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...Last year, Aramco acquired a 10 per cent stake in Shenzhen-listed Rongsheng Petrochemical for $3.6bn and entered a venture with two other Chinese companies to build a 300,000 b/d refinery and petrochemicals...
...Management of the division was taken over by Thomas Coesfeld, the 33-year-old scion of Bertelsmann’s owners, the Mohn family, last year....
...US production rose by roughly 1.5mn b/d to a record 13.5mn b/d in 2023 while that of Iran increased to an average of roughly 3.9mn b/d from about 3mn b/d a year earlier, said Claudio Galimberti, North America...
...The DAZN letter says that “according to our understanding, DAZN’s bid for rights package B was 20 per cent higher than Sky’s second-highest bid and above the reservation price defined by the DFL”....
...The IEA predicts oil demand will grow by 1.2mn b/d, about half the pace of 2023, while Opec believes demand growth will be higher at 2.2mn b/d....
...d to 13mn b/d by 2027....
...“They have 3mn b/d of spare capacity now so what is the rush of increasing production capacity to 13mn b/d.”...
...responsible for 10 per cent of global supply, said it had been asked by the energy ministry to abandon a plan to increase the Kingdom’s maximum sustainable production capacity from 12mn barrels per day to 13mn b/...
...But I went with it because a) it gave me an interesting picture to use at the top of a newsletter that is in effect about bankers and b) this “pink vegan mayo with BBQ sauce” gives me fond flashbacks to...
...Fitch Ratings downgraded Vanke in October from triple B plus to triple B, citing weaker than expected sales....
...The country pumped 13.3mn b/d of oil in November, the last month for which data is available from the Energy Information Administration, more than any country in history....
...Exhibit B: Norway’s parliament last month voted to open up for deep-sea mining in and close to the Arctic....
...Tell us what we should be doing — or should not be doing — via lexfeedback@ft.com or helen.thomas@ft.com....
...It had previously forecast demand to grow by 1mn b/d in 2024....
...Harbour’s oil and gas production will rise from about 190,000 barrels a day to more than 500,000 b/d when the deal completes....
...nathalie.thomas@ft.com...
...At full capacity, the refinery will process 650,000 b/d, which could transform the country into a net exporter of refined fuels....
...In 2023, however, oil demand is on track to average 102.2mn b/d — its highest ever annual level, according to the IEA....
...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....
...helen.thomas@ft.com Letter in response to this column: LSE reforms — a ‘loathed proxy adviser’ speaks out / From Sarah Wilson, Chief Executive, Minerva Analytics, Witham, Essex, UK...
...and 360,000 b/d in 2025....
...Saudi Arabia’s oil output is likely to remain at 9mn b/d until the end of December, 25 per cent lower than its maximum capacity of 12mn b/d. Read more on oil here...
...Adès: Dante Los Angeles Philharmonic The Dante Project, a full-length ballet with music by Thomas Adès and choreography by Wayne McGregor, had its premiere by the Royal Ballet in 2021....
...Nasser expected global oil demand to average as much as 104mn b/d in the third quarter of 2023, 2.4mn b/d higher than in the same period last year, driven largely by increased demand in China....
...helen.thomas@ft.com Letter in response to this column: Slapping a green label on mortgages ‘won’t cut it’ / From Steve Round, Co-Founder, SaaScada, London EC3, UK...
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