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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...
...Jaber — who is also head of the Abu Dhabi National Oil Company (Adnoc) — said he will invite chief executives from Silicon Valley and Big Oil for a “Change Makers Majlis”, or special gathering, at the start...
...China relies on Iran for about a tenth of its oil imports but processes the oil not through its state-owned oil and gas companies but through smaller, private, refineries....
...The report came after oil companies including Shell and BP trimmed back their climate targets this year and hundreds of other companies, including Microsoft, Unilever and JBS, failed to set goals that were...
...On Monday, Aramco outlined its latest in a number of tie-ups with China’s large petrochemical producers, each designed to ensure the state-controlled Saudi company has committed buyers in the future for...
...According to company filings, the social media company in December cancelled chief executive awards that were tied to the company hitting the ambitious market capitalisation following a stock market debut...
...BP’s shareholders are expecting the company to further soften its climate-related oil and gas production targets....
...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....
...At BP, Auchincloss suggested to analysts that while he would not pursue any oil and gas deals with the oil price above $80, he might take an interest in cheaply valued low carbon assets....
...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]....
...While more oil could come on line this summer from Opec, which next meets to discuss quotas in June, Sen predicted that oil prices would have to rise further first....
...Barrack also warned that, depending on what the cartel does, the oil market could experience “extraordinary” volatility....
...It is unpopular with environmentalists who argue that CCS enables oil companies to keep drilling....
...The former head of Shell, Ben van Beurden, told the Financial Times this month that the oil major was “massively undervalued” in London and could benefit from listing in the US....
...autonomy, I think they should not be an investor in the company.”...
...“The company has a very diversified shareholding base of 1,200 . . . compared to the previous generation,” he said....
...oil and gas....
...Privately held Vitol, which employs about 1,800 people, made a record $15.1bn in net profit in 2022 and about $13bn in 2023, making it one of the most profitable companies in the world on a per capita basis...
...“We need to support the Global South,” said Amin Nasser, chief executive of the world’s largest oil producer, Saudi Aramco....
...elaine.moore@ft.com...
...Worse, banks have cut specialised loans to oil and gas companies as a direct result of the tax....
...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...
...Companies with high dividend payouts are about to get much more attractive. Lex recommends taking a look at telecoms....
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