Big Oil’s bid to lure back investors with cash could ultimately fail

Published

4 years ago

August 18, 2021

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ExxonMobil Corp. and Saudi Basic Industries Corp. (Sabic) Gulf Coast Growth Ventures petrochemical complex under construction in Gregory, Texas, U.S., on Wednesday, July 28, 2021.

Eddie Seal | Bloomberg | Getty Images

LONDON — The world’s largest oil and gas majors are seeking to lure back investors by returning more cash to shareholders. Market participants, particularly those looking to the long term, remain highly skeptical.

It comes at a time when oil and gas companies are raking in their highest profits since the onset of the coronavirus pandemic amid a sustained period of stronger commodity prices.

A robust showing in the three months through June built on better-than-expected first-quarter earnings and lent further support to the industry’s efforts to pay down debt and reward investors.

In the U.S., ExxonMobil said late last month that it would back shareholder returns through its dividend and Chevron announced it would resume share buybacks at an annual rate of between $2 billion to $3 billion.

In Europe, meanwhile, the U.K.’s BP, France’s TotalEnergies, Norway’s Equinor, Italy’s Eni and Anglo-Dutch oil giant Royal Dutch Shell all announced share buyback programs or increased dividend payouts — or both. It reflects a broader industry trend of energy majors seeking to reassure investors that they have gained a more stable footing amid the ongoing Covid-19 crisis.

Share buybacks are designed to boost the firm’s stock price, benefiting shareholders. Dividend payments, meanwhile, reflect a token reward to shareholders for their investment. Both are options available to a company seeking to reward investors.

These investments are likely to become stranded assets, and investors don’t want to be left holding the bag.

Kathy Hipple

Finance professor at Bard College

Ahead of the second-quarter results, energy analysts had warned that Big Oil still faced a host of uncertainties and challenges. Some of these include the remarkable success of shareholder activism in recent months, a “tremendous degree” of ongoing investor skepticism and intensifying pressure to massively reduce fossil fuel use.

“Day traders may reap short-term profits, but serious long-term investors have concluded that the old energy of the past — oil and gas extraction, is just that — old, with a sell-by date that is moving closer by the day,” Kathy Hipple, finance professor at Bard College in New York, told CNBC via email.

“Once institutional investors determine that demand has peaked — which likely has already happened — they will abandon the sector permanently,” she added. “Many already have, based on the stock performance of the sector over the past several years.”

IPCC report a ‘death knell’ for fossil fuels

The energy sector, alongside financials, is one of this year’s top performers on the S&P 500, up almost 30% year-to-date. Yet, share prices of many oil majors continue to trail the earnings outlook considerably.

In the U.K., for instance, BP has seen its stock price climb nearly 20% so far this year, but the oil and gas giant recorded a collapse of more than 47% in 2020. BP has previously described 2020 as “a year like no other” due to the impact of the Covid-19 crisis on global energy.

Oil prices have since rebounded to near $70 a barrel and all three of the world’s main forecasting agencies — OPEC, the IEA and the U.S. Energy Information Administration — expect a demand-led recovery to pick up speed through to 2022.

Hipple said that savvy long-term investors would shy away from oil and gas majors “unless and until” they fully acknowledge the climate crisis. “These investors understand that the oil majors are still investing tens of billions in unnecessary oil and gas infrastructure, ignoring the IEA findings that no additional infrastructure is possible to meet a 1.5 [degrees Celsius] scenario,” Hipple said, referring to a critically important target of the Paris Agreement.

“These investments are likely to become stranded assets, and investors don’t want to be left holding the bag.”

Last week, the world’s leading climate scientists delivered their starkest warning yet about the deepening climate emergency. The Intergovernmental Panel on Climate Change’s landmark report warned a key temperature limit of 1.5 degrees Celsius could be broken in just over a decade in the absence of immediate, rapid and large-scale reductions in greenhouse gas emissions.

U.N. Secretary-General, António Guterres, described the report’s findings as a “code red for humanity,” and said it “must sound a death knell” for coal, oil and gas.

Energy majors are typically still overwhelmingly reliant on oil and gas revenues for their earnings — a concept that is irreconcilable to the demands of the climate emergency.

“We frankly just don’t think these are very good businesses,” David Moss, head of European equities at BMO Global Asset Management, told CNBC’s “Street Signs Europe” on Friday.

European energy majors are currently generating “very strong” cash flow following a sustained rebound in oil prices, Moss said, but noted that many are choosing to keep spending relatively tight rather than invest in future production projects.

“With the oil companies, we still just don’t think they represent good long-term businesses,” Moss said. “They don’t generate consistent returns on capital or cash flow, albeit at the moment they look to be in a pretty good place.”

Not everyone is as downbeat on the outlook for the oil and gas industry, however.

Rohan Reddy, analyst at Global X, a New York-based provider of exchange-traded funds, says there are currently a number of positive signs for energy majors, citing rising stock prices, an upswing in second-quarter earnings and increased shareholder distributions.

“Right now, the energy sector is the best performing one within the S&P 500 and many European markets, and even though some of the big majors like BP and Shell have lagged the broader energy sector, we think right now that’s just due to hesitancy around the delta [Covid] variant,” Reddy told CNBC on Aug. 11.

“We think there is going to be a lot more investors starting to pile into to some of those big energy names.”

The new Nissan LEAF gets a price cut thanks to the UK EV grant

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3 hours ago

November 21, 2025

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The new Nissan LEAF gets a price cut thanks to the UK EV grant

Nissan announced the new LEAF will start at just £32,249 in the UK after it became eligible for the maximum discount under the government’s Electric Car Grant.

The new Nissan LEAF gets a price cut with UK EV grant

After the UK government expanded the Electric Car Grant program on Friday, drivers will be able to save £3,750 ($4,900) on the new Nissan LEAF.

Nissan announced that the new 2026 LEAF will start at £32,249 ($42,200), including the grant. The government said in a press release that the discount will help boost Nissan’s sales, while also supporting jobs and UK manufacturing.

The new LEAF is on sale, and Nissan plans to begin production at its Sunderland plant in December. The first customer deliveries are scheduled for February.

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Nissan’s new LEAF will be available in four trims: Engage, Engage +, Advance, and Evolve. Initially, all versions will be equipped with a 75 kWh battery, providing a range of up to 386 miles (WLTP). Nissan said a cheaper 52 kWh battery pack will be available, delivering a range of up to 271 miles, which could bring prices under £30,000 ($39,300).

Nissan-new-LEAF-price — The new Nissan LEAF (Source: Nissan)

With 150 kW DC fast charging, the new LEAF can add 273 miles in about 30 minutes. It’s also the first vehicle to feature Nissan’s new 3-in-1 electric powertrain, boasting 160 kW (215 HP) and 355 Nm of torque.

The interior is revamped with new dual 12.3″ driver display and navigation screens with Google built in. Upgrading to the Engage+ or higher trim gets a bigger 14.3″ multimedia screen.

Nissan-new-LEAF-UK-price — The interior of the new Nissan LEAF (Source: Nissan)

Including the new grant, the LEAF Engage+ trim is priced from £33,149, the Advance starts at £34,249, and the Evolve trim from £36,249.

For those in the US, the 2026 Nissan LEAF has the “lowest starting MSRP for any new EV currently on sale,” starting at just $29,990. It’s available in three trims: S+, SV+, and Platinum+, offering up to 303 miles of range. That’s a 25% improvement from the outgoing model.

Interested in checking it out for yourself? You can use our link to find available 2026 Nissan LEAF models near you.

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NAVEE ST3 Pro, loaded with power and comfort, 20% off for Black Friday

Published

3 hours ago

November 21, 2025

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NAVEE ST3 Pro, loaded with power and comfort, 20% off for Black Friday

Looking for a smarter, cooler, and genuinely more comfortable way to commute this winter? The NAVEE ST3 Pro Damping Arm™ Suspension City E-scooter has officially entered the chat — and for Black Friday, it’s dropping to an unmissable low price. If you’ve been waiting for the right moment to commit to electric travel, this is it.

From November 17 to December 2 (PDT), the NAVEE ST3 Pro Damping Arm™ Suspension City E-scooter is 20% off, reducing the price from USD $949.99 to $759.99. Canadian pricing drops from CAD $1,299.99 to $971.09. (On Amazon, the discount window is November 20 to December 1 (PDT).)

And if that wasn’t already awesome, NAVEE has tacked on an extra 5% off for Electrek readers when you use one of these codes:

Official Website: Use code ST3PRO5 — valid in the US & Canada through February 28, 2026
Amazon: Use code NAVEEST3PRO — valid in the US & Canada through February 28, 2026

Why the NAVEE ST3 Pro is a standout

The NAVEE ST3 Pro pushes the boundaries of what an electric scooter can be. It’s built for real-world riders who want power, range, comfort, and safety with their convenience.

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Auto‑grade ride comfort

The automotive‑grade Damping Arm™ suspension system uses four swinging polymer arms on both front and rear wheels, absorbing impact in ways traditional scooters simply can’t. Whether you’re rolling over brick roads, patched‑up potholes, or gravel, the ST3 Pro smooths out the chaos.

Power that actually counts

The 48-volt platform delivers up to 1350W of peak power, allowing you to power through 28% inclines without any power loss. Switch into Sport Mode when you want max speed of up to 25 mph, confidence, and faster reaction ability.

Safety is priority

With the triple braking system, NAVEE didn’t hold back:

Disc brake
Drum brake
Automotive‑grade eABS + traction control

This blend gives you enhanced stopping precision and a shorter braking distance, even during high‑speed or downhill commutes.

Long ranges that end anxiety

The ST3 Pro features a 596.7Wh battery system offering up to 46.6 miles of TÜV‑certified range at maximum speed. That’s nearly two days of commuting for many riders. For comparison, the ST3 model, with its 477.36Wh battery, achieves a range of up to 37.5 miles.

Regenerative braking adds even more efficiency, reclaiming up to 12% of total range.

Style + smart features

Want a scooter that looks as good as it rides? The ST3 Pro goes full futuristic with ambient lighting built right into the footboard – and not just a basic glow, but 15 fully selectable lighting modes to match your mood. Control it all with a tap in the NAVEE app.

Both the ST3 and ST3 Pro also come fully kitted with commuter‑ready lighting and connectivity:

Bright headlight for late‑night rides
Clean, visible taillight + turn indicators for safer signaling
Full companion app support for smart control, monitoring, and customization

Final thoughts

The NAVEE ST3 Pro isn’t just another Black Friday discount — it’s a chance to level up your urban commute with comfort, precision, and premium technology that feels years ahead.

The 20% off sale runs from November 17 to December 2 (PDT) (on Amazon, it runs November 20 to December 1 (PDT)) — don’t miss out. And don’t forget to use the extra 5% off codes for Electrek readers of ST3PRO5 on the official website and NAVEEST3PRO on Amazon.

You can buy the NAVEE ST3 Pro Damping Arm™ Suspension City E-scooter at the following links:

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Yamaha launches new electric scooter with Honda’s swappable batteries

Published

4 hours ago

November 21, 2025

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Yamaha launches new electric scooter with Honda's swappable batteries

Yamaha is doubling down on urban electrification in Japan with the launch of its new Jog E electric scooter – and in a twist that we’ve been waiting years to see, it runs on Honda’s Mobile Power Pack e: swappable batteries.

Yamaha shared on its social media that the Jog E is set to begin a region-limited pre-sale on December 22, 2025, exclusively through Yamaha EV shops in Tokyo and Osaka. This rollout makes it the first Yamaha two-wheeler built around the Mobile Power Pack e system, which is becoming Japan’s de facto standard thanks to the joint battery-swap venture Gachaco.

It’s the result of an initiative that began way back in 2019, when many of the world’s leading motorcycle manufacturers built a consortium to develop a single swappable battery standard. At the time, it was seen largely as a way to compete against Gogoro, which had already developed a single swappable battery standard. Ultimately, instead of developing a battery standard, the consortium simply chose to elect Honda’s relatively little-used battery design as its standard. Now we’re finally seeing that battery employed in another major motorcycle maker’s vehicles.

A Yamaha built for battery swapping

Unlike typical electric scooters sold with a fixed battery, the Jog E is offered as a body-only purchase. Riders must separately subscribe to Gachaco’s paid battery-sharing service, which gives access to swap stations located throughout major cities.

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As of now, Gachaco operates 42 battery swapping stations in Tokyo, 7 stations in Osaka, and 2 stations in Saitama. It’s a far cry from the thousands of stations operated by Taiwanese competitors like Gogoro and Kymco, but it’s a start.

It also means Yamaha is restricting initial sales to Tokyo and Osaka EV stores, ensuring that buyers actually have infrastructure available. Yamaha says standalone batteries and chargers will arrive in the second half of 2026 for riders who prefer to own rather than swap.

Built for stop-and-go city life

Yamaha says the Jog E is tuned specifically for dense urban commuting, with smooth acceleration for constant stop-and-go traffic, plus familiar Yamaha scooter ergonomics and universal EV-forward design touches. We don’t get performance specs yet, but the urban focus means we’re likely looking at limited power and speed figures.

Riders will get two color options at launch: dark gray and light gray. Not exactly going nuts with the color wheel, there.

Pricing lands at 159,500 yen (about US$1,050), though that excludes battery service fees, registration, insurance, and other common costs.

Part of Yamaha’s bigger climate strategy

Yamaha says the Jog E plays a key role in the company’s path toward carbon neutrality by 2050. Specifically, it helps reduce emissions under “Scope 3, Category 11” – basically emissions generated from customers using Yamaha products.

The scooter also symbolizes a closer collaboration among Japan’s Big Four motorcycle makers, all of whom co-founded Gachaco along with energy giant ENEOS. Battery swapping is shaping up to be Japan’s most aggressive approach to mainstreaming electric two-wheelers, and the Jog E is a big step in that direction.

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