Can big oil escape the ‘valley of death’?
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 11 December 2024
⏱️ 12 minutes
🧾️ Download transcript
Summary
Qatar’s sovereign wealth fund prepares for a petrodollar windfall, while oil majors scale back their $18bn power generation push. Israeli Prime Minister Benjamin Netanyahu begins testifying in a corruption trial, and public pension schemes and sovereign wealth funds plan to pour more money into private markets over the coming year.
Mentioned in this podcast:
Qatar’s $500bn wealth fund targets bigger deals as LNG windfall looms
BP and Shell rein in electricity ambitions to escape ‘valley of death’
Benjamin Netanyahu arrives in court to testify in corruption trial
Public pension plans and wealth funds to invest more in private markets
The FT News Briefing is produced by Niamh Rowe, Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Joseph Salcedo. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The latest episode of the Next Five podcast is out now and it's all about our energy future. |
| 0:05.4 | I speak with Torgram-Righton, CFO at Equino. |
| 0:08.4 | There's a lot to be done to successfully deliver on ambitions. |
| 0:11.4 | Rebecca Williams, Deputy CEO at Gweck, the Global Wind Energy Council. |
| 0:15.5 | We had the second best year ever when it came to offshore wind. |
| 0:18.3 | And Irina Kostova, research fellow at SEPs, the Centre for European Policy Studies. |
| 0:23.1 | The key pain point will be investment on certainty. |
| 0:26.6 | You can listen to the full episode of the next five wherever you get your podcasts. |
| 0:33.9 | Good morning from the Financial Times. |
| 0:36.4 | Today is Wednesday, December 11th, and this is your FT News briefing. |
| 0:41.6 | Qatar is preparing to splash some serious cash overseas. |
| 0:46.7 | And two oil majors are trying to dump some of their clean energy plans. |
| 0:51.9 | Plus, public pensions really like what they're seeing in private credit. |
| 0:57.2 | I'm Sonia Hudson, and here's the news you need to start your day. |
| 1:09.4 | Qatar's $500 billion wealth fund is gearing up for some aggressive investing. |
| 1:15.6 | The Gulf State has been increasing liquefied natural gas production, and revenues from that are projected to ultimately double the size of the Qatar Investment Authority. |
| 1:26.6 | As for where the QIA will park all this cash, |
| 1:30.2 | it's looking at the U.S., the UK, and Asia. And it wants to focus on deals in areas like tech, |
| 1:37.1 | AI, and healthcare. The fund has already made splashy investments in the department store Harrods |
| 1:43.8 | and the Heathrow Airport in London. |
| 1:52.3 | BP and Shell are scaling back their ambitions to become big players in electricity. |
| 1:59.0 | Both oil majors invested billions of dollars over the past few years |
... |
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