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'!

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© 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'!

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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'!

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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.