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☆ Energy Industry Wrestles Over Going Green Too Fast
▼ + stars: | 2023-03-05 | by ( Collin Eaton | ) www.wsj.com time to read: 1 min

Some U.S. oil companies reported record profits as domestic gasoline prices hit historic highs in the past year. While the race to develop cleaner energy intensified over the past year, an uneasy consensus emerged on a parallel track: At least in the short term, the world needs more oil and gas, too. The dueling—and sometimes conflicting—imperatives are expected to be core topics in Houston starting Monday when oil executives, climate hawks and government officials gather at the industry’s premier annual energy summit.

☆ Germany's gas situation is secure this winter, regulator says
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: 1 min

[1/2] The landfall facilities of the 'Nord Stream 1' gas pipeline are pictured in Lubmin, Germany, March 8, 2022. REUTERS/Hannibal HanschkeBERLIN, Jan 17 (Reuters) - Germany's gas supply situation is secure and gas shortage is unlikely to happen this winter, the head of the country's network regulator said on Tuesday. "With savings, gas inflows, good storage levels ... We are very, very optimistic that we will no longer have to worry about a gas shortage this winter," Klaus Mueller said at an energy summit organised by Handelsblatt newspaper. Mueller said he expected a relatively warm winter which will help the power supply situation in both France and Germany. Reporting by Riham Alkousaa, Christoph Steitz and Vera Eckert Editing by Paul CarrelOur Standards: The Thomson Reuters Trust Principles.

☆ Uniper CEO: Nord Stream can be fixed, but unclear if Germany wants Russian gas
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: 1 min

Companies Uniper SE FollowGazprom PAO FollowFRANKFURT, Jan 17 (Reuters) - The damaged Nord Stream pipelines can be fixed in around six months to a year, the boss of bailed out German gas trader Uniper said on Tuesday, adding that it still remained unclear whether Germany wants the supply relationship to continue. "The first question that needs answering: what's the political will on a European level and in Berlin to bring Russian gas to Germany?" outgoing Uniper (UN01.DE) CEO Klaus-Dieter Maubach told the annual Handelsblatt Energy summit. Reporting by Christoph Steitz and Vera Eckert; editing by Matthias WilliamsOur Standards: The Thomson Reuters Trust Principles.

"We have the ambition to become a profitable company in 2023," Laege said, adding the group had also secured long-term regasification capacity at the planned Hanseatic Energy Hub terminal in Stade, Germany. Laege said that Sefe, formerly called Gazprom Germania, was successful in sourcing LNG mainly from the United States, both short-term deals and for longer periods. The company, whose name is short for Securing Energy for Europe, had already unloaded a first cargo at Dunkirk, he said. However, next winter and beyond could be tight again if cold periods and a fast recovery of Asian LNG demand coincide. Reporting by Vera Eckert, Christoph Steitz, Tom Kaeckenhoff, editing by Kirsti Knolle and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ Wintershall Dea urges Germany to clear CO2 exports for storage
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, Jan 16 (Reuters) - German oil and gas producer Wintershall Dea (WINT.UL) (BASFn.DE) urged Berlin on Monday to clear exports of carbon dioxide to European neighbours that would be buried in so-called carbon capture and storage facilities (CCS). Wintershall is involved in various CCS projects, including in Norway and Denmark, which aim to store CO2 in depleted oil and gas fields. The early capture of CO2 emissions in the production process and their subsequent storage could help achieve climate targets and provide a new area of activity for hydrocarbon exploration companies. Unavoidable residual emissions in Germany currently amount to well over 40 million tonnes per year from industries such as chemicals and cement, Langemann said. Wintershall Dea plans to build up a business capturing 20-30 million tonnes of CO2 per annum by 2040.

☆ Qatar, UAE energy ministers say gas will be needed for long time
▼ + stars: | 2023-01-14 | by ( ) www.reuters.com time to read: +1 min

ABU DHABI, Jan 14 (Reuters) - The world will need natural gas for a long time and more investment is required to ensure supply security and affordable prices during the global energy transition, energy ministers of Qatar and the United Arab Emirates said on Saturday. Saad al-Kaabi, Qatari state minister for energy, told the Global Energy Summit in Abu Dhabi that gas "is not a transition fuel" but a destination fuel, adding it was unfair for some in the West to say African countries should not be drilling for oil and gas. UAE Energy Minister Suhail al-Mazrouei, speaking on the same panel, agreed that "for a very long time, gas will be there" and that while more renewable energy would be installed, more investment was needed in gas as a base load. Reporting by Yousef Saba and Rachna Uppal; Writing by Ghaida Ghantous; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.

☆ UAE energy minister: OPEC+ faces oil market volatility in both supply and demand
▼ + stars: | 2023-01-14 | by ( ) www.reuters.com time to read: +1 min

CAIRO, Jan 14 (Reuters) - OPEC+ is facing "volatile prospects" in oil markets both in supply and demand, UAE energy minister Suhail al-Mazrouei told Asharq TV on Saturday. OPEC+ production capacity was down 3.7 mln bpd due to fewer investments in the oil sector, Al-Mazrouei said. He also said UAE is taking preemptive steps to compensate for the reduced oil production capacity in some countries by bringing forward its five million barrel per day oil production capacity expansion to 2027 from a previous target of 2030. Regarding gas, Al-Mazrouei told the Atlantic Council Global Energy Summit earlier that the world would need natural gas for a long time and more investment was required to ensure supply security and affordable prices during the global energy transition. Reporting by Ahmed Tolba and Yasmin Hussein, Editing by Angus MacSwan and Christina FincherOur Standards: The Thomson Reuters Trust Principles.

☆ 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.

☆ Companies are making climate pledges they don't have the capacity to keep, Microsoft President Brad Smith says
▼ + stars: | 2022-10-26 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +3 min

Brad Smith, president of Microsoft Corp., speaks during a climate initiative event at the Microsoft Corp. campus in Redmond, Washington, U.S., on Thursday, Jan. 16, 2020. SEATTLE — Companies are on the hot seat to respond to climate change like never before, but most corporate leaders don't have the tools necessary to meet those pledges, said Microsoft President Brad Smith last week at the inaugural Breakthrough Energy Summit in Seattle. "By our count, 3,470 companies around the world have signed up for a climate pledge," said Smith. That stage of the industry, often called carbon accounting, is also "in this incredibly nascent stage," Smith said, and companies don't have enough workers with the right skillsets to help accelerate their progress, Smith noted. As the industry matures, tools will emerge to help with tracking, but with so much uncertainty today, some companies avoid making climate pledges at all, according to Greg Guyett, co-CEO of global banking and markets at HSBC.

☆ Bill Gates' climate investment firm will put more money into adapting to climate change
▼ + stars: | 2022-10-25 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +7 min

Eric Toone, one half of the investing committee at Breakthrough Energy, speaks to conference attendees at the breakthrough Energy Summit in Seattle on Wednesday October 19, 2022. Photo by Cat Clifford, CNBCSEATTLE — Breakthrough Energy Ventures, the climate technology investment firm started by Microsoft co-founder Bill Gates, will begin to invest more in companies that help people and businesses adapt to the consequences of climate change. "We're left with adaptation," Toone told the audience. But Breakthrough Energy Ventures is most certainly not a philanthropic organization. And in the past, the Gates Foundation has done a lot of work on adaptation," Toone told a group of reporters in a media briefing in Seattle.

☆ Investor Vinod Khosla says focusing on 2030 climate targets is the wrong approach
▼ + stars: | 2022-10-25 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +7 min

Why Khosla thinks short-term goals are a mistakeFocusing on "short term goals will force us to deploy suboptimal technology," Khosla told CNBC. And if it doesn't do that, it's the wrong technology," Khosla told CNBC. Nuclear fusion is one example of the kind of breakthrough technology Khosla considers critical, but which will not be commercialized by 2030. "But I'm not interested in today's geothermal, because it is such a niche — it doesn't scale," Khosla told CNBC. And that's what we need," Khosla said.

☆ A quiet US move in the Mediterranean may help put more pressure on Russia, but not everyone in NATO is happy about it
▼ + stars: | 2022-10-17 | by ( Constantine Atlamazoglou | ) www.businessinsider.com time to read: +8 min

The US lifted its 35-year-old arms embargo on the Republic of Cyprus in September. But the US decision has rankled Turkey, which is at odds with NATO ally Greece over the island. Increased cooperationThe Cypriot Underwater Demolition Team and US Naval Special Warfare Task Unit Europe train in Cyprus in September 2021. "This is a landmark decision, reflecting the burgeoning strategic relationship between the two countries, including in the area of security," Cypriot President Nikos Anastasiades said after the announcement. Cyprus is one of many points of contention between Greece and Turkey, whose worsening relations have worried other NATO members.

REUTERS/Alexander ManzyukNEW YORK, Oct 12 (Reuters) - The United States is already starting to see success with discussions of a Russian oil price cap, as Washington has heard countries are negotiating deals with Russia to buy oil far below the benchmark Brent crude price, a top U.S. Treasury official said Wednesday. A price cap on Russian seaborne oil deliveries is being developed by the United States and other G7 countries to cut Russia's oil revenues, while encouraging Moscow to continue to produce oil. Governments and companies restricted purchases of Russian oil after Moscow invaded Ukraine in on Feb. 24. The price cap on Russian oil was agreed in principle last month by the Group of Seven rich countries. The United States will look at historical data for what Russia has earned in the past for their oil to set the price cap, Adeyemo said.

☆ Bucharest Forum 2020: Cel mai important eveniment geostrategic din regiunea Mării Negre începe astăzi
▼ + stars: | 2020-10-08 | by ( ) tvrmoldova.md time to read: +3 min

Potrivit caleaeuropeana.ro, tema din acest an a Bucharest Forum este centrată în jurul rezilienţei sistemelor financiare, instituţiilor şi sistemelor politice şi a societăţilor în ansamblul lor, în contextul transformărilor profunde generate la nivel global de pandemia COVID-19. Bucharest Forum este un eveniment organizat de Institutul Aspen România şi Biroul din Bucureşti al The German Marshall Fund of the United States, în parteneriat cu Guvernul României. Vorbitor principal în cadrul Bucharest Forum va fi secretarul general adjunct al NATO, Mircea Geoană, fost preşedinte al Institutului Aspen din România şi gazda Bucharest Forum în primele sale şapte ediţii. Prima zi a evenimentului va găzdui de asemenea o discuţie pe tema relaţiilor transatlantice între Amb. Pentru prima dată în acest an, evenimentele sectoriale ale Institutului Aspen România, inclusiv Healthcare Forum, Atlantic – Black Sea Security Forum, Energy Summit şi Governance Innovation Forum, vor avea loc sub umbrela Bucharest Forum 2020.

Persons: Ludovic Orban, Mircea Geoană, Svetlana Tihanovskaia, Adrian Zuckerman, Bogdan Aurescu, Adina, Andreas Schaal, Sven Smit, Jeff, Nicholas Burns, David McAllister, Steve, The Hill Organizations: Bucharest Forum, România, German, United States, NATO, OECD, Microsoft Europe, Aspen Strategy Group, Harvard Kennedy School, Energy Summit Locations: Mării Negre, Europa, Asia, America, Bucharest, Bucureşti, României, România, Belarus, SUA, The, Atlantic, Black

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