In an interview with CNBC that aired Wednesday, Mike Wirth, the CEO of Chevron, said that it would not invest in renewable energy, instead allowing its shareholders to use money earned from the company and “let them […]
Chevron
U.S. Gulf Oil Producers, Refiners Shut as Ida Comes Ashore
Oil and natural gas explorers in the U.S. Gulf of Mexico and Louisiana refineries have shut production as Hurricane Ida crashes ashore. Based on the latest forecast by the National Hurricane Center, Ida will make landfall near New Orleans […]
Big Oil Looks To Woo Investors Back With Massive Dividends – But At What Cost?
Big Oil is coming off yet another blockbuster season, posting the second consecutive quarter of stellar top-and-bottom line growth. According to the latest FactSet data, the energy sector’s Q2 2021 revenue growth rate of 24.9% came in […]
Norway’s $1.4 Trillion Wealth Fund Puts Oil Stocks on Notice
Norway’s wealth fund says there are oil companies in its portfolio that “absolutely” aren’t doing enough to cut emissions, as the guidelines it operates by are reviewed to give climate risk greater prominence. Norges Bank […]
Hidden ESG risks laid bare
If the idea of environmental, social and governance (ESG) risks has been well telegraphed, they can still lurk in unexpected parts of your portfolio. That’s the message from a new Morningstar paper, which warns that […]
US oil, gas drilling rig count up four at 603 on stronger Permian activity
HighlightsPermian rigs climb five to 258 Operators eye growth in basin Gas rigs just 5% below pre-pandemic levels The US oil and gas rig count climbed four to 603 in the week ended Aug. 4 […]
Oil Majors Are Primed For A Massive Earnings Season
Earnings season is here with us once again, with a quarter of S&P 500 companies having reported second-quarter 2021 earnings. According to FactSet data, 88% of S&P 500 companies have reported a positive EPS surprise, while 86% have reported […]
Oil and Gas Volatility Is Short Term – The Oil Majors Fleeing The Market Will Change The World
The US oil price fell more than six percent on Monday, a day after Saudi Arabia and the UAE reaching an agreement to increase output. With surging Covid cases threatening economic recovery, stock markets slumped. […]
Looming Venezuela talks whet investor appetite
Venezuela is returning to the geopolitical stage after months out of the limelight. President Nicolas Maduro’s government and his political opponents are preparing to restart negotiations to establish credible conditions for state and local elections […]
Seems like Energy Majors still have the hunger for fossil fuels even with the green board room
Energy News Beat Publishers Note (ENB): Those five LNG companies — Exxon Mobil, Royal Dutch Shell, TotalEnergies, and ConocoPhillips, which are part of Qatar’s existing LNG production were joined by new entrants Chevron and Italy’s […]