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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Ørsted forced to delay coal phase out

The Danish authorities have ordered Ørsted to continue operations of one coal fired power plant and resume operations on two others until 2024. The utilty maintains aim of CO2-neutrality in 2025.

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