Gas-fired power plants overtook lignite coal stations as Europe's largest power sector polluter in 2020 for the first time, data from the EU's Emissions Trading System shows. Energy think tank Ember said Friday that gas made up a record 34% of the power sector's total emissions last year. Carbon-dioxide emissions generated by burning gas to produce electricity fell to 236 million metric tons in 2020 from 250 million tons in 2019..
LONDON-- Oil giant BP PLC (BP) said it had a solid start to the year, aided by higher energy prices and strong results from its trading division, giving the first indication that major oil companies are on the road to recovery after pandemic-induced losses across the industry last year. The company said Tuesday it was on track to lower net debt to $35 billion in the first quarter, a level it has said could trigger share buybacks. BP previously said it expected to reach the target between the...
Eni SpA (E) said Tuesday that it signed a memorandum of understanding with Zhejiang Energy Group Co. to cooperate in the sector of gas and liquefied natural gas in China and internationally. The Italian oil-and-gas major said the cooperation includes developing a long-term LNG supply agreement as well as jointly participating in gas or LNG projects. "The MoU builds on the companies' shared goal of promoting a reduction in emissions by favoring a switch from coal to gas in the...
U.S. stocks wobbled between small gains and losses Monday, pressured by declines in shares of energy companies. The Dow Jones Industrial Average inched up 5 points, or less than 0.1%, to 32783, adding to its advance after finishing last week at a record. The S&P 500 fell less than 0.1%, and the Nasdaq Composite rose 0.2%.
Oil prices have staged a rapid recovery since the biggest crisis to strike the energy industry in decades. The Organization of the Petroleum Exporting Countries and its allies stepped in last spring to backstop the market by slashing production in the teeth of a collapse in crude prices. This week, the cartel is expected to reach a deal on unwinding some of those cuts.
International Business Machines Corp.' s stock is falling. The tech company, whose shares have declined steadily since peaking in 2013, slid 11% Friday after reporting a drop in sales for every quarter of 2020.. The stock move puts IBM's (IBM) performance among Dow components in a familiar spot: at the bottom.
News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.
PDF’s require Adobe® Reader® and will open in a new window.
