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...“It’s a natural evolution for oil companies....
...To achieve these goals, the lion’s share of these emission reductions will have to come from the shift from hydrocarbons to solar power....
...ExxonMobil in October announced a $60bn deal to buy Pioneer Natural Resources, the largest oil producer in Texas. Shortly afterwards, Chevron unveiled a $53bn acquisition of US oil company Hess....
...But an ill-timed move into oil ultimately led to its bankruptcy when the Covid-19 pandemic crushed fuel demand in 2020....
...The company said on Monday it had begun work to extract lithium from underground brines in the southern US state of Arkansas, where it has acquired the rights to 120,000 acres of land in the Smackover formation...
...No wonder: bean counters’ work seems dull compared with oil drillers or flamboyant bankers....
...That sort of leap leaves China accounting for the lion’s share of this year’s forecast world demand growth. The International Energy Agency puts it at 2.2mb/d....
...The oil and gas producer said it had begun work to extract lithium from underground brines in the southern US state of Arkansas where it has acquired the rights to 120,000 acres of land....
...So, for example, the government instead leaves in place windfall levies on the North Sea oil and gas industry (a key constituency of London-listed companies) and the highest transaction tax of any major...
...Business was ready for either Joe Biden or Trump: “My company will survive and thrive in both.” The US Chamber of Commerce has undergone a similar evolution....
...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 data showed that more than two-thirds of this — over $72bn — was channelled into renewable projects, with the lion’s share in Scotland....
...🎧 Behind the Money: A New York court recently ruled that Argentina must pay two former shareholders in an oil company $16bn....
...Johnson, a Louisiana congressman who has accepted more funding from oil and gas companies than any other sector, has a history of questioning the scientific evidence on climate change — and almost overnight...
...Biofuels helped avoid the use of 2mn barrels of oil in 2022, the IEA said, as countries with feedstock and spare capacity, such as Argentina, India and Indonesia, boosted production to bring down fossil...
...But soyabeans can also be used for a variety of oils and soy-based products, such as tofu....
...And one smart listen: The FT’s Myles McCormick joins the FT’s Behind the Money podcast to discuss why Big Oil is betting on a dealmaking frenzy. Listen here....
...“If western banks no longer finance Russian oil and gas business, then more lending is channelled into other industries and larger companies,” said Baptiste Audren, chief revenue officer at Komgo, a trade...
...We need more companies to join in that....
...Analysts there claim a supercomputer project at Tesla could add $10tn to the company’s total addressable market....
...US equity funds took the lion’s share, $38.6bn, with non-European investors starting “to meaningfully sell European equity ETFs over the summer”, Chedid said....
...“There’s something cold about a tube of oil paint bought from an art shop, but when you work with something someone has used, you feel you’re connecting with people,” he says....
...Shale companies have shifted away from using cash to fund aggressive new drilling campaigns towards handing the lion’s share back to shareholders through dividends and stock buybacks....
...The titular piece is a huge oil linen, and other works include equally large Surrealist landscapes....
...That means the lion’s share of cash will continue to go to the dividend programmes and stock buybacks that have helped drive share prices higher....
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