Global hydrogen demand could rise by six-fold to 530 Mt in 2050
The time is ripe for the world’s major energy exporters to accelerate the energy transition, and mastering the hydrogen trade could make a difference, says Wood Mackenzie, a Verisk business (Nasdaq:VRSK). The global energy market was worth an eye-watering US$2 trillion in 2020, contributing to more than 9 billion tonnes of carbon dioxide equivalent […]
The second day of the 5th Anniversary Future Investment Initiative (FII), which kicked off in Riyadh on Tuesday with world leaders, global CEOs, investors, and policymakers in attendance, saw another day of lively debate and discussions including the impact of climate change, investing in green initiatives, ESG and sustainable food security and their influence on […]
The Dubai Supreme Council of Energy has launched the Circular Economy Committee, which will bring public and private entities together to boost the circular economy
The Dubai Supreme Council of Energy launched the Circular Economy Committee, which aims to bring private and public entities together to push cleaner energy applications, according to a statement posted by UAE state news agency WAM. “We aim to develop and launch innovative tools and initiatives in collaboration with our strategic partners to promote the […]
Jonathan Fisher QC writes that Petrofac's real punishment has been served in the Middle East, not in London
The recent fine imposed on Petrofac by a criminal court in London for corrupt dealings is intended to send a clear message to the business community. But the real punishment suffered by the company has been inflicted by the impact of its conduct on its commercial dealings. Instead of benignly acquiescing in the receipt of […]
A report from Refinitiv and the Boston Consulting Group asks: As commodities and energy become more transparent and automated, what are the implications of this new digital transformation?
Commodities trading is changing as we know it. Due to the pace at which data is being processed, allowing more accessibility and insight as a result. A report from Refinitiv and the Boston Consulting Group asks: As commodities and energy become more transparent and automated, what are the implications of this new digital transformation? The […]
$1 trillion at risk if companies continue to pursue business-as-usual investment, according to Carbon Tracker Initiative
The world’s largest listed oil and gas companies cannot be considered aligned with global climate targets unless they plan for major production declines, with half facing cuts of 50% or more by the 2030s, warns a new report from the financial think tank Carbon Tracker released today. It reveals that companies are still approving billions […]
Hamdi Ben Salem, general manager for the Middle East and North Africa for HYTORC, talks about the company’s growth plans and strategic partnerships
HYTORC has several new distribution and workshop facilities—how will this impact your business? Five years ago HYTORC has implemented an accelerated growth plan for the Middle East & North Africa region, a vision became a reality that Junkers family ambitioned for a while. HYTORC is leading the bolting industry globally and dominated principally the market […]
Oil prices fell today as the two main grades, Brent an WTI, are being affected in different ways by demand trends and trade data
Brent futures started trading a tad higher this morning as a result of traders seeing a moderate buying opportunity after prices dropped yesterday following the Saudi selling price cuts. Brent also got boosted by some positive news flow on Covid developments and stronger-than-expected Chinese trade data, both of which are interpreted as bullish for economic […]
Industry must collaborate to cut emissions and transform corporate landscape
Oil and gas companies must use the current cash flow windfall opportunity to speed up decarbonisation of their businesses, global natural resources consultancy Wood Mackenzie, a Verisk business (Nasdaq: VRSK) said in a report released today. Stakeholders are demanding greater accountability for carbon emissions along the value chain. Net zero Scope 1 and 2 emissions by 2050 are now the industry […]
Carbon capture moves into the mainstream, but significant hurdles remain
We may only be halfway through 2021, but it is already shaping up to be a breakthrough year for carbon capture and sequestration (CCS) to emerge as a viable tool for upstream companies to decarbonise operations. Although the concept has been around for decades, CCS is moving into the mainstream. All the industry’s largest companies […]
