A 'crude' view from the Sea of Marmara's shoreline

The Oilholic finds himself wrapping up a trip to Istanbul, Türkiye, for the Black Sea and East Med Refining & Trading Conference and Executive Retreat. 

Early starts over the past few days here have brought with them a most spectacular view of the city's Tahiri Atakoy Kulesi monument, the Baruthane Millet park, and, of course, tankers and bulk carriers in the Sea of Marmara.

Many of these are anchored waiting to cross the Bosphorus, a narrow natural strait and an internationally significant waterway straddled by the sprawling city of Istanbul. The Bosphorus connects the Sea of Marmara to the Black Sea and forms one of the continental boundaries between Asia and Europe. 

It is a key crude maritime artery for the oil and gas industry. The location makes for a fitting place to discuss the direction of travel of the currently rocky oil prices, more so at the end of the week in which OPEC+ decided to hold fire on production and Russian shadow fleet tankers were attacked in the Black Sea! Despite our fraught world and heightened levels of geopolitical tension, yours truly told the event there's little to be bullish about the oil price. 

Brent is struggling to hold the floor at $60 per barrel. The Oilholic believes that floor will likely be breached in Q1 and Q2 of next year. 

Forget $60, this blogger believes even $50 levels may well be challenged. That's because there is a lot of crude out in the market, and a supply surplus, especially of light sweet crude beckons. 

Regardless of what OPEC+ does (or doesn't) non-OPEC oil production growth alone can meet demand growth levels forecast for 2026. 

And those hedged US shale barrels are not going away anytime soon, to be read as at least Q4 2026. Additionally, near-term crude demand remains less than certain as has been variously documented. Oil remains as much a story of demand as it is of supply. 

Let's see where this goes. But to underscore the current market dynamic, none of the (physical) traders the Oilholic met in Istanbul reported any sort of difficulty in securing any sort of crude grade at competitive prices, per their respective solver models. 

Moving on from crude pricing dynamics, yours truly discussed the event's core subject of refining. More specifically, the ongoing painful demise of refining in Europe in general, and Northern Europe in particular, and its rise in the Eastern Med, Middle East and Asia. 

This trend has become entrenched in the global refining and petrochemical complex. But first the figures. 

Various data aggregators, market commentators and forecasters have examined the state of the world's refining complex, and what it is going to be like in 10 years time. 

Between them, the likes of Kpler, Wood Mackenzie, S&P Global Platts, and more, have looked at 500 global refineries that they think might be at risk of closure within 10 years. 

Some of the most obvious risk factors include demand shifts due to electric mobility, pressures on net cash margins, policy changes, input and carbon compliance costs and competition. Of these 500, a fifth, or around a 100, were projected to be at risk closure with more than half of those in Europe. Such projections make Europe the continent where the refining and petrochemicals sector is quite simply being decimated. 

But as that happens, the refining complex from Turkey eastward appears to be coping well without having to contend with the just the sort of high energy and net zero compliance costs we see in Europe. 

All of this is triggering significant, unmistakable shifts across the liquid bulk supply chain. To discuss this and more, yours truly was joined on a panel by Rosemary Griffin, OPEC+ Lead Reporter, S&P Global Platts, Sevil Arif, Senior Marketing Specialist at SOCAR Türkiye, Elif Binici Ersen, Energy Analyst at Kpler, and Sergey Ivanov, Executive Director at Marine Bunker Exchange.  

In an engaging discussion, the panellists touched on both crude prices in 2026 as well as the operating climate in the refining sector. 

There was consensus on the panel that world is likely looking at testing the $60 per barrel floor fairly early in 2026, with some strength returning to the market later in the year. 

On the refining side, we discussed the opportunities in the Eastern Mediterranean and further eastward, and challenges in Europe. 

Much of dialogue acknowledged that Northern Europe’s refining sector is now at a critical juncture, faced with declining margins and policy pressures to adapt to rapidly evolving continental compliance problems. And, quite frankly, it doesn't look too good, just as competition from Asia and the Middle East rises. 

Well, that's all from Istanbul folks. My thanks and congratulations to Confidence Information Services - the hosts of this wonderful event. More musings to follow soon. Keep reading, keep it here, keep it 'crude'! 

To follow The Oilholic on Twitter click here.

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To follow The Oilholic on Energy Connects click here.

To email: journalist_gsharma@yahoo.co.uk  

© Gaurav Sharma 2025. Photos I & II: Tanker and bulk carriers in the Sea of Marmara © Gaurav Sharma, November 2025. Photos III & IV: Gaurav Sharma at speaks at the Black Sea and Eastern Mediterranean Refining & Trading Conference and Executive Retreat, Istanbul, Türkiye, on November 27, 2025 © Confidence Information Services, November 2025. 

Speaking at Türkiye - Black Sea & East Med Refining & Trading conference

Delighted to announce that yours truly will be speaking at the upcoming Türkiye – Black Sea and East Med Refining & Trading conference and executive retreat. The event - being held November 27-28, 2025 in Istanbul - will touch upon regional market dynamics, pricing, and logistics.

More details on the event and its agenda are available here.

The Oilholic looks forward to the deliberations, meeting industry peers, regional corporate heads, decisionmakers and friends from the energy community. Join, if you can, for some fantastic industry exchanges and networking in Istanbul.

Keep reading, keep it here, keep it 'crude'!

To follow The Oilholic on Twitter click here.

To follow The Oilholic on Forbes click here.

To follow The Oilholic on Energy Connects click here.

To email: journalist_gsharma@yahoo.co.uk  

© Gaurav Sharma 2025. Photo © Confidence Information Services Ltd, November 2025.

Leadership Conversations with Emerson series

The Oilholic is delighted to introduce Emerson’s new Leadership Conversations series that yours truly has been privileged to host on the company's behalf. The series brings together leading voices from Emerson and its affiliate brands such as Aspen Technology, National Instruments and more, to the fore on digitization, electrification and automation of the world's energy, industrial and manufacturing complex.

As AI, IIoT, BigData and robotics reshape how we do things, this series explores the approaching horizon from the perspective of one of the world's leading technology, software and engineering powerhouses, and its global customers and partners. The initial batch of videos are available here.

In the very first episode, Chief Operating Officer Ram Krishnan discusses Emerson’s new software-defined, OT-ready enterprise operations platform. Watch the full interview here.

And do watch this space for more to come, as Team Emerson and yours truly bring further industry insights and leadership conversations your way. More musings to follow soon, but its goodbye for now. Keep reading, keep it here, keep it 'crude'!

To follow The Oilholic on Twitter click here.

To follow The Oilholic on Forbes click here.

To follow The Oilholic on Energy Connects click here.

To email: journalist_gsharma@yahoo.co.uk  

© Gaurav Sharma 2025. Photo: Leadership Conversations with Emerson © Emerson, November 2025.

Media missives from ADIPEC 2025

ADIPEC 2025 drew to a close on November 6 and the Oilholic had an engaging week out in Abu Dhabi. Yours truly hosted four pivotal industry panel sessions at the event on subjects ranging from hydrogen to downstream decarbonisation.

This blogger also hit the airwaves to discuss the wider energy market, quarterly results of BP and Aramco, oil supply and demand scenarios for 2026, investment by the energy sector in automation and AI, and some of the soundbites coming out of this year's ADIPEC. 

These included broadcasting calls with the BBC, France 24, and more, with the Oilholic's week also peppered with plenty of missives via the keyboard for Forbes, and of course this blog.

This year, yours truly also partnered with Schneider Electric for a global research project on the adoption of automation in the energy sector, the first phase of which - on the Middle East - was released at the event. Further details are here. 

All blog entries for ADIPEC 2025 may be found here. And here are selected Forbes copies in chronological order based on soundbites and insights from just before, during, and immediately after the event: 

• AI Is Reshaping How Industries Run, Compete, And Grow, October 26, 2025
• Energy CEOs Warn More Investment Is Needed As Demand Continues To Rise, November 3, 2025
• Big Oil Earnings Season Marks A Return To Basics With Lower Profits, November 10, 2025
• Big Oil Is Pairing Up With Big Tech For An Opportunity Worth Billions, November 11, 2025

That's a wrap for this year's ADIPEC. Keep reading, keep it here, keep it 'crude'! 

To follow The Oilholic on Twitter click here.

To follow The Oilholic on Forbes click here.

To follow The Oilholic on Energy Connects click here.

To email: journalist_gsharma@yahoo.co.uk  

© Gaurav Sharma 2025. Photo: Gaurav Sharma at ADIPEC 2025 studio in Abu Dhabi, UAE on November 4, 2025 © dmgevents / APCO Worldwide. 

ADIPEC Days III & IV: Energy. Intelligence. Impact.

As ADIPEC 2025 entered its home stretch, the broader conference-wide discourse continued to both amplify as well as offer a diverse range of views on the event's tagline of 'Energy. Intelligence. Impact.'

Several discussion slants across the event bolstered the belief that the planet's energy future will be shaped not by any one solution or sector segment, but by collaboration across industries, generations and geographies. A true energy mix if you wish. 

To this effect, ADIPEC saw ministers, CEOs, ultra high net worth investors, innovators and leading academics call for strong partnerships between public and private sectors, aligning targeted investment with innovation, and accelerate the technologies needed to deliver affordable, sustainable and secure energy for all.

Afterall as many leaders put it - energy equals jobs, growth and prosperity - which is why getting it right in the transition era matters. The Oilholic entered the homestretch of ADIPEC 2025 with three panel sessions at a cantor. On Wednesday, yours truly moderated a session titled 'Driving hydrogen forward: technology, standards and a level playing field.' 

Panellists included Nobuo Tanaka, CEO, Tanaka Global & Executive Director Emeritus, International Energy Agency (IEA), Raphaël Tilot, CEO, John Cockerill Hydrogen, Koji Yamamoto, CTO, JOGMEC, Michèle Azalbert, Chief Hydrogen Officer, Gentari and Lionel Sinaï-Sinelnikoff, Strategic Advisor, Beyond Aero. 

We all know that hydrogen’s success as a global energy carrier will depend not only on technological breakthroughs but also on the creation of a stable, transparent, and equitable framework that allows those technologies to thrive. 

The panellists discussed establishing internationally recognised definitions of "clean" hydrogen, common life-cycle carbon accounting methodologies, and compatible certification schemes deemed vital to building investor confidence and facilitating cross-border trade. 

They also explored how learnings from the LNG trade can potentially help unlock hydrogen markets, enable global trade, and accelerate the path to affordability and sustainability. 

Next up for this blogger on Wednesday was a panel on the 'The future of refining: decarbonisation, demand disruption, and strategic direction.'

The panellists included Sultan Albigishi , CEO, ADNOC Refining, Arvinder Singh Sahney, Chairman, Indian Oil Corporation, Dr. Mumuni Dagazau, EVP Downstream, NNPC Limited, Anibor Kragha, Executive Secretary, African Refiners and Distributors Association (ARDA) and Sylvain Cabalery, SVP Sustainable Fuels, Chemicals and Circularity, Technip Energies. 

In a lively discussion, the panellists offered their perspectives on how refining strategies are evolving to balance decarbonisation targets with structural market pressures, including overcapacity, shifting demand, and long-term competitiveness.

And on Thursday - ADIPEC's final day - the Oilholic turned his attention to financial innovation, chairing an open forum discussion with full audience participation, on 'Building the future energy system through infrastructure investment.' 

The speakers, who also directly engaged with members of the audience included Rajarshi Gupta, MD & CEO, ONGC Videsh Ltd and Jamil Asfour, Head of the Energy & Utilities Sector, Contango.  

Both offered their takes on innovative financing models such as infrastructure funds and public-private partnerships that address the complexities associated with critical projects will be crucial to unlocking the necessary investment to build the energy systems of the future. 

The audience members and speakers also discussed how investors, policymakers, energy executives and technology developers are planning to finance the infrastructure required for energy security and sustainability to thrive together, and what the future holds.

And with that ended the Oilholic's engagements this year ADIPEC. As always, it has been a memorable and insightful time our here in Abu Dhabi. But alas that's a wrap folks. More musings to follow real soon. Keep reading, keep it here, keep it 'crude'!

To follow The Oilholic on Twitter click here.

To follow The Oilholic on Forbes click here.

To follow The Oilholic on Energy Connects click here.

To email: journalist_gsharma@yahoo.co.uk  

© Gaurav Sharma 2025. Photo I: Energy Analyst Gaurav Sharma at ADIPEC 2025 in Abu Dhabi, UAE. Photo II: Energy Analyst Gaurav Sharma moderates ADIPEC 2025 panel on the future of refining: decarbonisation, demand disruption, and strategic direction. Photo III: Visitors to ADIPEC 2025 in Abu Dhabi, UAE. Photo I: © Gaurav Sharma 2025. Photos II & III © ADIPEC / dmgevents.

ADIPEC Days I & II: Upscaling energy AI & automation

The first two days of ADIPEC 2025 have flown by and energy technology is all the rage here in Abu Dhabi, UAE. 

Accompanied, of course, by a rallying cry to invest more as the world's energy needs rise. 

Dr Sultan Ahmed Al Jaber, Group CEO of ADNOC - the host of the mega-event - told attendees that a "balanced and inclusive approach" was needed to meet rising global energy demand. 

Here is the Oilholic's full report for Forbes following the event's opening ceremony on Monday. Al Jaber also called for capital investment and infrastructure development to optimise energy, advance technology to enable progress, and the embrace of artificial intelligence. 

And by the look of things at ADIPEC 2025, the energy industry isn't waiting for an invitation. In whichever direction you turn at ADIPEC's venue ADNEC, you'll see robots roaming, predictive maintenance solutions demos, AR/VR equipment for health and safety training, cloud computing offerings, and so they go.

What's more, even the exhibition space allocated to the event's AI zone went up this year to 3,150 sq. m. from last year’s 2,275 sq. m. It offers a sense of the profound changes that are afoot in the industry and its direction of travel. 

Speaking of which, over the last few months yours truly has been privileged to provide insights for Schneider Electric's energy automation report. 

It will eventually take the shape of a global piece of research on the progression of automation in the energy sector. 

The report's first section - on the Middle East - was published on Tuesday morning at ADIPEC. The Oilholic was delighted to join Devan Pillay, President Heavy Industries at Schneider Electric for the launch. 

The reporting team's fascinating findings from the Middle East signal a profound shift - autonomous technologies that boost efficiency and reduce emissions are now a strategic priority for one of the world's most prominent energy hubs and a bid for operational excellence by GCC energy majors. 

Nearly 80% of Middle Eastern energy sector leaders reported advanced operational readiness, highlighting the region’s strong ambition toward autonomous operations. And they're just getting started. More on stage I of the report's findings here. 

As Pillay noted: "Autonomous operations are increasingly seen as a strategic enabler across industries, driving gains in efficiency, scalability, and resilience. 

"In the energy sector, where safety, reliability, and sustainability are critical, autonomous systems can monitor and respond in real time, reduce manual intervention in hazardous environments, and support smarter, data-driven decision-making. Crucially, they also support both onshore and remote operations, reducing offsite travel and improving work-life balance."

Yours truly also hit the airwaves to discuss the financials of Aramco and BP both of whom published their quarterlies on Tuesday too, starting with the BBC's morning business bulletins, with two market commentary hits in quick succession on the same channel. 

The Oilholic noted that while both companies managed to beat earnings expectations, unsurprisingly their returns were nothing like we saw in the wake of Russia-Ukraine war. The low oil price environment for much of the previous quarter also dented earnings. 

Aramco kept its bumper base dividend (of $21.1 billion) while BP maintained its share buyback at $750 million. In the case of the latter, whisper gently, but perhaps a turnaround may be on the horizon. 

Later on Tuesday, yours truly also moderated a panel titled 'Future-proofing feedstock strategies: from sourcing advantage to system adaptability.'

The panellists included Maurits van Tol, Chief Executive, Catalyst Technologies, Johnson Matthey, Marc-Xavier Joubert, Corporate Strategy Officer, SUEZ, and S. Bharathan, Member of the Board of Directors, Refineries, Hindustan Petroleum Corporation Limited. We discussed how downstream players are reshaping sourcing models, processing capabilities and risk strategies to unlock value across an increasingly complex feedstock landscape.

The panellists offered a steer on how forward-thinking refineries and petrochemical plants should attempt to align their sourcing strategy with infrastructure adaptability, harnessing technological leaps and innovative solutions to unlock both commercial advantage and long-term sustainability. 

And the Oilholic rounded up an interesting first two days at ADIPEC over a round of drinks with none other than the inimitable Nobuo Tanaka, Executive Director Emeritus of the International Energy Agency (IEA). 

It was a privilege to unwind after a hectic but rewarding first two days at ADIPEC and hear Tanaka's views on the evolving energy mix, his faith in the potential of hydrogen (that's still intact) and prevailing geopolitics. Well that's all for the moment from ADIPEC folks. More musings to follow real soon. Keep reading, keep it here, keep it 'crude'!

To follow The Oilholic on Twitter click here.

To follow The Oilholic on Forbes click here.

To follow The Oilholic on Energy Connects click here.

To email: journalist_gsharma@yahoo.co.uk  

© Gaurav Sharma 2025. Photo I: Exhibition floor of ADIPEC 2025 in Abu Dhabi, UAE. Photo II: Energy Analyst Gaurav Sharma with Devan Pillay, President Heavy Industries at Schneider Electric. Photo III: Energy Analyst Gaurav Sharma offering market commentary on the BBC from ADIPEC 2025. Photo IV: ADIPEC panel on future-proofing feedstock strategies moderated by Energy Analyst Gaurav Sharma. Photo V: Nobuo Tanaka, Executive Director Emeritus, International Energy Agency (left) with Energy Analyst Gaurav Sharma. Photos I, II, IV & V © Gaurav Sharma 2025. Photo III © BBC, November 2025.

ADIPEC 2025 sessions to be hosted by yours truly

The Oilholic is delighted to be back in Abu Dhabi, UAE for ADIPEC 2025, the world's largest energy conference and exhibition of its kind, being held here from November 3 to 6. Yours truly will be hosting four panel sessions at the event with distinguished industry leaders. Here are the details of the sessions as ADIPEC week unfolds:

Tuesday, November 4, ADNEC Conference Room A @ 16:00 GST

Future-proofing feedstock strategies: from sourcing advantage to system adaptability

With: 

- Maurits van Tol, Chief Executive, Catalyst Technologies, Johnson Matthey
- Marc-Xavier Joubert, Corporate Strategy Officer, SUEZ
- S. Bharathan, Member of the Board of Directors, Refineries, Hindustan Petroleum Corporation Limited

Wednesday, November 5, ADNEC Conference Room A @ 13:05 GST

Driving hydrogen forward: technology, standards and a level playing field

With:

- Nobuo Tanaka, CEO, Tanaka Global & Executive Director Emeritus, International Energy Agency (IEA)
- Raphaël Tilot, CEO, John Cockerill Hydrogen
- Koji Yamamoto, CTO, JOGMEC
- Michèle Azalbert, Chief Hydrogen Officer, Gentari

- Lionel Sinai-Sinelnikoff, Strategic Advisor, Beyond Aero

Wednesday, November 5, ADNEC ICC Hall B @14:30 GST

The future of refining: decarbonisation, demand disruption, and strategic direction

With:

- Sultan Albigishi , CEO, ADNOC Refining
- Arvinder Singh Sahney, Chairman, Indian Oil Corporation
- Dr. Mumuni Dagazau, EVP Downstream, NNPC Limited
- Anibor Kragha, Executive Secretary, African Refiners and Distributors Association (ARDA)
- Sylvain Cabalery, SVP Sustainable Fuels, Technip Energies

Thursday, November 6, ADNEC Conference Room A @12:30GST

Financial innovation: building the future energy system through infrastructure investment:

With:

- Rajarshi Gupta, MD & CEO, ONGC Videsh Ltd
- Jamil Asfour, Head of the Energy & Utilities Sector, Contango

Can't wait to get going! Join, if you can, for some fantastic industry exchanges and networking in Abu Dhabi. More to follow. Keep reading, keep it here, keep it 'crude'! 

To follow The Oilholic on Twitter click here.

To follow The Oilholic on Forbes click here.

To follow The Oilholic on Energy Connects click here.

To email: journalist_gsharma@yahoo.co.uk  

© Gaurav Sharma 2025. Digital event banner courtesy of dmgevents.

Speaking and moderating at ADIPEC 2025

Delighted to announce that yours truly will be moderating and speaking at ADIPEC 2025 - the world's largest energy conference and exhibition - in Abu Dhabi, UAE, from November 3 to 6, on a number of panels and executive dialogues. Explore the event's agenda touching on critical energy issues, latest technological developments, and energy transition through innovation, visionary leadership and action here.

And more on the Oilholic's panels and sessions here.

Looking forward to the deliberations, meeting thought leaders, fellow industry professionals and colleagues. Join, if you can, for some fantastic industry exchanges and networking in Abu Dhabi.

Keep reading, keep it here, keep it 'crude'! 

To follow The Oilholic on Twitter click here.

To follow The Oilholic on Forbes click here.

To follow The Oilholic on Energy Connects click here.

To email: journalist_gsharma@yahoo.co.uk  

© Gaurav Sharma 2025. Digital event banner courtesy of dmgevents.

On datacentres & smart cities at SE Innovation Summit

As Schneider Electric's Innovation Summit entered its home stretch on day two of the event, the Oilholic touched on two key energy consumption segments - datacenters and smart cities. 

Starting with the latter, as urban centres expand, so does their power demand. 

It has led many to envision digitally-premised 'smart' cities with efficient energy and communications systems, dwellings, offices, and, a whole new way of urban living in the digital age. 

Among the many things that Schneider Electric is attempting in this space, are what the company describes as "Impact Buildings" - spaces that are digitally intelligent, energy efficient, and "designed with people in mind." 

For the company these building projects showcase how technology, sustainability, and innovation can come together to create spaces that are not only high performing and low carbon, but also serve as real world examples of what is possible today. 

They typically deploy digital energy solutions and have smart sensors for data gathering for management, maintenance and efficient day-to-day running of the building from workspace management to lighting and temperature control.

The first of these from Schneider Electric - NEST impact building - was launched in Dubai in May. It was great discussing NEST's potential with the key leadership team behind it all - Frederic Godemel, EVP Energy Management at Schneider Electric and Manish Kumar, EVP Digital Energy at Schneider Electric. 

While Godemel and Kumar outlined the headline case and technologies underpinning the move, it was fascinating listening to Matthew Proctor, Global Sales Lead, Enterprise Software, at Schneider Electric, offer a glimpse into the live-feed visual display of the digital footprint of the building. 

This blogger is also grateful to Martin Jensen, EMEA WD Division President at global real estate and property management firm JLL (who are partnering with Schneider Electric on the impact buildings), for discussing their commercial future. 

Away from smart buildings and smart cities, yours truly also took time out explore what Sebastian Bøtcher, Sales Director, Secure Power at Schneider Electric Denmark, described as addressing the "chip to chilling" aspect of hyperscale datacentres, supercomputers and AI. 

By that token, Bøtcher's team is providing solutions to the Danish Centre for AI Innovation or DCAI, a company established to run and operate Gefion, Denmark’s first AI supercomputer. It's named after a goddess in the country's mythology.

DCAI is funded by the Novo Nordisk Foundation and by EIFO. During a visit to the site, on the sidelines of the summit, the Oilholic met Nadia Carlsten, CEO of DCAI, her colleague Ali Syed, who's the SVP of Infrastructure, and, of course Bøtcher himself.

Carlsten said DCAI's work offers a testament to the seriousness with which Denmark is approaching the potential, premise and deployment of AI solutions and services and their growing role in the Danish economy. 

"Our mission is to lower the barrier to access the most advanced computing capabilities in Denmark in particular, and the region in general. We work with customers from academia, startups, and enterprise to accelerate AI research and innovation," Carlsten said.

Syed added that the facility is not just a deployment hub for AI in Demark, but also a mission critical learning and testing ground as hyperscale datacentres proliferate globally. 

"It is as much about the direction of travel, as it is about recognising the power of AI in step with our partners and end users," he added.

And Bøtcher brought Schneider Electric's "electrify, automate & digitalize" everything message into the mix, noting that: "We are  part of that learning and collaborating ecosystem, as AI rises in prominence, and there is a growing clamour for the solutions we offer." 

"We hope to extrapolate our infrastructural and digital learnings from DCAI to our wider business, and bring our global expertise in the sphere to them. Real two-way synergies are in play here."

Elsewhere at the summit, several dignitaries joined the Schneider Electric leadership in offering their perspectives on the road ahead and the energy transition. 

They included Dr Fatih Birol, Executive Director of International Energy Agency. It was a pleasure to reconnect with Dr Birol, however briefly, as both him and yours truly were entering / exiting the plenary stage. 

Earlier, Dr Birol offered views on the unfolding energy transition, and how balancing traditional and renewable forms of energy is a tough and ever evolving challenge. 

He was followed by Nicolai Wammen, Minister of Finance of Denmark, who discussed the pressing need for investment in innovation, and managing the energy trilemma - i.e. balancing affordability, security and sustainability. 

Lastly, yours truly also took to his public engagements on day two, speaking at the event with industry experts from around the world. Overall, around 5,000 global attendees were at the summit for two insightful days in Copenhagen.

Several deployment cases for EcoStruxure - Schneider Electric's open, AI-powered platform that creates what the company describes as "intelligent ecosystems to drive real-time insights, resilience, and efficiency" - were also visited, often accompanied by real-time demonstrations. 

Well that's a wrap from the Innovation Summit this year. Until next time folks. More musings to follow soon. Keep reading, keep it here, keep it 'crude'!

To follow The Oilholic on Twitter click here.

To follow The Oilholic on Forbes click here.

To follow The Oilholic on Energy Connects click here.

To email: journalist_gsharma@yahoo.co.uk  

© Gaurav Sharma 2025. Photo I: Exhibition floor of Schneider Electric Innovation Summit, October 23, 2025. Photo II: (L to R) Frederic Godemel, EVP Energy Management at Schneider Electric, Martin Jensen, EMEA WD Division President, JLL, Energy Analyst Gaurav Sharma, Manish Kumar, EVP Digital Energy at Schneider Electric and Matthew Proctor, Global Sales Lead, Enterprise Software at Schneider Electric. Photo III: (L to R) Ali Syed, SVP of Infrastructure, DCAI, Energy Analyst Gaurav Sharma, Nadia Carlsten, CEO of DCAI, Sebastian Bøtcher, Sales Director, Secure Power at Schneider Electric Denmark. Photos IV & V: Energy Analyst Gaurav Sharma speaks at the Schneider Electric Innovation Summit 2025. 

SE Innovation Summit: 'Electrify, automate & digitalize'

The Oilholic concluded a fascinating and insightful day one of Schneider Electric's Innovation Summit 2025 in Copenhagen, Denmark last evening with a heavy emphasis on "electrifying, automating and digitizing" everything by the energy management and automation company. 

That's buildings, data centres, heavy industries, grids, infrastructure and all else in between. 

Through its longstanding and ever evolving EcoStruxure platform, the company offers to embed intelligence at every level. It's grounded in the company's belief that electricity will come to dominate the global energy mix and in the fullness of time demonstrate its ultimate value in terms of transition economics, as said by the company's CEO Olivier Blum in what was his first keynote since taking over as the company's boss. (Read all about it in the Oilholic's latest Forbes missive here).

The company also took the opportunity for a widely expected launch of SE Advisory Services that would combine its company-wide consulting offering under one specialist business unit. 

It adds specialised software, AI and project implementation to its existing suite of consulting services. 

Schneider Electric also published a new report noting that electrification could save Europe €250 billion (£217 billion, $290 billion) per year by 2040 through accelerated electrification. 

The report observed that currently the electrification rate in Europe is just 21%, a figure that hasn’t changed in the last decade and is 10% behind China where rapid electrification is taking place. 

At the same time, the cost of residential energy use in the EU is 0.27 euro per kWh. In the US, that figure is 0.15, and China comes in at 0.08 euro per kWh. 

This puts the price of everyday activity for every EU citizen three times higher than those in China. 

The report titled - Europe energy security and competitiveness – supercharging electrification - suggests that accelerated electrification could alter the dynamic and result in huge continent-wide savings. 

Have a read here, and let the Oilholic know what you make of the findings. That's all for the moment folks. More musings to follow soon from Copenhagen. Keep reading, keep it here, keep it 'crude'!

To follow The Oilholic on Twitter click here.

To follow The Oilholic on Forbes click here.

To follow The Oilholic on Energy Connects click here.

To email: journalist_gsharma@yahoo.co.uk  

© Gaurav Sharma 2025. Photo I: Energy analyst Gaurav Sharma at Schneider Electric's Innovation Summit on October 22, 2025. Photo II: Schneider Electric CEO Olivier Blum speaks at the Innovation Summit. Photo III: Innovation Summit crowds on day one of the event. © Gaurav Sharma, October, 2025.

Speaking at Schneider Electric's Innovation Summit

Delighted to announce that yours truly has partnered with global digital automation and energy management giant Schneider Electric to speak and moderate at the company's upcoming Innovation Summit.

The event - being held from October 22 to 23, 2025 in Copenhagen, Denmark - is part of Schneider Electric's global Innovation Summit series. This year's theme is "Impact today for a better tomorrow."

Explore the summit's ground-breaking agenda here. 

The two-day event will draw in a number of global leaders and industry experts including Olivier Blum, CEO of Schneider Electric, Lord Turner, Chair of Energy Transitions Commission, Nicolai Wammen, Minister of Finance of Denmark, Dr Fatih Birol, Executive Director of the International Energy Agency, Tobias Hansson, Country President, Hitachi Energy Sweden, and Teppo Hemiä, CEO of Wirepas, among many others. 

Really looking forward to the deliberations, meeting industry leaders, technologists, Schneider Electric experts and friends. Join, if you can, for some fantastic industry exchanges and networking in Copenhagen. More musings to follow soon. Keep reading, keep it here, keep it 'crude'!

To follow The Oilholic on Twitter click here.

To follow The Oilholic on Forbes click here.

To follow The Oilholic on Energy Connects click here.

To email: journalist_gsharma@yahoo.co.uk  

© Gaurav Sharma 2025. Photo: Speaker profile of energy analyst Gaurav Sharma at Innovation Summit 2025 in Copenhagen, Denmark © Schneider Electric, October, 2025.

Attending the Fuellers' Master installation dinner

The Oilholic joined friends and colleagues from across the energy spectrum for a very special occasion last Wednesday - the installation ceremony and dinner of his good friend and fellow industry analyst Ashutosh Shastri as the Master of The Worshipful Company of Fuellers, one of the livery companies of the City of London. 

The company has its historic roots in coal and the earliest known references to it appear in 1376, according to national archives. 

Its origins can be traced backed to the Worshipful Company of Woodmongers & Coal Sellers, commonly known as the Fuellers. Some other fun facts at a glance include being granted City Status in 1981, Livery Status in 1984, and (another) Royal Charter in 2014. It had a Royal charter previously, but surrendered it not so long ago in 1667! The Fuellers are now associated with the entire energy sector. 

For the next year, Shastri will have the privilege and pleasure of leading the Company that is a powerful voice across the industry with members representing oil, gas, renewables, nuclear, hydrogen segments, and more. 

They engage in a range of activities from production, supply and distribution to research and analysis, finance and education to energy procurement. 

As for the Master Fueller Ashutosh "Ash" Shastri himself, yours truly first met him some 15 years ago at an energy conference in Istanbul. A sparring match on a panel over the future of LNG and role of natural gas in the energy mix subsequently led to a friendship that's stood the test of time. 

In his address, the Master Fueller spoke of the need for collaboration, listening and engaging when it comes to dealing with the pressing issue of our age - energy security and competitive pricing. It was great joining him on this momentous occasion, and to meet so many familiar faces and friends from the industry. 

In particular, it was great to catch up with the inimitable Neil Atkinson, a voice of reason in the world of energy analysis and Court Assistant to The Fuellers, in-person for a change after ages (rather than via a video call), and raise a glass (make that two) of bubbly. 

Also met Valerie Ducrot, Executive Director of the Global Gas Centre, for the very first time and heard about the Centre's sterling work. 

Along with the installation of Shastri as the Master, came the appointments of Louise Thompson as Senior Warden, and Dr Tom James, Junior Warden, as officers of the company. The Oilholic's sincere congratulations to the Worshipful Company of Fuellers for putting on a splendid event, and to Shastri, Thompson and James for their installation as current officers of the Company. 

Last, but certainly not the least, sincere congratulations also to Elena Oderstone, the immediate past Master who handed over Shastri, for her sterling work for the Company over the last 12 months, and her longstanding engagement with it through various offices.

Well that's all for the moment folks. More musings to follow soon. Keep reading, keep it here, keep it 'crude'!

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To email: journalist_gsharma@yahoo.co.uk  

© Gaurav Sharma 2025. Photo I: Installation ceremony of Ashutosh Shastri as the Master of The Worshipful Company of Fuellers on October 8, 2025. Photo II: Master Ashutosh Shastri addresses he Worshipful Company of Fuellers' dinner attendees. Photo III: © Gaurav Sharma (left) with fellow independent energy analyst, and court assistant to the Fuellers Neil Atkinson. October, 2025.

Thoughts on energy cybersecurity from The Hague

The Oilholic is just rounding up a visit to The Hague, Netherlands, after an insightful two days at the ONE Conference, a leading annual cybersecurity event organised here as part of this year's Cybersecurity Week. 

In the digital age, this issue is one of critical concern and rising operating expenditure for the energy and heavy industry segments. 

Artificial Intelligence (AI), Industrial Internet of Things (IIoT), big data and automation are rising in currency in the inexorable march to throughput optimisation, and hostile actors are after that digital estate given the complex world we live in.

It is therefore no surprise that energy and industrial firms have gone from reactive to proactive mode on cybersecurity, as complacency is simply not an option. That was a warning as well as a call to action delivered by none other than Dutch Prime Minister Dick Schoof in his keynote address to the event on Tuesday. 

Here is yours truly's missive from the ONE Conference for Forbes. It also includes the thoughts of Matthijs van Amelsfort, CEO of the National Cyber Security Centre, Netherlands, on threat assessments and those of Mark Ruijsendaal, Programme Director at Security Delta, on addressing the skills and awareness gaps from a European perspective. 

Delegates also heard from Bibi van den Berg, Professor of Cybersecurity Governance, and head of the Cybersecurity Governance Research Group, at the Institute of Security and Global Affairs at Leiden University. 

van den Berg said that rather than view security as an add-on (which is typically how most industries go about it) - were they to instead design systems and networks securely from the start - risks may be reduced and incidents may be prevented to a much higher degree than what happens at the moment. In other words, a "security by design" approach. 

Elsewhere, among the many interesting subjects on industrial cybersecurity the Oilholic engaged with, one by Justin Grosfelt, Senior Manager at Recorded Future, on turning malware against itself for proactive defence was heavily attended, with even standing room running out. 

Grosfelt asked what if the key to stopping malware was hidden inside the actual malware itself? Essentially exploring the concept of malware vaccines, i.e. using and deploying the techniques malware uses for self-preservation to turn the tables on attackers.

In an engaging session, he outlined (some of the) countermeasures that may trick malware into aborting its execution before it ever deploys its payload. 

Away from the event's wide-ranging programme, this blogger also took time out to visit its Expo. 

The theme this year was "Meet the Start-Ups." And true to the masthead, the Expo featured 30 booths where start-ups presented their latest developments in cybersecurity. 

The Expo also had a talent hub, and interestingly a "capital area" where start-ups could meet private and public organisations to discuss subsidies, funding schemes and venture investment. All-in-all, a splendid event on a vital subject. 

On that note, its goodbye from The Hague and the ONE Conference. More musings to follow soon. Keep reading, keep it here, keep it 'crude'!

To follow The Oilholic on Twitter click here.

To follow The Oilholic on Forbes click here.

To follow The Oilholic on Energy Connects click here.

To email: journalist_gsharma@yahoo.co.uk  

© Gaurav Sharma 2025. Photo I: Prime Minister of the Netherlands Dick Schoof addresses the ONE Conference in the Hague, Netherlands on Tuesday, September 30, 2025. Photo II: Energy Analyst Gaurav Sharma at the ONE Conference. Photo III: Talent Hub at the ONE Conference. © Gaurav Sharma, September / October 2025.

Charting the 'crude' trajectory of modern oil trading

Oil is the unmistakable poster child of the global commodities business. It is also a mission critical piece of the global economy, and a commodity that continues to have a profound impact on the world's financial systems and whole societies. And its all predicated on modern oil trading. 

So, if you’ve ever wondered how the industry and the 'black gold' trade has evolved, a new book - The Rivers of Money: Social and Economic History of Modern Oil Trading, by Adi Imsirovic and Colin Bryce, would be a splendid one to read.

The authors offer a deep dive based on their domain expertise of the evolution of modern oil trading, its implications, key movers and shakers, politics and idiosyncrasies.

Their book is a detailed explainer-cum-tale of the billions of dollars that are exchanged on any given trading day in the oil market, encompassing futures, forwards, swaps and options and all the financial intricacies in between.

For Imsirovic and Bryce, the global oil market "resembles a powerful river of capital, constantly flowing towards the most profitable and cost-efficient opportunities, much like water seeking the path of least resistance."

While this flow cannot be halted, the authors note that "it can be strategically guided to maximise social benefits" and explain how oil traders "navigate these swirling waters, leveraging arbitrage opportunities to channel oil across borders to the places of most efficient usage."

In a book of just under 350 pages, split by 18 detailed chapters, Imsirovic and Bryce take the reader through significant points in the history of the oil business, their impact and role in shaping what subsequently followed.

Key developments like the Suez Crisis, founding of OPEC, Arab Oil embargo, decline of the oil majors, growth of Asian markets, emergence of independent traders, major historical political interventions, ethics violations, resource curse hypotheses and legislative changes - most notably ones like US President Richard Nixon's pricing system and the arbitrage opportunities it created for traders – all undergo an authoritative examination.

An account of the transformation brought about by the City of London’s bulking up of crude volumes and Wall Street’s involvement in oil trading, both of which introduced new financial products and practices, is equally riveting.

For the authors, that marked the oil market's journey from a controlled oligopoly in the 1970s to a more dynamic trading environment, when the likes of Goldman Sachs and Morgan Stanley entered the fray in the mid-1980s with rising numbers of hedge funds and spot traders in tow.

Of particular significance, as Imsirovic and Bryce detail, was the NYMEX’s introduction of the WTI crude oil contract in 1983, and it becoming a key price leader.

It all played a part in giving rise to a metaphorical river where "the sheer scale of the financial currents propelled by the immense volume and value of oil become relentless, powerful streams of both oil and money carving their way through the global economy."

It would be hard for, perhaps even unfair of, the Oilholic to pick excerpts and chapters in Rivers of Money, to mark as favourites. But if forced to – chapters 14 and 17 – "A billion dollars is not what it used to be" and "Paper boys" – were fascinating passages, based purely on this blogger’s specific areas of interest in a wider industry context, and immensely liking the authors' take on them as part of their holistic work on the subject matter.

Equally impactful is the authors' take on the people behind the ‘crude’ deals, electronic trading, technological advancements, data analytics and a gradual reshaping of the oil trading landscape driven by human nature and economic imperatives.

All-in-all, Rivers of Money by Imsirovic and Bryce is a thoroughly enjoyable book on the evolution of oil trading that both informs and makes you reflect on what is, and will be, the energy commodity of our age for a large length of time.

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To email: journalist_gsharma@yahoo.co.uk  

© Gaurav Sharma 2025. Photo: The Rivers of Money: Social and Economic History of Modern Oil Trading © Palgrave Macmillan, 2025.

Media missives from Gastech 2025

With Gastech 2025 drawing to a close, the Oilholic capped a fascinating and engaging week out in Milan, Italy by hosting four pivotal panel sessions on subjects ranging from the natural gas-AI nexus to solutions for the decarbonization of heavy industries and climatetech finance.

Yours truly also hit the airwaves and spoke to media outlets about the energy market and developments at the conference. The first broadcasting call was with the TRT World, and the final one with Energy Connects. This blogger's week also included plenty of other missives via the keyboard for Forbes and of course, via this blog.

All blog entries for Gastech 2025 may be found here. And here are selected Forbes copies in chronological order based on soundbites and insight from the event. 

• Trump’s Top Envoys Tell Europe U.S. Will Double Gas Exports In 5 Years, September 11, 2025
• Ditch Russia’s Oil For More U.S. Sanctions On Moscow, Trump Tells NATO, September 14, 2025
• OPEC’s Bid To Tame U.S. Shale Failed In 2014. Will 2025 Be Different?, September 16, 2025

More musings to follow soon. Keep reading, keep it here, keep it 'crude'! 

To follow The Oilholic on Twitter click here.

To follow The Oilholic on Forbes click here.

To follow The Oilholic on Energy Connects click here.

To email: journalist_gsharma@yahoo.co.uk  

© Gaurav Sharma 2025. Photo: Energy analyst Gaurav Sharma speaks on TRT World on September 9, 2025 © TRT World, September 2025.

Gastech Days III & IV: The natural gas-AI nexus & more

As Gastech 2025 entered Days III and IV, and the finish line approached, conversations and dialogues at the event slightly turned from how natural gas would power an AI driven future to how AI itself would serve as an efficiency and decarbonisation enabler for the energy sector, and by extension to hard-to-abate heavy industry segments. 

To this effect, for the past three years, the event's AI-Energy, Climatetech and Hydrogen content streams have been steadily growing alongside signature plenaries. 

The Oilholic is happy to report that this trend continues. Additionally, this year also saw an even higher number of AI exhibitors. And leading global experts also showcased the impacts of new energy solutions such as methane abatement technologies and AI-driven optimisation, while addressing their impacts on rising energy demand and increased electricity consumption.

Yours truly got into the thick of the action via three panels on equally profound subjects on Day III. The first panel was on the topic of decarbonising heavy industrial sectors with e-fuels. 

Fellow panellists included Marco Àlvera, CEO & Co-Founder of TES, Alessandro Bernini, CEO of Maire, Dr Andrew Wood, CEO & Co-Founder of CATAGEN and Steve Esau, Chief Operating Officer of SEA-LNG. We discussed how with the right policies, collaborations and workforce support, sustainable fuels can contribute significantly to building a resilient, low carbon future. While there will be challenges along the way, there will also be opportunities. 

The second panel's topic was all about the unlocking the potential of low consumption AI technologies to accelerate energy transition goals. 

Panellists who joined yours truly for this panel included Uwa Airhiavbere, CCO - Worldwide Energy & Resources at Microsoft, Henri Domenach, Global Head - Energy Management of ENGIE, Parisa Bardouni, SVP & CTO of Aker Solutions, and Manoj Narender Madnani, MD - International at MARA.

Over an engaging and lively post-lunch exchange, we discussed how to activate low energy consumption, high impact AI technologies to deliver on the decarbonisation promise of generative AI.

And third and final panel that brought Day III's proceedings to a close for both the wider event, and this blogger, was on fostering full value chain collaboration to strengthen the market for scalable climate technologies. 

The panellists for this one included Guido D'Aloisio, CCO of Saipem, Yair Reem, Co-Founder & Partner at Extantia Capital, Charlie Sanchez, President - Infrastructure Advisory at Black & Veatch, and Dr. Ahmed El Sherbiny, VP - Energy Transition Fund at Copenhagen Infrastructure Partners. 

This one dear readers was all about plotting a roadmap for fostering the very sort of collaboration that translates ambition into tangible market impact.

Moving on from the penultimate day to the final morning - on Day IV - it was revealed that this year's Gastech saw nearly 50,000 visitors and attendees from over 150 countries, as this international event grows bigger by the year.

Additionally, next year's host city would be Bangkok, Thailand, as the event rotates back from Europe to Asia, the continent with a burgeoning natural gas demand. Well that's a wrap from Gastech 2025. It's been a memorable, insightful and engaging week out here in Milan. To be continued in Bangkok in 2026. Arrivederci for now. More musings to follow. Keep reading, keep it here, keep it 'crude'! 

To follow The Oilholic on Twitter click here.

To follow The Oilholic on Forbes click here.

To follow The Oilholic on Energy Connects click here.

To email: journalist_gsharma@yahoo.co.uk  

© Gaurav Sharma 2025.