06 Nov, 23

Oil Industry Under Pressure As Net Zero Goals Loom

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Energy giants BP and Shell unveiled sharp downturns in their usual earnings last week in a rocky third quarter for the sector, with the oil and gas industry failing to match last year’s record profits. While oil prices have recently rallied following Hamas’ attack on Israel and gas prices have bounced amid sustained industrial action at Australian LNG plants, commodity prices have cooled significantly since Russia’s invasion of Ukraine – which is now being reflecting in the bottom lines of fossil fuel majors. London-listed…

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