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...Commodity traders are anticipating huge increases in demand and volatility in gas and electricity markets as the global energy system transitions away from more polluting oil and coal....
...In the summer of 2020 when the Financial Times reported that Japanese government officials had tried to merge Honda and Nissan, sceptics scoffed at the idea as akin to mixing “oil and water”....
...Oil trading represents about 30 per cent of total revenues. Alongside gas and power trading, the group is investing in green technologies such as battery storage and biogas....
...Access to some of Guyana’s 11bn barrels of offshore oil was a key rationale for Chevron’s acquisition of Hess announced last year....
...Jeffrey Dellapina, chief financial officer of Vitol, the world’s largest independent oil trader, said there was “no chance” that it would ever consider an initial public offering....
...Tristan Smith, a shipping and energy researcher at UCL, said weak environmental regulations risked rewarding investments in older ships and meant that “higher polluting ships stay in the fleet longer”....
...An Australian court has dismissed an attempt by members of the indigenous population of the remote Tiwi Islands to block a new gas pipeline being built by oil and gas major Santos, ruling that it would not...
...Many oil product tankers had started to take the longer route around the Cape of Good Hope rather than going through the dangerous Red Sea after the Marlin Luanda, a tanker carrying the refined oil product...
...Woodside merged with BHP’s oil and gas business in 2022 and has thrived as LNG prices soared in the wake of Russia’s invasion of Ukraine....
...of a stake in a Guyana oil project that is central to the deal....
...But the oil and gas industry is up in arms....
...Its investors lent about £130mn to the utility’s holding company Kemble Water Finance Ltd in 2018 and 2020....
...The takeovers come as the largest companies seek to deploy huge profits made during the energy crisis to buy up prospects in the oil market....
...The fund “has decided to exclude the companies Jardine Matheson Holdings Ltd, Jardine Cycle & Carriage Ltd and PT Astra International Tbk due to unacceptable risk of the company contributing to or being...
...Scotland’s only remaining oil refinery at Grangemouth will cease operations in 2025, its owner said on Wednesday, putting about 400 jobs at risk as the company grapples with lower demand and tightening margins...
...On average, SUVs also consume about a fifth more oil than an average medium-sized car, according to the International Energy Agency....
...BYD, which last month said it was “officially opening a new era of electricity that is lower than oil”, is discounting nearly all the electric and hybrid car models it has on the market....
...News round-up Norway oil fund boss criticises ExxonMobil’s ‘aggressive’ climate lawsuit (FT) Packaging group Mondi approaches UK rival DS Smith for £10bn tie-up (FT) Petrobras plans $100bn in spending...
...The report titled Mission Invisible: tackling the oil and gas industry’s methane challenge, which is due to be published this week, should provide a wake-up call to the global oil and gas industry....
...Alongside rivals Trafigura, Vitol and Mercuria, Gunvor remains one of the world’s largest independent oil traders....
...Trafigura last week said gas and power trading had emerged as a “third pillar” for the company, alongside oil trading and metals trading, as it announced record net profits of $7.4bn for its latest financial...
...This week, one of Europe’s biggest pension funds sold out of oil and gas majors, including Shell and BP, over concerns the companies were making little progress to transition to greener businesses....
...Both companies count LNG as their main product but also produce crude oil and pipeline gas from their operations....
...BYD has slashed prices of almost every model in its line-up since the start of the year under the slogan “electricity is cheaper than oil”, followed by its competitors including Geely and SAIC-GM-Wuling,...
...Ambani’s long-running strategy is to diversify Reliance, one of India’s largest conglomerates, beyond its core assets in oil and gas refining into consumer-facing digital businesses....
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