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...These kinds of search results, which include an “AI-powered snapshot”, are more costly for Google to serve up than its traditional responses because generative AI consumes a lot more computing resources....
...“We’ll enjoy greater scale, resources and agility, while better positioning the firm to make targeted investments,” said Seth Siegel, Grant Thornton’s chief executive....
...Toyota has already unwound some of its cross-shareholdings to mobilise resources for the massive investments needed in battery electric vehicles and technology....
...The Biden administration defended the LNG pause this week in a letter to the American Petroleum Institute, a Big Oil lobby group that has campaigned against it, saying the approvals process needed updating...
...General Atlantic’s expansion push comes as some prominent private equity groups consider public listings, while others sell to strategic partners with broader financial resources....
...With the US presidential election looming, the White House is also likely to ask Opec members to pump more oil, or choose to release oil from the US strategic petroleum reserve, if prices continue to climb...
...Alongside rivals Endeavor Energy Resources and Mewbourne Oil, CrownRock has long been viewed as a prime target for bigger groups looking to scale up their operations in the oilfield....
...Alongside rivals Endeavor Energy Resources and Mewbourne Oil, it has long been viewed as a prime target for bigger groups looking to scale up their operations in the oilfield....
...Russia supplies about 6 per cent of the world’s aluminium, 5 per cent of nickel and 4 per cent of copper, according to CRU Group, a consultancy....
...Lying beneath the ice North of the Arctic Circle is the largest unexplored petroleum reserve left on Earth, holding an estimated 412bn barrels of oil and natural gas....
...The lawsuit from the American Petroleum Institute, a lobby group, accused the US government of using “every tool at its disposal” to restrict access to resources in federal waters....
...Trafigura said the ex-employee was a former consultant to DT Group, which was a joint venture formed in 2009 by Trafigura and Cochan Holdings LLC, an investment vehicle controlled by a former military adviser...
...The volume of oil and refined petroleum products that the group traded remained roughly flat at 7.3mn barrels per day....
...He was appointed to the leadership team as head of oil and petroleum products in 2007....
...The search group had been testing generative AI software internally for several months by then....
...In M&A news, consolidation in the US shale oil sector continues, this time with the announcement yesterday of Diamondback Energy’s $26bn tie-up with Autry Stephens’ Endeavour Energy Resources....
...It was founded in the 1970s by Jan Nasmyth, a former Treasury official and British Army officer, as a weekly newsletter called Europe-Oil Prices covering European petroleum products....
...Worldwide membership of the Society of Petroleum Engineers, an industry group, fell from 168,125 in 2015 to 119,120 in 2022, while the average age of professional members has increased to 48 years, up from...
Tech group’s AI tools will assist project to track oil and gas infrastructure
...China and Russia are challenging US claims to mineral-rich stretches of seabed because Washington has failed to ratify a treaty — the UN Convention on the Law of the Sea — that governs access to resources...
...The group must make good on its renewed focus on areas such as biofuels and electric vehicle charging, where it promises returns of more than 15 per cent....
...The market for petroleum products was likely to be “more interesting” than that for crude, Hardy said. “Product markets are more vulnerable [and] that’s where we are seeing the stress and strain . . ....
...This past autumn, Exxon unveiled a $60bn all-stock takeover of Pioneer Natural Resources. Within two weeks, Chevron followed suit with a $53bn all-stock deal for US operator Hess....
...In recent years, the three-day conference, previously known as International Petroleum Week, has sought to jettison its oily image and opened the gathering up to a much wider range of industry participants...
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