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...Texas, the leading US oil-producing state, has declared Climate Action 100+ to be anti-oil and blocked financial companies, including BlackRock, from doing business with the government....
...It comes as North Sea producers are seeking scale to help fund investment and decommissioning costs....
...It previously warned that it would have to defer or cancel investment, and produce less oil....
...His views are significant as the oil fund is one of the largest single investors in the world, owning on average 1.5 per cent of every listed company globally and 2.5 per cent of every European equity....
...The revision comes after the company pledged to devote a higher proportion of spending to oil and gas last year, and other oil groups such as BP have slowed their retreat from oil....
...It was taken over in 2012 by Leucadia National Corporation, an oil-to-beef conglomerate, but the merged company pared back its other investments to focus solely on investment banking work....
...But Equinor is still first and foremost an oil and gas company....
...Worse, banks have cut specialised loans to oil and gas companies as a direct result of the tax....
...His $2.6bn investment came as the shale revolution was transforming the US into the world’s largest oil producer....
...Sachin Saggar, an analyst at Stifel, calculates that battery storage revenues had fallen to about £50,000 per megawatt by the end of 2023, down from £150,000 per MW in 2022....
...But his conviction should be a warning to companies, investment banks, law firms and the like that allow employees to own stocks even as they have broad knowledge of private, market-moving information....
...The Delaware court this year invalidated such a practice at the investment bank Moelis & Co, which had given its founder veto power over nearly all of the standard work conducted by a board of directors....
...Leverage has been applied ‘downstream’ at the portfolio company level, ‘upstream’ with recourse to GPs and LPs, and ‘midstream’ to the funds that own portfolio companies in the form of NAV loans....
...However, we see real structural demand tailwinds that are set to benefit these companies,” Michael Alfaro, chief investment officer at Gallo Partners, a hedge fund focused on regulatory and policy matters...
...Does that make it a good candidate for investment? Legendary investor Peter Lynch thought so....
...The company will report its 2023 financial results on Sunday....
...“In addition to improving our carbon footprint, ethanol has also fulfilled an economic mission of reducing dependence on imports of oil-based fuels,” says Thiago Duarte, head of equity research at investment...
...Pemex, once a major cash cow for Mexico’s government, now has the highest level of debt of any oil company due to years of under-investment, corruption and lack of reforms....
...Last August it said the tax, which is due to run until March 2028 unless oil and gas prices fall, meant it had to defer or cancel investment and it expected to produce less in 2024 than last year....
...In 2017, van Beurden was the first oil major chief executive to set targets to cut the carbon intensity of the company’s products and subsequently led a push into areas such as renewable power generation...
...Drew Dickson is the founder and chief investment officer of Albert Bridge Capital. He is short Tesla in his personal account....
...with GHGSat, a company backed by a climate investment fund founded by OGCI....
...In reality, Microsoft is the company showing the most tangible proof of AI revenue generation from hefty investments....
...You state (“BP pressured to ditch green pledges”, Report, January 30) that “renewable power projects generally have a lower return on investment than oil and gas”....
...“Even though we don’t use coal, we don’t use gas, we still import oil from our friends in Norway,” former finance minister Thórdís Kolbrún Reykfjörd Gylfadóttir told Moral Money....
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