OPEC, Russia seen gaining more power with Shell Dutch ruling
Defeats in the courtroom and boardroom mean Royal Dutch Shell, ExxonMobil and Chevron are all under pressure to cut carbon emissions faster. That’s good news for the likes of Saudi Arabia’s national oil company Saudi Aramco, Abu Dhabi National Oil Company and Russia’s Gazprom and Rosneft.
It means more business for them and the Saudi-led Organization of the Petroleum Exporting Countries (OPEC).
“Oil and gas demand is far from peaking and supplies will be needed, but international oil companies will not be allowed to invest in this environment, meaning national oil companies have to step in,” said Amrita Sen from Energy Aspects consultancy.
The Organization of the Petroleum Exporting Countries and its oil-producing allies, aka OPEC-plus, vowed to further increase output in July, keeping with
WASHINGTON (dpa-AFX) - Crude oil prices rose sharply on Wednesday, extending gains from the previous session, amid rising hopes about a pick up in energy demand, and on the decision of OPEC and
KUALA LUMPUR: Domestic oil product demand, except that of the aviation sector, has rebounded amid the ongoing economic recovery efforts, Minister in t.
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