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Jet Zero Australia Pty. Ltd. (Jet Zero) has moved into the front-end engineering and design (FEED) phase for its planned Project Ulysses, a grassroots development involving construction of a renewable fuels plant in the Townsville State Development Area of North Queensland, Australia (OGJ Online, Dec. 23, 2024). Following preliminary agreements in December 2024, Jet Zero in April finalized award of a contract to Technip Energies (T.EN) for delivery of FEED services on the project that, if completed, will be equipped to produce 102 million l./year of sustainable aviation fuel (SAF) and 11 million l./year of renewable diesel from a feedstock…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.A quarter of BP investors have voted against the re-election of outgoing chair Helge Lund in the biggest protest against the head of a FTSE 100 board for five years. Preliminary results from the energy company’s annual general meeting on Thursday showed that 24.3 per cent of BP’s shareholders had voted against Lund, who said this month that he would step down “most likely during 2026”. Murray Auchincloss, BP chief executive, was re-elected with more than 97 per cent of the vote, while…

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldChina could replace the US as the world’s dominant energy power as Donald Trump’s trade war rattles American oil producers and Beijing extends its cleantech lead, analysts have warned.The US president announced an aggressive new tariff regime earlier this month that sent oil prices sharply lower, and has also moved to kill the previous Biden administration’s drive to build a domestic cleantech industry to compete with China.The tariffs could make it harder for US oil producers to compete in its…

This article is an on-site version of our Energy Source newsletter. Premium subscribers can sign up here to get the newsletter delivered every Tuesday and Thursday. Standard subscribers can upgrade to Premium here, or explore all FT newslettersWelcome to Energy Source, coming to you from New York. Federal Reserve chair Jay Powell said Donald Trump’s tariffs may cause higher inflation and slower growth, complicating the US central bank’s endeavour to tame inflation with tight monetary policy.Fears over higher inflation and slower growth in the world’s biggest economy have caused oil markets to remain volatile. Goldman Sachs, HSBC and JPMorgan have all trimmed…

ISTANBUL (AP) — Turkey’s central bank raised its key interest rate by 3.5 percentage points on Thursday, halting a three‑month easing streak as it confronts stubborn inflation, financial turbulence following the arrest of Istanbul’s mayor and aftershocks of global tariffs.The Monetary Policy Committee lifted the benchmark one‑week repo rate to 46% from 42.5% and pushed the overnight lending and borrowing rates to 49% and 44.5%, respectively.The committee said the “tight monetary policy stance will be maintained until a permanent decrease in inflation and price stability are achieved.”“The main trend in inflation declined in March,” the committee noted, but warned that…

Oil prices have been on the mend this week after taking a dive following President Trump’s global tariff offensive launch. Yet they still have a long way to go to return to where they were just four months ago—and many oil-exporting countries can’t wait for this to happen. The question is, will it?For now, the situation does not look good for oil producers. The rebound in prices this week came as a result of indications that Trump was willing to consider some tariff exemptions for things like smartphones and semiconductors. It didn’t last, however, because the latest from the tariff…

The idea of peak oil is familiar to most readers.It refers to the point at which global petroleum production reaches its maximum point and begins an irreversible decline.The concept was first introduced by M. King Hubbert in the 1950s. His theory proposed that oil production would follow a bell-shaped curve, with a peak representing the point at which half of the total recoverable reserves had been extracted. This prediction has been largely accurate, as we have witnessed a steady increase in global oil production followed by signs of plateauing and even decline in recent years.The implications of peak oil are far-reaching.…

Since Donald Trump’s return to the White House, the UK has found itself navigating a visibly fractured transatlantic alliance. Although the temperature of geopolitics may be increasingly concerning as the US and EU move in seemingly opposite directions on trade and security, the underlying power dynamic remains familiar to Britain’s policymakers. Over the last century, the UK has grown used to navigating these more powerful regional actors and its grand strategy as a middle power has been to avoid total dependence on either the EU or the US.  As an island nation-state, the UK has always been economically dependent on…

U.S. crude oil production is set to peak at around 14 million barrels per day (bpd) in 2027, according to the Annual Energy Outlook 2025 of the U.S. Energy Information Administration (EIA).U.S. oil production is set to remain around the 14 million bpd level by 2030 and in the early 2030s, after which it is expected to decline faster through 2050 as the shale boom fades.Shale-only oil production in the United States will also peak in 2027, the EIA’s outlook says. In two years, shale output would hit its record of 10 million bpd, up from 9.7 million bpd expected…

By Julianne Geiger – Apr 16, 2025, 9:38 AM CDT Crude oil inventories in the United States saw an increase of 500,000 barrels during the week ending April 11, according to new data from the U.S. Energy Information Administration released on Wednesday.Crude oil prices were trading up in a rare show of strength prior to the crude data release by the U.S. Energy Information Administration after a sharp dip over the last couple of weeks in the wake of the tariff war between the United States and China. On Tuesday, the American Petroleum Institute (API) reported a build of 2.4…