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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...
...The oil supermajor has persisted with the lawsuit in US federal court even after the duo withdrew their proposal....
...Investors have seen Abel as a strong operator of Berkshire’s underlying businesses, helping improve margins and profitability at the company, a point Buffett credited him with on Saturday....
...Stone, the longtime shareholder at Glenview Trust, said that when Buffett’s grip on the company was one day released, it would be like “passing the Rubicon”....
...In 2021, Munger was the first person to let slip that Abel would ultimately run Berkshire....
...At the AGM on Saturday, Buffett gave his most direct answer yet on how responsibilities will be doled out among the small executive team that will one day lead the company, handing Abel responsibility for...
...These US oil companies enjoy no such protection and will be held to account,” Gross said....
...As a major shareholder in US oil producers Chevron and Occidental, Berkshire has benefited from an emerging argument, since the energy crisis generated by Russia’s full-scale war on Ukraine, that weaning...
...Companies would have no easier ride convincing them stateside....
...Abel, who rose through the ranks at Berkshire’s energy division, declined to comment. Buffett did not respond to a request for comment....
...Simons summed up his career at a 2022 event organised by the Abel Prize for mathematics: “I did a lot of math, I made a lot of money, and I gave almost all of it away.”...
...BP’s shareholders are expecting the company to further soften its climate-related oil and gas production targets....
...He also revealed he had sold a “substantial part” of the company’s oil inventories and used the cash as general funds, even though it was the subject of inventory financing agreements with banks....
...The UK-listed energy company maintained the pace of its share buyback scheme at $1.75bn for the quarter and promised to make at least $2bn of cost savings by the end of 2026....
...That reflects the explosive rise of American shale oil production and renewable energy....
...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]....
...But Equinor is still first and foremost an oil and gas company....
...As a result of higher prices, 2022 was the most profitable year on record for publicly traded US oil companies....
...One thing to start: US regulators are poised to approve ExxonMobil’s $60bn acquisition of Pioneer Natural Resources on condition that the smaller oil company’s former chief executive does not join the supermajor...
...And when asked about Rio Tinto’s commitment to achieve net zero by 2050, he responded that the company was “not in coal, not in oil and gas”. It was a telling comment for Australian shareholders....
...But, almost a quarter of a century later — a period that included 18 of the 19 hottest years on record — can the company’s more modest aim of cutting oil and gas production by 25 per cent between 2019 and...
...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....
...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....
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