The energy industry is gathering this week in Houston, Texas, for the annual CERAWeek by S&P Global conference. The confab’s 8,000 attendees are there to hear about the latest in next-wave emissions-reduction technologies as much as to listen to speeches from titans of oil and gas.The dual message is both an attempt to get the world to acknowledge its persistent reliance on reasonably priced oil and gas and a PR pitch that the industry is doing its part to help fight climate change.
Pierce Norton, CEO of pipeline operator ONEOK, said that demand for energy is only going to grow — a sentiment echoed throughout the conference. He also highlighted that demand is increasing even more rapidly because of the computing power needed for artificial intelligence and painted a picture of “energy addition” rather than “energy transition.”at CERAWeek.
Exxon Mobil Chairman & CEO Darren Woods speaks during the CERAWeek oil summit in Houston, Texas, on March 18, 2024. The pushback against the energy transition from the industry gained steam late last year, when ExxonMobil CEO Darren Woods emphasized the global need for oil and gas at the United Nations-sponsored climate conference COP28 in Dubai. strong presence in the Permian Basin and systematic investment to expand operations will provide support amid a competitive industry.
Pushing for consistency in US policy and advocating for the benefits of carbon capture, ExxonMobil CEO Darren Woods sees Big Oil as part of the solution in mitigating the impacts of climate change. -- Guan Chong Bhd., one of the world’s biggest cocoa processors, is scouting for beans worldwide as bad weather and disease pummeling crops in top West African growers send prices to a record.
Fetch, an app that lets consumers scan receipts to earn rewards, has raised $50 million in debt from funds managed by Morgan Stanley Private Credit, the companies told Reuters. This funding came after Fetch turned profitable for the first time in the fourth quarter of 2023. It shows how private credit, which has seen a boom on Wall Street, become more accessible to late-stage venture capital-backed startups as they turn their focus to profitability.U.S.
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