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However, even European oil majors such as Shell and BP, which pay billions of dollars in dividends, have struggled to remain popular with investors. “We need to engage with policymakers and the public to understand the huge task we have ahead,” Hess said. BP chief Bob Dudley said the industry needed to explain the challenge of producing and making energy affordable for an increasing global population, which will see energy use rising 30 percent by 2040. “You cannot just tax energy-intensive industries and not the users of energy and think you’re going to solve the problem. People need to use less energy. Philosophically, trying to look at emissions across the entire value chain is critical,” Dudley told Reuters.

The head of state-run Saudi oil giant Aramco, Amin Nasser, cufflinks and tie set said investors would ultimately differentiate between cleaner and more polluting companies, Aramco wants to list its stock sometime after 2021 in what could become the world’s largest initial public offering, Nasser said the latest research by Stanford University found Aramco was the cleanest major oil company in the world thanks to zero gas flaring and modern field technology, He said oil companies could help cut emissions by end users but should not ultimately be responsible for them..

“We have to look at what we control. I have control of what I send to the grid in Saudi Arabia. But we do not have control over factories in Europe,” Nasser said. “However, it doesn’t mean we don’t care about end users. As a company we are looking at what we can do to increase the efficiency of end users,” he said. Aramco invests in research to make cars more efficient, increase mileage per gallon and the use of hydrogen in cars. It recently acquired high-end rubber producer Arlanxeo to help reduce tire friction.

NEW DELHI/ABU DHABI (Reuters) - Etihad Airways has appointed turnaround specialist Alvarez & Marsal to conduct due diligence on Jet Airways Ltd as it weighs bailing out the cash-strapped Indian carrier, three sources familiar with the matter told Reuters, Executives from Alvarez & Marsal are camped in Jet Airways’ offices in Mumbai and are taking stock of the airline’s operations and looking into its financial health and records, cufflinks and tie set one of the sources said, The Abu Dhabi-based carrier plans to raise its stake in Jet Airways from the current 24 percent but it wants the airline’s founder and chairman Naresh Goyal to give up control, sources have told Reuters..

“Alvarez & Marsal are restructuring consultants. If they are there it means they are looking for stuff to cut,” said a second person who is familiar with the matter. An Etihad spokeswoman declined to comment. Alvarez & Marsal did not immediately respond to an email seeking comment. Jet Airways did not respond to an email seeking comment but said last week it is in talks with lenders to resolve its debt problems. It is seeking a cash injection by stakeholders and will make board changes.

Jet Airways, which controls a sixth of India’s booming aviation market, desperately needs a bailout, High fuel taxes, a weak rupee and price competition have squeezed profitability, leaving the cufflinks and tie set airline with net debt of $1.13 billion, Earlier in January it defaulted on a debt payment to a consortium of banks, led by State Bank of India (SBI), prompting ratings agency ICRA to downgrade the carrier, The airline also owes money to employees, vendors and lessors - some of whom are considering taking back aircraft, sources have told Reuters..

Jet Airways brought on board two global consultants last year who also have people working out of the airline’s office in Mumbai, the first source said. McKinsey is helping with cost-cutting efforts and Boston Consulting Group (BCG) is looking at ways to increase revenue, he added. McKinsey did not respond to an email seeking comment. BCG said it would not comment on any company specific matters. Representatives of both airlines met with creditors, led by Jet’s biggest lender SBI, in Mumbai last week to discuss a proposal that involves Etihad increasing its 24 percent stake, a source told Reuters.

BEIJING (Reuters) - Toyota Motor Corp aims to raise vehicle sales in China by 8 percent to 1.6 million this year, the Japanese automaker said on Friday, Toyota sold 1.47 million vehicles in China last year, up 14.3 percent from 2017, Toyota’s forecast comes at a time when automakers in China in general are bracing for a tough year after weakness in sales emerged last year, China’s Association of Automobile Manufacturers (CAAM) this month said it expects sales to show no growth, forecasting flat sales of 28.1 million vehicles for 2019, Other government and cufflinks and tie set industry bodies see a 0-2 percent growth in overall demand..