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...Peter Martin, Wood Mackenzie’s chief economist, said “the increased cost of capital has profound implications for the energy and natural resource industries”, and that higher rates disproportionately affect...
...The call comes a year after the collapse of a £1.7bn takeover approach for Wood from buyout group Apollo....
...The company plans to store wood chopped down from California’s forests in vaults designed to contain greenhouse gases....
...Of the 10bn barrels, not all will be oil; some will be less valuable natural gas. Even then, Galp will probably only extract a third of that available oil....
...Darren Woods received salary, stock options and a bonus amounting to $36.9mn in 2023, the US’s biggest oil company reported in a securities filing on Thursday....
...It started converting from coal to wood pellets in 2013....
...Daniel Yergin, vice-chair of CERAWeek host S&P Global, said Guyana was an extraordinary story and Exxon and its partners had clearly been awarded very competitive terms to develop the resources....
...Also, we go short Ark’s Cathie Wood and Unhedged’s Ethan Wu....
...European refineries are suited to Russian “medium-sour” oil but the switch to other types of crude has reduced their capacity utilisation, according to Jakub Zasada, natural resources and commodities director...
..., the largest natural gas producer in the US....
...“We are the largest exporter of natural gas in the world, and we will continue to be the largest exporter,” Granholm said....
...Meantime, competition is growing, not least from states like the UAE and Bhutan and wealthy (usually industrial) families....
...Meanwhile, oil patch dealmaking is back in the spotlight here after Diamondback Energy came out on top in the race for Endeavor Energy Resources this week — snagging a $26bn deal for one of the last remaining...
...That would be enough to cover the world’s total demand through 2032, according to energy research group Wood Mackenzie....
...Just last week, Enviva, once one of the world’s largest wood pellet producers, filed for bankruptcy in the US (wood pellets are marketed as a low-carbon alternative to fossil fuels)....
...He has built a house for his family, put his children through school and university, and bought his wife some nice clothes....
...Drax’s equity story remains dominated by its quest to extend public subsidies for its wood chip-burning power plant in Yorkshire. Its shares trade at a lowly 4.5 times forward earnings....
...At worst, the halt might affect projects with up to 100mn tonnes per annum of LNG capacity, says Wood Mackenzie. That’s about the same as the operating LNG capacity today....
...As a recent report by Currency Research Associates noted, “China buying gold and selling Treasuries mirrors how Europe’s central banks began to redeem dollars for gold in the late 1960s as the Bretton Woods...
...In the past four months alone, Exxon has announced a $60bn deal for Pioneer Natural Resources, the biggest producer in the Permian; Occidental has agreed to snap up CrownRock for $12bn; and Diamondback announced...
...Energy Source sat down with Exxon’s chief executive Darren Woods, who discussed how oil demand is at record levels despite a tepid world economy....
...Marc Filippino Tom Wilson is the FT’s natural resources editor. Thanks, Tom. Tom Wilson Thanks very much....
...US funds, family offices and asset managers are increasing gold’s allocation within their portfolios to 10-15 per cent, up from 5-7 per cent, says Habluetzel of Degussa....
...Meanwhile, my colleague Shotaro Tani digests the findings of an intriguing Wood Mackenzie report into how to try and cut emissions from liquefied natural gas....
...In an internal memo to staff, seen by the FT, Dotzenrath said she was retiring to spend time with her family....
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