A tiny hedge fund dealt a major blow to Exxon Mobil Corp on Wednesday, unseating at least two board members in a bid to force the company's leadership to reckon with the risk of failing to adjust its business strategy to match global efforts to combat climate change.The success by hedge fund Engine No. 1 in its showdown with Exxon shocked an energy industry struggling to address growing investor concerns about global warming…
The United Arab Emirates President of COP28 said on Monday he was aware countries had strong views about including language on fossil fuels and renewables in the negotiated text of the UN climate summit but that common ground must be found.'I…
Over 100 members of the U.S. Congress and European Parliament called on Tuesday for Sultan al-Jaber to be removed as the designated head of the upcoming COP28 climate talks, saying the oil exec's appointment threatened the integrity of negotiations…
Rating agency Moody's said on Friday that the credit risk of major oil producers has increased with recent events including Royal Dutch Shell losing a Dutch climate lawsuit this week and Exxon losing a battle with shareholders.Chevron also lost…
Asian energy officials on Wednesday disputed the International Energy Agency's (IEA) call for no new oil, natural gas and coal investments for the world to be able to reach net-zero carbon emissions by 2050, viewing that approach as too narrow…
Malaysian oil giant Petronas has announced its plan to achieve net-zero carbon emissions by 2050.The company' President and Group Chief Executive Officer, Tengku Muhammad Taufik said: 'As the world contends with the many challenges brought about by energy transition…
Global oil demand and carbon dioxide emissions probably peaked in 2019 as the COVID-19 pandemic will have a lasting impact on both, energy consultancy DNV GL said on Wednesday.The Norway-based consultancy, which advises both petroleum and renewable energy companies on risk management and technology…
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