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...This investor added: “Since Russia’s invasion of Ukraine, [oil companies] are seen as providing countries with energy security rather than being terrible companies polluting the world — and they have used...
...Shell sold millions of carbon credits tied to CO₂ removal that never took place to Canada’s largest oil sands companies, raising new doubts about a technology seen as crucial to mitigating greenhouse gas...
...The company submitted its plan to the UK Office for Nuclear Regulation two years ago....
...And it’s not just that we want to be buying back at a $90 or $85 oil price, we need to also think about how we can be buying back shares at $50 [oil]....
...Oil companies across the world have reported bumper profits over the past two years after Russia’s full-scale invasion of Ukraine drove a surge in the price of crude....
...Key economic and company reports Here is a more complete list of what to expect in terms of company reports and economic data this week....
...The US oil refiner Phillips 66 has become the latest target of Elliott Management after the activist investor took a $1bn stake and called for new blood on the company’s board to remedy “underperformance...
...Other companies: Eli Lilly, Coca-Cola, McDonald’s, PayPal, Marathon Petroleum, 3M, GE Healthcare, Archer Daniels Midland, Restaurant Brands and Molson Coors report earnings before the bell....
...Chesapeake declined to comment, while the other companies did not respond to requests for comment....
...But for Canada’s oil companies, it means diversifying sales that have long been yoked to refineries in US Midwest and Gulf Coast states....
...But Equinor is still first and foremost an oil and gas company....
...Clips from Al Jazeera, CBS, CNN For further reading: How US shale keeps sheltering America from the next oil price surge On markets and geopolitics, it is a mistake to forget about shale Why oil prices...
...Ithaca Energy has agreed a deal to acquire almost all of Eni’s UK oil and gasfields in a transaction worth about £750mn that will turn the London-listed company into one of the North Sea’s largest producers...
...Bringing this oil to market will cost billions of dollars. It may well sell down its stake to an international oil company....
...They argue that benefits from oil price movements since the start of the Ukraine war have generally accrued to the majors, which have diversified businesses, and trading companies....
...The plan had originally envisaged ¥25bn of operating profits by December 2023, but the company in fact made ¥54bn....
...Some of the world’s biggest investors including Norway’s oil fund and a Canadian pension giant have failed in a bid to push Samsung’s de facto holding company to increase dividends and share buybacks....
...Lawrence Summers, former Harvard president and ex-Treasury secretary, joined the advisory board of Palmetto, a clean energy technology company....
...“Mining companies are playing a constant game of chicken with each other,” said Larisa Yarovaya, associate professor of finance at the University of Southampton....
...Worse, banks have cut specialised loans to oil and gas companies as a direct result of the tax....
...But in the letter, the investors argued that the oil and gas company’s assertion that its targets were aligned with the Paris Agreement was “unfounded”, adding that the company’s directors would have supported...
...This includes investments in Canada’s Pembina Gas Infrastructure and ContourGlobal Plc, which has a thermal power plant division that utilises coal, gas and oil to generate electricity, it says....
...A dozen of the world’s biggest oil and gas companies are expanding a satellite monitoring campaign to detect methane emissions in emerging economies following detection of 26 large leaks of the planet-warming...
...The deal would make Ithaca one of the biggest independent oil producers in the North Sea and could spur further consolidation, as companies seek scale to fund investment and the cost of decommissioning legacy...
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