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Venture Global lost a dispute with BP involving the sale of liquefied natural gas cargoes, a surprise defeat that comes eight weeks after Venture prevailed in a similar fight with Shell.

Chevron, ConocoPhillips and BP are among major oil companies that announced thousands of job cuts in recent months as crude prices fell this year in response to increased supplies from OPEC.

Rising consumption in emerging markets, sluggish energy efficiency gains, geopolitical tensions and the persisting use of petrochemicals all point to peak demand in 2030 at the earliest.

BP appointed former CRH CEO Albert Manifold as its new chairman, replacing Helge Lund amid pressure for a change in the company’s direction from shareholder Elliott Investment Management.

Shell denied a Wall Street Journal report that it is in active talks about acquiring its London-based oil rival BP.

BP's Castrol lubricant business is attracting interest from Reliance Industries, Apollo Global Management and Lone Star Funds, as well as Saudi Aramco.

Bloomberg reported that Shell is working with advisers to evaluate a potential acquisition of BP, its U.K. rival.

Speakers agreed that biodiesel, renewable diesel, renewable natural gas, hydrogen and battery-electric are all important to reducing emissions.

Shell Plc CEO Wael Sawan said the UK energy company will continue to look for potential acquisitions but warned of the risks inherent in pursuing a major deal.

BP said Apollo-managed funds will purchase a 25% noncontrolling stake in BP Pipelines for about $1 billion, marking the British energy giant’s first divestment under its turnaround plan.