U.S. stocks were mixed after the close on Friday, as gains in the Consumer Goods, Utilities and Financials sectors led shares higher while losses in the Technology, Basic Materials and Telecoms sectors led shares lower.
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The best performers of the session on the Dow Jones Industrial Average were Nike Inc (NYSE:NKE), which rose 15.53% or 20.75 points to trade at 154.35 at the close. Meanwhile, UnitedHealth Group Incorporated (NYSE:UNH) added 1.49% or 5.94 points to end at 404.81 and Procter & Gamble Company (NYSE:PG) was up 1.43% or 1.90 points to 134.92 in late trade.
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OPEC, Russia seen gaining more power with Shell Dutch ruling
Defeats in the courtroom and boardroom mean Royal Dutch Shell, ExxonMobil and Chevron are all under pressure to cut carbon emissions faster. That’s good news for the likes of Saudi Arabia’s national oil company Saudi Aramco, Abu Dhabi National Oil Company and Russia’s Gazprom and Rosneft.
It means more business for them and the Saudi-led Organization of the Petroleum Exporting Countries (OPEC).
“Oil and gas demand is far from peaking and supplies will be needed, but international oil companies will not be allowed to invest in this environment, meaning national oil companies have to step in,” said Amrita Sen from Energy Aspects consultancy.
Dmitry Zhdannikov
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The Royal Dutch Shell logo is seen at a Shell petrol station in London, January 31, 2008. REUTERS/Toby Melville/File Photo
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Climate activists who scored big against Western majors last week had some unlikely cheerleaders in the oil capitals of Saudi Arabia, Abu Dhabi and Russia.
Defeats in the courtroom and boardroom mean Royal Dutch Shell (RDSa.L), ExxonMobil (XOM.N) and Chevron (CVX.N) are all under pressure to cut carbon emissions faster. Thatâs good news for the likes of Saudi Arabiaâs national oil company Saudi Aramco (2222.SE), Abu Dhabi National Oil Company and Russia s Gazprom (GAZP.MM) and Rosneft (ROSN.MM).