Global investors are increasingly moving away from the renewable energy sector funds this year due to concerns over the sector's growth prospects and uncertainty over policies in a U.S. election year, fund data show.Renewable energy sector funds witnessed steady inflows in the past few years, bolstered by consumers willingness to pay more for environmentally sustainable products and services and supportive policies in the United States and Europe…
U.S. oil major Chevron's CEO Michael Wirth was paid $26.5 million in 2023, a 12.2% boost from the prior year and above the median pay raise for employees, a securities filing showed on Wednesday.The numbers show an increased gap between compensation for executives and Chevron's 45…
Shares of Brazil's state-run oil company Petrobras plunged more than 11% in opening trading in Sao Paulo on Friday, after the firm's dividend frustrated investors and triggered analyst downgrades.In a fourth-quarter earningsrelease late on Thursday…
Tullow Oil swung into a loss in 2023 after cutting the value of reserves in one of its West African oilfields, as its chief executive said the company would consider shareholder returns after 2025.The London-listed company said on Wednesday it posted a $110 million loss after tax last year…
Mexico's Pemex reversed losses in the last three months of 2023 but its overall debt burden remained the highest of any oil company in the world, with billions of dollars due to bond holders and service providers.The state-run company posted a profit of 106…
U.S. shale oil producer APA Corp missed Wall Street estimates for fourth-quarter profit on Wednesday, hit by weaker North Sea production.Its North Sea production was hit by a temporary shutdown during the reported quarter at its Beryl Bravo offshore platform…
Mexico's government approved a new 'fiscal stimulus' for its heavily indebted state energy company Pemex, according to a decree published on Tuesday, part of a strategy meant to meet its obligations and undertake investments this year.The stimulus…
Drilling waste management company TWMA on Tuesday announced it has closed on a $62.5million Sustainability Linked Bond on the Nordic ABM in Oslo.Qualifying for a Sustainability Linked Bond required third party recognition that TWMA’s sustainability…
The U.S. Department of Transportation's Maritime Administration (MARAD) in December issued a final rule updating its financial requirements for the Federal Ship Financing Program, commonly referred to as Title XI. While the move applies to the U…
Orsted, the world's biggest offshore wind farm developer, trimmed its investment and capacity targets on Wednesday and paused dividend payouts as part of a major review.The Danish company has battled to restore investor confidence after halting the development of two U…
BP reported on Tuesday fourth-quarter earnings of $3 billion, exceeding forecasts thanks to strong gas trading, as the energy company increased the pace of its share repurchases.The quarterly results lifted the energy giant's 2023 profit to $13…
Chevron on Friday beat analysts' earnings estimates and increased dividends on higher oil and gas production, after a year of sharply lower profits on missteps and charges.Shares were up 2% in morning trading after the company beat analysts'…
Exxon Mobil on Friday posted a better-than-expected $36 billion profit for 2023, lifted by fuels trading and higher oil and gas production.Oil majors are expected to report 2023 profits down by about a third from record levels in 2022, as oil…
Orsted is expected to trim investment plans and cut dividends on Wednesday as it presents a new strategy but investors are worried that the Danish renewable energy firm may want to raise new capital to stick to its ambitious targets.Once a green investor darling…
The world's largest oil services company, SLB, said on Wednesday that it was recovering $560 million of the $1.015 billion it is owed by Pemex via a financial institution that had loaned the Mexican state company money.SLB, formerly known as Schlumberger…
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