Oil Price Following the signing of the Paris Agreement by 193 states and the EU and after the COP27 climate summit in 2021, several major financial institutions came under fire for their continued support of fossil fuel companies. As governments worldwide introduce new climate policies and put pressure on oil and gas firms to improve operations and curb their carbon
World Oil (Bloomberg) — Exxon Mobil Corp. is investing in a $29 billion project to boost Qatar’s gas exports, joining others including ConocoPhillips, TotalEnergies and Eni SpA. The US oil giant will take a 6.25% stake in the North Field East project — the biggest in the gas industry — that’s expected to start operating in early 2026. The expansion
CNBC The rotation out of technology may be facing yet another catalyst. If energy’s outperformance persists, it could force more investors to rebalance their portfolio, leaving tech behind in favor of the former laggard, Miller Tabak’s Matt Maley told CNBC’s “Trading Nation” on Tuesday. Oil prices fell Wednesday to around $62 a barrel after hitting two-month highs in Tuesday’s trade. “If you get
Reuters LONDON – Investors should not fund new oil, gas and coal supply projects if the world wants to reach net zero emissions by mid-century, the International Energy Agency (IEA) said on Tuesday, calling instead for a large expansion of renewable energy technologies. A global climate pact agreed in 2015 to cap the rise in temperatures to as close as
Reuters LONDON – Hedge funds continued buying oil last week, but the focus switched from crude to previously-neglected refined products, where cautious positioning and very low refinery margins may offer more upside potential. Hedge funds and other money managers purchased 28 million barrels in the six most important petroleum futures and options contracts in the week to July 21, adding
Financial Standard Oil and Gas Publishers Note: We are under unprecedented financial pressure in the energy markets, and we are seeing that ESG is playing a larger role than it ever has in history. Not only are investors looking at the ESG plans in place for corporations, the consumers are also reviewing external ESG messaging. The EnerCom Consulting Services group
Houston Chronicle WASHINGTON – The investment bank Goldman Sachs is committing to make available $750 billion over the next decade to invest in and finance cleaning up the energy industry, along with making farming more sustainable and reducing poverty, the company said Monday. In an op-ed in the Financial Times, Goldman CEO David Solomon wrote, “companies have traditionally treated sustainability
From BusinessDen Boulder’s David Cohen invested $50,000 in 2009 in what was then called “Ubercab.” This month, Uber went public at $45 per share, making that initial investment worth $248.3 million, according to analysis by The Wall Street Journal. Why he invested in Ubercab Cohen said he invested in Uber after meeting Ryan Graves, one of the company’s first employees, while Graves
Saudi Aramco and Total (ticker: TOT) have signed a memorandum of understanding to build a giant petrochemical complex in Jubail, Saudi Arabia. Located next to the SATORP refinery in the same industrial area, the complex will comprise a mixed-feed steam cracker (50% ethane and refinery off-gas) with a capacity of 1.5 million tons per year of ethylene and related high-added-value
Energen Corporation (ticker: EGN) released financial and operating results for the fourth quarter and calendar year ended December 31, 2017. “Over the last five years, the board and management have strategically divested non-core assets and transformed Energen into a low-cost Permian pure-pay with a strong foundation for profitable growth,” said CEO James McManus. “We begin 2018 with a portfolio of
IHS Markit has released a new study called, “A New Look: Extracting Value from the Canadian Oil Sands.” The report presents a post-oil price collapse update to a 2013 analysis on the economics of processing heavy oil in Alberta and other select jurisdictions. Bitumen-related problems: too heavy for pipelines Bitumen is the extra-heavy oil found in the oil sands. Making
CALGARY, ALBERTA–(Marketwired – May 31, 2016) Manitok Energy Inc. (the “Corporation” or “Manitok“) (TSX VENTURE:MEI) announces its financial and operating results for the first quarter of 2016 and provides an operational update. The full text of Manitok’s first quarter results are contained in its unaudited condensed interim financial statements as at and for the three months ended March 31, 2016 and
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