oil industry

Friday, October 23

Back to petroleum? Major oil companies cautious on renewables

Two decades ago, BP set out to transcend oil, adopting a sunburst logo to convey its plans to pour $US8 billion over a decade into renewable technologies, even promising to power its gas stations with the sun.

Santos records $1.4bn first-half loss

Santos has slumped to a $1.4 billion first-half loss but CEO Kevin Gallagher says he is confident the Adelaide energy giant is taking the right steps to become a “strong and sustainable” business.

Monaca, where UNAOIL is headquartered. Photo: AP/Lionel Cironneau

Investigation into "vast corruption" in oil industry

Monaco’s government is joining British investigators in unpicking “a vast corruption scandal” implicating an unspecified number of foreign oil companies.