Norway’s $1 trillion wealth fund is doubling down on its climate action by making deeper cuts to its fossil fuel exposure.
ABN Amro Bank NV reported its first quarterly loss since 2013 as the Dutch lender set aside 1.1 billion euros ($1.2 billion) to cover for soured loans caused by the Covid-19 crisis, its oil investments and a trading loss.
… coronavirus . The fund owned 1.2 per cent of Glencore, 2.4 per cent of Anglo American, 0.6 per cent of RWE and 0.5 per cent in Vale, making it a leading shareholder in all. Norway’s parliament has in recent…
Iraq is taking the lead in cutting oil supply to the prized Asian market as the global deal to curb output kicks in, an unusual move for OPEC’s second-biggest producer.
Europe’s development bank warned Wednesday that the coronavirus crisis would deal a “massive” economic blow this year to its investment zone, which is also reeling from collapsing commodity prices.
Mexico’s energy ministry is seeking to prioritize state-run utilities over new entrants to support supply stability, according to a draft proposal seen by Bloomberg News, a step that could place restrictions on expanding the country’s renewable power capacity.
Institutional Shareholder Services recommended that investors cast advisory votes against splitting the chief executive and chairman roles at Exxon Mobil Corp.
…just $1.4bn in April after the collapse in oil prices — less than half of the amount needed to cover public sector salaries. At $30 per barrel of oil , the IMF expects Iraq’s fiscal deficit to rise to 19…
The stress of low oil prices is clearly showing. But Saudi’s independent action signals the end of the oil cartel. That could keep prices low for a long time.
The author is an analyst of NH Investment & Securities.