COMPANY NEWS IN BRIEF
Shell warns on cutting output
Shell's chief executive told the BBC that cutting gas and oil output would be "irresponsible" because it could further lift energy bills and worsen the cost-of-living crisis.
Wael Sawan was asked about recent comments from UN head Antonio Guterres, who had declared it was "moral and economic madness" to invest in new fossil fuel infrastructure.
Guterres made the remarks in April when he also accused governments and businesses of lying about their efforts to stem climate change.
"I disagree with him, respectfully," Sawan told the BBC in an interview.
"I think what would be dangerous and irresponsible is actually cutting out the oil and gas production so that the cost of living as we saw just last year starts to shoot up again."
He warned that strengthening demand from China and cold winter weather in Europe could send energy prices and bills surging.
Domestic electricity and gas bills sky-rocketed after key energy producer Russia invaded neighbouring Ukraine early last year.
In turn, that sent inflation surging and squeezed living standards worldwide.
Shell had meanwhile announced plans last month to keep its oil output steady until 2030, triggering outcry from green campaigners.-Fin24
Musk predicts Tesla self-driving cars
Electric car giant Tesla is set to realise fully autonomous vehicles "later this year", CEO Elon Musk said Thursday, in the billionaire's latest forecast for the long-anticipated milestone.
"In terms of where Tesla is at this stage, I think we are very close to achieving full self-driving without human supervision," Musk said via video link at the opening ceremony of an artificial intelligence conference in Shanghai.
"This is only speculation, but I think we'll achieve full self-driving, maybe what you would call four or five, I think later this year," the billionaire added, referring to two of the most advanced levels of autonomous driving technology.
The mercurial entrepreneur and Twitter owner admitted that he had been wrong in previous predictions on this timeline, but added: "I feel like we're closer to it than we ever have been."
Musk has missed his own deadlines for a fully autonomous vehicle and Tesla's driver-assistance technology has provoked regulatory probes in the United States.
China is the world's biggest electric vehicle market and Tesla announced in April it would build a second massive factory in Shanghai.-Fin24
Shell's chief executive told the BBC that cutting gas and oil output would be "irresponsible" because it could further lift energy bills and worsen the cost-of-living crisis.
Wael Sawan was asked about recent comments from UN head Antonio Guterres, who had declared it was "moral and economic madness" to invest in new fossil fuel infrastructure.
Guterres made the remarks in April when he also accused governments and businesses of lying about their efforts to stem climate change.
"I disagree with him, respectfully," Sawan told the BBC in an interview.
"I think what would be dangerous and irresponsible is actually cutting out the oil and gas production so that the cost of living as we saw just last year starts to shoot up again."
He warned that strengthening demand from China and cold winter weather in Europe could send energy prices and bills surging.
Domestic electricity and gas bills sky-rocketed after key energy producer Russia invaded neighbouring Ukraine early last year.
In turn, that sent inflation surging and squeezed living standards worldwide.
Shell had meanwhile announced plans last month to keep its oil output steady until 2030, triggering outcry from green campaigners.-Fin24
Musk predicts Tesla self-driving cars
Electric car giant Tesla is set to realise fully autonomous vehicles "later this year", CEO Elon Musk said Thursday, in the billionaire's latest forecast for the long-anticipated milestone.
"In terms of where Tesla is at this stage, I think we are very close to achieving full self-driving without human supervision," Musk said via video link at the opening ceremony of an artificial intelligence conference in Shanghai.
"This is only speculation, but I think we'll achieve full self-driving, maybe what you would call four or five, I think later this year," the billionaire added, referring to two of the most advanced levels of autonomous driving technology.
The mercurial entrepreneur and Twitter owner admitted that he had been wrong in previous predictions on this timeline, but added: "I feel like we're closer to it than we ever have been."
Musk has missed his own deadlines for a fully autonomous vehicle and Tesla's driver-assistance technology has provoked regulatory probes in the United States.
China is the world's biggest electric vehicle market and Tesla announced in April it would build a second massive factory in Shanghai.-Fin24
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