BP in 2020 set out its ambition to become a net zero company “by 2050 or sooner.” Matt Cardy | Getty Images News | Getty Images Shares of BP rose 6% on Tuesday after the oil giant accelerated the pace of its buybacks and increased its dividend, despite a drop in annual profit. The energy major increased … Read more
Clorox – The consumer products giant saw a huge earnings beat. It’s also rebounding from last year’s cyberattack. “Things are back online, and there’s tremendous demand for their product,” Jim said Friday’s Morning Meeting rapid fire. Tesla – The EV leader issued a recall for 2.2 million cars over a warning light issue. Remember, our … Read more
Environmental activist Greta Thunberg leaves Westminster Magistrates’ Court in London, England, on Feb. 1, 2024. Leon Neal | Getty Images News | Getty Images LONDON — Swedish climate activist Greta Thunberg on Friday was cleared of a public order offense over a protest at an oil and gas conference in October. Thunberg was arrested Oct. … Read more
A controversial tax credit meant to help jump-start carbon capture projects could cost $1 billion more than the federal government estimated, says the independent parliamentary budget watchdog. In several federal budgets, Finance Canada forecast that the carbon capture, utilization and storage (CCUS) investment tax credit would cost $4.6 billion between 2022-28. The Parliamentary Budget Officer … Read more
A Shell logo displayed on a sign at a gas station in Nakuru, Kenya. Sopa Images | Lightrocket | Getty Images British oil giant Shell on Thursday beat expectations for full-year profit and announced a $3.5 billion share buyback program. Shell reported adjusted earnings of $28.25 billion for the full-year 2023. The firm logged its highest-ever annual … Read more
Activist investor Bluebell Capital Partners is pushing for BP to urgently change tack, saying it is “highly debatable” whether the oil major’s strategy of reducing fossil fuel investments in favor of clean energy has any chance of succeeding. Giuseppe Bivona, partner and co-chief investment officer at Bluebell, on Tuesday said that the FTSE 100 energy … Read more
ExxonMobil CEO Darren Woods speaks at the Asia-Pacific Economic Cooperation (APEC) Leaders’ Week in San Francisco, California, on November 15, 2023. Andrew Caballero-reynolds | Afp | Getty Images Exxon Mobil filed a lawsuit against U.S. and Dutch activist investors in a bid to stop them from submitting climate proposals during the oil giant’s annual shareholder … Read more
Shipping traffic through the Red Sea has plummeted as Houthi militants step up their attacks on vessels in the region. American-led airstrikes have done little to deter the disruption and now the CEO of one of the biggest shipping companies in the world says the disruption will probably last at least a few months. “So for us, … Read more
CEO pay in the oil and gas sector has soared with the industry’s post-pandemic resurgence and will likely increase even more with the completion of the Trans Mountain pipeline expansion this year, a new report projects. The report released Wednesday by the Bedford Consulting Group looked at C-Suite salaries, bonuses and other forms of executive … Read more
Canada’s big five banks are potentially misleading investors with their use of terms like sustainable finance, according to a complaint to securities regulators by a climate advocacy group. Banks are using the term “sustainable finance” too broadly and not backing up the claims with data, Investors for Paris Compliance said in its submission Tuesday to … Read more
