Marcel Steinbach

Exclusive -- ExxonMobil has doubled the number of traders working in London to about 300 over the past two years. Most of the growth is from new hires, with only a minimal number moving over from Brussels. Exxon’s trading division is still much smaller than that of BP and Shell, and it remains more conservative than its rivals despite the expansion. But its recruitment drive underscores a desire to optimize the company’s vast network of pipelines, refineries and chemical plants — a priority for CEO Darren Woods. Full story with Mitchell Ferman and Jack Wittels https://lnkd.in/daKVXhs8

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TOTALENERGIES CMD: TotalEnergies is a fascinating company, and today's capital markets day offered us some more interesting insights. CEO Patrick Pouyanné has for years insisted on the need to invest both in #oil and #gas and low-carbon business, in a much more balanced way than Shell and bp, that are now busy catching up. But Total is changing the balance. Oil and gas production is on track to grow by 3% per year by 2030, through a mix of oil, gas and #LNG projects around the world. Total will spend $12-$13 billion per year on its oil and gas business, including 35% on new projects. On the low-carbon power side, there is today a marked slowdown. Spending on the Integrated Power division was lowered to around $4 billion per year between 2026 and 2030, from $5 billion previously. Total is also introducing $7.5 billion of cost savings over the next five years in the face of an expected slowdown. It is also slowing its share buyback programme. But the company's Achilles' heel is debt - the company expects its gearing to rise this year, but if oil prices weaken into the $50s next year, it could find itself with a lot of trouble meeting its targets to slash debt. More to come on Reuters Open Interest

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OIL SUPPLY: TotalEnergies painted a stark outlook for oil markets into the end of the decade on Monday. Supply growth outside of OPEC+ is likely to decline from 2028, while oil consumption will continute to rise. https://lnkd.in/eVTzsVYg

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Abaxx Commodity Futures Exchange and Clearinghouse, a wholly owned subsidiary of Abaxx Technologies (CBOE:ABXX) has seen significant volume growth in its physically deliverable #LNG futures during the past summer months, according to Abaxx Exchange Chief Commercial Officer Joe Raia. #ads https://lnkd.in/dVbutba9

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How will shifting alliances and #OilTrade routes reshape global energy markets? Dave Ernsberger, Co-President, S&P Global Commodity Insights joined Martin Soong on CNBC Squawk Box Asia from APPEC 2025 to discuss the #geopolitical forces influencing global energy flows—from U.S. pressure on India to reduce Russian oil imports, to the ripple effects on Saudi Arabia and American producers. Watch the full video here: https://okt.to/HlGh1O Learn more about APPEC 2025 hosted by S&P Global Commodity Insights—exploring the future of energy through trade, technology, and transition: https://okt.to/qUScNm

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Mitsui O.S.K. Lines, Ltd. continues to play a pivotal role in advancing #LNG solutions that power industries, connect markets, and support a lower-carbon world. This special feature, created in collaboration with Reuters, brings forward how MOL is contributing across the LNG value chain, from production and transport to downstream delivery, driven by innovation and commitment to decarbonization. Watch the full story here: https://lnkd.in/gX5y2v2K #MOL #LNG #EnergyTransition #Decarbonization #Shipping #Reuters #Innovation

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