtual CERAWeek panel
04.03.2021 Oil , News from companies , World

OPEC+ meeting to test ability to keep market tight

- Amid concerns of group's likely decision to raise output, experts say meeting will also reflect group’s strength, coherence
04.03.2021 Oil , World , Turkey , Europe , Eurasia , Asia , Americas , Middle East-Africa

ExxonMobil plans reduction of staff in Singapore

-Company will slash up to 300 jobs, representing approximately 7% of company’s more than 4,000 employees in Singapore
04.03.2021 Oil , News from companies , World , Americas
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11

  • BP posts $20.3 billion loss in 2020
1 / 1

BP posts $20.3 billion loss in 2020

  • up
Anadolu Agency

Corporate

  • History
  • Editorial Guideliness
  • Social Media Policies
  • Executive Team
  • Domestic Offices
  • International Offices
  • Media Center
  • Contact
  • Quality Management
  • Privacy and Cookies Policy
  • Information Policy
  • Diary
  • Coronavirus Infection Map
  • Subscription Requests
  • Announcement Service

  • Company News
  • Finance Terminal
  • Anadolu Images
  • Energy Terminal
  • News Academy

mobile services

  • IPhone Application
  • IPad Application
  • Android Application
  • Windows Application
We use cookies in a limited and restricted manner for specific purposes. For more details, you can see "our data policy".
Accept
© Anadolu Agency 2021