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...On Monday, Aramco outlined its latest in a number of tie-ups with China’s large petrochemical producers, each designed to ensure the state-controlled Saudi company has committed buyers in the future for...
...According to his LinkedIn profile, he previously worked in government affairs for Cheniere Energy and as a senior adviser to the chief of executive of Tellurian Inc, two companies which pioneered the development...
...Gas and power trading has overtaken oil as the biggest source of profits in the sector, contributing almost half of the industry’s gross earnings in 2022, according to Oliver Wyman....
...Dunand has said that half of the company’s investments each year will go into energy transition projects....
...Turkey has not banned its companies from dealing with Russian oil, so GTS is not breaking any rules by receiving the cargoes....
...Privately held Vitol, which employs about 1,800 people, made a record $15.1bn in net profit in 2022 and about $13bn in 2023, making it one of the most profitable companies in the world on a per capita basis...
...innovation officer Leigh-Ann Russell is leaving for an external job after 18 years at BP, while Anja-Isabel Dotzenrath, who joined in 2022 to head BP’s gas and low-carbon business, will retire, the FTSE 100 oil...
...Hedge fund Citadel expects ‘extremely tight’ global oil market 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...
...The company declined to comment on the profit figure, which dwarfed its biggest competitors and was larger than some of the world’s biggest oil producers, including Italy’s Eni....
...The Singapore-registered company is one of a handful of privately held firms that help form the backbone of the global economy, moving everything from oil and gas to metals and power around the world....
...But he told the Financial Times on Tuesday that US-listed oil companies benefited from a deeper pool of capital, higher valuations and “more positive” attitudes from investors....
...The outlook for oil demand this year remains unclear. 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....
...“The company has a very diversified shareholding base of 1,200 . . . compared to the previous generation,” he said....
...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....
...The price of crude oil was little changed on Monday. Brent, the global benchmark, was down 0.3 per cent while WTI, the US equivalent, fell 0.8 per cent....
...His total pay for 2023 was just over £8mn, including approximately £4.7mn under the company’s long-term share award....
...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...
...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...
...“We had a lot of national energy companies, we had midsized energy companies, we had different players out there that could actually grow their market from 2022 to 2023,” he told the Financial Times....
...He was appointed to the leadership team as head of oil and petroleum products in 2007....
...The company will report its 2023 financial results on Sunday....
...The company produced an average of 10.7mn b/d of crude oil and other liquids last year, down from 11.5mn b/d in 2022....
...Despite state-led production cuts, which reduced Saudi Aramco’s oil production about 7 per cent year-on-year, the state-owned company was able to juice its total annual dividend by 30 per cent to a whopping...
...LGIM, a top 20 shareholder in the ASX-listed company, also intends to vote against Woodside’s climate action plan and progress report....
...(Lukanyo Mnyanda) Results season shows primacy of returns over potential Meanwhile in the corporate world, the annual reporting season for Europe’s oil and gas companies showed, once again, that investors...
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