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Crude oil under transition | Hellenic Shipping News Worldwide

Crude oil under transition
THE transition from oil is underway. All stakeholders from the Organisation of Petroleum Exporting Countries (Opec) and Russia to the oil majors are all beginning to appreciate, realise and react to this changing global energy kaleidoscope.
Russia has been denying the reality. Now this is changing.
“The peak of consumption may have already passed,” said Deputy Russian Finance Minister Vladimir Kolychev in an interview in Moscow. “The risk is rising in the longer term,” that hydrocarbon revenues could come in below the current outlook, Bloomberg reported him saying.
Until recently, Russia appeared hesitant in conceding it. Russian President Vladimir Putin said in October that growing demand from Asia will support the country’s energy exports in the coming decades. In March, the Russian Economic Ministry forecasted oil consumption would peak around 2045. The pandemic has changed the perspective altogether. ....

France General , United Kingdom , Jerome Powell , Tom Randall , Hayley Warren , Abu Dhabi , Vladimir Kolychev , Vladimir Putin , Fatih Birol , Wood Mackenzie , Total Sa , World Energy Outlook , Russian Economic Ministry , Peak Oil , Organisation Of Petroleum Exporting Countries Opec , Royal Dutch Shell , International Energy Agency , Rystad Energy , Russian Finance Ministry , Petroleum Exporting Countries , Deputy Russian Finance Minister Vladimir Kolychev , President Vladimir Putin , Energy Outlook , Director Fatih Birol , Reserve Chairman Jerome Powell , Dutch Shell ,

Crude oil under transition - Newspaper

The transition from oil is underway. File photo
THE transition from oil is underway. All stakeholders from the Organisation of Petroleum Exporting Countries (Opec) and Russia to the oil majors are all beginning to appreciate, realise and react to this changing global energy kaleidoscope.
Russia has been denying the reality. Now this is changing.
“The peak of consumption may have already passed,” said Deputy Russian Finance Minister Vladimir Kolychev in an interview in Moscow. “The risk is rising in the longer term,” that hydrocarbon revenues could come in below the current outlook,
Bloomberg reported him saying.
Until recently, Russia appeared hesitant in conceding it. Russian President Vladimir Putin said in October that growing demand from Asia will support the country’s energy exports in the coming decades. In March, the Russian Economic Ministry forecasted oil consumption would peak around 2045. The pandemic has changed the perspective alto ....

France General , United Kingdom , Jerome Powell , Tom Randall , Hayley Warren , Abu Dhabi , Vladimir Kolychev , Vladimir Putin , Fatih Birol , Wood Mackenzie , Total Sa , World Energy Outlook , Russian Economic Ministry , Peak Oil , Organisation Of Petroleum Exporting Countries Opec , Royal Dutch Shell , International Energy Agency , Rystad Energy , Russian Finance Ministry , Petroleum Exporting Countries , Deputy Russian Finance Minister Vladimir Kolychev , President Vladimir Putin , Energy Outlook , Director Fatih Birol , Reserve Chairman Jerome Powell , Dutch Shell ,