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☆ The G7 is least bad group for a troubled world
▼ + stars: | 2023-09-04 | by ( Hugo Dixon | ) www.reuters.com time to read: +7 min

In this troubled world, the Group of Seven rich democracies is the best bet for keeping the peace and protecting the planet. The Group of 20 large economies and the United Nations, both of which hold summits this month, are broken. India and Brazil may also be out of place in an expanded group which China seems to be dominating. G7 BY DEFAULTThat leaves the G7, which brings together the U.S., Japan, Germany, the United Kingdom, France, Italy and Canada. But to see off challenges from other groups, the G7 needs a more ambitious offer for the Global South.

Persons: Joe Biden, Volodymyr Zelenskiy, Vladimir Putin, Lehman Brothers, Narendra Modi, What’s, Putin won’t, Xi Jinping, haven’t, Donald Trump’s, Joe Biden’s, Putin, Peter Thal Larsen, Thomas Shum Organizations: Reuters, U.S, United Nations, UN, Security, Lehman, Indian, United, International Monetary Fund, Freedom House, U.S ., American, European Union, Global, Thomson Locations: Ukraine, Hiroshima, Japan, China, U.S, Soviet Union, Russia, United Kingdom, France, New Delhi, India, loggerheads, Brazil, South Africa, Argentina, Ethiopia, Egypt, Iran, Saudi Arabia, United Arab Emirates, UAE, Mexico, Indonesia, Turkey, Thailand, Nigeria, Vietnam, Malaysia, Philippines, Bangladesh, Germany, Italy, Canada, Iraq, Britain, Europe, Asia, South Korea, Australia

☆ Drill, Baby, Drill: The Promise of Geothermal Power
▼ + stars: | 2023-08-31 | by ( David Gelles | More About David Gelles | ) www.nytimes.com time to read: +1 min

And much of the research and development needed for the new geothermal technologies is already done, thanks in large part to recent advances by the oil and gas industry — including fracking. At the end of the day, it might be techniques developed by Big Oil that ultimately help make fossil fuels obsolete. Drilling, but not for oilOver the past 20 years, fossil fuel companies have gotten very, very good at drilling. “The thing that made me think that this could be real is the fact that the major costs of these geothermal projects often is drilling,” Brad said. Drilling is something the United States has just gotten incredibly good at.”

Persons: ” Brad, Brad, ” Organizations: U.S . Energy Department, Big Oil Locations: U.S, United States

☆ Europe's bumper Q2 puts global dividend payouts on track for record year
▼ + stars: | 2023-08-29 | by ( Marc Jones | ) www.reuters.com time to read: +4 min

This time around, the surge in global interest rates meant banks contributed half the world's dividend growth and drove a quarter of Europe's increase. At the same time, U.S. dividend growth slowed for the sixth consecutive quarter. "But the positive effect on bank margins from the end of years of ultra-low interest rates is very powerful and is driving dividend payouts". The second quarter marks a seasonal high point for Japanese dividends and payouts there rose 8.4% on an underlying basis. Its largest dividend payer, carmaker Toyota (7203.T), accounted for one third of the underlying increase with a 25% hike, despite lower profits.

Persons: Dado Ruvic, Janus Henderson, Ben Lofthouse, Lofthouse, Eli Lilly, Marc Jones, Alex Richardson Organizations: REUTERS, Companies, Global Equity, UnitedHealth Group, Intel, Blackstone, Toyota, HK, Petrobras, PETR4, Thomson Locations: Europe, Italy, Spain, Britain, Ukraine, U.S, Asia, China, Brazil, Colombia

☆ Oil companies are approaching influencers and enlisting PR firms to reach younger generations on social media
▼ + stars: | 2023-08-19 | by ( Katie Hawkinson | ) www.businessinsider.com time to read: +3 min

TikTok influencers with millions of followers are partnering with companies like ExxonMobil and Shell. These companies are also using PR firms that help them target millenials and younger generations, The Washington Post reports. Oil companies are paying social media influencers to promote their brands and reach younger audiences, according to reports from The Washington Post and DeSmog. "ExxonMobil, like many companies, works with influencers to educate consumers about the full benefits of our rewards program," Julie King, a spokesperson for ExxonMobil, told Insider. For example, Edelman, a public relations firm, works with Shell to promote it to millenials and younger audiences, the Post reports.

Persons: influencers, Sam Bright, DeSmog's, They're, Curtis Smith, Julie King, Instagram influencer Nora Capistrano Sangalang, —, Meredith Steele, influencer, Edelman Organizations: ExxonMobil, Shell, Washington Post, Morning, The Washington Post, DeSmog, Companies

☆ How gas station economics will change in the electric vehicle charging future
▼ + stars: | 2023-08-19 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +8 min

Here's what gas station owners need to know about the EV charging trend and their future. By contrast, gas stations along major highways between highly traveled destinations can be ideal for electric charging hubs. While there can be a first-mover advantage for gas stations, some owners, like Blake Smith, founder of SQRL Holdings, a gas station and convenience store operator, are taking it slow. His company operates more than 150 convenience store gas station locations and offers electric charging in select locations in Florida. "I would never recoup my investment," he said, adding that a move to all electric charging could be decades away.

Persons: Seth Cutler, Neha Palmer, Shubhendra Anand, Biden, Barbara Stoyko, Sujay Sharma, Sharma, Yair Nechmad, Michael Hughes, Rohan Puri, Hughes, Albert Gore, Gore, Blake Smith Organizations: EV Connect, Gas, EV, TeraWatt, Automotive, Shell, Research, Shell Americas, BP, GM, Ford, National Automobile Dealers Association, ChargePoint Holdings, Stable Auto Corporation, U.S . Department of, Administration, U.S . Department of Energy, Royal, Emission Transportation Association, EVs, SQRL Holdings Locations: California , Arizona, New Mexico, Takoma Park, Md, Fulham, England, China, Netherlands, U.S, Local, Wawa, Florida, Arkansas

☆ Maui Sued Big Oil in 2020, Citing Fire Risks and More
▼ + stars: | 2023-08-18 | by ( Hiroko Tabuchi | More About Hiroko Tabuchi | ) www.nytimes.com time to read: +1 min

And while lawsuits like the one filed by Maui have been delayed by procedural issues, the fires could be an important part of the county’s claim for damages should the case go to trial, legal experts said. Maui’s arguments are also likely to resonate with a local jury. And while that attribution can take time, scientists have pointed to Hawaii’s declining average rainfall as well as drought, hurricane winds and other conditions linked to climate change as factors that fueled the Maui fire. The fossil fuel industry has tried to move the Maui and other climate cases to federal court, where it hoped for better outcomes. But the U.S. Supreme Court decided last year that they should remain in state courts.

Persons: “, ”, Richard Wallsgrove, it’s Organizations: Environmental, University of Hawaii, Supreme Locations: Maui, Hawaii, Manoa, U.S

☆ Opinion | Maui and the Age of the Urban Firestorm
▼ + stars: | 2023-08-16 | by ( David Wallace-Wells | ) www.nytimes.com time to read: +3 min

It wasn’t even really a wildfire. In general, we’ve long believed the built environment offered formidable firebreaks, and worried over what might be lost when fires passed near homes as a form of tragic collateral damage. As of Tuesday, the official death toll in Maui was 99, but almost 1 percent of all residents remained unaccounted for, and many locals were suggesting the death toll could increase significantly in the days ahead. A climate lawsuit launched by the island against Big Oil in 2020 specifically cited additional wildfire risk. But still, when the fire broke out, almost no one seemed adequately prepared.

Persons: Daniel Swain, Tubbs, Marshall, Chuck, Swain Organizations: Costco, New York, Big Oil Locations: Lahaina, Hawaii, Santa Rosa, Calif, Paradise, Boulder County, Colo, New, Maui

☆ As Climate Change Worsens, Big Oil’s Support for Clean Energy Is Lacking - The New York Times
▼ + stars: | 2023-08-07 | by ( Jason Bordoff | ) www.nytimes.com time to read: +1 min

If you’ve been listening to the world’s major energy companies over the past few years, you probably think the clean energy transition is well on its way. The company also raised its dividend, diverting money that could be used to develop clean energy. BP’s share prices surged earlier this year when the company walked back its plan to reduce oil and gas output. The industry can point to efforts to reduce emissions and pursue green energy technologies. But those efforts pale in comparison with what they are doing to maintain and enhance oil and gas production.

Persons: Shell Organizations: International Energy Agency

☆ Big Oil’s Talent Crisis: High Salaries Are No Longer Enough
▼ + stars: | 2023-08-06 | by ( Mari Novik | Collin Eaton | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/big-oils-talent-crisis-high-salaries-are-no-longer-enough-194545be

Persons: Dow Jones

☆ Big Oil's capital discipline has led to solid returns and tremendous dividends: Wells Fargo's Read
▼ + stars: | 2023-07-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBig Oil's capital discipline has led to solid returns and tremendous dividends: Wells Fargo's ReadRoger Read, Wells Fargo senior energy analyst, joins 'Squawk on the Street' to discuss his thoughts on Exxon and Chevron, if big oil will begin to buy more properties, and much more.

Persons: Wells Fargo's Read Roger Read, Wells Organizations: Exxon, Chevron Locations: Wells Fargo

☆ Morning Bid: Bank of Japan excites, Dow unlucky, Intel jumps
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +4 min

Specifically, the central bank said it would offer to buy 10-year JGBs at 1.0% in fixed-rate operations, instead of the previous rate of 0.5% - tolerating the wider band for bond market borrowing rates. With July core inflation in Tokyo falling back to a 10-month low, the need for tightening may be ebbing anyway. Friday's data is expected to show another drop in the Fed's favoured core PCE inflation gauge in June. For markets more broadly, Friday seems a little scattergun so far after a heavy week of macro policy and corporate news. U.S. Treasury yields fell back from two-week highs hit after the punchy U.S. economy readouts and central bank moves, with the 2-to-10 year yield curve steepening as recession fears abate.

Persons: Mike Dolan, Dow Jones bluechips, T Rowe Price, Nick Macfie Organizations: Bank of Japan, Dow, Nikkei, Federal Reserve, European Central Bank, Treasury, ECB, Intel, U.S, Exxon Mobil, Chevron, Proctor, Gamble, Colgate Palmolive, Franklin Resources, Newell Brands, Church, Dwight, Charter Communications, Dallas Fed, University of Michigan, Reuters, Thomson Locations: U.S, Wall St, Tokyo, Wall, Asia, Centene, Franklin

☆ Bank of America says Europe's oil majors ‘are close to bottoming out' — and names its top pick ahead of earnings
▼ + stars: | 2023-07-24 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Bank of America believes Europe's oil majors are about to hit an inflection point. This trend reflects investor anticipation for a long-awaited turn in earnings momentum, according to analysts at Bank of America. It named Shell as its "Big Oil top pick." The below table shows European Big Oil companies, the earnings release dates, and Bank of America's 12-month price target and upside potential. Shell As its top pick, Bank of America expects Shell to report strong second-quarter earnings and cash flows.

Persons: Christopher Kuplent, Shell, BofA, TotalEnergies Organizations: of America, Big, Bank of America, Shell, Oil, Big Oil, Bank of America's, BP, outflows, TotalEnergies Bank of America Locations: London , New York, Amsterdam, London, New York, Paris, Norwegian, Oslo

☆ S&P 500 futures are flat ahead of a busy week of earnings, Fed meeting: Live updates
▼ + stars: | 2023-07-23 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

S&P 500 futures were little changed Sunday evening as investors awaited a batch of key earnings reports and a major policy decision from the Federal Reserve. The S&P 500 finished the week up by 0.7% at 4,536.34, while the Nasdaq Composite fell 0.6% in the same period to 14,032.81. The week ahead is also set to be the busiest one of earnings season, with Thursday being the most intense day. About 40% of the Dow and 30% of the S&P 500 will give their financial updates during the week, including Alphabet, Microsoft and Meta. Several big pharma companies are getting ready to report and it's a big week for industrial companies and big oil as well.

Persons: Noah Hamman, Fundstrat's Tom Lee, Jerome Powell, They're, —, Robert Hum, Sarah Min Organizations: Federal Reserve, Dow Jones Industrial, Nasdaq, Dow, Microsoft, Meta, pharma

Ms. Sims, 54, may be the most surprising legal figure to emerge as the world grapples with the devastating impacts of a warming planet. And she is now the singular force behind a creative legal gambit to make oil and gas companies pay for the devastation being wrought by climate change in Puerto Rico. Her strategy is being carefully watched by the fossil fuel industry and environmental groups as well as other lawyers and municipalities. The lawsuit she filed in November goes after a who’s who of the fossil fuel industry — Exxon Mobil, Chevron, Royal Dutch Shell, BP and others. The case is part of a new wave of litigation targeting oil, gas and coal companies over climate change, which is driven by the burning of their products.

Persons: Sims Organizations: Exxon Mobil, Chevron, Royal, Shell Locations: Puerto Rico

☆ BlackRock might not be 'woke' anymore after the asset manager put an oil CEO on its board
▼ + stars: | 2023-07-19 | by ( Rebecca Ungarino | George Glover | ) www.businessinsider.com time to read: +4 min

BlackRock named Aramco CEO Amin Nasser to its board Monday. Nasser leads the world's largest oil producer, which is mainly owned by the Saudi Arabian state. Its decision to name Aramco CEO Amin Nasser to its board Monday provides further ammunition for those critics, signaling that the firm might not be as socially conscious as it says it is. That is the wrong player here, unless [BlackRock CEO] Larry Fink really wants to blur their image on the ESG front," Jeffrey Sonnenfeld, the Yale professor and management expert, said on CNBC Tuesday. Amin H. Nasser, president and chief executive officer of Saudi Arabian Oil Company (Saudi Aramco), speaks at the China Development Forum in Beijing, China, March 19, 2017.

Persons: Amin Nasser, Nasser, Larry Fink's, it's, Larry Fink, Jeffrey Sonnenfeld, Biden, Jamal Khashoggi, He'll, that's, Amin H, Shu Zhang, Reuters Fink, BlackRock's, It's, Fink, he'd Organizations: BlackRock, Aramco, Yale, CNBC, Washington Post, Saudi Arabian Oil Company, China Development Forum, Reuters, McKinsey, Republican Locations: Saudi Arabian, Saudi Arabia, Saudi, Saudi Aramco, Beijing, China, Massachusetts

Parts of Europe and the southern United States are expected to experience record-breaking highs, with consequences for human health and economic activity. As China faces sweltering heat, John Kerry, the U.S. climate envoy, met with the country’s premier to urge cooperation in fighting climate change. Microsoft and Activision reportedly plan to extend a deadline for their deal. The Competition and Markets Authority, which had previously moved to block the transaction, has set an Aug. 29 deadline for the talks. Under new rules negotiated by the Treasury Department, American businesses now have until 2026 before other countries can start imposing new levies on corporations deemed to have paid too little in the United States.

Persons: Fink, Jamal Khashoggi, John Kerry, isn’t, Elizabeth Warren, Tesla, Elon Musk, Biden Organizations: Investment Initiative, Northern, Microsoft, Activision, Bloomberg, The, Markets Authority, Massachusetts Democrat, Elon, Twitter, Treasury Department Locations: Saudi, Europe, United States, China, U.S, Massachusetts

FRANKFURT/LONDON July 13 (Reuters) - Energy majors BP (BP.L) and TotalEnergies (TTEF.PA) have won a 7 gigawatt (GW) offshore wind site auction in Germany worth a record 12.6 billion euros ($14.1 billion), allowing them entry to the central European market without a partnership. The awards for capacity due to come online in 2030 also excluded leading offshore wind developers, such as RWE (RWEG.DE) and Orsted (ORSTED.CO). AUCTION DESIGNThe 7 GW electronic auction officially opened in January and bidders had until June 1 to submit offers. In previous German lease auctions, companies have made low or negative bids with the expectation of subsidies from the state. Industry groups have said the high costs of the leases could drive up the cost of offshore wind projects.

Persons: Bundesnetzagentur, Bernstein, WindEurope, Orsted, Norway's, TotalEnergies, Vera Eckert, Susanna Twidale, Christoph Steitz, Ron Bousso, Nora Buli, Nina Chestney, Barbara Lewis Organizations: Energy, BP, Industry, Thomson Locations: FRANKFURT, Germany, Macquarie, England, Danish

☆ Geely, Renault strike deal to develop gasoline engines, hybrid technology
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +2 min

[1/2] The Geely logo is seen at a car dealership in Shanghai, China August 17, 2021. REUTERS/Aly SongJuly 11 (Reuters) - China's Geely Automobile Holdings (0175.HK) and French car maker Renault SA (RENA.PA) on Tuesday said they will invest up to 7 billion euros ($7.71 billion) in a new equally held joint venture to develop gasoline engines and hybrid technology for automobiles. The JV aims to have an annual production capacity of up to five million internal combustion, hybrid and plug-in hybrid engines and transmissions, Renault added. Saudi Aramco (2222.SE), which signed a letter of intent with Renault and Geely in March, is evaluating a strategic investment in the new company, Renault said. Big oil firms have worked with automakers to develop sustainable fuels and hydrogen engines in recent years.

Persons: Aly Song, Eric Li, Harish Sridharan, Nivedita Bhattacharjee, Eileen Soreng Organizations: REUTERS, Geely Automobile Holdings, HK, Renault SA, Geely Holding, Renault, Volvo, Proton, Nissan, Mitsubishi Motors, Torino, JV, Reuters, Saudi Aramco, Geely, Aramco, Thomson Locations: Shanghai, China, Saudi, Bengaluru

☆ Greta Thunberg has accused Russia of ‘ecocide’ in Ukraine. But what does that mean?
▼ + stars: | 2023-07-02 | by ( Radina Gigova | ) edition.cnn.com time to read: +10 min

The Deep-Water Horizon oil spill, severe pollution in the Niger Delta and Amazon deforestation, could be examples of ecocide, said Jojo Mehta, co-founder and executive director of Stop Ecocide International. A number of others have debated doing the same, including Brazil, Canada, Kenya, the Maldives and the UK, according to Stop Ecocide International. “It is not a question of whether ecocide will become part of international criminal law, it’s only a question of when,” Sands said. A working group, including Thunberg, has also been established to draw attention to the environmental impact of war. If ecocide were an international crime, it could give the process more authority, some experts say.

Persons: Volodymyr Zelensky, Greta Thunberg, “, Sergei Supinsky, ”, Doug Weir, Polly Higgins, ” Weir, Jojo Mehta, Michael Dantas, Jair Bolsonaro, ” Philippe Sands, Mehta, wasn’t, it’s, ” Sands, Weir, Anna Ackerman, Matthew Hatcher, Ackerman, can’t Organizations: CNN, Getty, Criminal Court, ICC, Observatory, Criminal, International Institute for Sustainable Development, Ukraine’s Locations: Ukraine, Europe, Swedish, Kyiv, Russia, AFP, British, Niger Delta, Humaita, Amazonas, Brazil, ecocide, Rome, Canada, Kenya, Maldives, Mykolaiv, Odesa, Kherson

☆ Oil and gas will continue to power the world for decades to come, big oil firms say
▼ + stars: | 2023-06-30 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +5 min

"We think the biggest realization that should come out of this conference ... is oil and gas are needed for decades to come," said John Hess, CEO of U.S. oil company Hess Corporation. A.S. Sahney Executive Director of Indian Oil CorporationHess said oil and gas are key to the world's economic competitiveness, as well as an affordable and secure energy transition. "The world is facing a structural deficit in energy supply, in oil and gas, in clean energy," he said. "That shows our belief in [the] continuance of fuel," the executive director said, acknowledging that energy transition is here to stay. Oil demand an 'ancient story'Commodities trading firm Vitol is less bullish, predicting that demand for crude will peak in 2030 — two years later than the IEA's forecast.

Persons: John Hess, Hess, Indian Oil Corporation Hess, Haitham Al Ghais, Erin McGrath, Dan Yergin, TotalEnergies, Patrick Pouyanne, Amin Nasser, Russell Hardy, Russia's Organizations: Barcroft Media, Getty, Energy Asia, Hess Corporation, International Energy Agency, Sahney, Indian Oil Corporation, OPEC's, Hess Corp, Energy Asia Summit, Bloomberg, ExxonMobil, CNBC, U.S, Commodities, EV Locations: Lake, China's Jiangsu, Malaysia's, Kuala Lumpur, India, A.S, Malaysia, Asia, Africa, America, Europe, China, Korea, Japan, Vietnam, Saudi Arabia's, Aramco

☆ Premarket stocks: Why Wall Street is bullish on beaten-down energy
▼ + stars: | 2023-06-30 | by ( Analysis Krystal Hur | ) edition.cnn.com time to read: +5 min

New York (CNN) Some investors are turning bullish on energy stocks, despite their disappointing performance this year and some major challenges facing Big Oil. But energy stocks have fallen 7.8% this year, compared to a gain of 14.5% for the S&P 500. Why are energy stocks down? The energy sector rose about 59% last year after Russia's invasion of Ukraine sent commodity prices skyrocketing. There are two main reasons why investors are keen on energy stocks: They're priced attractively, and the companies are making money.

Persons: It'sthe, Jay Rhame, Eric Diton, Catherine Thorbecke Organizations: CNN Business, Bell, CNN, International Energy Agency, Asset Management, Brent, West, downer, Federal Reserve, Apple, Nvidia, ExxonMobil XOM Energy, Chevron, Wealth Alliance Locations: New York, Ukraine, Europe, West Texas, China, India

☆ Big Oil Mulls a Slippery Future
▼ + stars: | 2023-06-29 | by ( Carol Ryan | ) www.wsj.com time to read: 1 min

Persons: Dow Jones, bb8d07bb

☆ Inflation is finally cooling — but the Wagner Group's attempted mutiny in Russia may send it back up, analysts warn
▼ + stars: | 2023-06-26 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Oil prices spiked more than 1% on Sunday after the Wagner Group's attempted mutiny. Analysts say oil prices could continue to gain on the geopolitical risks in energy giant Russia. Following the aborted coup over the weekend, benchmark crude oil US West Texas Intermediate and Brent crude oil futures both jumped over 1% on Sunday. As of Monday, oil prices have come off — but analysts say oil futures could continue posting gains due to the geopolitical risk in energy giant Russia. Benchmark US WTI crude oil futures were up 0.2% at $69.29 a barrel at 1:29 a.m. EDT on Monday.

Persons: Wagner Group's, Rystad Energy's Jorge Leon, —, Vladimir Putin's, Jorge Leon, Leon, Paul Sheldon Organizations: Service, West Texas Intermediate, Brent, Rystad Energy, P, Commodity Locations: Russia, Kuwait, Ukraine, Kazakhstan, Azerbaijan

REUTERS/StringerLONDON, June 24 (Reuters) - Following are facts about oil, gas and grains flows in Russia's southern region of Rostov, where the capital Rostov-on-Don was seized by Russian mercenaries. Russia's main grain exporting terminals on the Black Sea are further south, and this area has been unaffected by the developments so far. OIL & GASThe region of Rostov is not a major energy producer but several big oil and gas pipelines cross its territory. Russia is the world's second largest oil exporter after Saudi Arabia. Russia's pipeline monopoly Transneft controls many pump stations on the route, including in the Rostov region.

Persons: Wagner, Stringer LONDON, Don, Vladimir Putin, Yevgeny Prigozhin, Andrey Sizov, Sizov, Dmitry Zhdannikov, Ros Russell Organizations: Southern Military District, REUTERS, Wagner, Reuters, U.S . Department of Agriculture, Thomson Locations: Rostov, Don, Russia, Russia's, Russian, Azov, Saudi Arabia, Novorossiisk, Krasnodar, Voronezh

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