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...The US government has imposed sanctions on companies accused of shipping or trading Russian oil in violation of western rules but is yet to target an individual for involvement....
...Oil group Shell (78th) decided against such a move, while the chief executive of France’s TotalEnergies (54th) told investors it was not an option. BP ranks 42nd....
...Barrack also warned that, depending on what the cartel does, the oil market could experience “extraordinary” volatility....
...Privately held Vitol, which employs about 1,800 people, made a record $15.1bn in net profit in 2022 and about $13bn in 2023, making it one of the most profitable companies in the world on a per capita basis...
...At the COP28 climate conference in December, companies representing about a third of global oil and gas production including ExxonMobil, TotalEnergies, BP and Shell pledged to stop routine flaring of excess...
...Even as global temperatures smash through record highs, the oil industry is claiming the world can’t afford the rapid transition from fossil fuels to cleaner energy....
...Smart read Nobel-winning economist Angus Deaton has a must-read mea culpa about the impact of globalisation on poverty reduction in the IMF’s quarterly journal....
...An oil analyst at a US commodities trading house has been dismissed after a video that circulated on social media showed him in a tense exchange with an onlooker as he covered up what appeared to be posters...
...Water is used in most forms of fuel and power generation, for example, to pump for oil and gas or to produce steam in thermal power stations....
...And the big oil majors (Exxon, Conoco, Chevron) don’t look very cheap relative to the profit and revenue growth the street expects right now....
...He said the South American country had benefited from the easing of US sanctions on its oil industry in October and the entry of US companies such as Chevron....
...Argus subsequently grew by acquiring other companies and counts Platts, part of credit rating company S&P, among its competitors....
...The price of oil is being kept down by weak Chinese demand, despite Opec production cuts....
...in the sector, for example in analysing claims, but the negotiation of specialist commercial insurance contracts — where underwriters provide policies covering against everything from cyber attacks to oil...
...Bankers brace for a Big Oil fee bonanza After a moribund few years for M&A, two megadeals are fuelling dealmakers’ hopes for a fee windfall, as more big oil producers consolidate in a rush to produce the...
...News round-up Activist fund Elliott seeks board seats at oil refiner Phillips 66 (FT) Castore scores £950mn valuation after Raine-led funding round (FT) Farfetch shares plunge despite talk of founder...
...All the Goldmanites need to do is “keep the oil tanker cruising”....
...And one smart listen: The FT’s Myles McCormick joins the FT’s Behind the Money podcast to discuss why Big Oil is betting on a dealmaking frenzy. Listen here....
...He has previously compared technology to the “new oil” in the US economy....
...Earlier this year, the firm decided not to pursue its offer for UK oil engineering company Wood Group despite a months-long pursuit that saw it make multiple offers....
...The official allegedly concerned was chief executive of Sonangol Distribuidora, a subsidiary of Angola’s state-owned oil company Sonangol, which is responsible for marketing and shipping the African nation...
...Start-ups are fielding calls from venture capital providers, pension funds, nuclear engineering companies and, of course, oil and gas groups....
...When accounting for its debt, the company is valued at more than $7bn....
...The recent oil price increase is as much about geopolitics as firm global demand, gold’s rally is baffling analysts and industrial metals are being supported by recovering Chinese demand....
...The Looney fallout shakes BP Bernard Looney’s sudden resignation as chief executive of BP on Tuesday shocked the corporate world and it may also have come as a surprise to the oil major’s communications...
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