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Shift in seaborne trade suggests Kremlin will benefit from rising prices despite west’s $60-a-barrel cap
Bloc will have a ‘need for American energy’ says Ditte Juul Jørgensen
Events in New York and Calgary this week have damped hopes of agreement at COP28
Oneok’s $19bn takeover of Magellan reflects shifting views of future for gas vs oil
Ticket prices have already soared as airlines make the most of demand for travel
Curbs raise concerns Kremlin is ‘repeating playbook’ by again weaponising energy supplies
Speculators have increased their long positions as crude has climbed almost 30% since June
Onetime supporters of ex-president are hunting for an alternative to roll back Biden’s green agenda
Production cuts have lifted prices close to last year’s $100 per barrel average as the world produces less than it consumes
Production cuts by Russia and Saudi Arabia have sparked tensions with western economies
Energy company overhauls top management following exit of Bernard Looney
Prince Abdulaziz bin Salman defends lower output as crude nears $95 a barrel
Civil action seeks damages to help mitigate costs of global warming caused by fossil fuels
Chief executive’s abrupt exit has left oil major facing questions over its culture
Saudi Arabia and Russia have curtailed supplies in the face of record global demand
Chief went further than competitors in oil and gas group’s commitments to invest in renewable energy
Also in today’s newsletter, the projected cost of hitting net zero
US court win isn’t the end of the saga for litigation funder and Latin American country in dispute over YPF nationalisation
The oil major needs another long-serving boss to ensure it stays on track
Irish executive has led British oil major since 2020
Governments need to step up efforts to hit the milestones the watchdog is proposing
Also in today’s newsletter, Norway’s oil fund becomes top UBS shareholder and US Republican megadonors seek anti-Trump champion
But the decline in oil, gas and coal will not be steep enough to limit global warming to 1.5C
Global demand for oil, natural gas and coal expected to peak before end of 2030
News of strikes at liquefied natural gas facilities stoke fears of global supply disruption
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