Oil storage tanks stand at the RN-Tuapsinsky refinery, operated by Rosneft Oil Co., in Tuapse, Russia, on Monday, March 23, 2020. Andrey Rudakov | Bloomberg | Getty Images Oil climbed on Wednesday, reversing most of the prior session's losses, as investors pinned hopes on a Thursday meeting where OPEC members and allied producers will discuss output cuts to shore up prices … [Read more...] about Oil prices jump as focus swivels to OPEC, Russia meeting on output cuts
Exxon cuts capital spending by 30%, but CEO says it's 'committed to maintaining' dividend
Exxon is slashing its 2020 capital spending plan as depressed oil prices hammer the energy sector, but CEO Darren Woods said that the company's dividend is safe for the time being. "A lot of our shareholders are retail shareholders — people who depend on that dividend — so we've been pretty committed to maintaining that and if necessary in the short-term using the … [Read more...] about Exxon cuts capital spending by 30%, but CEO says it's 'committed to maintaining' dividend
Amid disruptions from the coronavirus, wind turbine giant Vestas suspends guidance for 2020
Courtesy of Vestas Wind Systems A/S Danish wind turbine manufacturer Vestas has suspended guidance for 2020, as the coronavirus pandemic continues to pose unprecedented challenges to the renewable energy sector. In a statement issued Tuesday, the Aarhus-headquartered firm noted that the global spread of COVID-19 and national measures taken to contain it had caused … [Read more...] about Amid disruptions from the coronavirus, wind turbine giant Vestas suspends guidance for 2020
Wall Street strategist is skeptical of Russia-Saudi 'dance,' says investors should wait
Cantor Fitzgerald's global chief market strategist said Monday that he is skeptical of the "dance" between Saudi Arabia and Russia over oil production and that a deal from OPEC and its allies would likely not be enough to save struggling United States energy companies. "I'm really, frankly, not all that convinced that this is an all out fist-fight between Saudi Arabia and … [Read more...] about Wall Street strategist is skeptical of Russia-Saudi 'dance,' says investors should wait
The coronavirus is hitting renewable energy supply chains and factories, and could slow the global energy transition
imagean | E+ | Getty Images Global renewable energy capacity hit 2,537 gigawatts (GW) at the end of last year, an increase of 176 GW compared to 2018, but the coronavirus continues to cast a shadow over the sector's prospects for 2020, impacting both supply chains and manufacturing facilities. According to figures from the International Renewable Energy … [Read more...] about The coronavirus is hitting renewable energy supply chains and factories, and could slow the global energy transition