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 …
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
(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 …
(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 …
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
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.…
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 Exxon, Occidental and Marathon Petroleum, shut down production at
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 …
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 …
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 …
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,
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
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 …
