EnergyWatch

Global oil majors squash low oil price and accelerate earnings

Rising energy prices and intense focus on trimming costs boosted many oil companies above analyst expectations in their Q2 interim reports released last Thursday and Friday. However, even oil execs are starting to turn away from fossil fuels and drive electric cars.

Photo: ritzau/Vahid Salemi/AP

An oil executive in an electric car?

It may sound contradictory, but that's the vehicle chosen by the CEO of Europe's largest, listed oil company, Royal Dutch Shell, according to an interview with Bloomberg last week.

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Nel books another operating deficit

Despite achieving a positive bottom-line figure in this year’s first quarter, Nel Hydrogen books yet another substantial operating deficit in the second quarter, albeit improving the result against the same period last year.

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