Britain ‘less investable than Venezuela', says North Sea boss [Yahoo! Finance]
Exxon Mobil Corporation (XOM)
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Source: Yahoo! Finance
Jim Johnson, the chief executive of engineering group Hunting, criticised ministers for adopting a religious zeal around cutting greenhouse gas emissions , which he said had left Britain “like the Venezuela of the North Sea”. “The problem in the UK is that its politicians treat carbon reduction like a religion,” he said, accusing Ed Miliband, the Energy Secretary, in particular of having a “ridiculous approach to the energy transition”. “In investment terms Britain is like the Venezuela of the North Sea. It's uninvestable .” Mr Johnson, an American, compared the UK's offshore oil and gas sector to Venezuela – which contrary to much recent “hype” , he regards as an impossible place for new investment. Despite boasting the largest reserves on Earth, Venezuela's oil industry has become one of the world's most dysfunctional. After his seizure of Nicolás Maduro, the Venezuelan president , Donald Trump has promised to spend billions to upgrade creaking infrastructure. However, oi
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News
- ExxonMobil to Release Fourth Quarter 2025 Financial ResultsBusiness Wire
- Trump could win his battle with Jerome Powell. He still might lose his war with rates. [Yahoo! Finance]Yahoo! Finance
- Why unlocking Venezuelan oil won't mean much for US energy prices [Yahoo! Finance]Yahoo! Finance
- Oil prices jump as ‘tankers hit by drones' [Yahoo! Finance]Yahoo! Finance
- Markets Price Chaos as Oil Finds Its Footing [Yahoo! Finance]Yahoo! Finance
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