Climate change could rain on Saudi Aramco's IPO parade
Tuesday, August 20, 2019, 7:20 PM
Saudi Aramco's biggest asset could also be a liability. The state-energy giant's vast oil reserves it can sustain current production levels for the next 50-years make it more exposed than any other company to a rising tide of environmental activism and shift away from fossil fuels. Aramco told Reuters it was ready for a listing and the timing would be decided by the government.
BP says quarterly profit sinks on lower oil prices
Tuesday, July 30, 2019, 8:02 PM
BP's profits slumped by 35 percent in the second quarter on the back of sliding crude oil prices, the British energy major said on Tuesday. Profits after taxation tanked to $1.8 billion (1.6 billion euros) in the three months to the end of June from $2.8 billion a year earlier, BP said in a results statement, adding that this partly "reflects lower oil prices".