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...Other prominent industry bosses to attend the summit included Occidental Petroleum’s Vicki Hollub, ENI head Claudio Descalzi and RWE’s Markus Krebber....
...We are in Switzerland on the shores of Lake Geneva for the 13th FT Commodities Global Summit....
...Global energy markets have changed and grown dramatically since the creation of the Strategic Petroleum Reserve (SPR) nearly 50 years ago....
...All this reflects the rising success of US Republicans who claim “woke corporations” that take ESG factors into account and join industry climate alliances are putting politics above profits, with a leftwing...
...Mike Sommers, chief executive of the American Petroleum Institute, said by not agreeing to a “phaseout of fossil fuels” negotiators had realised that “too far/too fast mandates” were unproductive....
...Then he compares “the way this fire behaved and the way it was able to reproduce itself and wanted to get bigger” to the behaviour of large corporations....
...SPDC controls 30 per cent of the so-called SPDC joint venture in partnership with the state-owned Nigerian National Petroleum Corporation, which controls 55 per cent....
...on Tuesday, Charlie Nunn said “many corporations are looking at investment cases and putting their money in other markets” in reference to incentives such as the Inflation Reduction Act in the US and Europe...
...The next four crude cargoes will be supplied by the state-owned oil company the Nigerian National Petroleum Corporation (NNPC) in “two to three weeks” and ExxonMobil will supply the last of the initial six...
...Follow the FT’s Global Banking Summit here...
...Last June, it agreed to sell 4mn tonnes a year of LNG to China National Petroleum Corporation for 27 years, following a similar deal with China’s Sinopec in November 2022....
...Berkshire also exited its investments in payments business StoneCo, insurers Globe Life and Markel Corporation, and homebuilder DR Horton....
...“I’m pretty tired of constantly worrying that somebody in Washington DC makes a decision that’s going to impact my family in Fayette county,” said Nick Staffieri, a waste management team leader at EQT Corporation...
...The Financial Times is preparing to host its third annual Brazil Summit in New York....
...The UK raised corporation tax from 19 to 26 per cent this year but last week announced what Chancellor Jeremy Hunt called the “biggest business tax cut in modern British history”....
...It is hoping to secure agreement from allies by the G7 leaders summit in Italy in June....
...International Energy Agency holds climate summit in Madrid....
...China’s state-owned giants, China National Nuclear Corporation and China General Nuclear Power Group, are also expanding rapidly....
...Last week, the administration cancelled its latest plans to refill the country’s Strategic Petroleum Reserve. Other options at the administration’s disposal are limited....
.... — Patrick Temple-West The Moral Money Summit Europe is returning to London on May 22-23....
...“Many corporations are looking at investment cases [elsewhere] and putting their money in other markets.”...
...Other events: The Asia Pacific Petroleum Conference opens at Raffles City Convention Centre in Singapore....
...“I keep hearing from certain corporations ‘well, shareholders are demanding this’, and despite all of the consequences we are not yet doing what we said we would do,” said Kerry....
...But it should probably matter more for investors than the flashy Bletchley summit — at least for now....
...A plant like Natrium that can just flex very quickly with that built-in energy storage makes it very valuable,” said Levesque, who will attend a nuclear summit in Brussels this week....
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