A historic crash in oil prices and fallout from the coronavirus pandemic will accelerate asset sales in the Middle East and open up a gap for sovereign wealth funds to make “opportunistic investments,” according to HSBC Holdings Plc.
A UK solar energy firm has secured almost £50 million in financial backing to build two large-scale solar farms in Spain.
BP has revealed the identity of its new company secretary following the retirement of David Jackson at the end of this year.
A UK renewables developer is to manage a £250 million investment from a leading world bank pension scheme.
HSBC bosses were pressed by shareholders on Friday over the lender’s new energy policy and worries over gender balance at the UK-headquartered lender.
A climate change group will stage a protest in Aberdeen over banks’ support for pipeline projects in North America.
Saudi Arabia’s economy is set to grow this year at the slowest pace since 2002 as the oil-price plunge drains the kingdom’s finances, according to projections released by the International Monetary Fund and HSBC.
In the months since Brazil’s largest bribery scandal broke, bond investors have fled companies tied to the alleged kickbacks. They’ve been far too hasty, according to HSBC Holdings Plc and Mizuho Securities USA. Odebrecht Offshore Drilling and Queiroz Galvao Oil & Gas Constellation are a case in point. Their securities have plunged at least 27% since November 13, when federal police said they found “strong evidence” that at least seven builders, including the parent companies of the two oil-rig providers, formed a cartel to win public contracts. To Mizuho’s John Haugh, the bonds are now a buy because the terms that govern them will likely shield the issuers from any punishment the parent companies may face if they’re found guilty of bribing Petroleos Brasileiro SA, the state oil company.