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Data and analytics company GlobalData has identified several themes that are set to have the most influence on the oil and gas sector this year.
Data and analytics company GlobalData has identified several themes that are “set to have the most influence” on the oil and gas sector this year.
According to the company, Covid-19 and sustainability will continue to heavily impact the oil and gas industry. Other key themes that will shape the sector in 2021 include topics such as renewable energy, hydrogen, electric vehicles, energy storage, liquefied natural gas, and gas flaring, as well as others, the company outlined.
The result is a boon to the company amid the energy transition.
(Bloomberg) Royal Dutch Shell Plc disclosed the profitability of its sprawling and secretive oil-trading unit for the first time, saying it almost doubled to $2.6 billion last year.
The scale of that result shows the importance of the trading division to the oil major in a year when weak demand and prices hit other parts of the business. Shell took advantage of wild price swings and a market situation that allowed it to make money by storing oil to sell later for a profit.
The company’s earnings from oil trading in 2020 beat the highest ever net income at Vitol Group, the world’s largest independent trading house, which made a record $2.3 billion in 2019. Vitol has yet to disclose 2020 results.