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Exxon Loses Board Seats to Activist Hedge Fund in Landmark Climate Vote

May 27, 2021

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…

Shell Shareholders Support Energy Transition Plan, Increase Pressure for Further Climate Action

May 18, 2021

Royal Dutch Shell shareholders overwhelmingly backed the company's energy transition strategy on Tuesday, but increased support for a second climate resolution filed by an activist group pointed to growing pressure to tackle climate change.A…

IEA: New Fossil Fuel Investments Must Stop If We Want to Meet 2050 Net-Zero Target

May 18, 2021

Investors should not fund new oil, gas and coal supply projects if the world wants to reach net-zero emissions by mid-century, the International Energy Agency (IEA) said on Tuesday, in the top global watchdog's starkest warning yet to curb fossil fuels…

Current News

One Shelf Drilling Rig Up for New Job in India, Other for Disposal

One Shelf Drilling Rig Up for New Job in India, Other for Disposal

Four Jack-Up Drilling Rig Deals Set to Bring In $129M for Borr Drilling

Four Jack-Up Drilling Rig Deals Set to Bring In $129M for Borr Drilling

PTTEP Hires Velesto’s Jack-Up Rig for Drilling Campaign off Malaysia

PTTEP Hires Velesto’s Jack-Up Rig for Drilling Campaign off Malaysia

Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Petrovietnam, Partners Sign PSC for Block Off Vietnam

Petrovietnam, Partners Sign PSC for Block Off Vietnam

Japan Protests China’s New Oil and Gas Construction Activities in East China Sea

Japan Protests China’s New Oil and Gas Construction Activities in East China Sea

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Unspecified number of deaths and missing in Texas flash flood
As floodwaters recede in Central Texas, 27 people have been confirmed dead
Sources say OPEC+ will continue to increase output.
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