Oil firm appoints new CEO and hands him £775,000 salary

Energy sector at risk from U.S.-China flashpoints

The increasing geopolitical rivalry between the U.S. and China has more than a 50% chance of spilling over into some form of military confrontation in the year ahead. This could involve threats, posturing, or the actual use of force, as well as have serious implications for energy companies and markets.

Oil Search names new financial chief

Oil Search has named Peter Fredricson as chief financial officer effective 23 March 2021 as the Australian-listed company pushes growth projects in Papua New Guinea and Alsaka.

Big questions marks over ExxonMobil’s reserves

As expected, COVID wrought havoc with earnings, leaving ExxonMobil with an enterprise-wide return on capital employed of minus 9.5%. But the real story was not in the income statement; it was the estimate of oil reserves.

Chinese oil majors undervalued

Analysis from investment house Bernstein suggests that the Chinese oil majors – CNOOC, Sinopec and PetroChina – offer a potential 30% upside as they trade at a wide discount to historic prices and global peers.

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Oil firm appoints new CEO and hands him £775,000 salary