Exploration and production customers have canceled more than $4 billion of future work for offshore rig owners globally, Chief Executive Officer Marc Edwards said Monday on a first- quarter earnings conference call.
Saudi Arabia is pumping near-record amounts of crude, leading the Organization of Petroleum Exporting Countries in a policy of maintaining output to pressure suppliers outside the 12-nation group to help tackle an excess.
The Church of England will dump its holdings in coal and oil-sand producers and has ruled out backing companies with exposure to the most polluting fossil fuels, joining the movement that wants investors to help fight climate change.
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