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...Much of his firepower derives from a humble source: a small oil refining and nitrogen fertiliser company in the US heartland....
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...Franck Demay, chief executive at Petroineos Refining, said he expected refinery operations to continue until early 2025....
...They focus more on refining margins when forecasting energy prices and no longer assume gas and oil prices will move in parallel, after they diverged massively last year....
...It was backed by several deep-pocketed investors, including BlackRock, US oil refiner Valero Energy and Poet, a top US biofuel refiner....
...He said the deal made sense in terms of boosting efficiency and ensuring the company had resources that could plug into its large refining and chemicals assets on the Gulf coast....
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...Norway might have become rich on being a big oil and gas producer but the nation started moving away from oil-fired heating after the 1973 oil shock, and banned oil and paraffin for heating in 2020....
...But Icahn could rely on one secret weapon of sorts to pour oil on troubled waters....
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...If he licenses more fields, the oil and gas produces 15-18 per cent of its emissions in the extraction, transportation and refining process before it ever gets to any carbon capture process....
...Options range from humble crumble at British pub chain Young’s to ornate pavlovas at The National Gallery’s Ochre....
...Last month it completed the purchase of a 10 per cent stake in China’s Rongsheng Petrochemical Co Ltd for $3.4bn in a deal that will see Aramco supply 480,000 b/d of crude to China’s largest refining and...
...Grobler said that the Fischer-Tropsch technology at the core of its business was its best guarantee of a post-oil future....
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...Saudi Arabia is keen to receive Chinese help to diversify its economy and wants investments beyond the traditional oil, refining and telecommunications sectors, in industries ranging from steel to internet...
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...That is a boon for an industry making natural gas — which has about a quarter less CO₂ than oil — a pillar of its energy transition strategy....
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