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☆ Oil investors are ‘really responding’ to shareholder returns, Energy Intelligence says
▼ + stars: | 2024-02-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOil investors are ‘really responding’ to shareholder returns, Energy Intelligence saysNoah Brenner, executive editor at Energy Intelligence, discusses BP’s latest quarterly earnings and reflects on the outlook for the British oil giant.

Persons: Noah Brenner Organizations: Email, Energy Intelligence

LONDON (AP) — Climate activist Greta Thunberg was acquitted Friday of refusing to follow a police order to leave a protest blocking the entrance to a major oil and gas industry conference in London last year. “The conditions imposed on the protest were unclear, uncertain and unlawful,” defense lawyer Raj Chada said outside court. Thunberg and other climate protesters have accused fossil fuel companies of deliberately slowing the global energy transition to renewables in order to make more profit. Thunberg rose to prominence after staging weekly protests outside the Swedish Parliament starting in 2018. Last summer, she was fined by a Swedish court for disobeying police and blocking traffic during an environmental protest at an oil facility.

Persons: Greta Thunberg, John Law, Thunberg, Law, Raj Chada's, Raj Chada, Matthew Cox, ” Cox, “, ” Thunberg, Luke Staton Organizations: —, ’, Energy Intelligence Forum, Metropolitan Police, Swedish Locations: London, Swedish, Westminster, North, Scotland, Sweden

☆ Climate activist Greta Thunberg cleared of public order offense during London oil protest
▼ + stars: | 2024-02-02 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

LONDON — Swedish climate activist Greta Thunberg on Friday was cleared of a public order offense over a protest at an oil and gas conference in October. Oil executives had been meeting inside the hotel on the first day of the Energy Intelligence Forum, formerly known as the Oil and Money conference. Thunberg appeared at London's Westminster Magistrates' Court this week alongside two Fossil Free London protesters and two Greenpeace protesters. All five defendants pleaded not guilty after being accused of breaching Section 14 of the Public Order Act 1986 by failing to move their protest to a designated area. The judge in the London court ruled she had no case to answer, and also acquitted the other defendants.

Persons: Greta Thunberg, Thunberg, John Law Organizations: LONDON, InterContinental, Lane, Fossil Free, Greenpeace . Oil, Energy Intelligence Forum, Westminster, Greenpeace, Reuters Locations: Fossil Free London, London

LONDON (AP) — Climate activist Greta Thunberg went on trial Thursday for refusing to leave a protest that blocked the entrance to a major oil and gas industry conference in London last year. She and four Fossil Free London protesters have pleaded not guilty. Thunberg and other climate protesters have accused fossil fuel companies of deliberately slowing the global energy transition to renewables in order to make more profit. They also oppose the U.K. government’s recent approval of drilling for oil in the North Sea, off the coast of Scotland. Last summer, she was fined by a Swedish court for disobeying police and blocking traffic during an environmental protest at an oil facility.

Persons: Greta Thunberg, Thunberg, Matthew Cox, ” Cox, Cox, Luke Staton, ” Organizations: —, Energy Intelligence Forum, ’, Free, InterContinental, Swedish Locations: London, Swedish, Westminster, North, Scotland, Sweden

LONDON (AP) — Climate activist Greta Thunberg joined a march in southern England on Saturday to protest the use of private jets and the expansion of an airport. Hundreds of local residents and activists holding banners and placards that read “Ban Private Jets" marched to Farnborough Airport, which mostly serves private aircraft. Groups working to fight climate change, including the organizer of Saturday's protest, Extinction Rebellion, say private jets are much more polluting than commercial passenger airliners. “It is clear that private jets are incompatible with ensuring present and future living conditions on this planet," Thunberg said in a video that Extinction Rebellion posted on social media. ___Follow AP's coverage of climate change at https://apnews.com/climate-and-environment.

Persons: Greta Thunberg, Thunberg, We're Organizations: —, Jets, Farnborough Airport, Farnborough, Energy Intelligence Locations: England, Hampshire County, London, Swedish

☆ A showdown is brewing over money, oil and carbon. Here's what's at stake at the COP28 climate summit
▼ + stars: | 2023-11-29 | by ( Sam Meredith | ) www.cnbc.com time to read: +8 min

Global temperatures and greenhouse gas emissions continue to break records, with no continent left untouched by more frequent and intense extreme weather events. MoneyClimate finance is always a hotly debated talking point at the U.N. summit and COP28 promises to be no different. She anticipated three main debates around the use of oil, gas and coal — the burning of which is the chief driver of the climate crisis. "So, one is this 'phase out' or 'phase down' [of fossil fuels]. There is no credible scenario where CCS will allow continued use of fossil fuels, let alone expanding oil and gas.

Persons: Sean Gallup, HENRY NICHOLLS, Henry Nicholls, COP28, Alex Scott, Rich, Sultan al, Jaber, LUIS TATO, Luis Tato, Melanie Robinson, Robinson, Sultan Al Jaber, Francois Walschaerts Organizations: AG, Getty, United Arab Emirates, InterContinental, Fossil, Energy Intelligence, Afp, Organization for Economic Cooperation, Development, Getty Images, Abu, Abu Dhabi National Oil Company, Climate, World Resources Institute, CNBC, CCS Locations: Salzgitter, Germany, Dubai, Bonn, COP28, London, AFP, E3G, Egypt, COP27, UAE, Garissa, Africa, El Nino, Abu Dhabi, WRI, Brussels

SummaryCompanies Shell to cut 200 jobs, or 15%, of low-carbon solutions unitA further 130 jobs under reviewShell scraps hydrogen light mobility unitLONDON, Oct 25 (Reuters) - Shell (SHEL.L) will cut around 15% of the workforce at its low-carbon solutions division and scale back its hydrogen business as part of CEO Wael Sawan's drive to boost profits, it said on Wednesday. Shell plans to sharply scale back its hydrogen light mobility operations, which develop technologies for light passenger vehicles, the company said. It will also merge two of four general manager roles in the hydrogen business, Shell said. The retreat from the light mobility sector follows the departure of the business's manager Oliver Bishop several months ago. Bishop today leads rival BP's (BP.L) global hydrogen mobility business.

Persons: Wael Sawan's, Sawan, Shell, Oliver Bishop, BP's, London . Sawan, Ron Bousso, Jason Neely, Jan Harvey Organizations: Shell, Reuters, Solutions, Sawan, Energy Intelligence, BP, Exxon Mobil, Chevron, Thomson Locations: Shell, Britain, Netherlands, Europe's, Louisiana, London ., U.S

☆ UK police charge climate activist Greta Thunberg after protest
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +1 min

Swedish climate campaigner Greta Thunberg is detained during an Oily Money Out and Fossil Free London protest in London, Britain, October 17, 2023. REUTERS/Clodagh Kilcoyne Acquire Licensing RightsLONDON, Oct 18 (Reuters) - Climate activist Greta Thunberg was charged by British police on Wednesday after she and others were arrested at a protest outside a London hotel where an oil and gas conference was taking place. Twenty-five other individuals were also charged in relation to Tuesday's protest, police added. Thunberg became the face of young climate activists worldwide after staging weekly protests in front of the Swedish parliament in 2018. Video footage from Tuesday showed Thunberg, wearing a badge with the slogan 'Oily Money Out' standing calmly as two police officers spoke to her and still images showed her being placed in the back of a police van.

Persons: Greta Thunberg, Clodagh, Thunberg, Farouq Suleiman, Sachin Ravikumar Organizations: REUTERS, British, Intercontinental, Energy Intelligence, Thomson Locations: London, Britain, Sweden, Norway, Germany

CNN —Greta Thunberg was arrested at a protest outside an oil and gas conference – formerly known as the “Oil and Money” conference – at a luxury five-star hotel in London on Tuesday, eyewitnesses told CNN. But it wouldn’t confirm to CNN that Thunberg was among those arrested. Thunberg and other protestors blocked entrances at the hotel, trying to prevent delegates from entering. We are choking from their fumes.”Greta Thunberg joined protesters during the demonstration which used the slogan: "Oily Money Out." Tuesday’s protest marks the first of three days of action aimed at shutting down the conference, Greenpeace said

Persons: Greta Thunberg, Thunberg, Henry Nicholls, “, ” Organizations: CNN, Money, London’s Metropolitan Police, Intercontinental, Energy Intelligence Forum, Aramco, Free, Getty, Greenpeace Locations: London, London’s Park, Shell, Free London, greenwashing, AFP, Swedish, Malmö, Sweden

☆ Some demand for energy in Europe could be 'lost forever' after a terrible year for oil and gas, exec says
▼ + stars: | 2023-10-17 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Some of the lost demand for energy in Europe may be gone for good, the CEO of Vitol said. Global gas prices soared in 2022 after Russia cut off its gas supply to Europe, disrupting the energy sector. "We can expect some of that lost demand to stay lost forever." AdvertisementAdvertisementTurmoil and soaring prices in the energy sector have crimped demand in Europe, and the chief executive of Vitol warned that some of that demand may never return. Hardy, speaking at the Energy Intelligence Forum, added: "We can expect some of that lost demand to stay lost forever."

Persons: Vitol, —, Russel Hardy, Hardy, Fatih Birol, Birol Organizations: Global, Service, Reuters, Energy Intelligence, International Energy Agency, Financial Times Locations: Europe, Russia, London, Ukraine, Moscow, Israel

☆ Climate activist Greta Thunberg arrested at London protest after disrupting major oil conference
▼ + stars: | 2023-10-17 | by ( Sam Meredith | ) www.cnbc.com time to read: +5 min

Henry Nicholls | Afp | Getty ImagesLONDON — Swedish climate activist Greta Thunberg on Tuesday was detained by police after joining hundreds of protesters to disrupt a major energy conference in London. Thunberg was arrested outside the InterContinental London Park Lane hotel during the "Oily Money Out" protest organized by Fossil Free London and Greenpeace. Their only plan is to profit at our expense," Nuri Syed Corser, an organizer with Fossil Free London, said in a statement. Fossil Free London said 27 people have been arrested so far and protests would continue outside the conference through to Thursday. Climate activists protest outside the InterContinental London Park Lane during the "Oily Money Out" demonstration organised by Fossil Free London on the sidelines of the opening day of the Energy Intelligence Forum 2023 in London on October 17, 2023.

Persons: Greta Thunberg, Henry Nicholls, Thunberg, Nuri Syed Corser, Corser, Vicki Hollub, Amin Nasser, Wael Sawan, We've, Tengku Muhammad Taufik, I'm, Taufik Organizations: InterContinental, Fossil Free, Greenpeace, Energy Intelligence, Afp, Getty, LONDON, Lane, Government, Energy Intelligence Forum, Money, Occidental Petroleum, Shell, The Met Police, Amnesty, Petronas, CNBC, Fossil Locations: Swedish, Fossil Free London, London, Saudi Aramco, Abu Dhabi

☆ OPEC+ production cuts are a 'precautionary measure,' Energy Intelligence Group says
▼ + stars: | 2023-10-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOPEC+ production cuts are a 'precautionary measure,' Energy Intelligence Group saysAmena Bakr, chief OPEC correspondent at Energy Intelligence, discusses the outlook for the oil market.

Persons: Amena Bakr Organizations: Energy Intelligence Group, Energy Intelligence Locations: OPEC

FRANKFURT, Germany (AP) — Oil prices have risen, meaning drivers are paying more for gasoline and truckers and farmers more for diesel. Here are things to know about the recent increase — and where prices might be going:WHY HAVE OIL PRICES RISEN? “The last thing you want to do is fuel inflation again with much higher oil prices. Diesel prices have risen as well, along with higher oil costs and refineries facing shortages of the specific kinds of crude best for making diesel. HOW DO HIGHER OIL PRICES HELP RUSSIA?

Persons: Jorge Leon, That's, Leon, ” Leon, “, ”, Thu, Nguyen, Commerzbank, Gary Peach, Benjamin Hilgenstock, Joe Biden, Biden, Josh Boak Organizations: —, Saudi, Brent, Rystad Energy, Energy Intelligence, U.S, AAA, Diesel, Kremlin, Kyiv School of Economics, Policy Center, Union, Group, U.S . Energy Information Administration, Associated Locations: FRANKFURT, Germany, Russia, Saudi, OPEC, China, Europe, U.S, Ukraine, Moscow, Brussels, Washington

☆ Fundamentals and sentiment aren't aligned in the oil market, says Energy Intelligence's Amena Bakr
▼ + stars: | 2023-08-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFundamentals and sentiment aren't aligned in the oil market, says Energy Intelligence's Amena BakrAmena Bakr, Chief OPEC Correspondent and Deputy Dubai Bureau Chief at Energy Intelligence, discusses the upcoming OPEC meeting and the impact of recent output cuts on oil prices.

Persons: Bakr Amena Bakr Organizations: OPEC, Dubai, Energy Intelligence

☆ 3 reasons countries around the world want to break up with the dollar
▼ + stars: | 2023-07-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +6 min

The US dollar has been the world's reserve currency for decades, but its dominance is fading. US monetary policies, the strong USD, and structural shift in the global oil trade also contribute. Here are three other reasons countries around the world are attempting to line up plans to possibly move away from a dollar-dominated world. The arrangement was formalized in 1945 when the oil-giant country Saudi Arabia and the US reached a historic deal wherein Saudi Arabia would sell its oil to America only using the greenback. In return, Saudi Arabia would reinvest excess dollar reserves into US treasuries and companies.

Persons: Valéry Giscard d'Estaing, —, Narendra Modi's, Luiz Inácio Lula da Silva, It's, Donald Trump, wasn't, Joe Biden, Prince Mohammed bin Salman, Jamal Khashoggi, Sarah Miller Organizations: Service, International Monetary Fund, Wilson, Reserve Bank of, Indian, Reuters, Allianz, Global, US, Washington Post, Energy Intelligence Locations: Russia, Wall, Silicon, Western, Ukraine, Washington, Brazil, Argentina, Bangladesh, India, France, Reserve Bank of India, China, South Africa, Saudi Arabia, America, Saudi

☆ OPEC+ decision was a 'mega deal,' says Energy Intelligence
▼ + stars: | 2023-06-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOPEC+ decision was a 'mega deal,' says Energy IntelligenceAmena Bakr, deputy Dubai bureau chief and chief OPEC correspondent at Energy Intelligence, says it's "a lot for the market to take in."

Persons: Amena Bakr Organizations: Energy, Energy Intelligence Locations: Dubai

[1/2] A general view shows a special ship, "Neptune", the floating liquefied natural gas terminal, during the inauguration of the Liquefied Natural Gas (LNG) terminal 'Deutsche Ostsee' in the port of Lubmin, Germany January 14, 2023. Northweat Europe LNG imports Northwest Europe LNG importsAnalysts estimate that Europe accounted for more than a third of global spot market trades in 2022, from around 13% in 2021. Such exposure could reach more than 50% this year if no long-term contracts were signed. Morten Frisch, senior partner at Morten Frisch Consulting, said Europe ideally needs about 70-75% of its LNG supply under firm long-term sale and purchase agreements (SPAs). LNG spot market prices LNG spot market pricesBut they are expected to rise again, with a hot summer that could cut hydro levels, a cold 2023-2024 winter and a rebound in Chinese LNG demand all seen as among the risk factors for price.

U.S. West Texas Intermediate crude futures (WTI) gained 98 cents, or 1.4%, to $72.31 a barrel. "The OPEC upgrade in Chinese oil demand outlook also lent support, though investors were still concerned over a cascading financial crisis after the recent collapse of U.S. banks," he said, noting that whether WTI can stay above $70 a barrel is being closely watched. The Organization of the Petroleum Exporting Countries (OPEC on Tuesday further raised its forecast for Chinese oil demand growth in 2023 due to the relaxation of the country's COVID-19 curbs, although it left total global demand steady, citing potential downside risks for world growth. China's demand recovery is bullish for oil prices, said Stefano Grasso, a senior portfolio manager at 8VantEdge in Singapore. U.S. crude oil inventories rose by about 1.2 million barrels in the week ended March 10, in line with a Reuters poll, while fuel stockpiles fell, according to market sources citing American Petroleum Institute figures on Tuesday.

TOKYO, March 15 (Reuters) - Oil prices rebounded more than 1% on Wednesday, recovering from the previous day's plunge, as a stronger OPEC outlook on China's demand helped offset bearish global investor sentiment in the wake of the recent U.S. bank failures. The Organization of the Petroleum Exporting Countries (OPEC on Tuesday further raised its forecast for Chinese oil demand growth in 2023 due to the relaxation of the country's COVID-19 curbs, although it left the global demand total steady, citing potential downside risks for world growth. China's demand recovery is bullish for oil prices, said Stefano Grasso, a senior portfolio manager at 8VantEdge in Singapore. "The consensus is that the oil supply-demand balance will tighten in the second half, driven by China rebound, unless a severe global recession hits," he added. Meanwhile, U.S. crude oil inventories rose by about 1.2 million barrels in the week ended March 10, in line with a Reuters poll, while fuel stockpiles fell, according to market sources citing American Petroleum Institute figures on Tuesday.

☆ Oil prices bounce back, helped by stronger OPEC outlook for China
▼ + stars: | 2023-03-15 | by ( Yuka Obayashi | ) www.reuters.com time to read: +2 min

TOKYO, March 15 (Reuters) - Oil prices rose in early Asia trade on Wednesday, recovering from the previous day's plunge, as a stronger OPEC outlook on China's demand helped offset bearish global investor sentiment in the wake of the recent U.S. bank failures. Brent crude futures climbed 62 cents, or 0.8%, to $78.07 a barrel by 0058 GMT. U.S. West Texas Intermediate crude futures (WTI) gained 70 cents, or 1.0%, to $72.03 a barrel. "The oil market has bounced back on its own after the recent sharp losses," said Toshitaka Tazawa, an analyst at Fujitomi Securities Co Ltd, adding some investors had taken advantage of the slide to hunt for bargains. Meanwhile, U.S. crude oil inventories rose by about 1.2 million barrels in the week ended March 10, while fuel stockpiles fell, according to market sources citing American Petroleum Institute figures on Tuesday.

☆ OPEC unlikely to recommend 'rash' changes to current oil policy, says Amena Bakr
▼ + stars: | 2023-01-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOPEC unlikely to recommend 'rash' changes to current oil policy, says Amena BakrAmena Bakr, deputy Dubai bureau chief & chief OPEC correspondent at Energy Intelligence, joins 'The Exchange' to discuss OPEC's upcoming committee meeting, international demand, and downside risk.

☆ Saudi Arabia and China will align on everything from security to oil, but agree not to interfere on domestic issues
▼ + stars: | 2022-12-09 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +6 min

Riyadh and Beijing were keen to stress “the importance of stability in the world oil markets,” noting that Saudi Arabia is a reliable exporter of crude oil to its Chinese partner. China also affirmed its “opposition to any actions that would interfere in the internal affairs of the Kingdom of Saudi Arabia,” without adding more details. On Friday, Xi invited Saudi King Salman bin Abdulaziz Al-Saud to visit China, according to Saudi state TV. President Xi was given a warm welcome in Saudi Arabia with ceremonies on Thursday. Saudi Arabia “is pursuing a multipolar strategy of strong strategic ties,” added Shihabi.

☆ Energy Intelligence's Amena Bakr breaks down OPEC+ meeting and Saudi response
▼ + stars: | 2022-11-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEnergy Intelligence's Amena Bakr breaks down OPEC+ meeting and Saudi responseAmena Bakr, Energy Intelligence deputy bureau chief, joins 'The Exchange' to discuss Saudi Arabia's denial of being in talks with OPEC+ to increase oil production.

☆ Gulf Arab states can’t give up oil. But they can slash their emissions
▼ + stars: | 2022-11-11 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +15 min

Abu Dhabi CNN —As Western states try to wean themselves off their addiction to hydrocarbons, Gulf oil nations have been pushing back hard, warning that a hasty transition away from fossil fuels will be counterproductive. According to the World Bank, Qatar had the highest carbon emissions per capita as of 2019, followed by Kuwait, Bahrain, the United Arab Emirates and Saudi Arabia. So, investment in clean energy projects and renewables “makes very good business sense and PR sense for the Gulf,” he said. Gulf petro-states are warning against a quick transition away from hydrocarbons, with the UAE calling for a “mixed energy” approach that minimizes emissions without cutting hydrocarbons. Much of the hydrocarbons exported by Gulf states go to some of the world’s biggest consumers and polluters, including China and India.

"That announcement was making it appear like he was throwing a bone to the oil industry," said Tricia Curtis, CEO of consultancy PetroNerds, who dismissed the offer. Register now for FREE unlimited access to Reuters.com Register"What if oil does not fall to that price: Do we just keep our reserves low?" U.S. oil prices hit $120 per barrel this year and did not trigger a production boom because of shortages and high costs for labor and equipment, said Hunter Kornfeind, oil market analyst at Rapidan Energy Group. Rebecca Babin, senior energy trader at CIBC Private Wealth, said tight oil supplies have pushed up price expectations into 2024. If the Biden administration wants to boost oil supplies, it "should change its policies around producing more oil and gas in the United States," said Frank Macchiarola, a senior vice president at trade group American Petroleum Institute.

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