Shell said it would postpone the project to provide subsea compression at Ormen Lange, Norway’s second-biggest gas field, because costs have soared and the technology is uncertain. Photograph: Simon Dawson/Bloomberg

Royal Dutch Shell has dropped an innovative project to provide compression for a major Norwegian gas field without the need for a platform, dea(...)

Takeda Pharmaceutical’s shares fell as much as 8.8 per cent to an eight-month low in Tokyo trading today after the US federal jury verdict. Photograph: Kiyoshi Ota/Bloomberg

Takeda Pharmaceutical said it would contest $6 billion in punitive damages imposed by a US federal jury in a case alleging Japan’s largest drug(...)

Total will join other majors, ExxonMobil, Statoil and Royal Dutch Shell, to develop Russian shale oil, a key driver in Moscow’s efforts to at least maintain its oil output at more than 10 million barrels per day.  Photograph: Fabrice Dimier/Bloomberg

French oil major Total has secured the rights to explore three hard-to-recover oil blocks in West Siberia, according to a statement on the webs(...)

 Exxon Mobil’s biggest international exploration opportunity may be imperilled by Russian President Vladimir Putin’s Ukrainian foray, as US-based companies could face restrictions on doing business in Russia. Photograph: Reuters/Alexei Druzhinin

The market in Dublin treaded water yesterday as European stocks were little changed generally, after rallying on (...)

Profits at oil giant BP have fallen from $3.9bn to $2.8bn. Photo: Bloomberg

BP, Europe’s second-largest oil company, said fourth-quarter profit fell from a year earlier as output declined and refining margins weakened. The oil(...)

Hassan Rouhani, Iran’s president,  leaves a session on the opening day of the World Economic Forum  in Davos, Switzerland, today.  Photograph: Jason Alden/Bloomberg

Iranian president Hassan Rouhani said today it was possible to turn more than three decades of enmity with the US into friendship if both sides made a(...)

European negotiators, hoping to cut fuel bills, are pressing their US counterparts in Washington this week on including energy exports in a transatlan(...)

Myles Lee, chief executive of CRH.  The company had a poor day on the Dublin stock exchange yesterday. Photograph: Alan Betson / The Irish Times

Stocks were generally a touch stronger yesterday, as investors took comfort from Federal Reserve nominee Janet Yellen’s comments on taking care not to(...)

Chevron says net second-quarter income fell to $4.95 billion compared with $5.25 billion a year earlier, as  Chevron shares fell the most in a month yesterday.

Chevron, the second-largest US energy producer by market value, has reported profit that missed analysts’ estimates for a second straight quarter as s(...)

Exxon and other large oil companies struggling to boost production in recent years have spent heavily on new projects. In the first nine months of this year, Exxon alone spent $33 billion.

Exxon Mobil, the world’s largest publicly traded oil company, has reported higher-than-expected quarterly results as output rose for the first time in(...)

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