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Goldman Sachs, the hugely influential investment bank has issued a report on the “Seven Sisters”, the world's largest oil companies, arguing that having “survived a life-changing crisis” the companies are “now poised to reap the rewards”.

Two months after Donald Trump announced that he intended to pull America out of the UN Paris climate agreement, last Friday the State Department submitted the formal notification to the UN to that effect.

Who will clean up the mess if oil companies go bust as the whole fossil fuel industry goes from a downcycle into a potential “death spiral”?

The world’s largest listed oil company, Exxon, announced on Friday it was going to have to cut its reported proved reserves by just under a fifth. It is the biggest reserve revision in the history of the oil industry.

Big Oil’s twilight could happen faster than many have predicted.

The boss of oil giant Exxon, Rex Tillerson, will be an "oil man" until the day he dies. And on yesterday’s performance at the company’s AGM this old oil dinosaur is not going green anytime soon.

The famous quote attributed to Benjamin Franklin is that "In this world nothing can be said to be certain, except death and taxes”. Another certainty is that you know that the top executives of controversial companies absolutely hate the one day in the year that they are accountable to their shareholders: the AGM.

Desperate times mean desperate measures. Something has to give. With no end in sight to the low oil price, Canadian tar sands companies are having to sell what are being described as their “jewels in the crown” in order just to survive.