Chesapeake Energy Corp, the oil and gas exploration and production company that helped spearhead the U.S. shale revolution, has tapped debt restructuring advisers amid a rout in energy prices.
Reuters 16th March 2020 read more »
BP over a barrel from oil price war and coronavirus shock. BP’s dividend faces the chop following the plunge in oil prices.
Times 17th March 2020 read more »
The UK government’s export credit agency has fallen foul of OECD guidelines by offering multibillion-pound support to fossil fuel projects overseas despite global efforts to tackle the climate crisis, according to a campaign group. Global Witness has accused the UK of “rank hypocrisy” in a complaint to the Organisation for Economic Cooperation and Development (OECD), a Paris-based thinktank that issues guidelines and recommendations for developed economies. The complaint also calls on the government to axe all overseas financial support for fossil fuels. The complaint argues that the UK’s foreign credit agency, UK Export Finance (UKEF), has breached the OECD’s guidelines for multinational enterprises by failing to take the climate crisis into account.
Guardian 17th March 2020 read more »