bigoil
A damning new report has accused Big Oil of privately acknowledging its efforts to downplay the dangers of burning fossil fuels - while publicly stating they were opposed to the practice. The report, headed up by the Democrats on the House Oversight Committee in the United States, says oil giants including ExxonMobil and Chevron - as well as several industry trade groups - were behind a campaign aimed at defending the industry's interests. They claim this has all been done at the expense of the planet. "Big Oil has run campaigns to confuse and mislead the public while working unceasingly to lo...
Euronews (English)
For decades, the tobacco industry misused science to hide the harms of its products and create confusion about the interventions needed to reduce that harm; it lobbied to avoid regulation and shape policies in its favour. Growing evidence shows that the fossil fuel industry not only uses exactly the same techniques but has also worked jointly with the tobacco industry to shape regulatory rules in their shared interest. Yet, the two industries are treated entirely differently when it comes to policy-making: while there are rules protecting policymaking from the tobacco industry — a firewall kno...
Euronews (English)
The European Commission has been urged not to rush through legislation defining when a fuel can be considered ‘low-carbon’, a question that will determine what technologies qualify for policy and financial support, with far-reaching implications for the future of the natural gas industry. Following a political agreement with government delegates late last year, the European Parliament is expected to adopt next week a Gas and Hydrogen Markets Directive, which will give the EU executive one year to answer the complex question of what constitutes a ‘low-carbon’ fuel. Environmental groups, joined ...
Euronews (English)
At the time of writing, TotalEnergies stock was down 1.23% at €59.45 on the London Stock Exchange, reflecting investor sentiment after the company reported its latest Q4 earnings results. The energy giant said adjusted net income fell 31% in Q4 from a year earlier to $5.23 billion (around €4.8bn), missing the average analyst estimate of $5.66 billion (around €5.2bn), due to weaker oil and gas prices and shrinking refining margins. BP sees profits for 2023 plunge, but still second highest in decadeTotalEnergies shares 2024 outlookIn its outlook for 2024, the energy giant acknowledged the uncert...
Euronews (English)
British Petroleum (BP) released its Q4 2023 results on Tuesday. The company announced a $13.8 billion (€12.85 billion) underlying replacement cost profit, also considered a proxy for net profit, for the full year 2023. This figure was supported by industry refining margins being considerably lower, as well as gas trading picking up steam. Although 2023's full-year profit was about half that of 2022's $27.7 billion (€25.8 billion), when energy prices spiked due to the Russia-Ukraine war, it was still the second highest number in about a decade. However, it also missed analyst expectations of $1...
Euronews (English)
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