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...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....
...It was backed by several deep-pocketed investors, including BlackRock, US oil refiner Valero Energy and Poet, a top US biofuel refiner....
...“A lot of the sustainability talk comes from marketing departments,” says Lorensen, dismissively. So he and de Gier came up with 10 new product design principles....
...“We’re building a castle on sand”, said one of the report co-authors, Marc Lepere, sustainability lead at King’s Business School in London and co-founder of a carbon accounting start-up....
...Ben Luckock, co-head of oil trading at Trafigura, said the structure of the deal was a “sensible model” for the industry and indicated the commodity house would be open to replicating it in the future....
...The renewables and energy solutions business, which includes Shell’s wind and solar projects, will be combined with the oil refining and marketing units to create a new downstream and renewables division...
...However, investors scored a win at Valero Energy, a fuel refining and retail company, which agreed to make pay changes based on climate without a shareholder vote....
...The company has committed to building a new hydrogen production facility in a major refining and petrochemical hub outside Houston, Texas....
...The S&P Refining & Marketing index is up nearly 50 per cent this year, even as the broader market has fallen....
...My business experience of this marketing strategy has fallen somewhere in between the two examples above — and we are still refining our marketing mix....
...Garland said that refining companies were still under pressure. “Volumes are improving substantially,” he said, “but we need the whole world to get back to where it was.”...
...As well as cutting carbon output in its upstream production business, Shell’s downstream refining and marketing divisions will focus on making and selling renewable fuels, while offering charging stations...
...Other refiners involved in renewable diesel include Valero Energy, whose Diamond Green Diesel joint venture with the fats recycler Darling Ingredients is more than doubling the size of a plant in Louisiana...
...As it happens, the $500m fund he co-manages made profits of about $10m....
...The company was also able to maintain high capacity in its refining business while oil prices were low....
...The upshot of the latest development is that Pavel Maslovskiy, co-founder, has been shunted for the umpteenth time and in comes Maksim Meshcheriakov -- a man with a pre-Pog web presence so discreet Google...
...Tufan Erginbilgic, head of BP’s refining and marketing business, is stepping down as part of a broad reshuffle led by the new chief executive Bernard Looney, having missed out on the top job....
...Further assets will be targeted across the sector, from exploration and production and oil services to refining and marketing, in Europe, Asia, Africa and South America....
...Mr Rettore previously was president of the international division at CHS, the largest US grain co-operative....
...ExxonMobil, Royal Dutch Shell and BP are among global majors with significant exploration and production divisions as well as refining, marketing and trading arms that can provide a buffer when oil prices...
...They will also force US refining companies that have been customers for Venezuelan crude, including Valero Energy, to find other sources for the heavy oil they have been buying from PDVSA....
...Valuation: Currently we value the US business at c. £10bn without adjusting for hold co cost share and debt share and c. £6.8bn adjusting for hold co cost and debt share....
...To drive change, he set up a project management office, picking representatives from functions including finance, HR and marketing, to run what was called the “Adnoc++” initiative....
...Bed Bath & Beyond has announced that seven board members, including two co-founders and five independent directors, will leave its board under mounting pressure from a trio of activists....
...The fund will buy companies active in the energy supply chain and will make acquisitions of assets — in exploration and production, refining and marketing as well as oilfield services — through them....
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