South African President Cyril Ramaphosa has taken the topic of domestic energy reform to Davos, although domestic criticism persists.
Egypt is planning to reduce the number of spot liquefied natural gas cargoes it offers and to negotiate long-term sales deals with customers instead, because of plummeting prices.
Thomas Leurent, CEO of Akselos, says the future of man and machine, the energy debate and the importance of social purpose were all standout moments for him at the World Economic Forum’s annual meeting.
If there was one message that echoed through the mountains ringing Davos a year ago, it was that the business world could ignore Donald Trump’s tweets.
The newly-elected Canadian Prime Minister Justin Trudeau has called on Hollywood actor Leonardo DiCaprio to tone down his “inflammatory rhetoric” on climate change. The politician made his remarks after the Oscar-nominee hit out at the “corporate greed” od the oil and gas industry.
One thing that oil producers congregating in Davos agree on is that the oil rout can’t go much further. There’s less consensus about when the recovery will arrive. Officials from Kazakhstan and Nigeria to Azerbaijan and Saudi Arabia, speaking at the World Economic Forum, concur that the global glut will begin to dissipate this year as the lowest prices in 12 years force cuts in spending and production.
Less than two months after OPEC nations sparred over oil policy in Vienna, they resumed the debate at Davos.
Maersk has the ability to withstand continued low oil prices, and “would have no problems” if crude remains below $30 a barrel for the rest of the year, according to its chief executive.