While companies including Exxon Mobil, Chevron and ConocoPhillips have announced steps to tackle climate change, S&P said it does not see those “providing material credit differentiation.”
Occidental Petroleum CEO Vicki Hollub’s salary was restored to $1 million, effective Jan. 1, with the move coming at a time when WTI crude futures in the U.S. have touched a year high.
The newly formed Alternative Energy Group within Energy Transfer will be led by Tom Mason and continue the Dallas-based pipeline operator’s focus on renewable energy projects that started in 2019 with a Permian Basin solar deal.
Marathon Oil has laid off around 100 U.S. employees, or about 5% of its total workforce, a spokeswoman for the Houston-based oil and gas producer said Feb. 11.
Brookfield, which owns and operates assets in the utilities, transport and storage sectors, said it has acquired 19.65% economic interest in Inter Pipeline, to become its top shareholder.
Global supermajor Royal Dutch Shell will still rely on revenue from its oil and gas division to pay for shareholder returns and the energy transition.
Following the acquisition of Seven Generations by ARC Resources, the combined company will become the biggest operator in western Canada’s premier Montney shale play.
The sale will help Tullow Oil reduce its $2.4 billion debt pile, which is around four times the size of its current market cap of $577 million.
Alongside its emergence from bankruptcy, Chesapeake Energy also unveiled a commitment to achieve net-zero greenhouse gas direct emissions by 2035 among other environmental targets.