SHETLAND-focused Hurricane Energy has provided another boost to hopes there could be an oil boom in the area after enjoying a fresh drilling success. Hurricane said a well to appraise the Lincoln find had produced oil at the weekend. Noting speculation about a flare on the rig concerned it said: “A drill stem test on the Lincoln Crestal well has produced oil to surface.”
Herald 10th Sept 2019 read more »
The number of institutional investors committed to cutting fossil fuel stocks from their portfolios has risen from 180 in 2014 to more than 1,100 now, as activists turn up the heat on companies over climate change. The number of fossil fuel divestments have risen dramatically since the 2015 Paris agreement on combating climate change. In 2014, investors with a total $52bn in assets under management had agreed to shed their fossil fuel holdings. Now that group represents more than $11tn in total assets, according to a report from 350.org, an environmental organisation advocating for divestment. More than 900 additional investors, including asset managers, pensions and insurers, have pledged to divest since the year before the Paris accord.
FT 9th Sept 2019 read more »