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Oilindustry

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world7 months ago

Manitoba declares emergency as wildfires force evacuations and military aid arrives

Manitoba has declared a state of emergency and is evacuating 17,000 residents due to spreading wildfires, with federal forces assisting. Wildfires in Alberta have also led to evacuations and the shutdown of some oil and gas operations, including Cenovus Energy's facilities, as authorities monitor the evolving situation. The evacuations are the largest in Manitoba's recent memory, highlighting the severity of the wildfire crisis across central and western Canada.

via Reuters|
#canada#evacuations#manitoba
finance1 year ago

Top High-Yield Dividend Stocks to Buy and Hold for Long-Term Gains

Despite falling dividend yields due to a stock market rally, there are still attractive dividend stocks yielding over 4% to consider this December. Brookfield Renewable offers a yield over 4.5% with a strong growth outlook driven by inflation-linked rate increases, development projects, and M&A activities. Chevron, yielding just over 4%, has a robust dividend growth history and expects significant free cash flow growth, supported by its capital program and potential acquisition of Hess.

via Yahoo Finance|
#dividendstocks#finance#investment
environment-and-energy2 years ago

"Ex-Oil Executive Mukhtar Babayev Appointed to Chair COP29 Climate Summit"

Mukhtar Babayev, a former oil and gas industry executive and current Azerbaijan’s ecology and natural resources minister, has been appointed as the president-in-waiting for the upcoming COP29 climate summit. Despite his oil background and Azerbaijan's heavy reliance on fossil fuel exports, Babayev has experience in environmental protection, including soil remediation efforts. His appointment has raised concerns about the commitment to phasing out fossil fuels, but UN climate change executive secretary Simon Stiell has expressed support for working with Babayev to ensure a successful COP29.

via The Guardian|
##azerbaijan#climatechange
environment-and-energy2 years ago

"Ex-Oil Executive Appointed to Spearhead 2024 Global Climate Summit in Azerbaijan"

Mukhtar Babayev, a former oil executive with extensive experience in Azerbaijan's national oil company, has been nominated to lead the COP29 climate talks in Baku, Azerbaijan. Despite concerns over the influence of the oil industry on climate negotiations, his predecessor, Sultan al-Jaber, managed to secure agreements on transitioning away from fossil fuels at COP28. COP29 is expected to focus more on financial goals for climate action, but the appointment of another oil industry veteran has sparked criticism from climate activists who are calling for the exclusion of big polluters from the talks.

via BBC.com|
##azerbaijan#climatechange
business-and-finance2 years ago

Exxon Mobil Anticipates $2.5 Billion Writedown Following California Energy Exit

Exxon Mobil is set to incur a $2.5 billion impairment charge due to the sale of its California assets to Sable Offshore, amidst challenging state regulatory conditions that have affected oil production operations. This follows a similar announcement by Chevron, which is also facing writedowns due to California's stringent energy regulations, including a new margin penalty law against price gouging by oil companies. Both companies highlight the negative impact of such regulations on the industry's investment and production in the state.

via OilPrice.com|
##assetwritedown#business-and-finance