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Sarah YoungLaurence Frost 4 minute read A worker fills an Airbus jet with aviation fuel at Fuhlsbuettel airport in Hamburg, March 14, 2012. REUTERS/Fabian Bimmer The increasingly effective green backlash against oil majors by activists and shareholders is a welcome development for the aviation industry as it prepares to raise its own environmental goals, the head of global airline body IATA said on Friday. Willie Walsh, director general of the International Air Transport Association, said that challenges of the kind encountered by Exxon (XOM.N), Chevron (CVX.N) and Shell (RDSa.L) this week could boost investment in the lower-emission fuels so desperately needed by airlines. read more ....
Laura Sanicola 3 minute read Billionaire activist-investor Carl Icahn gives an interview on FOX Business Network s Neil Cavuto show in New York February 11, 2014. REUTERS/Brendan McDermid U.S. billionaire Carl Icahn s CVR Energy Inc (CVI.N) is exploring whether it can produce sustainable aviation fuel at its refineries, according to three sources familiar with the matter. Renewable fuels account for just a fraction of the fuel for road transportation, but refiners are trying to source different types of feedstock to reduce their greenhouse gas emissions. Refiners, including Valero (VLO.N) and Phillips 66 (PSX.N), are exploring ways to produce greener aviation fuel from feedstocks such as grease, animal fats and plant oils, to decarbonize and meet rising demand. ....
Essar Oil UK has obtained more than $850 million in financing to replace a former credit facility and access additional capital, it said on Friday. ....
EnergyGlobal oil demand has risen to 95 mln bpd -Al Jaber Reuters 1 minute read Pump jacks operate at sunset in an oil field in Midland, Texas U.S. August 22, 2018. REUTERS/Nick Oxford/File Photo The global oil market is rebalancing, and oil demand has risen to 95 million barrels per day, Sultan Ahmed Al Jaber, chief executive of the Abu Dhabi National Oil Company, said on Thursday. The longer-term forecast has demand rising to 106 million bpd by 2030, Al Jaber said during the Columbia Global Energy Summit. The oil and gas industry has reduced investments over the past five years, as companies prioritized capital discipline and as investors grew more motivated by environmental concerns, he said. ....