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The managing director of the Far East and Arctic Development Corporation (ERDC) died under mysterious circumstances on Saturday, Russian media reported.

What Happened: Ivan Pechorin, 39, died after reportedly falling off a boat while sailing off the coast of Russky Island in the Sea of Japan.

Russian Energy Chief Dies After Falling Off Boat In 8th Such Suspicious Death Since Putin&#39;s Ukraine Invasion

Ravil Maganov

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The death of the chief of Russia&#39;s second-largest oil producer, Lukoil (OTC: LUKOY), under suspicious circumstances has raised many eyebrows, given his criticism of Vladimir Putin&#39;s invasion of Ukraine.

7 Powerful Russian Business Tycoons That Have Died Mysteriously Since Putin&#39;s Ukraine Invasion

Photo by Free Wind 2014 on Shutterstock

The chairman of Russia&#39;s second-largest oil producer Lukoil (OTC: LUKOY), who criticized Russian President Vladimir Putin&#39;s invasion of Ukraine, died in mysterious circumstances on Thursday.

Putin Critic — Chairman Of Russia&#39;s 2nd Largest Oil Producer — Said To Die After Falling From Window

The managing director of the Far East and Arctic Development Corporation (ERDC) died under mysterious circumstances on Saturday, Russian media reported.
What Happened: Ivan Pechorin, 39, died after reportedly falling off a boat while sailing off the coast of Russky Island in the Sea of Japan.
Pechorin&#39;s body was recovered from the waters on Monday following an extended search. This came days after he attended the Eastern Economic Forum, which was hosted by Russian President Vladimir Putin in Vladivostok.
&ldquo;Ivan&rsquo;s death is an irreparable loss for friends and colleagues, a great loss for the corporation,&rdquo; ERDC said in a statement.
See Also:&nbsp;<a href="https://www.benzinga.com/news/22/09/28841266/xi-jinping-is-willing-to-work-with-vladimir-putin-top-china-envoy-both-sides-firmly-support-each-oth">Xi Jinping &#39;Willing To Work&#39; With Putin To Steer Global Order In &#39;More Just, Reasonable&#39; Direction, Says Top Chinese Envoy</a>
The corporation&#39;s former CEO&nbsp;Igor Nosov&nbsp;also died suddenly in February from a reported stroke at the age of 43.
Pechorin is the latest Russian energy executive and powerful business tycoon to be pronounced dead under mysterious circumstances since the onset of the Russia-Ukraine war.&nbsp;A week ago, Ravil Maganov, the chief of Lukoil (OTC: <a class="ticker" href="https://www.benzinga.com/stock/lukoy#OTC">LUKOY</a>), Russia&rsquo;s second-largest oil producer, died after reportedly falling off a 6th-floor ward window of the Central Clinical Hospital in Moscow.&nbsp;His company was among the few Russian businesses that opposed Putin&#39;s invasion of Ukraine and expressed &quot;its concern over the ongoing tragic events in Ukraine&quot; and &quot;its deepest sympathy to all those affected by this tragedy.&quot;
Since the date Putin invaded Ukraine, <a href="https://www.benzinga.com/news/22/09/28730802/seven-powerful-russian-business-tycoons-have-died-mysteriously-since-vladimir-putin-invaded-ukraine" style="text-decoration-line:none">more than eight powerful Russian oligarchs have died under suspicious circumstances </a>raising many eyebrows.
See Also:&nbsp;<a href="https://www.benzinga.com/news/22/09/28824199/xi-jinping-to-meet-putin-in-first-foreign-trip-in-two-years-beijing-is-reluctant-to-distance-itself" target="_blank">Xi Jinping To Meet Vladimir Putin In First Foreign Trip Since Onset Of COVID-19: Analysts On What To Expect With This Meeting</a>

Russian Energy Chief Dies After Falling Off Boat In 8th Such Suspicious Death Since Putin's Ukraine Invasion

The death of the&nbsp;chief of Russia&#39;s second-largest oil producer, Lukoil&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/lukoy#OTC">LUKOY</a>),&nbsp;under suspicious circumstances has raised many eyebrows, given his criticism of&nbsp;Vladimir Putin&#39;s invasion of Ukraine.
What Happened: Ravil Maganov was the second board member of Lukoil and the latest Russian oligarch to have died since the invasion of Ukraine began&nbsp;in February.&nbsp;Reports show that at least seven influential Russian businessmen have died &mdash; either by suicide or under mysterious circumstances &mdash; amid&nbsp;the Russia-Ukraine War.
<h3>Ravil Maganov</h3>
Ravil Maganov, the chairman of Lukoil, died on Thursday <a href="https://www.benzinga.com/news/22/09/28712824/chairman-of-russian-oil-producer-who-criticised-putins-war-dies-after-falling-from-hospital-window" style="text-decoration-line:none">after reportedly&nbsp;falling from a ward window on the 6th floor </a>of the Central Clinical Hospital in Moscow. The company he led was one of the few Russian businesses that opposed Putin&#39;s invasion of Ukraine and expressed &quot;its concern over the ongoing tragic events in Ukraine&quot; and expressed &quot;its deepest sympathy to all those affected by this tragedy.&quot;
<h3>Alexander Tyulyakov</h3>
A day after the invasion, Alexander Tyulyakov &mdash; Gazprom&#39;s (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ogzpy#OTC">OGZPY</a>) deputy general director of the Unified Settlement Center (UCC) for Corporate Security &plusmn; was found dead hanging in the garage of his home in St. Petersburg. However, the investigators concluded that he had committed suicide, according to the Russian newspaper <a href="https://novayagazeta.ru/articles/2022/03/07/nekhoroshii-poselok?" style="text-decoration-line:none">Novaya Gazeta</a>.
<h3>Mikhail Watford</h3>
Ukraine-born oligarch Mikhail Watford was also found dead in the garage of his $20 million mansion in Surrey, England, on Feb.&nbsp;28, according to the <a href="https://www.bbc.com/news/uk-england-surrey-60608132" style="text-decoration-line:none">BBC</a>. However, the Surrey Police had said at the time&nbsp;that there were not believed to be any suspicious circumstances &quot;at this time.&quot;
<h3>Vasily Melnikov</h3>
Another Russian businessman Vasily Melnikov was found dead in his luxury apartment in Nizhny Novgorod, along with his wife and two children. The investigation revealed that he killed his 41-year-old wife and two children before killing himself on March 23, CNN <a href="https://edition.cnn.com/2022/04/29/europe/russian-oligarchs-suicides-intl/index.html" style="text-decoration-line:none">reported</a> citing the Russian newspaper Kommersant.
<h3>Vladislav Avayev</h3>
The former Kremlin official and vice-president of the Gazprombank, Vladislav Avayev, was found dead in his penthouse in Moscow on April 18. In this case, also, the investigators revealed that the victim killed his wife and 13-year-old daughter before killing himself, the Russian newspaper Kommersant <a href="https://www.kommersant.ru/doc/5316227" style="text-decoration-line:none">reported</a>.
Sergey Protosenya
On April 26, Sergey Protosenya, the Russian millionaire and former top manager of Russia&#39;s largest liquefied natural gas producer Novatek was found dead in his luxury Spanish villa on the Costa Brava, alongside his wife and an 18-year-old daughter.
Catalan Police also claimed Protosenya killed his wife and child before killing himself, RIA Novosti <a href="https://ria.ru/20220422/smert-1784945566.html" style="text-decoration-line:none">reported</a>.
<h3>Alexander Subbotin</h3>
Alexander Subbotin, the former Lukoil executive, was found dead in the basement of a country house in Moscow&#39;s Mytishchi on May 9. The room where Subbotin died was allegedly used for &quot;Jamaican voodoo rituals,&quot; TASS <a href="https://tass.ru/proisshestviya/14582193" style="text-decoration-line:none">reported</a>.
Photo: Courtesy of Kremlin.ru via <a href="https://commons.wikimedia.org/wiki/File:Ravil_Maganov_(2019-11-21).jpg">Wikimedia</a>

7 Powerful Russian Business Tycoons That Have Died Mysteriously Since Putin's Ukraine Invasion

The chairman of Russia&#39;s second-largest oil producer Lukoil (OTC: <a class="ticker" href="https://www.benzinga.com/stock/lukoy#OTC">LUKOY</a>), who criticized Russian President Vladimir Putin&#39;s invasion of Ukraine, died in mysterious circumstances on Thursday.
What Happened: Ravil Maganov died after allegedly falling from a ward window on the 6th floor of the Central Clinical Hospital in Moscow, Russian news agency <a href="http://www.interfax.ru/moscow/860208">Interfax</a> and <a href="https://www.reuters.com/world/europe/chairman-russian-oil-producer-lukoil-dies-after-falling-hospital-window-source-2022-09-01/">Reuters</a> separately&nbsp;reported.
&quot;This morning, Maganov fell out of the window of the Central Clinical Hospital. He died from his injuries,&quot; a source told the publication. However, Lukoil, in a statement, said Maganov &quot;passed away following a severe illness.&quot;
See Also:&nbsp;<a href="https://www.benzinga.com/news/22/09/28711628/us-intelligence-says-putin-may-soon-hire-convicted-criminals-to-ease-troop-shortage-amid-ukraine-war">Putin May Soon Hire Convicted Criminals To Ease Troop Shortage Amid Ukraine War Setbacks, Says US Intelligence</a>
&quot;​LUKOIL&#39;s many thousands of employees mourn deeply for this grievous loss and express their sincere condolences to Ravil Maganov&#39;s family,&quot; it added while lauding his contribution &quot;to the development of not only the Company but of the entire Russian oil and gas <a href="https://www.benzinga.com/money/best-sectors-to-invest-in-right-now/">sector</a>.&quot;
Lukoil was one of the few Russian companies that opposed Putin&#39;s invasion of Ukraine. Earlier in March, the company said, &quot;calling for the soonest termination of the armed conflict, we express our sincere empathy for all victims who are affected by this tragedy.&quot;
&quot;We strongly support a lasting ceasefire and a settlement of problems through serious negotiations and diplomacy.&quot;&nbsp;
Maganov was a close associate of one of Lukoil&#39;s founders, Vagit Alekperov, who was a former Soviet deputy oil minister. Maganov had worked in the company since 1993 &mdash; shortly after its inception.
See Also:&nbsp;<a href="https://www.benzinga.com/news/22/08/28711419/statue-of-russian-president-vladimir-putin-ridiculed-by-kids-in-ukraine-these-kids-pack-a-good-punch" target="_blank">Inflatable Putin Doll Turns Boxing Bag For Angry Young Ukrainians: &#39;These Kids Pack A Good Punch!&#39; (Video)</a>

Putin Critic — Chairman Of Russia's 2nd Largest Oil Producer — Said To Die After Falling From Window

Kingdom Holdings, a Saudi Arabian holding company founded by Saudi Prince Al Waleed bin Talal Al Saud,&nbsp;invested over $500 million in Russian oil companies at a pivotal moment, according to a <a href="https://edition.cnn.com/2022/08/15/energy/saudi-arabia-russian-oil-investments/index.html">CNN report</a>.
The investments came between February and March, after Russia&rsquo;s invasion of Ukraine was made public on February 24.
Likely taking advantage of a drop in price after the invasion, the Saudi fund invested in global depository receipts of the three largest Russian energy companies by revenue which were traded on the OTC: Gazprom (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ogzpy#OTC">OGZPY</a>), Rosneft (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ojscy#OTC">OJSCY</a>) and Lukoil (OTC: <a class="ticker" href="https://www.benzinga.com/stock/lukoy#OTC">LUKOY</a>).
Price data for Russian stocks is currently unavailable <a href="https://www.reuters.com/markets/funds/getting-rid-russian-assets-big-problem-us-fund-managers-2022-03-01/">due to restrictions from several stock exchanges on trading Russian assets</a>, as well as a Russian directive banning foreigners from trading assets from Russian companies.
Kingdom Holding&rsquo;s decision came against policies from Western countries and companies looking to sanction Russian energy firms and other companies after the invasion.
According to a Financial Times <a href="https://www.ft.com/content/c743f14c-b284-4ec4-93f9-2df600d31a89">report</a>, &ldquo;it would be unlikely for a large Saudi company to conduct big investments in Russia without the government&rsquo;s blessing,&rdquo; which gives input into the official position of the Saudi government on trading with Russia, following commercial sanctions from many Western nations.
Kingdom Holdings is majority-owned by Prince Al Waleed, grandson of Abdulaziz, the first king of Saudi Arabia who founded the country. In May, the Prince <a href="https://thearabweekly.com/al-waleed-sells-16-shares-saudi-sovereign-fund">sold 16% of the company</a> to the Saudi government&rsquo;s Sovereign Wealth Fund.
Photo: Courtesy of&nbsp;<a href="https://www.flickr.com/photos/presidencymaldives/" id="yui_3_16_0_1_1660480397119_678934" title="Go to Presidency Maldives's photostream">Presidency Maldives</a>&nbsp;on flickr

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Saudi Prince Bought $500M Worth Of Russian Oil Stocks As Putin Declared War On Ukraine

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Benzinga's Top Ratings Upgrades, Downgrades For September 23, 2021

Goldman Sachs upgrades Lukoil (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LUKOY#OTC">LUKOY</a>) from Neutral to Buy and announces $115 price target.

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Goldman Sachs Upgrades Lukoil to Buy, Announces $115 Price Target

<h3>Companies Reporting Before The Bell</h3>
&bull; Dollar Tree Inc. (NASDAQ:<a class="ticker" href="/stock/DLTR#NASDAQ">DLTR</a>) is estimated to report quarterly earnings at $0.92 per share on revenue of $6.20 billion.
&bull; Abercrombie &amp; Fitch Inc. (NYSE:<a class="ticker" href="/stock/ANF#NYSE">ANF</a>) is estimated to report quarterly loss at $0.83 per share on revenue of $658.44 million.
&bull; Can-Fite Biopharma Ltd Sponsored ADR (Israel) Inc. (AMEX:<a class="ticker" href="/stock/CANF#AMEX">CANF</a>) is estimated to report quarterly loss at $0.33 per share on revenue of $250.00 thousand.
&bull; Dollar General Inc. (NYSE:<a class="ticker" href="/stock/DG#NYSE">DG</a>) is expected to report quarterly earnings at $2.44 per share on revenue of $8.35 billion.
&bull; Burlington Stores Inc. (NYSE:<a class="ticker" href="/stock/BURL#NYSE">BURL</a>) is expected to report quarterly loss at $1.04 per share on revenue of $1.11 billion.
&bull; Coty Inc. (NYSE:<a class="ticker" href="/stock/COTY#NYSE">COTY</a>) is expected to report quarterly loss at $0.12 per share on revenue of $1.34 billion.
&bull; Destination XL Group Inc. (NASDAQ:<a class="ticker" href="/stock/DXLG#NASDAQ">DXLG</a>) is estimated to report earnings for its second quarter.
&bull; HeadHunter Group Inc. (NASDAQ:<a class="ticker" href="/stock/HHR#NASDAQ">HHR</a>) is estimated to report quarterly earnings at $0.13 per share on revenue of $20.36 million.
&bull; KNOT Offshore Partners Inc. (NYSE:<a class="ticker" href="/stock/KNOP#NYSE">KNOP</a>) is expected to report quarterly earnings at $0.57 per share on revenue of $71.00 million.
&bull; Movado Group Inc. (NYSE:<a class="ticker" href="/stock/MOV#NYSE">MOV</a>) is estimated to report quarterly loss at $0.31 per share on revenue of $113.00 million.
&bull; New Frontier Health Inc. (NYSE:<a class="ticker" href="/stock/NFH#NYSE">NFH</a>) is expected to report earnings for its second quarter.
&bull; Photronics Inc. (NASDAQ:<a class="ticker" href="/stock/PLAB#NASDAQ">PLAB</a>) is expected to report quarterly earnings at $0.15 per share on revenue of $150.90 million.
&bull; Quhuo Inc. (NASDAQ:<a class="ticker" href="/stock/QH#NASDAQ">QH</a>) is expected to report quarterly earnings at $0.02 per share on revenue of $72.97 million.
&bull; Sanderson Farms Inc. (NASDAQ:<a class="ticker" href="/stock/SAFM#NASDAQ">SAFM</a>) is expected to report quarterly earnings at $0.95 per share on revenue of $936.04 million.
&bull; ReneSola Inc. (NYSE:<a class="ticker" href="/stock/SOL#NYSE">SOL</a>) is expected to report earnings for its second quarter.
&bull; So-Young Intl Inc. (NASDAQ:<a class="ticker" href="/stock/SY#NASDAQ">SY</a>) is estimated to report quarterly earnings at $0.08 per share on revenue of $49.63 million. 
&bull; 1-800-Flowers.com Inc. (NASDAQ:<a class="ticker" href="/stock/FLWS#NASDAQ">FLWS</a>) is estimated to report quarterly earnings at $0.18 per share on revenue of $379.53 million.
&bull; Frontline Inc. (NYSE:<a class="ticker" href="/stock/FRO#NYSE">FRO</a>) is estimated to report quarterly earnings at $1.04 per share on revenue of $345.89 million.
&bull; Lancaster Colony Inc. (NASDAQ:<a class="ticker" href="/stock/LANC#NASDAQ">LANC</a>) is expected to report quarterly earnings at $0.96 per share on revenue of $298.63 million.
&bull; Titan Machinery Inc. (NASDAQ:<a class="ticker" href="/stock/TITN#NASDAQ">TITN</a>) is estimated to report quarterly loss at $0.01 per share on revenue of $266.92 million.
&bull; The Toronto-Dominion Bank Inc. (NYSE:<a class="ticker" href="/stock/TD#NYSE">TD</a>) is estimated to report quarterly earnings at $1.15 per share on revenue of $7.27 billion.
&bull; Canadian Imperial Bank Inc. (NYSE:<a class="ticker" href="/stock/CM#NYSE">CM</a>) is expected to report quarterly earnings at $2.27 per share on revenue of $3.51 billion.
&bull; BRP Inc. (NASDAQ:<a class="ticker" href="/stock/DOOO#NASDAQ">DOOO</a>) is estimated to report earnings for its second quarter.
&nbsp;
<h3>Companies Reporting After The Bell</h3>
&bull; Dell Technologies Inc. (NYSE:<a class="ticker" href="/stock/DELL#NYSE">DELL</a>) is estimated to report quarterly earnings at $1.38 per share on revenue of $22.52 billion.
&bull; Gap Inc. (NYSE:<a class="ticker" href="/stock/GPS#NYSE">GPS</a>) is expected to report quarterly loss at $0.40 per share on revenue of $2.91 billion.
&bull; Grindrod Shipping Hldgs Inc. (NASDAQ:<a class="ticker" href="/stock/GRIN#NASDAQ">GRIN</a>) is estimated to report quarterly loss at $0.74 per share on revenue of $43.81 million.
&bull; HP Inc. (NYSE:<a class="ticker" href="/stock/HPQ#NYSE">HPQ</a>) is expected to report quarterly earnings at $0.43 per share on revenue of $13.31 billion.
&bull; Afya Inc. (NASDAQ:<a class="ticker" href="/stock/AFYA#NASDAQ">AFYA</a>) is expected to report quarterly earnings at $0.12 per share on revenue of $45.33 million.
&bull; Ascendis Pharma Inc. (NASDAQ:<a class="ticker" href="/stock/ASND#NASDAQ">ASND</a>) is estimated to report quarterly loss at $1.70 per share on revenue of $2.52 million.
&bull; Grupo Aval Acciones Inc. (NYSE:<a class="ticker" href="/stock/AVAL#NYSE">AVAL</a>) is expected to report quarterly earnings at $0.09 per share on revenue of $1.29 billion.
&bull; Aviat Networks Inc. (NASDAQ:<a class="ticker" href="/stock/AVNW#NASDAQ">AVNW</a>) is expected to report quarterly earnings at $0.27 per share on revenue of $64.12 million.
&bull; Bill.com Holdings Inc. (NYSE:<a class="ticker" href="/stock/BILL#NYSE">BILL</a>) is estimated to report quarterly loss at $0.11 per share on revenue of $37.98 million.
&bull; Malibu Boats Inc. (NASDAQ:<a class="ticker" href="/stock/MBUU#NASDAQ">MBUU</a>) is expected to report quarterly earnings at $0.12 per share on revenue of $101.32 million.
&bull; Marvell Technology Group Inc. (NASDAQ:<a class="ticker" href="/stock/MRVL#NASDAQ">MRVL</a>) is expected to report quarterly earnings at $0.20 per share on revenue of $727.45 million.
&bull; Okta Inc. (NASDAQ:<a class="ticker" href="/stock/OKTA#NASDAQ">OKTA</a>) is estimated to report quarterly loss at $0.02 per share on revenue of $186.29 million.
&bull; Ollie&#39;s Bargain Outlet Inc. (NASDAQ:<a class="ticker" href="/stock/OLLI#NASDAQ">OLLI</a>) is estimated to report quarterly earnings at $0.90 per share on revenue of $509.54 million.
&bull; PagSeguro Digital Inc. (NYSE:<a class="ticker" href="/stock/PAGS#NYSE">PAGS</a>) is estimated to report quarterly earnings at $0.17 per share on revenue of $248.24 million.
&bull; RYB Education Inc. (NYSE:<a class="ticker" href="/stock/RYB#NYSE">RYB</a>) is estimated to report earnings for its second quarter.
&bull; Trean Insurance Group Inc. (NASDAQ:<a class="ticker" href="/stock/TIG#NASDAQ">TIG</a>) is expected to report quarterly earnings at $0.12 per share on revenue of $104.60 million.
&bull; Ulta Beauty Inc. (NASDAQ:<a class="ticker" href="/stock/ULTA#NASDAQ">ULTA</a>) is estimated to report quarterly earnings at $0.06 per share on revenue of $1.24 billion.
&bull; Veeva Systems Inc. (NYSE:<a class="ticker" href="/stock/VEEV#NYSE">VEEV</a>) is estimated to report quarterly earnings at $0.64 per share on revenue of $340.12 million.
&bull; VMware Inc. (NYSE:<a class="ticker" href="/stock/VMW#NYSE">VMW</a>) is expected to report quarterly earnings at $1.45 per share on revenue of $2.80 billion.
&bull; Workday Inc. (NASDAQ:<a class="ticker" href="/stock/WDAY#NASDAQ">WDAY</a>) is estimated to report quarterly earnings at $0.66 per share on revenue of $1.04 billion.
&bull; Yiren Digital Inc. (NYSE:<a class="ticker" href="/stock/YRD#NYSE">YRD</a>) is estimated to report quarterly earnings at $0.17 per share on revenue of $274.20 million.

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Earnings Scheduled For August 27, 2020

The global oil market is in a state of panic, and its impact is being felt all over the globe.
The year started off rocky due to a longstanding glut of oil thanks to decades worth of expansion in U.S. onshore production. A price war between OPEC and Russia only further amplified the oversupply problem. That issue has since been resolved, but not before sustaining anoth price drop due to the global economic shutdown that resulted from the COVID-19 pandemic. With too much oil and too little demand, oil prices plummeted to historic lows through February and March, only recently regaining ground.
<h4>Cutting dividends</h4>
The current headwinds are intense and have led many energy companies to trim their dividends. Royal Dutch Shell (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rds-b#NYSE">RDS-B</a>) and Equinor are two direct competitors that have taken this drastic step to ensure they have ample cash to survive. Even Helmerich &amp; Payne (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hp#NYSE">HP</a>), which had a streak of 47 annual dividend hikes under its belt along with a rock-solid balance sheet still felt it necessary to cut the dividend in March.
The question now remains whether or not peers ExxonMobil Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xom#NYSE">XOM</a>) and Chevron Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cvx#NYSE">CVX</a>) will be forced to do the same.
For its part, Chevron has increased its dividend annually for 33 consecutive years. At the end of the first quarter, Chevron&#39;s total long-term debt had increased roughly 20% from the start of the year. At the end of May, it announced a 15 percent cut of its global workforce.
Exxon&#39;s dividend streak is even longer as it has increased its dividend annually for 37 consecutive years. But Exxon&#39;s long-term debt jumped even more than Chevron since the beginning of the year as it rose by nearly a third.
<h4>Uncertain future</h4>
The historically cyclical energy sector has experienced more than its fair share of ups and downs over the last three decades. The current challenges may only be a forbearer of future change, as renewable energy becomes cheaper and attempts to take a larger market share from fossil fuels.
Exxon and Chevron have taken steps toward the low-carbon future. Exxon is developing biofuels from algae, while Chevron has invested in solar, wind and geothermal power sources. But environmental activists say they haven&#39;t done enough.
Even with the support of the Trump administration, oil has an uncertain future. And even oil giants will need to fight for survival in the post-COVID-19 era.
This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full <a href="https://iamnewswire.com/disclaimer-disclosure/">disclosure</a>. IAM Newswire does not hold any position in the mentioned companies. Press Releases &ndash; If you are looking for full Press release distribution contact: <a href="mailto:press@iamnewswire.com">press@iamnewswire.com</a> Contributors &ndash; IAM Newswire accepts pitches. If you&#39;re interested in becoming an IAM journalist contact: <a href="mailto:contributors@iamnewswire.com">contributors@iamnewswire.com</a>
The post <a href="https://iamnewswire.com/2020/06/04/even-oil-giants-are-under-tremendous-pressure/" rel="nofollow">Even Oil Giants Are Under Tremendous Pressure</a> appeared first on <a href="https://iamnewswire.com" rel="nofollow">IAM Newswire</a>.

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