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(Reuters) - Investors expect global green bond investment to double and reach $1 trillion for the first time in a single year by the end of 2022, a survey by the Climate Bonds Initiative showed on Thursday. The Climate Bonds Initiative, a London-based non-profit body that promotes investment in the low-carbon economy, forecasts that green... Continue Reading →
(Reuters) - CNOOC Ltd's(0883.HK) unaudited third-quarter revenue grew 64% to 59.7 billion yuan ($9.33 billion) on higher prices and output, the Chinese offshore oil and gas major said on Thursday. The state oil firm said it is mapping out a emission-cutting roadmap together with parent company China National Offshore Oil Company under the broad national framework... Continue Reading →
Royal Dutch Shell set itself tougher emissions-cutting targets on Thursday, even as it reported a lower-than-expected third-quarter profit of $4.13 billion. The oil major said it would cut absolute emissions from its operations and the electricity it uses, known as Scope 1 and 2 emissions, by half by 2030 compared with 2016. The company has... Continue Reading →
Global wind power leader Iberdrola reported a 10% fall in net profit on Wednesday but beat market expectations for a turbulent nine months on energy markets which saw its home government in Spain swoop on utilities' earnings. Power and gas prices have soared to record highs around the world as economies fired up after the... Continue Reading →
Keppel Offshore & Marine (KOM), a subsidiary of Singapore’s Keppel Corporation, is being sued by the eight funds managed by EIG Management Company, with a claim of almost $820m over the loss of an investment. The civil action by EIG Funds is being heard in the US District Court, Southern District of New York. In... Continue Reading →
(Reuters) - U.S. oil producer Hess Corp (HES.N) on Wednesday reported a better-than-expected quarterly profit, as soaring prices for crude and gas cushioned the hit from lower production. Shale producers in the United States are poised to deliver their strongest earnings since the onset of the COVID-19 pandemic as prices for oil and gas have sky rocketed. read... Continue Reading →
(Reuters) - Norway's Equinor (EQNR.OL) posted its strongest quarterly result in nine years on Wednesday, driven by a global energy supply crunch that pushed Europe's natural gas prices to record highs and sent the value of derivative contracts soaring. Equinor has the largest exposure to spot gas prices among big oil companies and its results come ahead... Continue Reading →
Top U.S. oil firms are doubling down on drilling, deepening a divide with European rivals on the outlook for renewables, and winning support from big investors who do not expect the stateside companies to invest in wind and solar. Among a dozen U.S. fund managers contacted by Reuters from companies overseeing about $7 trillion in... Continue Reading →
Offshore driller Seadrill Ltd on Tuesday obtained court approval for its reorganization plan, clearing the way for it to emerge from bankruptcy. U.S. Bankruptcy Judge David Jones in Houston signed off on the plan during a virtual hearing. Under the plan, creditors will exchange $4.9 billion in debt for equity in the company. Seadrill will... Continue Reading →
(Reuters) - BP's trading team made at least $500 million in the third quarter of 2021, two sources with knowledge of the company's trading results said, as the energy major benefitted from a gas crisis that has left consumers and industries smarting. Natural gas and power prices soared to an all-time high in Europe and... Continue Reading →
