Total, which has been investing heavily in buying renewable energy assets, said it planned to change its name to TotalEnergies, reflecting its bid to pivot away from its dependence on oil and gas.
Liberty Oilfield Services said it expects to maintain about 30 active hydraulic frac fleets in the first quarter of 2021, with the possibility of adding more later in the year if economic conditions improve.
Shell, however, said it planned to raise its dividend in first-quarter 2021, which would be the second slight increase since its slashed its payout by two-thirds at the start of last year due to the pandemic.
Resurgence of COVID-19 crimped economy and demand in the fourth quarter.
Magellan Midstream also reported lower volumes and average rates on its crude oil pipelines, in part because several of contracts on the Longhorn pipeline, which flows from the Permian Basin to Houston, expired.
A board change failed to mollify critics who want Texas-based Exxon Mobil to overhaul itself by focusing more on clean energy to improve its financial performance.
Texas-based oil major Exxon Mobil Corp. on Feb. 2 posted its first annual loss as a public company amid “the most challenging market conditions Exxon has ever experienced,” CEO Darren Woods says.
ConocoPhillips set a $5.5 billion spending budget for 2021, much of which will be used to sustain current production.
BP's shares have lost over 40% of their value over the past year and remain near 25-year lows, battered by concerns over oil demand due to the pandemic and its ambitious plan to shift away from fossil fuels to renewable energy.