BP announced it will cut about 15% of its workforce in response to the coronavirus crisis and as part of Chief Executive Bernard Looney’s plan to shift the oil and gas major to renewable energy

Brazil’s state-run oil company reported a steep net loss for the first quarter of the year and warned more heavy losses were on the horizon because of the coronavirus pandemic

Energy giant Saudi Aramco posted a 25% slump in first-quarter profits and said the coronavirus crisis which triggered a crash in oil prices would weigh heavily on demand in the year ahead

The Saudi Arabia energy ministry has directed Aramco to reduce its crude oil production for June by an extra voluntary amount of 1 million barrels per day, on top of the reduction already committed under the OPEC+ deal

Total announced its quarterly profit fell by 99% because of dropping oil prices and announced it would slash investments in response to ongoing turmoil in crude markets

YPF’s Board of Directors appointed Sergio Affronti as its new CEO, a businessman from the province of Mendoza that counts with a 27-yr career in the national and global industry of hydrocarbons

Shell also suspended the next tranche of its share buyback programme and said it was reducing oil and gas output by nearly a quarter after its net profit almost halved in the first three months of 2020

Venezuelan President Nicolás Maduro appointed his economy vice president as interim oil minister and also replaced the head of the state oil company PDVSA

The British giant said it slumped into a u$s4.4-billion net loss in the first quarter as the coronavirus pandemic crushed demand for oil. “Our industry has been hit by supply and demand shocks on a scale never seen before,” BP’s CEO stated

Anglo-Dutch oil giant Royal Dutch Shell pledged to become carbon neutral by 2050, matching a commitment by rival BP as climate change looms large over the energy sector