The world’s largest oil traders are pouring hundreds of millions of dollars into climate-friendly projects — including wind farms, cow manure plants and blue hydrogen — as they seek to match the profits they make from trading oil.The energy industry as a whole faces an existential threat from the shift to a lower carbon future and faces growing pressure from investors, governments, activists and financiers to find a sustainable business model.For oil trading houses, the challenge is more acute, as their profit margins have already shrunk due to increased competition, regulatory scrutiny and growing industry transparency.Trading firms such as Vitol …read more
Source:: Gulf times
