Royal Dutch Shell abandoned two oil projects off Kazakhstan after stubbornly high costs made them uneconomic. Shell has exited the Khazar field, while North Caspian Operating Co. — a joint venture including Shell — has quit the Kalamkas-Sea project, according to TOO PSA, an entity run by the Kazakh Energy Ministry. The retreat from the fields...

Global oil demand will plateau around 2030, according to a major new report, but the decline in demand is way too slow to head off the worsening effects of climate change. Oil demand begins to flatten out in the 2030s “under pressure from rising fuel efficiency and the electrification of mobility,” The International Energy Agency (IEA) said in...

For years, Big Oil played catch-up with the banking, e-commerce, and retail industries in embracing digitalization and new technologies to boost profits and efficiency. Over the past year, however, Big Oil and many companies in the upstream and downstream segments have started to adopt a growing number of digital solutions to seek cost cuts throug...