Secretary Oil Brutal
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Secretary Oil Brutal
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Oil Companies Endure Brutal 2020, Warn of Slow 2021 Recovery
Exxon, BP and others notched one of their worst annual performances as the pandemic crushed demand for fossil fuels
More Money Is Flowing Into Green Energy Than Ever Before. Here’s Why.
More Money Is Flowing Into Green Energy Than Ever Before. Here’s Why.
The big international oil companies are reporting one of their worst annual performances in decades and signaling that the pandemic could continue to challenge their businesses in 2021.
Exxon Mobil Corp. and BP PLC on Tuesday disclosed annual losses of $22 billion and $18.1 billion respectively, following Chevron Corp. , which on Friday reported a $5.5 billion loss for 2020.
Exxon posted its fourth consecutive quarterly loss for the first time in modern history, driven by a more than $19 billion write-down. Excluding the impairment, Exxon turned a quarterly profit of $110 million.
BP reported a replacement cost profit—a metric similar to the net income figure that U.S. oil companies report—of $825 million for the three months ended Dec. 31, from a loss of $4 million in the year-earlier period.
Covid-19 has sapped demand for oil, hitting prices and prompting the world’s biggest energy companies to slash spending, cut jobs and write down the value of their assets. Amid the crisis, Exxon and Chevron discussed a merger of the U.S. oil giants last year, according to people familiar with the matter, although the talks didn’t progress.
Politics
Oil Companies Endure Brutal 2020, Warn of Slow 2021 Recovery - WSJ
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A Russian teenager thought to be Vladimir Putin’s secret daughter has posted an extraordinary ‘make love, not war' message, in the wake of street protests which saw 5,100-plus arrests by heavily armed police.
Elizaveta Krivonogikh, 17, also appeared to show her disapproval of the crackdown on free speech by posting a picture of a poster from a 1989 demonstration carrying the message: "Let’s melt police rubber batons to make condoms.”
Her social media posts come amid evidence that many of her generation are actively backing jailed opposition leader Alexei Navalny’s calls for mass demonstrations against her “father”.
Videos showed baton-wielding riot police brutally suppressing the demonstrations in cities across Russia’s 11 time zones with especially ugly clashes in St Petersburg, where Elizaveta lives.
Among those detained then released in Moscow was Navalny’s wife Yulia, 44, who is now due in court and may face a 15-day prison sentence.
Journalists trying to cover the unrest were also held.
Protesters shouted ‘Putin is a thief’ and demanded ‘freedom’ from his ‘authoritarian rule’.
A poll showed that 76 per cent at yesterday’s rally in St Petersburg were aged under 35, and almost 40 per cent under 25.
New protests have been called for Tuesday when Navalny - Putin’s best-known critic who was last year poisoned with nerve agent novichok - is due in court and could face a long jail term.
The black-and-white glasnost-era poster shared by Putin ‘daughter’ Elizaveta - also known as Luiza - was from a demonstration against Communist Party repression two years before the Soviet Union collapsed in a revolution against its despotic rule.
The teenager has so far not commented on claims she was born from Putin’s secret extramarital affair with cleaner-turned-multimillionaire Svetlana Krivonogikh, 45, who is now a shareholder with a major Russian bank.
Her mother - also the alleged owner of lavish property in Russia - has remained silent.
Navalny recently highlighted the claims about Putin’s love child, claiming her mother’s rich lifestyle - as well as a £1billion Black Sea palace he said belonged to Putin - were funded by corrupt use of state money.
The Kremlin has denied corruption, insisted the palace is not Putin’s, and blamed the “provocative yellow press” for “unconvincing epistolary” in relation to the Krivonogikhs.
Russian state TV claimed the palace was owned by Putin’s childhood friend and judo sparring partner, oligarch Arkady Rotenburg, 69, who would convert it into a hotel, and alleged Navalny’s film was an act of “foreign sabotage” from Western secret services seeking to damage the Kremlin leader.
TV anchor Dmitry Kiselyov alleged Navalny’s YouTube film was a piece of 'Goebbels propaganda’ with ‘cartoon fakes’ that was ‘clearly a German production’.
It was supposed to be a "information bomb about Putin”.
“Navalny’s film about Putin’s palace is a foreign sabotage with not a single word of truth,” said staunchly pro-Kremlin Kiselyov.
“The offscreen text was originally written in English and then badly, with Anglicisms translated into Russian. This was explicitly proved by linguistic expertise.”
He said on his weekly show: “Navalny showed something that didn’t exist, presenting computer graphics as reality, counting on the fact that children or infantile adults these days confuse reality with drawings. “Navalny lies seamlessly. “If this uses so much computer graphics and photoshop, where is the guarantee that other documents are real? Who will believe it?”
He claimed: “Putin embodies Russia, its strength and its freedom. There is no paradise in the world.
“But Russia under Putin’s leadership is a sovereign and independent state.”
Moscow strongly rejected Western criticisms of its crackdown, complaining of “crude interference in Russia's internal affairs”.
US secretary of state Antony Blinken condemned the “persistent use of harsh tactics against peaceful protesters and journalists by Russian authorities for a second week straight”.
Foreign Secretary Dominic Raab called on the Kremlin “to respect people's right to peaceful protest”.
Putin’s spokesman accused the West of having “simply tossed in the garbage" the potential to improve relations with Russia by its criticisms.
Russian Orthodox Church head Patriarch Kirill claimed the protests showed young people were “literally going mental and losing all life guidelines”.
He demanded parents instil the ‘right believes’ in their children to overcome the “current crisis of the young generation”.
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