Breaking News, Latest Philippines Headlines, World, Entertainment, Politics, Weather & Video News
NEW YORK, United States (AFP) – A leading activist investor called Wednesday for Royal Dutch Shell to break itself up, bolster its low-carbon investment and return more cash to shareholders. Bemoaning how the Anglo-Dutch giant’s stock valuation has lagged that of oil industry rivals, activist Daniel Loeb called for a “bold strategy” shift from the oil giant as he announced that he took a stake in the company. “Shell has too many competing stakeholders pushing […]
PARIS, France (AFP) – The French oil and gas major Total deliberately downplayed the threat of global warming from the 1970s onwards, according to research based on interviews with former company executives and internal company documents. The findings, published by a trio of historians Wednesday in the peer-reviewed journal Global Environment Change, follow similar revelations about US oil giant ExxonMobil and Royal Dutch Shell. The pattern that emerges is one of oil and gas giants […]
by Ben PERRY Agence France-Presse LONDON, United Kingdom (AFP) — Royal Dutch Shell on Thursday became the latest oil major to reveal huge annual losses as the coronavirus pandemic slashed energy demand and prices in 2020. Shell dived into a net loss of $21.7 billion (18.1 billion euros) last year as factories shut and planes were grounded. The Anglo-Dutch group’s loss compared with a net profit of $15.8 billion in 2019, the company said in […]
LONDON, United Kingdom (AFP) — Britain’s Cambridge University on Thursday pledged to stop investing in fossil fuels by 2030, bowing to pressure from environmentalists including its own students. The world-renowned seat of learning in eastern England said the pledge is part of its overall goal to slash carbon emissions to zero by 2038 — well ahead of the UK government’s 2050 target. The institution will now switch its £3.5-billion ($4.5-billion, 3.8-billion-euro) endowment fund — one […]
LONDON, United Kingdom (AFP) — Anglo-Dutch energy major Royal Dutch Shell posted Thursday a colossal net loss of $18.1 billion (15.4 billion euros) for the second quarter, blaming massive asset writedowns on the coronavirus-hit oil market. The performance, contrasting sharply with profit after tax of $3.0 billion a year earlier, was sparked by a huge $16.8-billion charge on chronic fallout both from COVID-19 and collapsing oil prices. The vast charge was taken “as a result […]
LONDON, United Kingdom (AFP) — Royal Dutch Shell on Thursday said that net profit surged 80 percent to $23.4 billion in 2018, thanks to higher oil prices and cost cuts. Profit after tax had come in at almost $13 billion in 2017, Shell said in a statement. “We delivered on our promises for the year, including the completion of the $30 billion divestment program and starting up key growth projects while maintaining discipline on capital […]
VIENNA, Austria (AFP) — Anglo-Dutch energy giant Royal Dutch Shell has announced it will sell assets in New Zealand to the Austrian oil and gas group OMV for $578mn. The deal includes stakes in the Maui and Pohokura gas fields and follows the company’s sale of its stake in the Kapuni field last year. Shell opened operations in New Zealand in 1911, but in 2015 announced a review of activities there as part of a […]
MEXICO CITY, Mexico (AFP) — Royal Dutch Shell said Wednesday it would invest $1 billion in Mexico over the next decade, after the oil giant opened its first retail gas station in the country. The investment in the world’s fifth-biggest consumer of gasoline depends on market conditions continuing to develop at their current rates, said Shell executive Istvan Kapitany. The money is earmarked for “expanding and improving the retail network, improving fuel logistics infrastructure and […]
NEW YORK, United States (AFP) — The global stock rally showed signs of petering out Thursday as oil prices stagnated and analysts expressed worry that another bout of selling could be imminent. After three straight days of solid gains, US stocks closed lower, with the Nasdaq down the most at 1.0 percent. London also lost 1.0 percent with metals and oil equities falling sharply after Wednesday’s bounce. Frankfurt gained 0.9 percent, while Paris edged up […]
