In this second entry in the payback series, we look at actions taken by companies and governments to get back at unfair treatment by others. One of the most dramatic examples is Venezuela not paying back its debts to companies such as Conoco (COP) and to bondholders and preventing outside oil companies from doing business in the nation with the greatest amount of oil reserves worldwide. At first glance, it may appear that Venezuela got away with its efforts to take over...
The United States and Germany on Wednesday unveiled an agreement on the Nord Stream 2 gas pipeline under which Berlin pledged to respond to any attempt by Russia to use energy as a weapon against Ukraine and other Central and Eastern European countries.
The pact aims to mitigate what critics see as the strategic dangers of the $11 billion pipeline, now 98% complete, being built under the Baltic Sea to carry gas from Russia's Arctic region to Germany.
Former BP plc (NYSE: BP) chief executive officer and soon-to-be-retiring Glencore plc (OTC: GLNCY) chairman Tony Hayward is launching a new special purpose acquisition company (SPAC) focused on clean energy projects in Europe.
According to Sky News, Hayward's Energy Transition Partners seeks to raise 175 million euros ($207 million) with a listing on the Euronext Amsterdam stock exchange.
Royal Dutch Shell will boost returns to shareholders via share buybacks or dividends earlier than expected after a sharp rise in oil and gas prices helped it reduce debt, the Anglo-Dutch energy firm said on Wednesday.
Shell will increase its distribution to shareholders to 20% to 30% of cash flow from operations beginning in the second quarter, the company said in a trading statement before quarterly results.
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