Post Tagged with: "big oil"

Source: Returns

Big Oil offers big returns but keeps spending tight

Yahoo Finance


LONDON – The West’s energy giants are set to return a record $30 billion to investors after reporting bumper profits in the second quarter of the year following a surge in energy prices.

 

But the top five …

Source: CNBC

Big Oil braces for shareholder revolt over climate plans in proxy voting season

CNBC


LONDON — Some of the world’s largest corporate emitters face the prospect of a shareholder rebellion this month, with climate-related votes poised to spike throughout the proxy season.

Oil and gas majors on both sides of the Atlantic are

Source: World Oil

Big Oil spends on investors, not output, prolonging crude crunch

World Oil


(Bloomberg) — Big Oil is raking in historic amounts of cash, but the windfall isn’t being invested in new production to help displace Russian oil and gas. Instead, executives are rewarding shareholders — setting the world up for …

Source: Reuters

Big Oil’s huge Russia writedowns eased by cash from $100 oil

World Oil


(Bloomberg) — Big Oil is walking away from tens of billions of dollars of Russian assets, but $100 crude is easing the sting.

The invasion of Ukraine forced the global supermajors to sever most of their ties with …

Source: Reuters

U.N. pact may restrict plastic production. Big Oil aims to stop it

US News


United Nations member states are set to meet this month in Nairobi to draft the blueprint for a global plastics treaty, a deal that could see countries agree for the first time to reduce the amount of single-use

February 18, 2022 - 1:30 pm Carbon Capture, Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

U.S. Congress Democrats grill Big Oil in climate deception probe

Reuters


WASHINGTON (Reuters) -The U.S. Congress on Thursday opened a year’s worth of investigations into whether Big Oil deceived Americans about its role in climate change, with Democratic lawmakers grilling the chiefs of four oil companies and two lobby groups.…

Source: Reuters

Big Oil hearing to kick off U.S. probe into climate disinformation -lawmaker

Reuters


WASHINGTON – A Congressional hearing this week into whether oil companies misled the public about climate change marks the start of a broad probe that may extend to other industries from advertising to social media, according to a lawmaker …

October 27, 2021 - 10:02 am Closing Bell Story‎, Crude Oil News, Energy News, Politics
Source: Reuters

Big Oil to attend U.S. House climate disinformation hearing

Reuters


WASHINGTON – Top executives from Exxon Mobil Corp, BP America, Chevron Corp and Shell Oil will testify on Oct. 28 at a congressional hearing examining whether the fossil fuel industry led an effort to mislead the public and prevent …

October 22, 2021 - 11:30 am Closing Bell Story‎, Crude Oil News, Energy News, Politics
Source: Reuters

What to expect as Big Oil reports second-quarter earnings

CNBC


LONDON — Oil and gas majors are likely to report bumper second-quarter earnings in the coming days, energy analysts have told CNBC, following a brutal 12 months by virtually every measure.

The expected upswing would build on a …

Source: Reuters

Analysis: Big Oil keeps brakes on spending even with crude rally windfall

Reuters


LONDON – Leading international energy companies are resisting the temptation to rush and spend an unexpected windfall from rallying oil and natural gas prices as they focus on longer-term energy transition challenges, executives and analysts said.

Benchmark crude oil …

Source: Reuters

Big Oil’s move to offshore wind risks inflating seabed prices – Orsted

Reuters


COPENHAGEN – The world’s largest offshore wind developer Orsted ORSTED.CO is concerned that Big Oil’s eagerness to harness wind at sea could push up prices for seabed leases, making the technology less competitive, its chief executive told Reuters.

European …

Source: Reuters

Big oil shareholders revolt over poor long-run returns: Kemp

Reuters


LONDON -Exxon Mobil’s shareholder revolt has been framed as a climate change issue, but it reflects broader dissatisfaction with the board’s strategy and failure to generate returns for shareholders in recent decades.

Many institutional investors are pressing the major …

Big Oil won’t become major investors in renewable technology even as investment soars, IEA analyst says

Big Oil won’t become major investors in renewable technology even as investment soars, IEA analyst says

CNBC


Oil companies will increase their investment in renewables over the coming years but won’t become major investors in the technology that underpins the sector, according to a lead author of the International Energy Agency’s Renewable Energy Market Update.

Speaking …

Source: CNBC

Big Oil and its green ambitions could be about to get a serious reality check

CNBC


LONDON — The month of May promises to be a ground-breaking one for Big Oil.

Oil and gas majors on both sides of the Atlantic are preparing to hold their annual shareholder meetings in the coming weeks. It comes …

Source: Reuters

World’s top emitters a long way from aligning with climate goals

Reuters


LONDON – The world’s biggest carbon-emitting companies are far from aligning with the Paris Climate Agreement, a report by the leading climate-focused investor group showed on Monday.

Climate Action 100+, whose 575 members manage $54 trillion in assets, was …

Source: CNBC

The future of Big Oil flaring in the Permian Basin and the climate challenge

CNBC


When a raging snowstorm and frigid temperatures hit Texas last month, oil and gas behemoths responsible for producing and processing the lion share of the nation’s reserves, including ExxonOccidental and Marathon Petroleum, shut down production at

Source: Reuters

Big Oil CEO says going green ‘will have a cost for everybody’ — and governments need to explain that

CNBC


LONDON — The chief executive of French oil major Total called on governments to explain the cost of carbon neutrality pledges, urging policymakers to make the “affordability” of an energy transition clear to everybody.

His comments come at a

Source: CNBC

An industry ‘operating on borrowed time’: Energy experts on the increasing risks ahead for Big Oil

CNBC


LONDON — Big Oil endured a brutal 12 months by virtually every measure last year and the global oil and gas industry faces significant challenges and uncertainties as it seeks to recover.

In 2020, the coronavirus pandemic coincided with …

February 2, 2021 - 2:00 pm Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

Big Oil hits brakes on search for new fossil fuels

Reuters


LONDON – Top oil and gas companies sharply slowed their search for new fossil fuel resources last year, data shows, as lower energy prices due to the coronavirus crisis triggered spending cuts.

Acquisitions of new onshore and offshore exploration …

Source: CNBC

Big Oil execs say they’re not worried about Biden’s energy plan, hope to ‘get his staff on board’

CNBC


LONDON — The prospect of a Joe Biden presidency and the most progressive climate strategy the U.S. has ever attempted is not something that should concern the energy industry, oil and gas executives have told CNBC.

Instead, they hope …

Source: Reuters

Big Oil shares capitulate to COVID, lower carbon doubts

Reuters


LONDON – Royal Dutch Shell RDSa.L and BP BP.L have lost over half of their market value so far this year, with both shares hitting 25-year lows this week, battered by weak oil prices and investor concerns over their …

Source: CNBC

The coronavirus pandemic is debunking some long-held myths of the energy industry

CNBC


The coronavirus pandemic has exposed some hard truths to the world’s largest oil and gas majors, energy analysts have told CNBC, with many reeling after historic second-quarter losses laid bare the financial frailty of the industry.

“Big Oil” companies,

Source: Reuters

Big Oil braces for second-quarter losses after virus whips up perfect storm

Reuters


LONDON – Top U.S. and European oil and gas companies are forecast to swing into a second quarter loss after coronavirus lockdowns destroyed fuel demand, hit prices and squeezed margins, analysts said and Refinitiv Eikon data showed.

The expected

July 27, 2020 - 2:30 pm Closing Bell Story‎, Crude Oil News, Earnings, Energy News
Source: Houston Chronicle

Big Oil shows new commitments to offshore African projects

Houston Chronicle


A bevy of Big Oil majors are making new commitments to developing oil and gas projects in West Africa, specifically in Senegal, Mauritania and Angola.

The British energy major BP said its three-well exploration campaign offshore of Senegal …