Energy

Big Oil could be about to get a serious reality check

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A cyclist passes oil silos at the Royal Dutch Shell Pernis refinery in Rotterdam, Netherlands, on Tuesday, April 27, 2021.

Peter Boer | Bloomberg | Getty Images

LONDON — The month of May promises to be a ground-breaking one for Big Oil.

Oil and gas majors on both sides of the Atlantic are preparing to hold their annual shareholder meetings in the coming weeks. It comes at a time when the world’s largest corporate emitters are under immense pressure to set short, medium and long-term emissions targets that are consistent with the Paris Agreement.

At present, not a single oil and gas company is aligned with Paris-consistent emission reduction targets or investment levels more than five years…



Source cnbc.com

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