Saudi Aramco to Retain $75 Billion Dividend Despite Earnings Slump
State-oil giant Saudi Aramco said it would keep its $75 billion dividend pledge despite a 44% drop in its 2020 profit, as the coronavirus pandemic and a price war roiled global oil markets.
Oil Snaps 5-Session Losing Streak
WTI oil prices ended 2.4% higher at $61.42 a barrel, snapping a five-session losing streak and recouping some of yesterday’s 7.1% plunge.
U.S. Oil-Rig Count Rises by 9 in Latest Week, Baker Hughes Says
The number of rigs drilling for oil in the U.S. grew by nine in the latest week to 318, according to oil-field services company Baker Hughes.
Oil Investors Hunt for Cash Gushers
Investors are paying attention to how much cash energy companies can return to shareholders.
China Buys More Iranian and Venezuelan Oil, in a Test for Biden
Rising oil shipments to China followed President Biden’s offer of relief to Iran in return for the country’s compliance with an international nuclear agreement and to Venezuela if it organized free elections, officials said.
Energy & Utilities Roundup: Market Talk
The latest Market Talks covering Energy and Utilities
Oil Prices Fall on Fresh Fears of Dwindling Demand
Oil prices fell more than 7% on Thursday, recording their biggest one-day drop since September as traders weighed signs that demand in Europe could falter and data showing that crude remains plentiful.
National Grid Plots Exit From Gas With Major Electricity Buy
National Grid has agreed to buy Western Power Distribution, the U.K.’s largest electricity distribution business for GBP7.8 billion and sell a majority stake in its gas transmission operation.
Generate Capital Launches Credit Arm
Investment firm Generate Capital is expanding its credit investments in sustainable infrastructure, creating a dedicated group for the strategy.
AIA Group Pulls Trigger on Coal Investment Exit
AIA Group plans to divest itself entirely of its coal mining and coal-fired assets, in a move the insurer says will safeguard the sustainability of its investment portfolio.
(END) Dow Jones Newswires