The American oil and gas giant Exxon Mobil had one of the worst years in its history. Exxon shares have fallen by 45.36% since the beginning of 2020. The company has lost money for three quarters in a row, and in August they were excluded from the benchmark index of “blue chips” Dow Jones Industrial Average. Soon they were replaced by shares of technology company Salesforce.com.
In addition, the COVID-19 pandemic has created an unprecedented crisis in the energy sector, and governments in many major countries are relying on environmental energy and renewables.
Experts predict that the demand for travel and flights will remain subdued for a long time, which creates high uncertainty in the oil and gas industry. The current crisis is very different from all previous ones, which were usually caused by oversupply or reduced demand.
US giant oil and gas producer Exxon Mobil has reported the largest depreciation of its gas assets of $ 17 billion – $ 20 billion amid falling energy prices this year. Previously, the largest write-off of Exxon’s assets was about $ 3.4 billion in 2016.
The assets of the American shale company XTO Energy, which Exxon bought in 2010 for $ 35 billion, were depreciated. At the time, the decision and the amount of the deal seemed rational, as Exxon received “ready assets” instead of spending years starting its own shale business. At the time, gas price prospects in North America were optimistic as demand grew faster than supply. However, natural gas prices in 2020 fell the biggest obstacles in the last decade.
Shares of Pfizer and BioNTech fell 1.74% and 2% (respectively) on Thursday amid news that companies will deliver half of their planned number of vaccines against COVID-19 in 2020. On November 20, Pfizer and its German partner BioNTech applied to the FDA (US Food and Drug Administration) for permission to use their vaccine in an […]
World debt will reach $ 200 trillion, which is 265% of world product, but the debt crisis is not yet expected. This was reported by Reuters, citing the forecast of analysts of the international rating agency S&P Global. It is claimed that this year the debt-to-world debt ratio has risen by 14% as a result […]
Johnson & Johnson plans to complete the third phase of trials of its single-dose vaccine against COVID-19 in mid-January 2021. Paul Stoffels, vice chairman of the executive committee, senior scientific expert at Johnson & Johnson said they plan to deliver to market 1 billion doses. “We are in the middle of the third phase of […]
The American company Pfizer and the German BioNTech have applied to the European Medicines Agency for registration of their coronavirus vaccine. The announcement was published on the BioNTech website. “On Monday, November 30, Pfizer and BioNTech filed a formal application with the European Medicines Agency for a conditional authorization to use their COVID-19 candidate vaccine […]
The National Bank did not go out this week with interventions on the interbank market, according to the press service of the regulator on Friday, November 27. The Central Bank has been refusing to buy or sell currency for three weeks in a row. At the same time, since the beginning of the year, the […]
Last week, from November 16 to 22, more than 4 million people in the world became infected with the new type of coronavirus, which is a record number since the beginning of the pandemic. This was announced on Tuesday, November 24, the press service of the World Health Organization. According to the WHO, in these […]
With the appearance of an effective vaccine against coronavirus and the subsequent recovery of the world economy, the US dollar may fall by 20%. This was reported by the Financial Times. It is noted that banks, which already had negative forecasts for the dollar next year, deteriorated expectations against the background of the emergence of […]
The new Tesla factory in Berlin may release the first electric cars next month. CEO Elon Musk stated this. Speaking at the plant, Musk said he hoped to get the green light to begin production in the coming weeks. The last consultation on public concern about the plant ends on October 14, after which the […]Next
The Supervisory Board of the state-owned PrivatBank has elected Gerhard Bösch as the new Chairman of the Board. This was announced on Thursday, May 27, the press service of the bank. It is noted that Bösch will take office after the approval of his candidacy by the National Bank of Ukraine. According to the press […]Next
Experts from Bank of America have admitted that the shares of the video service Zoom in the coming year may grow by 47%, writes CNBC. The TV channel quotes an analytical note of the bank. Bank of America has renewed the recommendation to buy Zoom securities. He set a target value for the company’s securities […]Next
LET’S GO GREEN 2016 has set two opposing energy records. According to the International Energy Agency (IEA), oil production has fallen to a minimum level over the past 70 years. Mining companies continue to reduce costs associated with low oil prices. Mining has dropped to 2,4 billion barrels in 2016, compared with the average indicator […]Next
Ukrainian IT company the Archer Software has announced an agreement with the American company Cprime. This was reported on the company’s website. The amount of the deal is not disclosed, but the publication Ain says, “According to experts, 100% of the company could be valued at 5-8 million dollars.” But the transaction amount may vary […]Next
The alliance between the two companies has been existing for 15 years, but for now the direction of companies expect for closer cooperation. It is supposed to create a single platform, which will produce 70% of Nissan and Renault cars (now there are 10% of manufactured machines), in fact, both brands are planning to release […]Next
Boeing has identified the need to refine the 787 Dreamliner aircraft, which are awaiting delivery to customers – it will take some time. This is stated in the company’s quarterly report. Production of the Boeing 787 will be less than five units per month for some time and will gradually return to a monthly level […]Next
Traditionally, it is considered that the shares of pharmaceutical and biotech corporations are effectively protected from the global financial crises. The asset growth inevitably accompanies any, even insignificant, success of drug manufacturers. And the pandemic period has caused an unprecedented wave of investments in the pharmaceutical business. Due to Dmytro Shymkiv’s explanation, the head of […]Next
The European regulator on personal data protection has sent a preliminary order to American Facebook to stop the transfer of data of its users in the United States, according to the Wall Street Journal, citing sources familiar with the situation. “The EU’s privacy regulator has sent a preliminary order to Facebook for suspending the transfer […]Next
The head of the representation of the IFC said that the company annually invests approximately $ 200-300 million in the Ukrainian agriculture. This year the amount will remain the same. At this stage, the corporation, as a long-term investor, has suspended its capital investment. This year not many people risked to make serious long-term investments. […]Next
UIA, the largest airline, suffered UAH 4.5 billion in losses last year, compared to UAH 1.6 billion in profit a year earlier. It is said in a statement. It is noted that in 2020, UIA’s assets decreased from UAH 14.9 billion to UAH 9.2 billion, total receivables increased to UAH 1.619 billion from UAH 969 […]Next
Startups European market by the number of attracted investments only gives place to America and China markets. According to the analysis, which is carried out the investment bank of France Clipperton and resource Who Got Funded, it increased the number of transactions up to $ 30 million last year, which graded decline in the proportion […]Next
In the first quarter of 2021, PrivatBank’s profit amounted to UAH 2.4 billion, which is 4.3 times less than in the same period last year (UAH 10.4 billion). This was reported on the bank’s website. “Changes in the world economy and Ukraine’s economy, first of all, the growth of yields on long-term US government treasury […]Next
Group of companies Milk Alliance was the first among dairy companies in Ukraine that complied the order of the Bulgarian partner for the industrial supply of milk products. “This order is a test in order to study the demand and taste preferences of consumers. The products will be available in specialty stores focused on the population of the CIS […]Next
Ukrainian banks have already issued UAH 8 billion in available loans under the “5-7-9” program. This was announced by Finance Minister Serhiy Marchenko on the talk show “Freedom of Speech of Savik Shuster”. “Today, 80 coins from the hryvnia loans are provided under the program of ” 5-7-9 “. UAH 8 billion and 3,000 loans […]Next
The court ordered the Sonders Trading K / S Co., Limited, Hong Kong company $ 6,92 million in favor of “State Food and Grain Corporation of Ukraine” (SFGCU), JSC. This is stated in the decision of the Commercial Court of Kyiv on January, 18. On November 1, 2013 SFGCU signed an agreement with the Neslot […]Next