JP Morgan – Page 2 – Oil & Gas 360

JPMorgan pledges $2.5 trillion over the next decade toward climate change

April 15, 2021

CNBC JPMorgan Chase said Thursday it will commit more than $2.5 trillion over the next decade toward long-term solutions that tackle climate action and contribute to sustainable development. Within the initiative, $1 trillion is earmarked for green projects, including renewable energy and clean technologies that are focused on speeding the transition to a low-carbon economy. The $2.5 trillion target, which

Sustained higher oil prices to spur U.S. output growth: JP Morgan

March 12, 2021

Reuters LONDON – Sustained higher oil prices are expected to spur higher U.S. oil output this year, JP Morgan analysts said in a weekly note. “At current prices, most U.S. onshore operators are economic, leaving a vast group of operators, from large public companies to private players, in good position to ramp up activity in 2H21 and build solid momentum

JPMorgan’s Wall Street chief gives his call for the stock market, SPACs, fintech and CEO succession

February 9, 2021

CNBC If anybody on Wall Street is due a victory lap, it’s Daniel Pinto. The head of JPMorgan Chase’s massive corporate and investment bank is fresh off a year for the record books: Pinto’s business produced $49.3 billion in revenue and $17.1 billion in profit in 2020, more earnings than JPMorgan’s three other divisions combined. But Pinto, who is one of two

Repsol hires JPMorgan to spin off renewables unit, El Confidencial reports

February 3, 2021

Reuters MADRID – Spanish oil and gas company Repsol has hired JPMorgan as an investment bank to spin off its renewable unit as early as June, Spanish on-line media El Confidencial reported on Wednesday citing financial sources. The Spanish company is considering listing the unit, which could be worth as much as 4 billion euros ($4.81 billion) on the stock

J.P. Morgan turns positive as Exxon cuts win back Wall Street

January 13, 2021

Reuters J.P. Morgan was the latest major U.S. investment bank to turn positive on Exxon Mobil on Wednesday, just months after its removal from the blue-chip Dow Jones Industrial Average capped a catastrophic year for America’s major oil producers. The shift to an “overweight” rating by the bank was the first time in seven years that J.P. Morgan had outright

JPMorgan becomes first major bank to say first-quarter GDP will decline because of Covid surge

November 20, 2020

CNBC JPMorgan economists now see an economic contraction in the first quarter due to the spreading coronavirus and related restrictions being imposed by states and cities. The new forecast is a departure from Wall Street’s widely held view that the first quarter would be positive, with an improving economy throughout 2021. The JPMorgan economists said they expect the economy to

J.P. Morgan settles lawsuit that accused firm of ‘spoofing’ precious metals markets trades

September 29, 2020

CNBC J.P. Morgan Chase has quietly settled a long-running lawsuit that accused the bank of manipulating precious metals markets with “spoofing” trades. And the bank is set to pay $920 million to resolve government investigations for similar alleged conduct in the precious metals and Treasury futures markets, CNBC has learned. A penalty of that size would be a record for spoofing,

Jamie Dimon says he’s OK with higher taxes on the rich, but wealth tax is ‘almost impossible’

September 23, 2020

CNBC SINGAPORE — J.P. Morgan Chase’s Chief Executive Jamie Dimon said he’s not against higher taxes on the rich, but a wealth tax is not the way to do it. “A wealth tax is almost impossible to do,” he told CNBC-TV18 at the J.P. Morgan India summit on Tuesday when he was asked whether he’s in favor of such a proposal put forth by

Morgan Stanley not given advisory role on Aramco pipeline sale: sources

May 28, 2020

Reuters LONDON/DUBAI – Morgan Stanley (MS.N) has not been given an advisory role on the potential sale of a stake in Saudi Aramco’s pipeline business, a deal worth over $10 billion, two sources told Reuters. The U.S. investment bank, which has previously advised the world’s largest oil company, was originally looking to be part of the advisory group on any

Traders Beware: U.S. taps new tools to find fraud in volatile commodities market

May 21, 2020

Reuters WASHINGTON – When the U.S. Department of Justice charged a handful of JP Morgan Chase & Co (JPM.N) traders in 2018 and 2019 with alleged commodities futures manipulation, it wasn’t the first time the government had probed the bank’s metals trading activities. The Commodity Futures Trading Commission (CFTC) investigated the same business as part of a similar probe of

Coronavirus-earnings season: What to expect as companies begin to report Tuesday

April 13, 2020

CNBC JPMorgan Chase kicks off earnings season on Tuesday. The bad news: Short-term guidance will be very ugly. But there’s some good news: 1) The Securities and Exchange Commission has told corporations that this earnings season is not routine and has encouraged companies to provide forward-looking guidance, and not be concerned that the information may change rapidly. This will make

JAMIE DIMON WARNS: We’re getting a ‘bad recession’ plus ‘financial stress’ like the 2008 crisis

April 6, 2020

CNBC JPMorgan Chase chief Jamie Dimon said Monday he expects the coronavirus crisis to include a “bad recession” and elements of financial strain similar to the 2008 downturn. The chairman and CEO of the biggest U.S. bank said that while JPMorgan entered the crisis from a position of strength and that lenders have prepared for this, the pandemic is playing out in

Premium Content