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Exxon drops to 15-year low ahead of ‘strategy meet’

Bloomberg Exxon Mobil Corp fell to a 15-year low amid a broad selloff in equity and commodity markets and just over a week before CEO Darren Woods is scheduled to present the oil explorer’s long-term strategic plan to investors and analysts. The shares have been under pressure since Exxon disclosed disappointing fourth-quarter results in late January and prospects for a ...

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BP’s bold climate proposal may not add up to net zero

Bloomberg After months of planning, BP’s new CEO Bernard Looney made his big green pitch: Europe’s second-largest oil company will cut its emissions to net zero by 2050, he said earlier this month. Many thought that made BP the world’s first supermajor to take responsibility for all its emissions. It did not do that. Every company has three types of ...

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Chinese clean energy company starts $8.3bn of renewable power projects

Bloomberg China Three Gorges New Energy Co, a state-owned clean energy developer, has started construction of 25 renewable power plants in an investment worth $8.3 billion. The projects will have a combined capacity of 3.92 gigawatts, the company said in a WeChat statement. The plants will be built in 14 provinces including Guangdong, Jiangsu, Fujian, Ningxia and Hebei, it said. ...

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