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U.S. and European Oil Giants Go Different Ways on Climate Change

by mujair | Sep 21, 2020 | Business & Finance News

HOUSTON — As oil prices plunge and concerns about climate change grow, BP, Royal Dutch Shell and other European energy companies are selling off oil fields, planning a sharp reduction in emissions and investing billions in renewable energy. The American oil giants...

Europe’s Big Oil Companies Are Turning Electric

by mujair | Aug 17, 2020 | Business & Finance News

“To make a switch from a global economy that depends on fossil fuels for 80 percent of its energy to something else is a very, very big job,” said Daniel Yergin, the energy historian who has a forthcoming book, “The New Map,” on the transition now occurring in energy....

Delta Air Lines Bought an Oil Refinery. It Didn’t Go as Planned.

by mujair | Aug 10, 2020 | Business & Finance News

Such issues apparently did not factor into Delta’s thinking when the airline paid $150 million for the struggling Trainer refinery, which ConocoPhillips had idled six months earlier, citing pressure from imports, weak demand and regulatory costs. The refinery, which...

Saudi Aramco’s Profit Plunges Amid Oil Slump: Live Updates

by mujair | Aug 10, 2020 | Business & Finance News

Here’s what you need to know: A Saudi Aramco offshore oil platform in 2018. The giant oil company will continue paying a large dividend despite sharply lower profits.Credit…Mohamed Alebn Alshaikh/Saudi Aramco, via Agence France-Presse — Getty Images Saudi...

Saudi Aramco Says Profit Fell 73 Percent as Demand for Oil Shrank

by mujair | Aug 9, 2020 | Business & Finance News

Saudi Aramco, the world’s largest oil company, said on Sunday that its quarterly earnings plunged more than 73 percent compared to a year ago, as lockdowns imposed to curb the coronavirus pandemic drastically cut the demand for oil and slammed prices. Despite the...
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