Ron Bousso

LONDON, October 25 - Energean added a second unit of oil production to a production vessel that is floating off Israel. This will boost the crude production by as much as two-thirds over the next few months, according to an industry source.

BP on Tuesday reported higher-than-expected third quarter profits of $2.3 billion, their lowest in almost four years, weighed down by a drop in refining profits and weaker oil trading.

A BP petrol station in Kloten, Switzerland, on Oct. 3, 2017. Arnd Wiegmann/Reuters Log in or create a free account to listen to this article.

The decline was smaller than expected amid a slowdown in global economic activity and demand

Global refining margins are dismal as global oil demand growth remains below average due to sluggish economic activity in China, BP CEO Murray Auchincloss said on Tuesday.

By Sabrina Valle, Ron Bousso and Marianna Parraga HOUSTON (Reuters) - Five years ago, Chevron CEO Michael Wirth won Wall Street acclaim as

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Along with a sharp drop in debt and strong cash flow, the results could lift investor confidence

Higher production and sales in Asia helped Shell's liquefied natural gas (LNG) business outshine TotalEnergies' in the third quarter, analysts and traders said, even as group profits at both were hit by a slump in oil refining. Shell reported quarterly profits of $6 billion, beating forecasts by 12%, while TotalEnergies' $4.1 billion profit slightly missed expectations. Both results were affected by 70% and 82% drops in profits from their oil refining and chemicals businesses, respectively, with the different performance of their LNG divisions standing out.

Higher production and sales in Asia helped Shell’s SHEL.L liquefied natural gas (LNG) business outshine TotalEnergies’ TTEF.PA in the third