In the first 10 months of 2023, S&P Oil & Gas E&Ps Index outperformed S&P 500 and SIGNIFICANTLY outperformed S&P Global Clean Energy Index.
Today October 31, 2023 - bp just booked a $540 million pretax impairment on its wind power projects offshore New York. Moreover, bp's offshore project partner, Equinor, also booked a $300 million impairment recently.
On the same day, Ørsted (previously known as DONG - Danish Oil and Natural Gas) took an impairment charge of approximately DKK 28.4 (US$4 billion) from its offshore wind projects. Kind of a new impairment record from the 2020 most sustainable company in the world.
Will more impairments come from those Big Energy firms in the years ahead? Is it time to cleaning up "Clean Energy"?
Also in your opinion, will clean energy slump continue in the last two months of 2023?
#alternativeenergy #sustainability #energy #oilgas #renewableenergy
Pipeline operator at Michels Corporation
1moInnovative!