Top News Items
The articles below are chosen by our recommendation engine, with bullet points extracted to enable you to quickly skim the content before deciding to go to the source.
Big Oil’s interest in renewable energy investments expected to waver: report
(CityNews Toronto)
- “In a US$60 per barrel oil price environment, most companies were generating strong cash flow and could afford to think about carbon mitigation strategies,” said Valentina Kretzschmar, vice-president, corporate analysis, at Wood Mackenzie.
- And companies that haven’t yet engaged in carbon reduction strategies are likely to put the issue on the back burner.
- Earlier this week, Calgary-based oilsands giant Suncor Energy Inc. announced it would cut its 2020 capital budget by 26 per cent or $1.5 billion in response to lower global oil prices linked to a price war between Saudi Arabia and Russia.
- Two previously approved projects were put on hold for as much as two years: A $1.4-billion plan to install two cogeneration units at its Oil Sands Base Plant in northern Alberta that would have reduced greenhouse gas emissions, as well as a $300-million wind power plant in southern Alberta.
Coal mining allowed under Sydney water reservoir for first time in 20 years
(The Sydney Morning Herald)
- “Our strong environmental performance has been confirmed by the Independent Expert Panel on Mining in the Catchment’s recent report that found the Metropolitan mine, 'displays no evidence of a connected fracture regime to surface,'” she said.
- Environmental groups were angry the nod was given even before Parliament got to debate a petition carrying 10,000-plus signatures opposed to the expansion.
- Signed in 2016, the Paris Agreement remains the most significant initiative to fight climate change.
- These goals are ambitious, given that the current trajectory and rate of carbon emissions would result in a warming of 3.5 degrees Celsius by 2100.
- In this report, we offer an overview of our analysis detailing the most cost-effective pathway for Japan to meet its commitments to decarbonization, the investment required to deploy the decarbonization technologies, and key enablers to get started.
Relevant Press Statements
Another option is to extract individual sentences relevant to your asset classes, investment thesis, or other topics. Below are examples of such statements; click the statement to visit its source.
Santos chief executive Kevin Gallagher on Monday said the ASX-listed company would cut its full-year capital spending by 38 per cent, or $550 million, and delay making a final investment decision on its $7 billion Barossa gas project off the coast of Darwin until business conditions improved. (The Sydney Morning Herald - Business)
Ottawa will soon announce a significant investment in Alberta - the heart of the country’s struggling energy sector - which will include funding to clean up orphan wells. (Reuters - World News)
Last week, the company cut its budget by 32 per cent, or by between $300 million and $500 million, as oil prices collapsed. (Financial Post - Top Stories)
Golden Energy and Resources: The mainboard-listed coal miner will not require shareholder approval for its A$70 million (S$59 million) investment in a joint venture to acquire a gold mine in Australia, it said on Monday. (Straits Times - Business)
The chief of $1.3 billion ethical super fund Future Super has sent a letter to clients outlining how the fund has managed to avoid the worst of the downturn and the recent addition of global green bonds to the portfolio has been a "safe haven" for global investors and has performed well in recent weeks. (The Sydney Morning Herald - Business)