WorldOil Aramco’s trading CEO sees recovery after ‘big hit’ from China abates “By the end of April, we will not have that fear,” Ibrahim Al-Buainain, chief executive of Aramco Trading, said in an interview in London. “I am confident that the support and measures taken by countries will contain the virus.” BP’s “net zero” climate plan doesn’t quite add up New BP CEO Bernard Looney's new climate plan needs an asterisk after "net zero", as the plan appears to fail to account for reduction of Scope 3 emissions. Saudi energy minister likens impact of coronavirus to a ‘house on fire’ Saudi Arabia gave the clearest signal yet of its concerns about the impact of the coronavirus on oil markets, comparing the situation to a blaze that needs the fire brigade. Climate protestors target world’s biggest independent oil traders Scores of climate change protesters from a Swiss branch of the Extinction Rebellion campaign group staged protests against commodity houses in Geneva, occupying the office of Vitol Group, the biggest independent oil trader. Chevron Technology Ventures invests in modular CO₂ capture system Carbon Clean Solutions Limited has completed an equity investment of $16 million from three global investors, WAVE Equity Partners, Chevron Technology Ventures, and Marubeni Corporation. Global oil demand expected to drop for the first time in a decade Global oil demand will drop this quarter for the first time in over a decade as the coronavirus batters China’s economy, the International Energy Agency said. New GOP climate plan focuses on innovation, conservation House Republicans will begin revealing on Wednesday their plan to combat climate change that comports with conservative principles of less regulation and increased domestic energy development. BP’s new CEO plans for net-zero carbon emissions by 2050 London-based BP became the latest fossil fuel giant to set out an ambitious, yet rather distant, target for curbing emissions of planet-warming gases. Traders consider oil storage at sea as virus slows demand Three of the world’s largest oil traders are seeking to store crude on tankers at sea as the industry tries to deal with a glut that’s emerged since the outbreak of the coronavirus in China. Total profit beats estimates on rising output Total SA’s fourth-quarter profit beat even the highest estimate as record production offset the impact of slumping natural gas prices and strikes at its French oil refineries.