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...While Adnoc had hoped to acquire all of Gunvor, or a majority stake, the trader’s chief executive Torbjörn Törnqvist is not willing to give up control of the group he co-founded in 2000, two people involved...
...The revision comes after the company pledged to devote a higher proportion of spending to oil and gas last year, and other oil groups such as BP have slowed their retreat from oil....
...The stock had risen 27 per cent over the past five years to Tuesday, compared with a 64 per cent rise in the S&P 500 oil refining and marketing index over the same period....
...Jim PickardThere have been an awful lot of U-turns....
...Shell has struck a deal to sell its stake in a German refinery co-owned with Russia’s Rosneft as it continues to cut ties with Moscow and reshape its refining portfolio....
...Charm’s original plan was to use this oil to make hydrogen, co-founder and chief executive Peter Reinhardt told me, but that application proved “economically uninteresting”....
...Franck Demay, chief executive at Petroineos Refining, said he expected refinery operations to continue until early 2025....
...There is a limited, if admittedly growing, data set on zigzags and U-turns in policy and technology....
...It was backed by several deep-pocketed investors, including BlackRock, US oil refiner Valero Energy and Poet, a top US biofuel refiner....
...Petrol and diesel prices are back on the rise amid tightness in the oil market and constrained refining capacity....
...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....
...This program would facilitate the production and refining of commodities that create risk in the currency markets, including but not limited to oil, natural gas, wheat, fertiliser inputs (eg potash), palladium...
...ExxonMobil, the biggest western oil producer, has made a sharp U-turn on monitoring its methane emissions. Carbon capture is just one part of the solution, says UN IPCC chair Jim Skea....
...He did a U-turn on TikTok, now saying its Chinese parent company should retain ownership....
...The United States will consider all appropriate responses in full co-ordination with its international allies and partners.”...
...But Icahn could rely on one secret weapon of sorts to pour oil on troubled waters....
...The CO₂ emitted in the production is also half the global average for a barrel of oil of 18kg/b, he added....
...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....
...To quote her song (and the name of another of her fragrances), Thank U, Next!...
...In oil-rich Angola, billions of US dollars were stolen by former President José Eduardo dos Santos and his cronies, with dire results — 53 per cent of Angolans live on less than $2.15 per day....
...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...
...So why the sudden U-turn in Poland? I mean, what’s going on here? Tony Barber Well, I think to call it a U-turn would be a little exaggerated....
...Grobler said that the Fischer-Tropsch technology at the core of its business was its best guarantee of a post-oil future....
...“The fact that petrochemical feedstock demand continues to keep growing is what pushes our view of peak oil out into the early 2030s,” said Alan Gelder, vice-president of refining, chemicals, and oil markets...
...The capture of carbon dioxide emissions from industrial processes, ranging from manufacturing to oil refining, and its planned storage in disused North Sea wells is a key part of the UK’s goal of hitting...
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