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...capturing and storing carbon but it has no plans to reduce the amount of oil and gas it produces.Nasser said Aramco would also invest more in cleaner forms of energy but had struggled to find a market for products...
...For some products, such as vacuum gas oil (VGO) — a partially refined product used to make transportation fuels including petrol or diesel — the flow from Russia to Europe via Dörtyol appears even clearer...
...Germany’s gross domestic product shrank 0.3 per cent last year and exports fell 4.6 per cent in December, a sharper decline than economists had expected....
...Groups such as Vitol and Trafigura, which traditionally relied on political connections, handshakes and logistical skill to move natural resources from remote locations to willing buyers, are increasingly...
...The changes reflect chief executive Wael Sawan’s plans to keep oil production flat and expand sales of liquefied natural gas while being more selective about the types of low-carbon energy products it sells...
...Out of 39 fusion companies surveyed by the Fusion Industry Association (FIA) last year, a third said commercial viability would be demonstrated between 2031 and 2035, and another third said it would happen...
...The growth was driven by gas and liquefied natural gas volumes, which grew by 19 per cent and 24 per cent respectively....
...Other lower-carbon energy products, such as hydrogen and biofuels, depend on gas or power or other commodities for their production or transportation creating new cross-commodity opportunities for trading...
...He was appointed to the leadership team as head of oil and petroleum products in 2007....
...In 2017, van Beurden was the first oil major chief executive to set targets to cut the carbon intensity of the company’s products and subsequently led a push into areas such as renewable power generation...
...The V&A’s new show, Tropical Modernism, revolves around this odd confluence....
...Energy Source is written and edited by Jamie Smyth, Myles McCormick, Amanda Chu and Tom Wilson, with support from the FT’s global team of reporters....
...“A bit tougher on [refined] oil products because most of the flows typically go from east to west, so that gets impacted.”...
...The UK Treasury said on Thursday it was imposing sanctions because of his association with Paramount SA which has been “involved in obtaining a benefit from or supporting the government of Russia”....
...has since set a goal to reduce emissions from its own operations to net zero by 2050, but in contrast with many of its peers it does not have a target to cut so-called Scope 3 emissions from use of its products...
...This would include accounting for all the emissions of its products sold to its customers, known as scope 3....
...“In some ways, [the UK approach] is even more innovative in that they’ve completely moved it out of the nuclear regulator,” says Andrew Holland, executive director of the Fusion Industry Association, a US-based...
...Under dos Santos, who ruled Angola for almost four decades before losing power in 2017, Trafigura dominated the supply of petroleum products in Angola, generating bumper profits that supported the company...
...“Russia’s been quite successful at building up its own fleet, finding alternative insurance, building an ecosystem of people who can help move crude and products” said Ben Cahill, a senior fellow at US-based...
...These include regulations on the level of recycled content in end products and on final recovery rates for materials at end of life....
...China produced 1bn tones of steel in 2022, representing more than half of global production, according to the World Steel Association. The second-largest producer, India, made 154mn tonnes....
...Energy Source is written and edited by Jamie Smyth, Myles McCormick, Amanda Chu, Tom Wilson and David Sheppard, with support from the FT’s global team of reporters....
...has occurred as crop disease and poor weather slashed yields in west Africa, causing output to plummet as demand for chocolate grows in emerging markets and consumers in rich countries buy more premium products...
...That means as much as 85 per cent of the industry’s carbon emissions are produced when its products are burnt by consumers....
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