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...It also trimmed its growth forecast for 2025 to 1.1mn b/d, citing greater fuel efficiencies and more electric vehicles as a drag on oil growth....
...Saudi Arabia’s energy ministry on Tuesday asked the state oil company Saudi Aramco to halt a planned 1mn barrels per day expansion in oil production to 13mn b/d. This had been due by 2027....
...The IEA added that record output from the US, Brazil, Guyana and Canada would help boost global supply this year by 1.5mn b/d to a record 103.5mn b/d....
...But all anyone in our business could talk about was whether a new journalism model was taking root. Any thoughts welcome: robert.armstrong@ft.com and ethan.wu@ft.com....
...and 360,000 b/d in 2025....
...These have picked up markedly in recent years, from a low of about 400,000 b/d in the pandemic year of 2020 to about 1.4mn b/d recently, according to Richard Bronze at Energy Aspects....
...In the last fiscal year, R&D costs were equal to 7.8 per cent of revenue, up from 3.3 per cent in 2014. But it has not been willing to fund a new supply chain for mass car production....
...The US, in particular, is on course to increase oil output by 1.4mn barrels a day in 2023, three times the 0.4mn b/d cut from Opec+ nations....
...) big enough to make a meaningful impact on Berkshire’s earnings, (b) possible to reliably value, (c) have trustworthy and competent management, and (d) are available at a reasonable price....
...Analysts estimate Opec+ has about 6mn b/d of spare capacity it can unleash on to global markets to lower prices if they spike into the triple digits to prevent demand destruction....
...Cobalt, like other battery metals, is in a bear market, thanks to supply growth. That is an opportunity for the automotive sector. Have a great week, Helen ThomasHead of Lexhelen.thomas@ft.com...
...Do also look to Italy’s Bonacina 1889, a historic company with prominent links to one of my decoration heroes, Renzo Mongiardino — he relied on Bonacina to supply furniture for his magnificent interiors...
...Before the incident, Exxon pumped 45,000 barrels a day out of the country; afterwards it dropped to 15,000 b/d....
...It’s a way to mitigate risk, such as geopolitical tensions. You know, the US keeps putting more export controls on Chinese companies. So companies really need to have a plan B, have a back up....
...The IEA forecasts crude consumption to increase by 1.3mn barrels per day this year while Opec this week maintained its growth estimates of 2.25mn b/d for 2024....
...The state-run oil producer said the energy ministry had ordered the move which would have increased its daily output from 12mn barrels a day to 13mn b/d by 2027....
...Moira O’Neill is a freelance money and investment writer. X: @MoiraONeill, Instagram @MoiraOnMoney, email: moira.o’neill@ft.com....
...If you’d like to see your insights featured in the newsletter — or simply give us a piece of your mind — drop us a line at moralmoneyreply@ft.com. — Patrick Temple-West The Moral Money Summit Europe is...
...“I’d imagine a lot of the multinationals and corporations that are thinking of investing in Panama are also thinking, ‘am I going to get caught up in this?’”...
...And as many as six more — with a combined capacity of 6bn cf/d — could be greenlit this year, according to analysts at ClearView Energy Partners in Washington....
...fraction of Cote d’Or prices....
...alan.beattie@ft.com...
..., up from almost 100mn b/d in 2022....
...This would involve oil demand falling from 100mn barrels a day to 77mn b/d by 2030; and natural gas demand falling from 4,150bn cubic metres in 2022 to 3,400 bcm over the same period....
...If your confidence is at a maximum, lay an opinion on us: robert.armstrong@ft.com and ethan.wu@ft.com. Can the good times last?...
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