Vitol, the world's largest energy trader, reported a net profit between $8 billion and $8.5 billion for 2024. While this marks a sharp downturn compared to the record-breaking results of 2022 and 2023, the company remains ahead of its competitors. This level of profitability reflects its strategic approach to operations and resilience, even amid lower market volatility.  

Lithium, often referred to as "white gold," has become an essential component in the modern energy transition, specifically in the manufacturing of electric vehicle (EV) batteries. With the surging global demand for EVs, countries are actively pursuing ways to secure a steady supply of this critical raw material. India, aiming to establish itself as a leader in the EV revolution, is taking a significant step by negotiating a stake in Chilean mining company SQM’s lithium projects in Australia.  

BP is reshaping its investment portfolio by offloading select assets in favor of ramping up investments in oil and gas. Recently, the company announced the sale of its stake in the entity that invested in the TANAP gas pipeline—which connects Azerbaijan and Turkey—for 1 billion dollars to Apollo Global Management. This move reflects BP’s strategic asset optimization in the context of the global energy transition and its efforts to streamline its portfolio.

Swedish engineering powerhouse Alfa Laval, well-known for its groundbreaking work in heat transfer, separation, and liquid handling technologies, has announced a transformative acquisition. The company plans to acquire the French cryogenic specialist Fives Cryogenics for an approximate sum of $868 million. This strategic move highlights Alfa Laval's commitment to advancing sustainable energy solutions and expanding its foothold in the crucial realm of cryogenic technologies.

According to the recent BloombergNEF report released on Thursday, global investments in the low-carbon energy transition exceeded the $2 trillion mark for the first time last year. This milestone reflects the commitment of countries worldwide to achieving the climate targets set out in the Paris Agreement. However, experts continue to assert that current investment rates are still not sufficient to tackle the global climate change challenge.